Number 19 Of The 25 Cognitive Biases...
As we age there is a natural loss of certain skills and abilities.
Examples Of The Senescence-Misinfluence Bias
Sadness comes in the form of regression. (this is due to the contrast bias)
Build good will in other people – help them, give them gifts etc. as this is known as ‘building forgiveness’.
Build forgiveness with your body by going to the gym.
Build forgiveness with your bank account by saving and investing instead of squandering your income.
Build forgiveness with your joints by stretching and performing yoga on a regular basis.
“Do what’s hard when it’s easy”
How To Avoid Falling Victim To The Senescence-Misinfluence Bias
Life long learning in the form of reading books, attempting new skills and being curious in general will slow down this entropy (decay over time)
Want To Know More About Charlie Munger's Cognitive Biases & How To Dominate Life?
I recently purchased Charlie Munger’s flagship book, Poor Charlie’s Almanack – a book filled with hundreds of pages of wisdom from a billionaire and master of mindset and mental frameworks to improve your life..
This book cost me $65 USD. To most this will seem absurd…
“$65 for a book?! What a waste of money”
…these are the same people that spend hundreds of dollars on junk food and alcoholic beverages on Friday and Saturday night.
Delay The Instant Gratification
Don’t adopt the epicurean mentality of “eat, drink and be merry for tomorrow we die.”
You must think long term, you must delay the instant gratification we’re so used to experiencing in this life and invest for tomorrow (stoicism).
“Don’t invest in things that’ll rust, rot or depreciate, invest in things that’ll be worth more later or make you be worth more later”.
The information in this book is worth well over $65 if read and implemented, the information on investing and cognitive biases is worth its weight in gold.
But remember, It’s the application of knowledge that counts, not just the acquisition (read it and take action!)
Check it out and grab your copy of Poor Charlie’s Almanack here.