S E53: Economics For All Your Decisions In Life - From Romance to Retirement
Think Like An Economist
Spend to Day Versus Spend to Morrow
None of us know how long we're going to live. You don't actually really want to save to live for a really, really long time. Rather, you want to take whatever income you earn throughout your life and allocate that money cross time in a way that makes sense for each of those future selves. This is why economist focus so much on the marginal principle - spend to day versus spend to morrow.
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