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We fear change; potential losses loom larger than similar gains, a phenomenon that psychologists Amos Tversky and Daniel Kahneman call loss aversion.12

Felix Oberholzer-Gee • Better, Simpler Strategy: A Value-Based Guide to Exceptional Performance

Most of us fall into one of two camps regarding our money: We either ignore it and feel guilty, or we obsess over financial details by arguing interest rates and geopolitical risks without taking action.

Ramit Sethi • I Will Teach You to Be Rich: No Guilt. No Excuses. Just a 6-Week Program That Works (Second Edition)

sunk cost and loss aversion. People have a strong reluctance to discard something that they’ve already invested in.

Julie Dirksen • Design for How People Learn (Voices That Matter)

But the lure of the current hill is strong. He ends up falling for a common trap highlighted by behavioral economists: people tend to systematically overvalue near term over long term rewards . This effect seems to be even stronger in more ambitious people.

Chris Dixon • Climbing the Wrong Hill | Cdixon Blog

Getting your finances right is essential to 100-year life, but money is far from being the most important resource. Family, friendships, mental health and happiness are all crucial components.

Andrew Scott • The 100-Year Life: Living and Working in an Age of Longevity

Two topics impact everyone, whether you are interested in them or not: health and money.

Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness

Only recently did the combination of rising life expectancy and geographical dispersion of families make it necessary for people to think about providing for their own retirement income rather than depending on their children.

Cass R. Sunstein • Nudge: The Final Edition

“I crave status.”

Keith Payne • The Broken Ladder: How Inequality Changes the Way We Think, Live and Die

often rely on others (waiters, for example) for help: