Episode 163
What Are Your Decisions Costing You?
Laurence Kotlikoff is a renowned economist. He is a Professor of Economics at Boston University and the author of Money Magic -- an Economist's Secrets to More Money, Less Risk, and a Better Life.
Every choice we make costs us something; whether we acknowledge that cost or not is another matter. To properly plan for and navigate through our retirement, we have to be willing to assign the appropriate costs to all the choices we make.
If we decide to move to a less costly location, selling our home and uprooting our life, we'll save money on costs like utilities and property taxes, gas and food. But moving from our current home has a cost - what about the friends you leave behind? What about the familiarity with the neighbourhood and the surrounding towns? You have to start all over in the new location. There is a cost associated with that - the loss of familiarity and the need to take time to grow it again.
These costs are part of Laurence's book, Money Magic, which is available in stores and online now.
Please check out what Laurence has to offer on the many sites he's got:
