Opportunity Cost; The loss of potential gain from other alternatives when one alternative is chosen, a trade-off. What are you trading money or time or happyness for? Have you taken the time to evaluate the “Opportunity Cost” of one thing for another? How about that new car but we'll have to take fewer vacations. I want to be a doctor, and I know this will take at least 10 years of schooling and training, what other opportunities could I be missing? These are the thoughts and ideas we tackle in this episode.
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