..Thank you, Larry, for all this great detail. Really helps clarify how MF works and why other types of plans fall short. Slowly but surely l’m getting to trust all the numbers so l can live fearlessly!
Here is an excerpt from Freakonomics about how real-estate agents use a different strategy when advising clients vs when they sell their own home. Similar principle to what is outlined in this post.
—it turns out that a real-estate agent keeps her own home on the market an average of ten days longer and sells it for an extra 3-plus percent, or $10,000 on a $300,000 house. When she sells her own house, an agent holds out for the best offer; when she sells yours, she encourages you to take the first decent offer that comes along. Like a stockbroker churning commissions, she wants to make deals and make them fast. Why not? Her share of a better offer—$150—is too puny an incentive to encourage her to do otherwise.
Cool!
Keep at it, Debra. best, Larry
Very interesting, Ian. Thanks for sending this. best, Larry
..Thank you, Larry, for all this great detail. Really helps clarify how MF works and why other types of plans fall short. Slowly but surely l’m getting to trust all the numbers so l can live fearlessly!
Great post.
Here is an excerpt from Freakonomics about how real-estate agents use a different strategy when advising clients vs when they sell their own home. Similar principle to what is outlined in this post.
—it turns out that a real-estate agent keeps her own home on the market an average of ten days longer and sells it for an extra 3-plus percent, or $10,000 on a $300,000 house. When she sells her own house, an agent holds out for the best offer; when she sells yours, she encourages you to take the first decent offer that comes along. Like a stockbroker churning commissions, she wants to make deals and make them fast. Why not? Her share of a better offer—$150—is too puny an incentive to encourage her to do otherwise.