41–50 of 340 posts
I will tell you from experience that one cannot learn "cooking" in a single hour, any more than one can learn "music" in an hour.
I agree 100%, but I would say: it is possible to learn _something useful_ about cooking in 1 hour (e.g. how to chop vegetables, or how to cook a steak). I am doubtful it is possible to have the same experience with music, although maybe one can learn things like "what is a canon".
I will tell you from experience that one cannot learn "cooking" in a single hour, any more than one can learn "music" in an hour.
I agree 100%, but I would say: it is possible to learn _something useful_ about cooking in 1 hour (e.g. how to chop vegetables, or how to cook a steak). I am doubtful it is possible to have the same experience with music, although maybe one can learn things like "what is a canon".
Taking this also as a bit of an Ask HN: Easily the Tiny Habits habit formation regime created by Stanford researcher BJ Fogg. A lot of the addictive design patterns you see in apps like Snapchat, Instagram, etc. are built off his research. Quite nefarious use of psychology for advertising/“engagement”, but the plus side is you can use the same strategies to build habits you want to build. Step 1: Consider the habit y…
Didn't work for me, I simply started forgetting to do the new "habit" after a few days. I guess if it's just after flossing you can add a note next to the toothbrush, but for others that's not practical.
Other thing he recommends is “practicing” your habit, especially if your context changes e.g. you’re staying in a hotel for a week. This would mean for example to mimic brushing your teeth in front of the mirror then walking to the bed to sit and close your eyes 5 times or so.
To start it’s probably worth picking something up that you can easily prompt yourself to do (such as a note on your mirror). The only one that failed for me was posture related which relied on a too-irregular prompt.
Compound interest. Simply starting early in some boring find/investment and not obsessing over daily stock prices will do wonders for one’s health and finances
As of now, a 10y US treasury bill will pay less than 2%, and 2% compounded is still not much ("your $1000 saved today will become $1999 if you don't touch it for 35 years!").
Learning to save in general is probably the more fundamental information, imho.
EDIT: obviously investing in stocks-based funds comes with extra risks, and extra profit. If anything learning that risk and profit are connected is an even more important insight.
Earlier quoted context omitted.
It’s not being pedantic. When you talk about the theory of compound interest it’s essentially starting with $100, getting paid interest or a dividend, and then reinvesting that so now you have $102 that earns a dividend or interest and so on. Investing in 100 shares of company XYZ that does not pay a dividend, or investing in a company that does pay a dividend but isn’t being reinvested, is not compound interest in t…
Roughly speaking, if a company doesn’t pay a dividend, it reinvests the profits in itself which compounds its own stock price. You get the benefits of compounding stock prices that way. I think we are arguing over semantics.
First aid is good. Also general investing in index funds like VTSAX and VTIAX. It is so simple, yet most people I run into on a regular basis just save their money in a checking account earning 0.01% APY. Follow the reddit personal finance flowchart. Learn about Roth and HSAs and ESPP and the benefits of diversification. We’re literally talking about multiples of your net-worth over your life if you invest compared t…
Why is it, exactly, that, as a rule of thumb, almost all people who start life poor and end up rich do it with real estate.
Buy low, sell high, and you get leverage provided to you by a bank. It shouldn't surprise anybody that it's an easy source of wealth!
There are also poor people who get rich with a carpet cleaning or cement delivery business, but they have to overcome challenges unique to their situation. So every success story looks like an irreplicable outlier.
First aid is good. Also general investing in index funds like VTSAX and VTIAX. It is so simple, yet most people I run into on a regular basis just save their money in a checking account earning 0.01% APY. Follow the reddit personal finance flowchart. Learn about Roth and HSAs and ESPP and the benefits of diversification. We’re literally talking about multiples of your net-worth over your life if you invest compared t…
Do you have a link to the reddit flowchart?