Money's greatest intrinsic value - and this can't be overstated - is its ability to give you control over your time . To obtain ,bit by bit, a level … - Morgan Housel

Money’s greatest intrinsic value — and this can’t be overstated — is its ability to give you control over your time.

So rather than assuming long-term thinkers don’t have to deal with short-term nonsense, ask the question, “How can I endure a never-ending parade of nonsense?” Long-term thinking can be a deceptive safety blanket that people assume lets them bypass the painful and unpredictable short run. But it never does. It might be the opposite: The longer your time horizon, the more calamities and disasters you’ll experience. Baseball player Dan Quisenberry once said, “The future is much like the present, only longer.” Dealing with that reality requires a certain kind of alignment that’s easy to overlook.

A plan is only useful if it can survive reality.

In theory people should make investment decisions based on their goals and the characteristics of the investment options available to them at the time. But that’s not what people do.