Daniel Pink's "Regret" delves into the psychology of regret, exploring its causes, consequences, and potential for personal growth. The book examines different types of regret, such as regrets of inaction and action, and how they shape our decisions and behaviors. Pink draws upon psychological research and real-life examples to illustrate the complexities of regret. He offers practical strategies for managing regret and using it as a tool for self-reflection and improvement. The book provides insights into how to make better choices and live a more fulfilling life.
In this book, Bronnie Ware shares her experiences from working in palliative care, where she identified the five most common regrets of the dying. These regrets include: 'I wish I’d had the courage to live a life true to myself, not the life others expected of me,' 'I wish I hadn’t worked so hard,' 'I wish I’d had the courage to express my feelings,' 'I wish I had stayed in touch with my friends,' and 'I wish that I had let myself be happier.' The book provides a heartfelt and inspiring account of how these regrets can be addressed while there is still time, promoting a life of greater compassion, honesty, and happiness.
In 'Build the Life You Want,' Arthur C. Brooks and Oprah Winfrey offer a research-based approach to improving one's life by focusing on emotional self-management. The book emphasizes building the four pillars of happiness: family, friendship, work, and faith. It provides practical, science-backed strategies to manage emotions, turn challenges into opportunities, and find inner peace. The authors share their own experiences and those of others who have found joy despite hardships, highlighting the importance of enjoyment, satisfaction, and purpose in achieving a happier life.
In 'The Soul of Wealth', Dr. Daniel Crosby presents 50 short essays that delve into what wealth really is, emphasizing that true wealth encompasses friends, family, health, vocation, time, leisure, and other important aspects of life. The book offers practical advice on how to balance monetary wealth with soulful wealth, covering topics such as how spending reveals values, the role of money in buying happiness, creating a good financial plan, the limitations of willpower, and mastering delayed gratification. It is designed to challenge readers' thinking, rekindle forgotten truths, and empower them to adopt a new relationship with money.
In this book, Tetlock and Gardner present the results of the Good Judgment Project, a massive forecasting tournament that identified a small group of 'superforecasters' who are exceptionally good at predicting future events. The authors explain that good forecasting does not require powerful computers or arcane methods but involves gathering evidence from various sources, thinking probabilistically, working in teams, keeping score, and being willing to admit error and change course. The book uses stories of forecasting successes and failures, as well as interviews with high-level decision makers, to illustrate these principles and demonstrate how anyone can improve their forecasting abilities[3][4][5].
In 'From Strength to Strength', Arthur C. Brooks addresses the inevitable decline in abilities that comes with aging and provides a practical guide on how to transform this period into an opportunity for growth. Drawing on social science, philosophy, biography, theology, and eastern wisdom, as well as interviews with everyday men and women, Brooks advocates for refocusing on priorities such as deep wisdom, detachment from empty rewards, connection and service to others, and spiritual progress. He argues that by adapting our expectations and focusing on these areas, we can achieve increased happiness and purpose in our later years.
In 'Falling Upward,' Richard Rohr divides human life into two halves. The first half is about building a life, achieving success, and establishing an identity. The second half, often misunderstood as a period of decline, is actually a journey of spiritual growth, contentment, and deeper understanding. Rohr argues that spiritual maturity is achieved not by avoiding failures and sufferings but by embracing them as necessary steps towards true self-discovery and union with God. The book offers practical guidance on transitioning from the outer tasks of the first half of life to the inner tasks of the second half, emphasizing the importance of integrity, love, and non-dualistic thinking[2][3][5].
In 'The Second Mountain', David Brooks explores the concept of two mountains in life: the first mountain, which represents individual success and ego-driven achievements, and the second mountain, which symbolizes a life of deeper meaning, commitment, and contribution to a greater good. Brooks argues that our society's extreme individualism has torn the social fabric, and the path to repair is through making deeper commitments to a spouse and family, a vocation, a philosophy or faith, and a community. The book is both a personal reflection on Brooks' own life journey and a broader social commentary, offering practical advice and stories of people who have lived joyous, committed lives[2][4][5].
In this classic work, Csikszentmihalyi investigates 'optimal experience' and reveals that true happiness and satisfaction can be achieved through a state of consciousness called 'flow.' During flow, individuals experience complete concentration on the task, clarity of goals, and immediate feedback. The book demonstrates how this positive state can be controlled and how it can improve the quality of life by unlocking meaning, creativity, and peak performance.
In this episode we answer emails from John, Jane and Christoph. We discuss financial and non-financial considerations when transitioning to retirement, the alternative investment strategy fund QSPNX, and revisit why you should not try to time bond investments anymore than you should try to time the stock market.
And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.
Additional Links:
Choose FI Episode 508 With Yours Truly: 508 | 5% SWR, Revealed Preferences, and the 3 Stories | Frank Vasquez
QSPNX Fund Summary: AQRFunds - AQR Style Premia Alternative Fund
QSPNX Main Page: AQR Style Premia Alternative Fund - QSPNX
Amusing Unedited AI-Bot Summary:
What if your retirement could be as thrilling as a holiday adventure? Tune into our pre-Christmas special on Risk Parity Radio, where we unravel the secrets to crafting a financially stable and fulfilling retirement. Join us as we dissect eight unique sample portfolios, responding to John’s burning questions about transitioning to a risk parity approach. We celebrate John’s upcoming retirement by sharing actionable insights from personal experiences, setting the stage for a journey filled with financial clarity and exciting new opportunities.
Ever wondered how to make your retirement years truly rewarding? Discover the art of lifestyle planning as we weigh the merits of covered call strategies against the traditional buy-and-hold approach. From embarking on early adventure travels to finding joy in volunteering or teaching, we guide you in aligning your financial strategies with your life goals. This is not just about numbers; it's about crafting a retirement that's as enriching as it is financially sound, ensuring your golden years shine brightly.
As we wrap up, we dive into the AQR Style Premia Alternative Fund's niche role in a risk parity portfolio. With a pinch of humor and a dash of nostalgia, we navigate listener emails, including a lighthearted reflection on childhood mishaps and classroom blunders. We end on a playful note, reminding you to embrace the imperfections and enjoy the whimsical side of life. Remember, while our advice aims to enlighten, always turn to your trusted advisors for personalized guidance.
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