Steven

And it would be easy to look at someone like me and say, Morgan, if you were on your deathbed tomorrow, you'd probably regret the vacations you didn't take and the dinners you didn't have, right? You'd regret that. My answer is absolutely not. Because if I was on my deathbed tonight, I would take so much joy knowing that my wife and kids are going to be okay because of what I saved.

And it would be easy to look at someone like me and say, Morgan, if you were on your deathbed tomorrow, you'd probably regret the vacations you didn't take and the dinners you didn't have, right? You'd regret that. My answer is absolutely not. Because if I was on my deathbed tonight, I would take so much joy knowing that my wife and kids are going to be okay because of what I saved.

That would be the worst situation I would be in is on my deathbed and looking at my wife and kids and knowing you guys are screwed. I'm leaving you dead. you know? And so, but that might change as I get older. And so when my kids are hopefully financially self-sufficient, will I still think that?

That would be the worst situation I would be in is on my deathbed and looking at my wife and kids and knowing you guys are screwed. I'm leaving you dead. you know? And so, but that might change as I get older. And so when my kids are hopefully financially self-sufficient, will I still think that?

You know, will I still have that need to be like, I need to work and save to provide for my young kids. That's not going to last forever. So it'll change throughout your life.

You know, will I still have that need to be like, I need to work and save to provide for my young kids. That's not going to last forever. So it'll change throughout your life.

There's no worse nightmare than that. I think there's an opposite of that, which is in several of the books and studies that have been done on dying, there are quite a few people who have very peaceful deaths, people who know they're going to die of terminal illness, and they're pretty much at ease with it. And when you dig into like, what is those people's psychology?

There's no worse nightmare than that. I think there's an opposite of that, which is in several of the books and studies that have been done on dying, there are quite a few people who have very peaceful deaths, people who know they're going to die of terminal illness, and they're pretty much at ease with it. And when you dig into like, what is those people's psychology?

How do you know you're going to die in six months and you're kind of at ease with it? One of the big factors is knowing that your family is going to be okay without you because they are sufficient and they don't rely on you for wisdom and advice as much as they can take care of themselves.

How do you know you're going to die in six months and you're kind of at ease with it? One of the big factors is knowing that your family is going to be okay without you because they are sufficient and they don't rely on you for wisdom and advice as much as they can take care of themselves.

But the opposite, if you're on your deathbed and you're like, my children, my spouse is going to have a real hard time without me. That's the most painful thing you can imagine.

But the opposite, if you're on your deathbed and you're like, my children, my spouse is going to have a real hard time without me. That's the most painful thing you can imagine.

Between the two. Between my friend who buried himself in credit card debt, even though I'm glad he did it given his short life, versus the people who save everything for the end. David Cassidy, who's a very famous childhood actor and had an incredible acting career. I don't know when he died, 10 years ago, 15 years ago, whatever it was. His last words were, so much wasted time.

Between the two. Between my friend who buried himself in credit card debt, even though I'm glad he did it given his short life, versus the people who save everything for the end. David Cassidy, who's a very famous childhood actor and had an incredible acting career. I don't know when he died, 10 years ago, 15 years ago, whatever it was. His last words were, so much wasted time.

Those were his last words. And like you think about – and this is someone who is like very rich and famous, had like a very enviable life. And you can't think of sadder last words than so much wasted time.

Those were his last words. And like you think about – and this is someone who is like very rich and famous, had like a very enviable life. And you can't think of sadder last words than so much wasted time.

And I think like no matter – this is like the Jeff Bezos philosophy on business was he started Amazon because he was trying to imagine himself at age 90 looking back and having the fewest regrets. He was like, that should be your framework for life is that when you're on your deathbed, you have the fewest regrets possible.

And I think like no matter – this is like the Jeff Bezos philosophy on business was he started Amazon because he was trying to imagine himself at age 90 looking back and having the fewest regrets. He was like, that should be your framework for life is that when you're on your deathbed, you have the fewest regrets possible.

And he did it because he was like, if I don't start Amazon, I'm going to regret it. But if I do start Amazon and it fails, I won't regret that. So just understanding like I think that's a good philosophy. That's probably the broadest definition of risk. is understanding what you're likely to regret in the future. And I don't think anyone has a perfect calibration on that.

And he did it because he was like, if I don't start Amazon, I'm going to regret it. But if I do start Amazon and it fails, I won't regret that. So just understanding like I think that's a good philosophy. That's probably the broadest definition of risk. is understanding what you're likely to regret in the future. And I don't think anyone has a perfect calibration on that.