Cost of Future Regret

I watched an interesting podcast with Andrew Huberman and Morgan Housel, writer of the famous book, 'Psychology of Money'. Of course listening to a long two hour podcast should generate a lot of gems and I certainly wasn't disappointed. Even though I was busy with chores, I still listened intently to the podcast as it was with two of my favourite advisors.

One thing that Morgan highlighted was that many of us would make better decisions, and take necessary actions if we measured appropriately the future cost of our present actions. What happens most often is that while a lot of do have hopes, expectations and plans for the future, most of the times we don't think exponentially or too far off into the future. At best we make medium term plans or take actions that only benefit in the medium term.

The cost of Future Regret is about weighing the exponential consequences of inaction or wrong action now, very far off into the future. If we all thought in exponential terms perhaps we'd produce very different results, or certainly take very different actions from what we currently do. There are rather few people I've seen who think along that line, but they are certainly present. There's something about grand thinking that refines actions to what I can only call sustainable levels.

Of course there are a few things if asked now that a lot of us will regret as not having thought through properly. Still, some people, even on this Hive platform have shown me that it isn't too late to start thinking grand, as long as the wherewithal is there to go through with it.