(e.g. future might provide much better utility for your dollar so you want to save up for that better utility)
This is one of my main reasons for saving a lot and I’m surprised nobody else has mentioned it. If technological progress continues, it seems likely there will be all kinds of cool toys and useful procedures (e.g., cognitive enhancement or life extension) that one could buy in the future, not to mention investment and charitable opportunities, and I’d hate to be left out because I had already spent my money on a bigger house or flashier cars and clothes.
Do you anticipate technological progress flattening out at some point? Or, perhaps more relevantly, do you anticipate anticipating a lower rate of technological progress than you currently do?
If not, it seems some additional factors should be taken into account here.
Even if you do anticipate flattening, some of the potential perks on the horizon are of such large +EV that a small chance of them is worth apportioning non-trivial resources towards.
There is the other side of the coin. If the dollar collapses like Peter Schiff predicts it would make sense to buy valuable stuff now(house, land for planting food, guns & ammo) as long as the dollar is still worth something.
This is one of my main reasons for saving a lot and I’m surprised nobody else has mentioned it. If technological progress continues, it seems likely there will be all kinds of cool toys and useful procedures (e.g., cognitive enhancement or life extension) that one could buy in the future, not to mention investment and charitable opportunities, and I’d hate to be left out because I had already spent my money on a bigger house or flashier cars and clothes.
Do you anticipate technological progress flattening out at some point? Or, perhaps more relevantly, do you anticipate anticipating a lower rate of technological progress than you currently do?
If not, it seems some additional factors should be taken into account here.
Even if you do anticipate flattening, some of the potential perks on the horizon are of such large +EV that a small chance of them is worth apportioning non-trivial resources towards.
There is the other side of the coin. If the dollar collapses like Peter Schiff predicts it would make sense to buy valuable stuff now(house, land for planting food, guns & ammo) as long as the dollar is still worth something.