The Odds Are on Your Side

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Five years out, more than two thirds of the time the market gives a positive return. There's never been a 20 year period of negative returns for us stock. If you can truly think long term and act long term, the odds are truly on your side. Ye, one of my other favorite stories comes from a leonard maladno's book, to drunkard's walk, how randomness rules our lives.

In this special episode of the show Shermer and Green discuss one of the most important and yet poorly understood concepts in modern society: money and why it matters. They discuss: the origins of money, and how to make it work for you, how the stock market works, the power of compound interest, the secrets of millionaires, the difference between a IRA, 401(k), and a Roth IRA, hedge-fund managers and investment advisors, the relationship between risk and reward, the relationship between saving and spending, the problem with free market capitalism, money, happiness, and meaning, and the role of luck and contingency in how lives turn out.