You are absolutely right about being flexible. We do need to identify what is most important but we also need to be able to turn on a dime if events turn against us.
Events can change for better or for worse - we need to be ready to cut losses in a downturn, take advantage of upsides, or amend the plan if necessary.
June 29, 2008 3:37 pm
anonymous
My parents have lived through the kind of "recessions/depressions" where sugar or syrup sandwiches and a glass of water was a Sunday dinner. They gave me preparatory lessons on finance and survival that would seem advance for some mature minds, but at age four I was well-versed in interest rates, the stock market, etc. and had $1000,00 of my own to invest anyway I liked.
Today, I'm smarter for it, and while I live a well-balanced life (financially and otherwise, but not so much so that it gives me immunity to the affects of the economy - - even I am feeling the economic pinch (and it hurts). Especially as I explore purchasing my first home in this crazed Washington, DC Metropolitan Maniac of a real estate market (now is a good time to buy my foot - - depends on where you what to live; I have to close my eyes or walk away when I am at the gas pump because its hard to reconcile that the cost of filling my tank has increased by $20.
"Depression" or "recession"? However you see it, its a force to be reckoned with.
June 30, 2008 2:34 pm
anonymous
I believe that in all things, even the most simple things, it is prudent to have a fluid system of prioritization. As your circumstances change, as economic indicators change, as market conditions fluctuate, as your grow emotionally, psychologically, intellectually etc. Your way of seeing and evaluating the world will impact your decision making in various ways. It is important for your system of priortization to offer flexible solutions to the decisions you confront.
You should have a sound means for balancing need and desire; assessing possibilties and probabilties; exploring options and determining potential impacts.
So, it doesn't matter if you are making a causual decision about what to do with a Saturday even what to do with an an investment account to ensure the best return - - you have to prioritize - - what to do you consider most important, most valuable, most.......
3 RESPONSES TO "DECISION MODELS AND METHODS"
@anonymous
You are absolutely right about being flexible. We do need to identify what is most important but we also need to be able to turn on a dime if events turn against us.
Events can change for better or for worse - we need to be ready to cut losses in a downturn, take advantage of upsides, or amend the plan if necessary.
My parents have lived through the kind of "recessions/depressions" where sugar or syrup sandwiches and a glass of water was a Sunday dinner. They gave me preparatory lessons on finance and survival that would seem advance for some mature minds, but at age four I was well-versed in interest rates, the stock market, etc. and had $1000,00 of my own to invest anyway I liked.
Today, I'm smarter for it, and while I live a well-balanced life (financially and otherwise, but not so much so that it gives me immunity to the affects of the economy - - even I am feeling the economic pinch (and it hurts). Especially as I explore purchasing my first home in this crazed Washington, DC Metropolitan Maniac of a real estate market (now is a good time to buy my foot - - depends on where you what to live; I have to close my eyes or walk away when I am at the gas pump because its hard to reconcile that the cost of filling my tank has increased by $20.
"Depression" or "recession"? However you see it, its a force to be reckoned with.
I believe that in all things, even the most simple things, it is prudent to have a fluid system of prioritization. As your circumstances change, as economic indicators change, as market conditions fluctuate, as your grow emotionally, psychologically, intellectually etc. Your way of seeing and evaluating the world will impact your decision making in various ways. It is important for your system of priortization to offer flexible solutions to the decisions you confront.
You should have a sound means for balancing need and desire; assessing possibilties and probabilties; exploring options and determining potential impacts.
So, it doesn't matter if you are making a causual decision about what to do with a Saturday even what to do with an an investment account to ensure the best return - - you have to prioritize - - what to do you consider most important, most valuable, most.......
GOT SOMETHING TO SAY?