When we make a decision, we often think about the immediate costs—the dollars spent, the resources used. But what about the cost of what we didn’t choose? This is where opportunity cost comes in, and it’s more significant than we often realize.
Opportunity cost is all about understanding the value of the next best alternative that we forgo when we make a choice. For instance, if you decide to invest in a steady bond, the opportunity cost is the potential gains you’re sacrificing by not investing in stocks, which historically offer higher returns.


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