The game show logic behind early retirement

11 thoughts on “The game show logic behind early retirement”

  1. Great analogy! I’ve been reflecting on how easily we justify stupid decisions to ourselves (and others). It sounds so good once you’ve made your mind and emotions to take that route, but you might see it quite the opposite way if you were being more logical. It’s crazy the mind-tricks we can play on ourselves!

    1. Mind tricks are definitely commonplace – for all of us. If we catch ourselves doing it, I think we are one step ahead of the game. 🙂

  2. You used our favorite game theory analogy! Gosh, I hope retirement doesn’t end up being a series of game theory decisions… though Mr. ONL would LOVE that. 😉 A great reminder, though, that decisions are complicated things, and one decision affects all those that come after it. That’s the biggest thing to us: making decisions begets more good decisions, and gives you tons of positive momentum. Whereas making the easy path-of-least-resistance, keeping up with the Joneses-type decisions begets more of that. Definitely a choose your own adventure situation. 🙂

    1. They are complicated things, and it’s funny how the decisions that we make very much affect many of our other decisions as well. Many things we do are all tied together. 🙂

  3. very good analogy…always entertaining. The numerical quantification of debt, and the average person’s reserves and retirement stash can be surprising–it’s scary to think that not that long ago I was part of that pool.

    Thanks again for another entertaining and insightful article!

  4. I had to google for the Monty Hall problem as I needed a more in-depth explanation on the door problem 🙂 Great read!

    The explanation that worked for me is that it’s easier to understand with a million doors.
    Pick one door, and the hosts open all but one of the 999’999 others. Consider what the chances are that you picked the right one from the start: one in a million. Making it much more obvious that the other one the host did not open is the winner.

    1. Yup, that one is even easier to understand – against the odds, you probably picked the wrong door, and when live opens up the wrong decisions, it makes it that much easier to choose the right one. We just gotta see it!

  5. Game theory was always a bit of a brain pickler in business school, especially the Monty Hall problem. On one level it makes sense yet still runs my brain the wrong way. I had to play some modified 3 card Monty with a friend to prove it for myself before I’d fully believed it.

Leave a Reply