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Loss aversion is real. People with 15M will act more conservatively than those with $10k because the loss hurts more.
by dehrmann 2y ago
Loss aversion is real. People with 15M will act more conservatively than those with $10k because the loss hurts more.
- jebarker 2y agoI don't have 15M, but I know that once I had a decent amount of money in investments I suddenly became more risk averse. The prospect of not having to work forever and/or monitor spending too closely is very alluring. The instability in the world right now is actually a good reminder that in some ways money is a false sense of security though and you've got to seize the day still.