Not Investment Advice 187: AMA, Money Psychology, Favorite Mental Models & Future AI Jobs
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Oct 23, 2024 Delve into the fascinating world of money psychology and the unique financial challenges millennials face today. Discover favorite mental models like the 80/20 principle, which can transform your decision-making. Learn about the spotlight effect and how it impacts productivity. Explore the nuanced distinctions between one-way and two-way decisions in life. Uncover insights into the art of quitting and know when to let go. Finally, ponder the future job landscape shaped by AI and the irreplaceable value of human creativity.
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Millennial Family Struggles
- A millennial family struggles with debt despite having good jobs, highlighting the changed economic landscape.
- Their parents, with substantial wealth, question why their children aren't more successful.
Supporting Children Financially
- Give children enough money to pursue opportunities but not enough to become idle.
- Prioritize providing support earlier in their lives to maximize its impact.
Millennial Financial Struggles
- The current economic climate makes it harder for millennials to achieve the same financial stability as previous generations, despite higher incomes.
- The focus on avocado toast and lattes as reasons for millennials' financial struggles is a misguided narrative.
