Re:How to get rich without being lucky (2019)
by shipman05 on Saturday May 22, 2021 @05:33PM
(#27250444)
Personally, I find living well below my means leads to a great deal of happiness. I never have to stress about money. Never have to worry about losing my job (as long as it isn't a long term loss). I can make future career decisions based on quality of life a not raw salary.
It's an opportunity cost like anything else, but I would argue having more wealth than you need is a tangible benefit all its own.
Re:How to get rich without being lucky (2019)
by throw0101a on Saturday May 22, 2021 @07:53PM
(#27251282)
I don't think Taleb was advocating living above one's means, but that aestheticism is not necessarily a high moral accomplishment. You can't take your wealth across the River Styx, and Charon only demands a single coin, so what's the point of amassing it?
Re:How to get rich without being lucky (2019)
by MispelledToyota on Saturday May 22, 2021 @09:07PM
(#27251633)
asceticism. I think we can all agree aestheticism is the highest moral accomplishment of all.
Fooled by Randomness by Nassim Taleb, most/more famous for Black Swan, pokes holes in the methodology used in TMND, specifically survivorship bias.
Another observation from FbR:
> I will set aside the point that I see no special heroism in accumulating money, particularly if, in addition, the person is foolish enough to not even try to derive any tangible benefit from the wealth (aside from the pleasure of regularly counting the beans).
* https://www.goodreads.com/quotes/553605-i-will-set-aside-the...