The Best of Web posts are much shorter in length with material that is a notch or two above what you see in the regular TBB posts. It also gives me a short break midweek because I need it. Here is another post with five links about how you can not win when speculating, best read on depression, how to buy happiness with all the extra money you likely have right now, the best podcast I listened to recently about one of my favorite subjects which is the psychology of money and amazing photography at yet another international competition, TBB on!
TBB Blog Mission: To Educate. Entertain. Inspire. In That Order!
Support TBB by applying for CREDIT CARDS or visiting our LINKS or Donate
You like my blog? Send a link to someone please!
This is an awesome post about
We’re in the midst of a wild market, with people seeking to convert a thousand dollars into a million within the span of months, if not weeks. The only way to do this is to invest in highly speculative assets and commodities – things that use risk as a selling point, and not as a deterrent. And when you’re willing to lose everything in the hopes of gaining your dreams, the way you view those gains changes dramatically.
Here’s the thing about speculation: Realized gains feel like penalties when they’re interpreted as missed opportunities. Walking away with a great 10x return will make you feel terrible if that came at the expense of a future 100x return. If the top turned out to be much further out than you thought, then you can’t help but to be unhappy with the gains you actually did realize (no matter how good they were). This reinforces the dynamic that what you earn is never enough. If making a 10x return turns out to be a painful experience, how does that shape your relationship with money and how you view the world? More importantly, how does that affect your capacity for gratitude? The inability to be thankful for making a solid ROI introduces an entitlement that further distances you from people that are truly in need. How can you connect with the plight of others if you can’t even be happy with something most people would dream to have?
It is for this reason that speculation is a game you can’t win. On one hand, there’s the burden of regret resulting from selling too early (or from selling too late at a realized loss). On the other, there’s the schadenfreude you embody by selling right on time. Whichever path the asset ends up taking, there’s a mental tax to be paid on top of any monetary result, and that’s what makes this such a difficult game to internalize.
When I invest in things, I do so with a long time horizon so market timing is not a consideration, allowing consistency and compounding to work its magic. What I give up on short-term exponential returns is long-term peace of mind, and to me, that’s a tradeoff that simply can’t be beaten. [Same]
One of the best reads about depression. It also goes into how to best help people who suffer from it. I highly recommend it to learn more about it!
1. Depression is not sadness.
2. Coming out of depression is the most dangerous time.
3. Depressed people don’t need good listeners, a sympathetic ear, or a shoulder to cry on.
4. Depressed people do need human company.
5. Cognitive behavioral therapy really works.
6. Depressed people may need a new “narrative”.
7. Depressed people always need to be vigilant against a relapse.
The great reopening offers ample opportunity to lift your spirits if you have some money to spare. Here’s how to do it right. Some actionable advice on how to get back to normal…as far as spending your money that is. I need to spend more on experiences and I have definitely been donating more to charities.
This is probably the first podcast that makes it into one of my Best of Web series. And you won’t be disappointed imho, I guarantee it!
These are all amazing!
And I leave you with this…
Thank you for reading my blog. If you enjoy it please pass it on to a family member or friend, thank you!
Follow TBB on Twitter @FlyerTalkerinA2.
You can subscribe to TBB below, winners only!
Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.