I loved Die With Zero! Definitely helped me have a better relationship with risk at the point when I made the decision to start my company. Now or never. I knew it had to be now!
A friend, Tracy Collins, is a Canadian retiree who moved to Mexico. She's met a bunch of Americans/Canadians there who barely spend anything from their retirement funds.
I love this conversation about risk, especially in the context of personal finance. Mostly just cause it's fun to play devil's advocate... but a lot of us master one area of personal finance, such as "saving" or "diversification" and then it kinda stops there... because swinging big to build a company or buy apartments with a huge loan is fu**ing terrifying.
I do understand why people stay "stuck" in fear. What if the bad thing does happen? When then? No one has the answer... not even the gurus. I guess your only true compass is your heart.
I read Die with Zero last year. It has had a big influence on how I view life. My children have benefited because I read this book. I can tell you that the biggest risks I took several times in my life paid out much higher than any of the play it safe moves. Looking back I would have taken more risks. I’m just glad we took the ones we did. 4000 Weeks was the other book that helped me see life for what it is. My latest read is Rest by Alex Soojung-Kim. It’s looking like it’s going to go on my re-read shelf. I’m pretty happy with my future planning so I will be steering clear of risky behaviour. Slow growth in all areas of my life along with some challenges keeps me happy. But I am a lot older than you.
In _some_ ways, creating independent sources of income can be safer than relying on an employer.
Also, the Jim Carrey quote:
> “My father could have been a great comedian, but he didn’t believe that was possible for him, and so he made a conservative choice. Instead, he got a safe job as an accountant, and when I was 12 years old, he was let go from that safe job and our family had to do whatever we could to survive.
> I learned many great lessons from my father, not the least of which was that you can fail at what you don’t want, so you might as well take a chance on doing what you love.”
I loved Die With Zero! Definitely helped me have a better relationship with risk at the point when I made the decision to start my company. Now or never. I knew it had to be now!
Nice, I'm glad you're doing it.
I know I don't get to see the internal struggle, but from the outside, it looks like you're such a great fit for what you're doing.
I know the book and it's spot on. A number of retirees are scared to death of selling their investments. They keep working part-time. That's insane.
Can you elaborate on what you've seen and what you mean?
You're saying that you've seen people who've accumulated enough, and they should relax more?
See if you can access this post on Medium: https://medium.com/crows-feet/spending-your-retirement-savings-is-an-unexpected-mind-bender-33c791b06031.
A friend, Tracy Collins, is a Canadian retiree who moved to Mexico. She's met a bunch of Americans/Canadians there who barely spend anything from their retirement funds.
Oh ok. I'm not a Medium member but I hear you. Thanks!
I love this conversation about risk, especially in the context of personal finance. Mostly just cause it's fun to play devil's advocate... but a lot of us master one area of personal finance, such as "saving" or "diversification" and then it kinda stops there... because swinging big to build a company or buy apartments with a huge loan is fu**ing terrifying.
I do understand why people stay "stuck" in fear. What if the bad thing does happen? When then? No one has the answer... not even the gurus. I guess your only true compass is your heart.
For me, the scariest decisions are the irreversible ones, like whether to have a kid.
Most decisions are a 2-way door.
If something goes really badly, you can usually reverse your stance to some extent and cap your losses.
I'm trying to explore those possibilities more.
Where’s your little note!
I read Die with Zero last year. It has had a big influence on how I view life. My children have benefited because I read this book. I can tell you that the biggest risks I took several times in my life paid out much higher than any of the play it safe moves. Looking back I would have taken more risks. I’m just glad we took the ones we did. 4000 Weeks was the other book that helped me see life for what it is. My latest read is Rest by Alex Soojung-Kim. It’s looking like it’s going to go on my re-read shelf. I’m pretty happy with my future planning so I will be steering clear of risky behaviour. Slow growth in all areas of my life along with some challenges keeps me happy. But I am a lot older than you.
Your post at https://substack.com/@valspiers/note/c-54045404?utm_source=activity_item reminds me of other points I meant to mention.
In _some_ ways, creating independent sources of income can be safer than relying on an employer.
Also, the Jim Carrey quote:
> “My father could have been a great comedian, but he didn’t believe that was possible for him, and so he made a conservative choice. Instead, he got a safe job as an accountant, and when I was 12 years old, he was let go from that safe job and our family had to do whatever we could to survive.
> I learned many great lessons from my father, not the least of which was that you can fail at what you don’t want, so you might as well take a chance on doing what you love.”
Ha, I couldn't think of what to write on a note this time, and I felt like it was slowing me down too much, so I just snapped a photo.
I love your thoughts and am interested to check out the books. Which "4000 Weeks" book? This one? https://amzn.to/43XZ84H
Mine is the Oliver Burkeman
Cool, https://amzn.to/3Jk4JZB, thanks