Tag

happiness

Early Retirement, Lifestyle, Small Business

Embrace Failure

Show me a successful person and I’ll show you someone with deep seated pain. Pain is a powerful motivator. Few can reach lofty heights and keep pushing without underlying pain driving them forward.

Steve Jobs said you have to be “. . . insane to do this. . . ” when he discussed why he worked so hard to achieve so much because “. . . it hurts so much.” He expanded the insanity to include all successful people. It doesn’t matter what it is you are the best in. Being the best and marching forward after attaining the top is an exercise in pain regardless the field.

Some are satisfied with “good enough”. They are the lucky ones. Normal people attain a certain level of success and sit back and enjoy it. You see these people everywhere. They are the upper middle class people lucky enough to have reached the level of “having it” or “made it” without the grinding pain from earlier in life driving them on.

Then there are the people we see in the news on a regular basis. These are the business leaders and entertainers who never are satisfied with their performance even when they have reached so high they have cut new ground. They climbed to the top of the mountain and started building the mountain higher. What drives these people? And are you one of them?




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Early Retirement, Lifestyle, Small Business

You’re Using the Wrong Definition for Retirement

Students are ready.

Old dogs can learn new tricks. Preconceived notions are not reality or facts.

Several years ago life was going fine for me. Business was good, the sky was sunny and I thought I had a firm grasp on how the world worked. An avid reader, I chanced across a blog that pulled me in deeper than any before. Normally I read several blogs with no blog standing out from the crowd. I digest what I can and move on. Then along came Mr. Money Mustache.

Some blogs are better than others. Quality is frequently an issue, but personal taste is too. To make matters worse, this Mustache guy had a serious following. High quality suited to my tastes with a massive audience started me questioning some of those preconceived notions.

Most issues I was in complete agreement with. There was one stand-out: retirement and what the word meant. At first I had an identity crisis. Was I really retired all along and didn’t know it? Is it wrong to have gainful employment?

The only way to figure this thing out was to attend personal finance conferences with like-minded people. That was two years ago. In the beginning it made the confusion worse and the crisis more acute. Then I developed my own definition of retirement to suit my needs. Finally, last weekend, I made what I feel is the final leap in my evolution toward a retirement definition I can use in my personal life.




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Camp Mustache IV Roundup (Seattle)

The view from the top of Mt. Si.

There has never been a conference I didn’t learn something from. Camp Mustache IV in Seattle this past weekend was the best ever for learning. Others may have had a different experience. Where you are on your journey determines how valuable a conference like Camp Mustache is.

Two years ago I attended my first ever Camp Mustache. My goals were simple. I wanted to meet Pete, Mr. Money Mustache himself, and make a business proposition. It went better than expected which is why I am here and you are reading this.

Unfortunately, my mind was on business so I missed most learning opportunities save one: humility. I went into Camp overconfident in my abilities and had no clue how smart Mustachians are. My thought was to offer my services in a breakout session on taxes. This was the highlight of my first Camp Mustache. I achieved something I hadn’t planned on and it was a whopper. Mr. Money Mustache was now my client! How awesome is that?

Later I carried out my original goal and shared the business proposition with MMM. He didn’t care enough for the idea to take it on, but graciously offered to promote the idea on his site for me. Once again, how cool is that?




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Increase Your Success at Anything with Warren Buffett’s “20-Slot” Rule

Charlie Munger

The best way to learn is by studying the best. Experience has value as long as it also has a foundation in knowledge. Reinventing the wheel again and again is a fool’s errand and not conducive to personal development.

Studying the best takes many forms. Working for someone at the top of their game is the best way to learn, but the opportunities to do so are limited. Formalized education communicates facts without always presenting the best in your selected field. The number one way to learn from the masters is to study them through intense research of their work. The greatest minds are available like never before. YouTube videos of their speeches and books and news articles on their practices give us massive quantities of material to learn from.

Today we will focus on a simple story shared by Charlie Munger, Warren Buffett’s friend and right-hand man at Berkshire Hathaway.




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Your Money or Your Wife

Divorce and money.

