21. The Most Important Asset Flashcards
(24 cards)
Who is Peter Attia?
A physician and longevity expert
What thought experiment did Peter Attia propose?
Trading places with Warren Buffett at age 87 for his wealth and status
What does Attia’s thought experiment illustrate about time?
Time is worth far more than money in some circumstances
What is the story of Dashrath Manjhi about?
His perseverance to carve a path through a mountain over 22 years
How long did Dashrath Manjhi take to carve the path?
22 years
What tools did Dashrath Manjhi use to carve the path?
A hammer and chisel
What nickname did Dashrath Manjhi earn?
Mountain Man
How did Manjhi’s path impact travel distance between villages?
Reduced from 34 miles to 9 miles
What is described as the most important asset in life?
Time
What was the financial goal set by the author at age 23?
$500,000 by age 30
What was the author’s net worth when he turned 31?
Less than $500,000
What market condition did the author experience while failing to meet his financial goal?
A raging bull market
What mistake did the author realize he made regarding his career?
Not optimizing his time and career decisions
What age range is noted for rapid income growth?
Ages 25-35
What does the author say cannot be bought?
More time
What is the ‘Happiness Curve’ as described by Jonathan Rauch?
Happiness declines in the late 20s, bottoms at age 50, then increases
What forecasting error do young people make regarding life satisfaction?
They overestimate their future life satisfaction by about 10%
What analogy does the author use to describe life expectations over time?
We begin our lives as growth stocks and end as value stocks
What does the author suggest happens to expectations as we age?
They tend to lower, leading to pleasant surprises
What is the main lesson about wealth mentioned in the text?
Wealth is a relative game, not an absolute one
What did the author learn about the relationship between wealth and life impact?
Affluence increases in steps, impacting life differently at various wealth levels
What is the significance of the U-curve of happiness?
It shows the pattern of life satisfaction across different ages
What did the author realize about his peers who worked in big tech?
They benefited from stock options and significant financial growth
Fill in the blank: Dashrath Manjhi moved over _______ cubic feet of rock.
270,000
