You were probably exposed to Jordan Peterson the same way I was: a viral YouTube video. Prior to Google determining my unknown interest in such a “Gotcha!” moment I was preaching some of the same material as it pertained to financial matters.
Once a taste was received I was primed for more material. Peterson has an addicting style of speaking and teaching. He thinks before speaking—something an unnamed blogger still needs to work on. The amount of material to watch is extensive. There is less reading material, but Peterson’s work is powerful and has the tendency to consume a day in thought.
Peterson is misunderstood, many times intentionally. YouTube thinks I might like other similar topics regarding identity politics and feminist bashing. I don’t. By the time my research expanded to MGTOWs (men going their own way), incels (involuntary celibates) and other narrowly defined groups, I grew more and more disturbed.Read More
It happens to everyone: a business partner embezzles funds destroying the company and leaving you with the mess, an ex betrays your trust, a co-worker or supervisor harasses you. It is easy to get angry and fire from the hip. But reaction only makes it worse. To make matters even worse, the person who slighted you gets away clean while your response is dealt with harshly. There is something true to the adage: the second one to throw a punch gets caught.
There is a better way that doesn’t harm any party involved: success. Success is said to be the best form of revenge, but it only works if it isn’t done for traditional revenge reasons.
The German philosopher Friedrich Nietzsche said if your life has a why you can bear almost any how. This is a fancy way of saying your life needs purpose to strive for the important goals.
Money will drive you if your finances are in desperate straits. Once the basics are covered new motivations are needed to keep striving for goals. Sheer love of the process drives some, but this is the minority. The vast multitudes need something more, a prod to keep them moving forward.Read More
Rare is the decade where a capitalist society doesn’t experience an economic slowdown. Call it a soft landing, recession or depression, the results are the same with varying degrees. Economic slowdowns and declines are inevitable under capitalism.
Expansions are born from the depths of the previous economic decline. Inflation tends to be low and unemployment high. Pent up demand is waiting for an influx of goods and services to satiate desires. As businesses whittle down inventory, the recession eases. A glimmer of increased demand begins the cycle all over. Employment increases to meet demand. Eventually wages climb as the labor market tightens.Read More
But Musk knows money is not real wealth anymore than the scorecard in a bowling game is skill. Value must continually be created! He had to risk it all to do something of real value. His rockets are unique in their performance. Nobody has anything like it. Automotive manufacturers told us electric vehicles were not a viable option until Musk made it a reality. Now the simple-minded are playing catch up.
I don’t encourage mistakes. They happen easy enough on their own. But you should own your mistakes. Wear them with pride. They are a reminder you are human and remain motivated to create value. Scars are a badge of honor. When they lay you to rest, pray your skin isn’t smooth and soft. Pray to be covered in scars of experience. Yes, it is painful. But it is the only way to live life with meaning.Read More
The FIRE (financial independence/retire early) community is a growing demographic still trying to find its way. The FI part of the equation is easier to understand than the RE part. The issues revolve around the definition of retirement and what constitutes the appropriate lifestyle once FI is reached.
Some of the wealthiest individuals of the last half century provide an example. When Sam Walton was the richest man alive on the planet he still drove a beat up old pickup truck. He saw no reason to spend money on a new truck when the one he had was comfortable, did the job and gave him pleasure (a bit of a status symbol). In a recent interview with the Wall Street Journal, Warren Buffett confessed he has been semi-retired for decades. Charlie Munger, Buffett’s right-hand man at Berkshire-Hathaway, joked Warren is good at doing nothing.
Like Walton, Buffett doesn’t go for the extravagant spending so common among the rich. Buffett’s suit is off the rack and he eats at McDonalds. He also lives in the same home he bought in 1958.Read More
A common question in the FIRE (financial independence, retire early) community involves how much money you need to retire. Before I became a card-carrying member of the community I would hear the question something short of a dozen times per year. This blog means I hear the question a lot more these days. And people still don’t believe my answer.
There is a great misperception over how much money is needed to cash a check and walk your own path. I’ve consulted with 70 year old men worried they don’t have enough to retire. In the FIRE community younger people are more interested in the same question with a different set of rules.
Social Security changes all the rules. The 4% rule is wildly off the mark because they forget two simple facts; facts we will cover right now.Read More
From a young age I knew exactly wanted to do. Then I changed my mind.
Such is youth. My dad had different plans for me. My childhood was spent on the family farm and it was an awesome life. My dad owned an agricultural repair business and the plan was in place for me to slide right into the company. There was only one problem: I hated the work.
My children are now adults. One is in China while the youngest just graduated high school. My fondest hope was that at least one of the two would be interested in tax and accounting work. No dice.
Forcing your children into a family business is always a bad idea. The kids might love the work and they should then be welcomed with open arms if they do. But most kids don’t want to follow in their parent’s footsteps. Their dreams are different. Most often they follow their parent’s path because they don’t know where else to turn.Read More