Regret Minimization

The regret minimization mental model helps you make difficult decisions by projecting yourself into the future and looking back on the decision to be made.

Jeff Bezos once said, 

“I knew that when I was 80 I was not going to regret having tried this.”

Today you are your present self.

Tomorrow you are going to be your future self.  

The key to practicing regret minimization is to project into your future self.

This helps you make difficult decisions by placing yourself into that future situation.

For example, if you have a challenging task to do today, you can ask your present self what you want to do.

Your present self will say do it tomorrow.

If you ask your future self what you want to do, then you’ll say, do it today.

Consider how your future self will make a decision in addition to your present self. 

 

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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.