The Jesse Mecham Show
Inherent Value Doesn't Exist
Mar 18, 2024
Discussing the concept of inherent and subjective value in financial decision making. Highlighting the subjectivity of value assessment and how it varies based on individual needs and preferences. Emphasizing the ever-changing nature of value and the importance of making trade-offs in financial planning.
06:52
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Quick takeaways
- Value is not inherent but variable, constantly shifting based on personal circumstances and desires.
- Rule 3 in financial planning involves adapting to changing needs and desires, acknowledging the fluctuating nature of value.
Deep dives
Habit of Trading and Financial Decisions
The podcast discusses the importance of making deliberate financial decisions by assigning each dollar a specific purpose, leading to more conscious trading. It emphasizes the need to consider future expenses and readiness to adapt to new information affecting financial choices. By aging money, individuals are encouraged to carefully contemplate their trades to maximize wealth creation and enjoyment.
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