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#233 - Annie Duke - How To Make Better Decisions
Modern Wisdom
Long-term Wealth Building and Cognitive Reflection
Long-term wealth accumulation through dollar-cost averaging into index funds over 50 years can make most people millionaires, as mentioned by Morgan. However, the focus should not solely be on outperforming zero returns. Engaging in active trading, like making 4% on Robinhood, might seem good but limits potential wealth growth. Various concepts like system one versus system two thinking, explore versus exploit, and consciously designed life versus execution designed life emphasize the importance of deliberate and conscious decision-making for long-term success and overall well-being.
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