Opher Ganel (@opher.ganel) - Deepstash

Opher Ganel

@opher.ganel

32 Followers

1 Following

13 STASHED IDEAS

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13 PUBLISHED IDEAS

stashed 273 times

Group or Individual Brainstorming?

While group brainstorming is often more effective at generating ideas than normal group problem solving, several studies have shown that individual brainstorming produces more – and often better – ideas than group brainstorming.

Individual brainstorming can produce better ideas because you're less likely to run into counter-productive behaviors.

However, the best brainstorming takes advantage of both individual and group work.

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Happiness peaks or levels off beyond $75k income? Wrong!

This often bandied about claim (http://content.time.com/time/magazine/article/0,9171,2019628,00.html), that happiness maxes out at $75k/year is due to a shallow and wrong reading of the research (https://www.pnas.org/content/107/38/16489.full).

Actually, life satisfaction keeps improving with income, with no limit.

Even emotional wellbeing doesn't always peak at $75k - it depends on local cost of living (https://medium.com/financial-strategy/the-dirty-little-secret-about-money-168edd36a2ee).

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Looking at Others Can Get in the Way of Managing Your Financial Affairs

How rich other people are getting. “Nothing so undermines your financial judgement as the sight of your neighbor getting rich.”

Financial advice from billionaires. The ultra-wealthy are usually out of touch with normal people for their advice to be useful. They can also recover from huge financial mistakes that you can't afford.

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Lifestyle inflation is an insidious killer of your financial wellbeing and eventual financial independence.

What it is: allowing your expenses to grow along with increases in your income.

How preventing it helps:

  • Using increases in income to plump up your savings lets you take advantage of compounded returns over time.
  • Second, keeping your expenses lower reduces the size of the nest egg needed to fund your retirement. 

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3 Questions to Answer to Know How Much You Need to be Able to Retire

To figure out how much you need in order to retire, answer these questions:

  1. How long do you expect to live in retirement (early retirement = longer retirement)?
  2. What budget can you enjoy living on?
  3. How much income do you expect in retirement (Social Security, rental income, part-time work, annuities, etc.)?

Multiply by 28 the difference between answers 2 and 3. That's how much you'll need for regular retirement age. For early retirement, multiply by at least 33.

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