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Monday, April 4, 2011

Why Build a Nest Egg?

Source: Hammacher
Adrian at 7Million7Years has an interesting post on "The Fisherman's Fallacy."  It raises questions of what retirement is, why we save for retirement, and how our views change. I know young people who really don't see the point of struggling to build a nest egg. They're happy with a few good video games and the time to play them.

In the  fisherman's fallacy, the Wall Street banker approaches the man who fishes a few hours and spends the rest of of his time playing cards with friends and family. The banker explains to the man that, with a few years of  hard work, he could build a nice business that would enable him to retire and fish and spend the rest of the day with his friends - in other words doing what he's doing now.

Why would he even consider working hard to get to do what he is already doing? Read Adrian's post to find out.

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