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Morendil comments on I want to save myself - Less Wrong Discussion
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Yes, that. The omission was glaring to me because I'm in a situation where net worth is pretty comfortable overall, but discounting my apartment and looking only at my liquid assets and income, well, it's a different picture.
I wonder what other blind spots exist in standard financial advice. I'm unlikely to happen to fall in the one and only category that reveals a blind spot.
It is not a blind spot. The problem with financial advice is how to tailor it to the receiver. The idea of treating the house as special is good for everyone that otherwise would start to spend on it. For someone who one might call a real rational acting financial sound person it is possible to analyze his situation wholy.
I used to find it weird when people start cutting up their credit cards. It makes sense if you other wise use them, but if you do not, then you can just store them in a nice place and decide to not use them.