S26EP26|你以為槓桿會害你爆掉，其實讓退休翻車的是一路太保守

■Foreword When leverage is mentioned, many people's first reaction is danger. Don't borrow money to invest, don't use leverage, and avoid highly volatile assets—it seems like that's the safest approach. This intuition isn't entirely wrong, because leverage does amplify volatility and can also create stress. However, the lifecycle investing approach aims to remind us not just of leverage itself, but of the location of risk. Being conservative when you're young may not eliminate risk, but rather postpone the risk of insufficient assets until retirement. The truly terrifying risk is discovering you lack sufficient principal when you have the least time, the least active income, and the least tolerance for mistakes. Outline 1. Common Misconceptions about Conservatism 2. Sequential Risk is the Real Retirement Killer 3. Lifecycle Investing in Risk Management 4. The Mathematical Logic of Taking Risk in Youth 5. Leverage and the Test of Human Nature 6. Being Too Conservative Can Also Be a Risk 7. Is it Necessary to Reduce Leverage Once Assets Are Large Enough? 8. Conclusion: Finding Your Own Suitable Risk Timeline Keywords #LifecycleInvesting #LeveragedInvesting #RetirementPlanning #SequentialRisk #AssetAllocation #Principal #RiskManagement #FinancialFreedom #LongTermInvesting #InvestingMindset Episode 734, Recorded 2026/05/16 #WillyReadingUnit YouTube Search: Willy's Financial Corner | Podcast Search: Awesome_Money Watch Channel Membership Program: https://cutt.ly/HeRTJFB2 Join Channel Membership: https://cutt.ly/zwTJf5e0 Fanggezi: https://vocus.cc/willy03/home Blogger: https://katono5566.blogspot.com/ Program Line Community: https://forms.gle/CabjyDhux35utmyU9