Imagine this: You’ve just booked an airline ticket.
But then you see a cheaper flight online.
The second flight’s departure time is much more convenient – and you could change your ticket without paying an extra fee.
It makes sense to switch flights.
But plenty of people, including Danny Kahneman, might be too afraid to do it.
You’ve probably heard of the 4 percent retirement rule.
It’s used to determine how much a retiree should withdraw from a retirement account each year.
The idea is the retiree receives a steady income stream, while maintaining a healthy account balance.
It’s considered safe by experts.
But what happens when it’s put to the test against falling markets?
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[Estimated reading time: 4 minutes, 40 seconds - read while you enjoy your cornflakes]
Ten years ago, you invested £10,000. Today, it’s worth £12,500. Did you make money?
It seems like a silly question….
But if this happened, your investments would have lost to a box of cornflakes.