Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...
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Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...
Episode 166: Why Dave Ramsey’s Advice Doesn’t Work for Physicians
The Grow Your Wealthy Mindset Podcast
14 minutes
3 months ago
Episode 166: Why Dave Ramsey’s Advice Doesn’t Work for Physicians
Dave Ramsey has helped millions of people take control of their finances—but does his advice make sense for physicians? In this episode of The Grow Your Wealthy Mindset, I break down where Ramsey’s principles work and where they fall short for doctors. With our unique financial journey—years of training, six-figure student loan debt, and sudden income jumps—physicians need a more nuanced approach than blanket debt-aversion. From student loans and investing, to credit cards and retirement plan...
The Grow Your Wealthy Mindset Podcast
Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...
