How to make smarter decisions ~ Get Rich Slowly - Deepstash

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How to make smarter decisions ~ Get Rich Slowly

getrichslowly.org

People have a natural tendency to conflate the quality of a decision with the quality of its outcome. They're not the same thing. 

You can make a smart, rational choice but still get poor results. That doesn't mean you should have made a different choice; it simply means that other f...

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Luck and Incomplete Information

Why don't smart decisions always lead to good results? Because we don't have complete control over our lives — and we don't have all of the information. 

You can opt not to drink on New Year's Eve, for instance, but still get blindsided by somebody who did to drink and drive....

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Becoming comfortable with uncertainty and not knowing is a vital step to becoming a better decision-maker.

What makes a decision great is not that it has a great outcome. A great decision is the result of a good process, and that process must include an attempt to accur...

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  • Stop thinking in terms of right and wrong. Few things are ever 0% or 100% likely to occur. Instead, we should think in bets.
  • Before we commit to a course of action, we should think about possible outcomes and how likely each of those outcomes is to occur. Every choice carr...

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  • Learn to examine your own beliefs. If you're certain about something, explore the opposing viewpoint.
  • Build a network of trusted advisors. Draw on people from a variety of backgrounds and belief systems. 
  • When you make decisions, think of the future. Prac...

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