Warning: What you are about to read will be disturbing to many. Women and children should leave the room now. Men with a queasy stomach should also take a step back. It’s been two weeks since I dropped the f-bomb. The drought is over. I will use the f-bomb today in its correct dictionary definition to illustrate an important issue. This post is so volatile LinkedIn will not allow you to post this to their site even though your life depends on it. Facebook is good with it, however.

Money is the leading cause of divorce in the United States and in most Western countries. Marriages survive infidelity better than money problems. The worst part is how expensive divorce is and since money issues are the leading cause of divorce, it doesn’t solve the problem.

Then we need to think of the children. They suffer disproportionately. Adults have at least some control over their actions and the outcome. Children are helpless victims in the middle of elevated negative emotions. The damage is significant and lifelong.

Every marriage has its challenges. Forty-one percent of first marriages end in divorce. Abundant data on divorce exists, but there are large discrepancies in some of the data. It is also hard to put an exact number on the percentage of marriages that will end in divorce when the married couple are still alive. Using the number of divorces in a year compared to the number of marriages is useless. Still, many marriages end in divorce, statistics aside. Money is a large factor in divorce and divorce only exacerbates money problems.




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Tough Times Make You Rich

Berkshire Hathaway Inc. held their annual meeting this past weekend. Warren Buffett noted some of his failures over the previous decades (missing Amazon, for example) and Charlie Munger added Google as a big miss. Both men agreed they’d continue missing many opportunities in the future. Buffett and Munger made it clear they learn more from their mistakes than from their successes. They felt winning was a poor teacher as it fooled people into thinking they were right.

Steve Jobs had some Syrian blood and was raised by adoptive parents. Armed with only this information it would be hard to imagine a path that would lead to Jobs creating a company which would become the largest on the planet by the time of his early death at age 56. The odds were stacked against Jobs, yet he rose above the travails and changed the world.

Elon Musk was born in South Africa. His parents divorced when he was nine. It would be hard to see a path for this young boy where PayPal would be part of his future followed by SpaceX, Tesla, Solar City and a growing list of additional companies.

Tough times. We hear about them all the time. Rarely is found a successful person who doesn’t have baggage in the closet. Show me someone who never had problems and I’ll show you someone who is mediocre. The exceptions are exceedingly rare.

Yet, most people have hard luck stories in their past. Why does a difficult time in life, especially early on, define so many successful people? And why do people with the odds stacked in their favor frequently end up average at best?


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Your Garbage is Killing Me

Dreams are what make life worth living. As the years stack up we can look back at our lives and see the progression as life moves toward where we are today. Mistakes of yesteryear lose the edge of anxiety while still providing plenty of experience to draw from. What seemed like a good idea back then is painfully obvious today.

And then there are the things which blindside us. A perfect plan executed with precision yields the results we want before life throws one of the curve balls we hear so much about. Today’s story is about a man, me, who did everything right in this instance and still took a swift foot to the crotch.

So the record is straight, it’s your fault. Well, not exactly your fault unless you live in NE Wisconsin, but still your fault because you did it in your own community. Shame on you for acting the way you do. The worst part is you hurt neighbors and friends and now it will be your turn to stand still with feet slightly apart as the community takes a running start as they drive their foot home.

You’re not going to like what I have to say, but you must hear it. This is important. Your happiness is at stake.




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Conclave

JL Collins is more photogenic than he lets on.

The wealthy, well-connected and powerful have controlled the masses by colluding in secret meetings as long as civilization has existed. The powerful retain and expand their hold on governments and common folk as a result.

Power works best when it plans and executed from the darkness, far away from hidden eyes. Some secret societies have become well known. The Illuminati is now a household word, even if their actions are still closely guarded. Other groups are known, but details are completely missing.

The wealthy have a habit of meeting around the world. These gatherings are media events. News outlets are eager for any droppings they can publish. All the good stuff never leaves the room

You probably heard of some of these groups. People in finance are well aware of the meetings in Davos and Geneva every year. The Bilderberg Group is less known, but no less powerful.

The wealthy and powerful control the masses by controlling the economy and determining which nations face war. Until now these secret societies and loosely formed groups of powerbrokers had no competition. Today that has all changed.




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