“Alexa, what should I pack for vacation?”
“Swimsuits…beach towels…beach chairs…beach toys…sunscreen…”
Helpful? Maybe…if you want to go to the beach.
But what if you want to go on a four-day camping and hiking trip? Mostly useless.
If your destination isn’t defined, the well-intentioned advice of others may leave you perfectly prepared for someone else’s trip.
Whether vacationing or investing…for more effective advice and better results, define your destination first, then start packing.
Here are the stories that caught my eye this week:
MONEY: Not Efficient, But Effective (Of Dollars And Data)
“Most of your financial success is going to come down to one simple metric: your savings rate. It might seem absurd, but it’s true. If you can save enough money, none of the other financial advice on this blog will matter. Why? Because with a high enough savings rate, you will never need to worry about your asset returns.”
LIFE: A sense of purpose could prolong your life (Quartz)
“The meaning of life is a question that has plagued philosophers for millennia, and there is no single correct answer. But increasingly, scientists are finding that having a sense of purpose, whatever yours may be, is key to well-being.”