Must Read on Pocket

This is one of the most-saved, read, and shared stories on Pocket.

Recommendations from Pocket Users

Ablorde Ashigbi

Shared February 28, 2016

When Warren lectures at business schools, he says, “I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches—representing all the investments that you got to make in a lifetime. And once you’d punched through the card, you couldn’t make any more investments at all.”


He says, “Under those rules, you’d really think carefully about what you did and you’d be forced to load up on what you’d really thought about. So you’d do so much better.”

Thomas Le Coz

Shared March 8, 2016

Nice short read :)

Jonathan Yagel

Shared July 30, 2017

Good conceptual framework to consider, when making plans. However, it seems that some low-commitment experimentation is worthwhile, to vet opportunities, before going all in.

Chih-Wei Hsu

Shared August 16, 2017

If you take a look around, you'll notice very few people actually go “all in” on a single skill or goal for an extended period of time.

Rather than researching carefully and pouring themselves into a goal for a year or two, most people “dip their toes in the water” and chase a new diet, a new college major, a new exercise routine, a new side business idea, or a new career path for a few weeks or months before jumping onto the next new thing.

In my experience, so few people display the persistence to practice one thing for an extended period of time that you can actually become very good in many areas—maybe even world-class—with just one year of focused work. If you view your life as a 20-slot punchcard and each slot is a period of focused work for a year or two, then you can see how you can enjoy significant returns on your invested time simply by going all in on a few things.

My point here is that everyone is holding a “life punchcard” and, if we are considering how many things we can master in a lifetime, there aren't many slots on that card. You only get so many punches during your time on this little planet. Unlike financial investments, your 20 “life slots” are going to get punched whether you like it or not. The time will pass either way.