890: Friday Q&A: Upgrade My House, Where to Move After Graduation, Future of the Stock Market, etc.
Radical Personal Finance
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The Sunk Cost of the Time Invested in Acquiring the Equipment
Ai: We have to ignore the sunk costs while trying to make good decisions. The fact that you are choosing not to work right now at a paying job has nothing to do with how much money you should or should not spend on your son's bicycle, he says. A thousand dollar bike versus hundreds of thousands dollars of income is a false equivalency and i think we need to guard against it.
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