Post #1056 by OrmontUS on the Macroeconomic Trends and Risks board

Personal Finance Topics / Macroeconomic Trends and Risks ❤

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Borrowed from "Humble Dollar" newsletter:

On Dec. 31, 1759, Arthur Guinness signed a lease to take over a defunct brewery in Dublin. What was unusual was the lease’s term: 9,000 years.

It didn't take long before Guinness and his landlord both realized they’d made a mistake and agreed to end the lease. Guinness needed more space, and the landlord realized he’d neglected to account for inflation. The rent was fixed at Ł45 annually for the entire 9,000 years.

The Guinness case is notable because it’s so extreme, but it illustrates an important point: In making financial decisions, we should always look for ways to maintain flexibility. What does this mean in practice?

Jeff

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