People I (Mostly) Admire 40. Harold Pollack on Why Managing Your Money Is as Easy as Taking Out the Garbage
Aug 14, 2021
Harold Pollack, a public policy professor at the University of Chicago, shares his perspective on personal finance, arguing it can be simplified to just a few key principles. He discusses why managing money is as straightforward as taking out the garbage. Pollack also addresses gun violence, proposing innovative approaches to reduce it, and reflects on personal finance through stories of health crises that shaped his understanding. The conversation blends insights on financial literacy with impactful ideas for public safety.
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Lazy Boy Recliner
- Harold Pollack, a public policy professor, ignored personal finance until 40.
- A family crisis involving his mother-in-law's death and caring for his brother-in-law forced him to confront his finances.
Index Card Advice
- Pay your credit card balance in full every month to avoid high interest.
- Maximize contributions to 401Ks and tax-advantaged savings to benefit from subsidies.
Financial Advice is Simple
- Personal finance is simple, and high advisor fees are unnecessary.
- Steve Levitt argues against hiring financial advisors due to their cost.
