The habit of questioning financial assumptions #Habits

20 Oct 2020 · 1 min

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TJ Walker urges independent thinking in personal finance by adapting Peter Thiel's interview question: identify one important financial truth you hold that others in your income bracket do not. He argues that following common spending norms often leads to debt and uses his personal decision to sell his home and never own another as an example of questioning the received wisdom that home ownership is inherently desirable.

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High tech investor Peter Thiel famously asked people during job interviews what's one important truth that you hold that other people don't. He's trying to look for people who are independent thinkers. I think that's a good practice in a lot of areas of life, especially personal finance. That's my question to you. What is one thing that you think is true that most people in your financial income bracket don't? Most people, if they just buy everything else that other people in their income bracket think is important, end up with no money or in debt. If you can question certain things and then not spend money on it, you will be much better off financially. Personally, everyone I know owns a home. I think it's crazy to own a home. I just sold my home and I'm so excited. I will never own a home again. It's going to save me a fortune. What's one financial truth for you different from what everyone else thinks.