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Aug 31, 2023 27 min

Optionality

from It's Not About The Money Hosted by Steve Nay and Tyler Smith

Steve discusses an iPad purchase and its accompanying sheet music adventures. Tyler finds a surprise bank account. An acquaintance buys a house for cheap. Having cash available is doubly beneficial--it protects you from unexpected risks and it lets you take advantage of unexpected lucky opportunities. (00:00) - Esoteric spreadsheets (05:37) - What is optionality? (10:16) - Risk and luck (13:19) - Savings gap (15:33) - Steve buys an iPad for sheet music (19:52) - Tyler squirrels away money so he'll forget about it (21:31) - How do you define financial independence? Links: The Psychology of Money, by Morgan Housel https://www.goodreads.com/book/show/41881472-the-psychology-of-money YNAB Rule 2: Embrace Your True Expenses https://www.ynab.com/the-four-rules/#rule-two --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in/nsteven/ Tyler Smith: https://www.tylersmith.io/ https://www.linkedin.com/in/tylersmith-io/

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Optionality

0:00 27:32

Chapters

  1. 0:00 Esoteric spreadsheets
  2. 5:37 What is optionality?
  3. 10:16 Risk and luck
  4. 13:19 Savings gap
  5. 15:33 Steve buys an iPad for sheet music
  6. 19:52 Tyler squirrels away money so he'll forget about it
  7. 21:31 How do you define financial independence?

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This episode is 27 minutes long.

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This episode was published on August 31, 2023.

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