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Trajectory over Specificity
- Long-term financial goals become less precise over time due to unforeseen life changes.
- Focus on a general direction (trajectory) rather than fixating on exact numbers early on.
Plan for Headwinds
- Acknowledge potential obstacles like inflation, distractions, and market downturns when planning long-term.
- Prepare for these challenges to stay on track and avoid discouragement.
Debt vs. Investing
- Prioritize paying off high-interest debt, but balance it with saving/investing.
- Consider your goals and risk tolerance, as there's an emotional aspect to debt repayment.