After my post, The Proper Withdrawal Rate: 4 Percent Rule Is Outdated, caused a ruckus, I began to wonder why people argue so much on the internet. Arguing is exhausting and pointless. There’s no need to win a financial argument. Just get rich instead.
The last time I got into a financial argument must have been when I was in my early 30s. I thought I knew so much after only 10 years of working in finance. I was willing to battle with people who saw the world differently. How naive.
But as I’ve gotten older, I now just shrug my mental shoulders when there’s a financial disagreement. I do try my best to understand the person’s point of view. Goodness knows I have many blind spots. However, if I still disagree, then I move on. No big deal.
In the professional investment world, we are taught to always entertain the possibilities. As soon as you ossify your way of thinking, you expose yourself to tremendous potential loss. To get rich, you must try and see opportunity before others.
In personal finance land, the main thing you must focus on is whether your views and actions are making you richer or poorer. If you disagree with someone’s financial point of view, yet are getting poorer or are not keeping up with everybody else, then you should consider changing your ways.
Be flexible in thought. Otherwise, you’re just going to get angry as the world passes you by.