10 Red flags to note in relationships .

A thread !

My highlighted passages from The Psychology of Money by @morganhousel. Thread below

1. The 401k - the backbone savings vehicle of American retirement - did not exist until 1978. The Roth Ira was not born until 1998. If it were a person it would be barely old enough to drink

2. NYU professor Scott Galloway has a related idea that is so important to remember when judging success - both your own and others': "Nothing is as good or as bad as it seems."

3. Margin of safety - you can call it room for error or redundancy

4. "Every job looks easy when you're not the one doing it because the challenges faced by someone in the arena are often invisible to those in the crowd."

5. "The average equity fund investor underperformed the funds they invested in by half a percent per year, according to Morningstar - the result of buying and selling when they should have just bought and held."

https://t.co/Cotah6eeRa

The 🔟 Most Important Money Lessons

I Wish I Could Teach My Younger Self 🧵

1⃣ ALWAYS live below your means

2⃣Developing a long-term mindset

is the foundation of financial success

3⃣In the beginning, your savings rate is all that matters

Eventually, your investing returns are all that matters

Focus your time accordingly

4⃣Financial freedom is achievable

The price is ~10 years of hardcore saving/investing

Some of you will probably know I'm currently grieving. It's a month since my fantastic sister died. I've been thinking a lot about loss, progress and reckoning and coming to terms, both personally and as a society. And I've been wondering: how will we remember the pandemic dead?

The UK is filled with memorials to the dead of wars, of disasters, of lifeboat crews and atrocities. We are a landscape haunted by attempts to remember the brave and the innocent. Villages, towns, businesses, communities: all grouped together to pay for plaques, statues, gardens

I have a terror that in our desire to get 'back to normal' we will forget those lost and things lost during the current pandemic. There's not an enemy they were overcome by; not a single flashpoint of tragedy. Those lost to the pandemic are an uncomfortable reminder of failure

Rebecca Solnit talks about hope only coming from knowing history. People may be optimistic about the future post-covid-19, but that's just desire and dream. For us to build a hopeful future we need to acknowledge and feel what has been lost; to repair and grow, not just erase

The thing is, I don't know if our communities know how to remember what is lost, not in ways that are meaningful to all of that community. Religion is a great enabler of remembrance, but that's not something everyone has. I'm wondering how we fully inhabit our collective sorrow