I have two related thoughts that I would love to hear your opinion on:
There seems to be quite a large opportunity cost. Instead of investing, you could spend the money on effective causes now. Or take a lower-paying job now rather than wait until you’ve reached some investment goal. Presumably, many effective organizations would benefit from getting money/talent earlier? If you want to maximize your life’s impact, would that be a good strategy?
Depending on your AI timelines, money that is locked until retirement is… maybe not lost, but carries a high risk. I’m personally more motivated to invest money in a way that I could use or reallocate it in cases where AI causes the economy to massively change. Do you think that makes sense, or are the tax benefits of pensions more important?
I think about it as 2 mechanisms for income: my effort or my investment’s effort. I’m at the point now where my investments do 100% of the work for earning my income, leaving me 100% of my time to spend how I see fit.
You can give more to effective causes sooner, at the cost of investing more effort for longer to keep the money coming in. Ultimately, how you want to give back, at what stage of life, and how much are all unique, personal choices.
Absolutely, make adjustments based on any personal values or beliefs. I consider this to be like many art forms. You need to learn and know the foundational basics before you can make good judgments on which parts to change or ignore.
Thanks! This sounds like good advice
I have two related thoughts that I would love to hear your opinion on:
There seems to be quite a large opportunity cost. Instead of investing, you could spend the money on effective causes now. Or take a lower-paying job now rather than wait until you’ve reached some investment goal. Presumably, many effective organizations would benefit from getting money/talent earlier? If you want to maximize your life’s impact, would that be a good strategy?
Depending on your AI timelines, money that is locked until retirement is… maybe not lost, but carries a high risk. I’m personally more motivated to invest money in a way that I could use or reallocate it in cases where AI causes the economy to massively change. Do you think that makes sense, or are the tax benefits of pensions more important?
I think about it as 2 mechanisms for income: my effort or my investment’s effort. I’m at the point now where my investments do 100% of the work for earning my income, leaving me 100% of my time to spend how I see fit.
You can give more to effective causes sooner, at the cost of investing more effort for longer to keep the money coming in. Ultimately, how you want to give back, at what stage of life, and how much are all unique, personal choices.
Absolutely, make adjustments based on any personal values or beliefs. I consider this to be like many art forms. You need to learn and know the foundational basics before you can make good judgments on which parts to change or ignore.