S E53: Economics For All Your Decisions In Life - From Romance to Retirement
Think Like An Economist
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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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