Why Do You Regret Past Decisions? (Psychology of Money Ch.14)"

Your future self is a stranger you'll never meet. Think about that. Chapter 14 of "The Psychology of Money" by Morgan Housel: "You'll Change." The person you'll be in 20 years has different goals, values, and priorities than you do today. And you're massively underestimating how much you'll change. This destroys financial plans. In this breakdown: ✅ Why people underestimate personal change ✅ How this ruins long-term commitments ✅ Why you'll regret decisions you make today ✅ How to build flexibility into life plans ✅ Why endurance beats intensity You commit to a 30-year career, then realize you hate it. You save for goals you'll no longer want. You lock yourself into decisions your future self will regret. The solution? Build flexibility. Avoid extreme commitments. Accept that you'll change. --- 📚 BOOK: "The Psychology of Money" by Morgan Housel 🎯 CHAPTER: 14 - "You'll Change" 💡 KEY INSIGHT: Endurance matters more than intensity. Plan for change, not permanence. --- 🔗 PREVIOUS CHAPTERS: [Links to Chapters 1-13] ⏭️ Comment "CHAPTER 15" for the next breakdown! --- 🧠 THE STRANGER PARADOX: *Exercise:* Think about yourself 10 years ago. Would that person understand your life now? Your career choices? Your relationships? Your values? Your goals? Your priorities? Probably not. You've changed dramatically. Now here's the uncomfortable part: You'll change just as much in the NEXT 10 years. But you're making decisions TODAY as if future-you will want the same things. That's the problem. --- 📊 THE RESEARCH: Psychologists call this "The End of History Illusion." People acknowledge they've changed in the past but believe they won't change in the future. Studies show: • People underestimate personality change by 30-40% • Values shift more than people predict • Priorities transform unpredictably • Goals evolve constantly You KNOW you've changed. But you think you're done changing. You're not. --- 💔 HOW THIS DESTROYS PLANS: *Career Commitments:* Age 22: "I'll be a lawyer forever!" Age 35: "I hate law, but I'm stuck" Sunk cost of degree, years, identity *Lifestyle Choices:* Age 25: "I'll always want to live in this city" Age 40: "Why did I buy a house here?" Trapped by mortgage, job, commitments *Education:* Age 18: "This degree is my passion" Age 30: "I never use this degree" $100K student loans for career you abandoned *Savings Goals:* Age 30: "I'm saving for early retirement at 45" Age 43: "Actually, I love my career now" Sacrificed years of life for goal you no longer want --- 🎯 THE FLEXIBILITY SOLUTION: *Instead of asking:* "What do I want for the next 30 years?" *Ask:* "What can I commit to that keeps options open?" *Bad (Rigid) Commitments:* ❌ 30-year mortgage on expensive house ❌ Specialized degree with narrow job market ❌ Extreme lifestyle sacrifices for distant goal ❌ "I'll never do X" declarations 💬 THE UNCOMFORTABLE QUESTIONS: Ask yourself honestly: 1. What commitment did you make 10 years ago that you now regret? 2. What are you committing to now that future-you might regret? 3. If you could start over, what would you do differently? 4. How much flexibility have you built into your major decisions? 5. Are you sacrificing too much present for uncertain future? Your answers reveal whether you're planning for a stranger or for change. 🎯 PRACTICAL APPLICATIONS: *Before any major commitment, ask:* 1. "Can I reverse this if I change?" 2. "Am I assuming I won't change?" 3. "Is this sustainable for decades?" 4. "What exits exist if this becomes wrong?" 5. "Am I choosing intensity over endurance?" If answers concern you, reconsider the commitment. 💬 DISCUSSION QUESTION: What commitment did you make 10 years ago that you now regret? Drop it below 👇 No judgment. Mine: Bought house in city I no longer want to live in. Trapped by mortgage. Your turn. 🔔 SUBSCRIBE FOR THE SERIES: We're 70% through! 14 down, 6 to go. The final chapters tie everything together beautifully. 👥 FOLLOW WEALTHMINDAI: YouTube: @WealthMindAi Daily financial psychology + life planning wisdom ⚠️ DISCLAIMER: Educational content only. Not life advice. The point isn't to avoid commitments. It's to build flexibility into them so you can adapt as you change. 💬 COMMENT "CHAPTER 15" FOR NEXT BREAKDOWN! Chapter 15: "Nothing's Free" - Everything has a price (you just don't see the price tag) 👍 LIKE if you've regretted past commitments 🔔 SUBSCRIBE for the final 6 chapters 📤 SHARE with someone locked into bad decisions 💬 COMMENT "CHAPTER 15" for next WealthMindAi