misconceptions

12 May 2023
“Buy things, not experiences”

Harold Lee wrote a piece arguing you should buy things, not experiences — and I think he's onto something. The popular idea that experiences are inherently more valuable than things is, at its core, a…
8 April 2022
The 4% rule is a mind-killer

I love rules of thumb — in the right place at the right time they're invaluable. Working out how much you need to retire isn't one of those places. The 4% rule is a dumb rule that a lot of smart peopl…
15 February 2019
How money misconceptions can put your life into hard mode

My son is starting to get into video games. In many games, you can choose between "easy mode" and "hard mode". Sometimes I think we unnecessarily put our lives on hard mode, when we'd lead much more m…
20 May 2018
The difference between a financial adviser and an investment manager

If the first thing you ask a financial adviser is where they get their research from, you're probably conflating two very different roles. Advisers work with clients; investment managers sit in front…
16 January 2015
Australian Tax Receipts – pros and cons

I like the idea of the Australian tax receipt — showing each taxpayer where their money went. But the execution has two problems. The chart double-counts welfare spending, inflating the visual impress…

“Buy things, not experiences”