I think that the point is that if you have a little time left, you can use high-risk opportunities that you wouldn't otherwise use. As for the last paragraph, I don't think it conveys a very important message. Should you be more or less risk-averse? Maybe yes, maybe no -- it depends on how risk-averse you are now. There are people who miss important opportunities with quite small risks, and there are people who put themselves in danger without sufficient reason. For me, risk tolerance is a continuous function of estimated time left. Risks that I would take if I had 6 months are quite different from risks I would take if I had 70 years, and those are different from risks I would take if I had 700 years; and it's fine and correct.