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The Ups & Downs Of YOLO

The Ups & Downs Of YOLO

Egypt Today22-06-2025
'YOLO' ('You Only Live Once') was a term popularized in 2011, and ever since then, everyone has taken it as a mantra to live life to the fullest and take as many risks as possible.
While yes, some aspects in life do require us to jump the gun and be risky and fearless, sometimes, the line between risky and impulsive can be blurry, and we don't always have 20/20 vision.
When done wrong, 'YOLO' as a mantra can be destructive and lead to consequences we couldn't handle.
So, when do we embrace 'YOLO' and when do they say 'Not now'
For starters, this isn't the be-all and end-all guide to know when to go full risk taker, but it's a simplified version of understanding 'YOLO' and knowing how to embrace it or leave it.
So, the first thing you need to acknowledge is…
Is It The Right Timing?
Let's mention a simple example that demonstrates the concept of when to drop 'YOLO.'
Say you are at the end of the month and you have barely enough money till the next paycheck, only to see a huge sale on something you like to buy. Ask yourself this question: Is it a vital thing you need, or is it something you can buy later on?
So this time, there's no need to follow the 'YOLO' concept and be cautious about what you're going to do.
Are You Doing It For The Plot or Do You Need To Be More Adventurous?
Raise your hand if you put yourself in a situation that's too risky because you wanted to have an entertaining story, not because you've been waiting to do this thing.
I think it's safe to say that we've all been guilty of doing things 'for the plot,' not because we want to do them.
'YOLO' as a mantra is good if you want to get out of your comfort zone and try new things, but is it always the right thing to do?
Do you really need to try new things to get out of your shell, or is it a plea for attention and seeking thrills out of boredom, without thinking of the consequences?
Before jumping the gun, you should sit with yourself and wonder if your actions are based on being adventurous or reckless.
Are You In The Right Mental State to Apply 'YOLO'
In the first point mentioned above, I mentioned financial risk when applying YOLO, but what about the mental risk?
To fully embrace YOLO, being a risk taker and embracing yourself if things go south, are you okay mentally, and can you handle it when things don't go your way?
Risks and impulsivity require levels of carelessness and a calm state of mind.
It's not driven by irrationality or emotionality or having a weak state of heart and mind.
YOLO is about going all the way, betting it all like in a casino, willingly risking it all, either you win or lose, but either way, you have already embraced yourself to go in those directions.
So, before YOLO, you should be sure of yourself and in a peaceful state of mind.
After all said above, I cannot dissuade you from YOLO-ING, but I can give you a heads-up.
Risks are necessary and crucial, but you should at least know what's coming ahead.

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Hasan Minhaj says he once kept his money in shoeboxes — and wonders why he shouldn't hoard cash like Warren Buffett
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Hasan Minhaj spoke about keeping his savings in shoeboxes, why using money wisely is so hard, and Warren Buffett 's cash hoard on a recent episode of his podcast. The comedian, best known for his Netflix stand-up specials, laid bare his personal-finance anxieties and doubts about investing advice in a conversation with JL Collins, the author of "The Simple Path to Wealth," on "Hasan Minhaj Doesn't Know." "Money and finances have been something that were oftentimes fear-inducing and very painful for me growing up," he said. Minhaj, who rose to fame as a correspondent on "The Daily Show," recalled doing open-mic nights in Los Angeles as a young comic and being paid in cash or checks that he'd cash immediately. He kept the money in his room and wound up having $3,200 stashed in Nike shoeboxes. One day, he said his roommate walked in and asked, "Are you selling drugs?" Minhaj quickly dispelled him of that notion, but the friend then quizzed him on whether he had a checking account (he did, but only kept a small sum in there) or a 401(k) or Roth IRA to save for retirement (he didn't). That was a wake-up call for Minhaj, who realized he lacked a solid grounding in personal finance. The awakening led him to read Collins' book, and the author's three rules for money resonated with him: Spend less than you earn; invest your savings in an index fund; and avoid debt. Money problems On the podcast, Minhaj underscored to Collins how much temptation there is to "get rich quick" and squander cash. "My feed is a constant stream of financial grifters," he said. "I'm talking crypto bros, NFT scammers, affiliate link farmers, and pump-and-dump incels." Minhaj described the urge to spend money on nice things like iced coffees and vacations, and the YOLO mindset that the stock market could crash tomorrow and pinching pennies was pointless. He also lamented how his bitcoin buddies taunt him for missing out on the crypto boom, and how eking out a modest return from an index fund doesn't seem attractive when others have seen their wealth explode by owning tech stocks like Tesla or Nvidia. Collins responded that it's OK to splurge but be selective, and there have been many crises in past decades yet stocks have always recovered and reached new highs. He added that nobody has a "crystal ball" to see which bets will pay off and which will go to zero ahead of time. Minhaj also asked about Buffett choosing to hold more than $300 billion of cash in Berkshire Hathaway's coffers. Be more Buffett? "If Warren Buffett is sitting on cash and not VTSAX and holding, why are we?" he asked, referring to Collins' favorite holding, the Vanguard Total Stock Market Index Fund. "Why can't we be more like Buffett and just know that something bad is about to happen and maybe hold on to that bread?" Minhaj added. Collins responded by noting the legendary bargain hunter had been stockpiling cash not because he's predicting doomsday, but because he can't find enough compelling purchases to make. Minhaj added that as he approaches 40, he feels the competing forces of the "greed to make more money" and the "fear, holy shit, I could lose a lot of money," and asked how to reconcile them. Collins answered that staying the course and owning an index fund for the long term is the most surefire way to get rich and to avoid losing money. In short, he made it clear to Minhaj that the smart money isn't in crypto or shoeboxes, but in low-fee, long-term index funds that are the safest route to lasting wealth.

