Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 2924:

Jesse Cramer explores how smart financial planning mirrors basketball strategy: take the guaranteed shot instead of chasing risky gains. He explains how narrowing the range of outcomes through careful planning like diversifying investments or giving yourself time leads to financial dependability and peace of mind, avoiding unnecessary risks.

Read along with the original article(s) here: https://bestinterest.blog/slam-dunk-financial-planning/

Quotes to ponder:

"There’s a 60% chance I live the exact lifestyle I want to in retirement. But no matter what, all three scenarios are acceptable to me, so there’s a 100% chance I’ll enjoy life throughout my retirement."

"Reducing your range of outcomes has many benefits. In this particular basketball scenario, simple math supports it; 99% of 2 points is better than ~40% of 3 points."

"Why risk something you have and need for something you don’t have and don’t need?"

Episode references:

Risk Parity Radio podcast: https://www.riskparityradio.com

Learn more about your ad choices. Visit megaphone.fm/adchoices