The Ups & Downs Of YOLO
The Ups & Downs Of YOLO

Egypt Today

time22-06-2025

  • Egypt Today

The Ups & Downs Of YOLO

'YOLO' ('You Only Live Once') was a term popularized in 2011, and ever since then, everyone has taken it as a mantra to live life to the fullest and take as many risks as possible. While yes, some aspects in life do require us to jump the gun and be risky and fearless, sometimes, the line between risky and impulsive can be blurry, and we don't always have 20/20 vision. When done wrong, 'YOLO' as a mantra can be destructive and lead to consequences we couldn't handle. So, when do we embrace 'YOLO' and when do they say 'Not now' For starters, this isn't the be-all and end-all guide to know when to go full risk taker, but it's a simplified version of understanding 'YOLO' and knowing how to embrace it or leave it. So, the first thing you need to acknowledge is… Is It The Right Timing? Let's mention a simple example that demonstrates the concept of when to drop 'YOLO.' Say you are at the end of the month and you have barely enough money till the next paycheck, only to see a huge sale on something you like to buy. Ask yourself this question: Is it a vital thing you need, or is it something you can buy later on? So this time, there's no need to follow the 'YOLO' concept and be cautious about what you're going to do. Are You Doing It For The Plot or Do You Need To Be More Adventurous? Raise your hand if you put yourself in a situation that's too risky because you wanted to have an entertaining story, not because you've been waiting to do this thing. I think it's safe to say that we've all been guilty of doing things 'for the plot,' not because we want to do them. 'YOLO' as a mantra is good if you want to get out of your comfort zone and try new things, but is it always the right thing to do? Do you really need to try new things to get out of your shell, or is it a plea for attention and seeking thrills out of boredom, without thinking of the consequences? Before jumping the gun, you should sit with yourself and wonder if your actions are based on being adventurous or reckless. Are You In The Right Mental State to Apply 'YOLO' In the first point mentioned above, I mentioned financial risk when applying YOLO, but what about the mental risk? To fully embrace YOLO, being a risk taker and embracing yourself if things go south, are you okay mentally, and can you handle it when things don't go your way? Risks and impulsivity require levels of carelessness and a calm state of mind. It's not driven by irrationality or emotionality or having a weak state of heart and mind. YOLO is about going all the way, betting it all like in a casino, willingly risking it all, either you win or lose, but either way, you have already embraced yourself to go in those directions. So, before YOLO, you should be sure of yourself and in a peaceful state of mind. After all said above, I cannot dissuade you from YOLO-ING, but I can give you a heads-up. Risks are necessary and crucial, but you should at least know what's coming ahead.

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