The point of making money is to be comfortable enough to do the things you like and be able to have optionality.
If you're constantly battling for the upside, then the option to slow down and enjoy yourself is removed from the list of options.
It doesn't matter if I ever become famous or known or do anything great. The key is to enjoy yourself and be able to do the things you like and maybe even add to that list and have fun doing it.
I've read all your writing and enjoy it. Keep it up.
I am sure many of you have heard the story below, and it is mentioned in Bogle’s book enough:
“Joseph Heller, an important and funny writer now dead, and I were at a party given by a billionaire on Shelter Island.
I said, “Joe, how does it make you feel to know that our host only yesterday may have made more money than your novel ‘Catch-22’ has earned in its entire history?”
And Joe said, “I’ve got something he can never have.”
And I said, “What on earth could that be, Joe?”
And Joe said, “The knowledge that I’ve got enough.”
If the life goal is “Whoever dies with the most toys wins? Then, the person should pursue wealth. However, I believe for most people, the above story from Joseph will be a better way to live rather than making money the only goal in life.
However, the most challenging part is to figure out how much is enough since the goalpost keeps on moving. I think we should enjoy life some and not wait for some artificial goal such as retirement or another milestone, as the euphoria of the milestone does not last a long time, and we start thinking about the next milestone as soon we achieve one and do not enjoy what we have accomplished.
I think the quote below sums it up nicely:
“The purpose of life is to be useful, to be honorable, to be compassionate, to have it make some difference that you have lived and lived well." — Ralph Waldo Emerson
Thanks for this: "Every once in a while, you run into these people who go into business and fail because they simply don’t charge enough. Why don’t they charge enough? Well, the reasons are complex, but at the core of it, they just don’t feel as if they’re worth it. It’s a self-esteem issue more than anything. " I've been struggling to decide what to charge for subscriptions to my blog. For two weeks now I've debated it in my head but this really helps.
Wanting money is important, knowing how to get it is a bit different.
From my view, all the “how” one person get it and others don’t comes down to LEVERAGE.
Specifically I break it out into No Leverage (e.g. low level service, labor), Low Leverage (e.g. doctors, lawyers), and High Leverage e.g. founders, owners, investors).
The point of making money is to be comfortable enough to do the things you like and be able to have optionality.
If you're constantly battling for the upside, then the option to slow down and enjoy yourself is removed from the list of options.
It doesn't matter if I ever become famous or known or do anything great. The key is to enjoy yourself and be able to do the things you like and maybe even add to that list and have fun doing it.
I've read all your writing and enjoy it. Keep it up.
I am sure many of you have heard the story below, and it is mentioned in Bogle’s book enough:
“Joseph Heller, an important and funny writer now dead, and I were at a party given by a billionaire on Shelter Island.
I said, “Joe, how does it make you feel to know that our host only yesterday may have made more money than your novel ‘Catch-22’ has earned in its entire history?”
And Joe said, “I’ve got something he can never have.”
And I said, “What on earth could that be, Joe?”
And Joe said, “The knowledge that I’ve got enough.”
If the life goal is “Whoever dies with the most toys wins? Then, the person should pursue wealth. However, I believe for most people, the above story from Joseph will be a better way to live rather than making money the only goal in life.
However, the most challenging part is to figure out how much is enough since the goalpost keeps on moving. I think we should enjoy life some and not wait for some artificial goal such as retirement or another milestone, as the euphoria of the milestone does not last a long time, and we start thinking about the next milestone as soon we achieve one and do not enjoy what we have accomplished.
I think the quote below sums it up nicely:
“The purpose of life is to be useful, to be honorable, to be compassionate, to have it make some difference that you have lived and lived well." — Ralph Waldo Emerson
Humans are great at chasing things that won’t actually make them happy
Thanks for this: "Every once in a while, you run into these people who go into business and fail because they simply don’t charge enough. Why don’t they charge enough? Well, the reasons are complex, but at the core of it, they just don’t feel as if they’re worth it. It’s a self-esteem issue more than anything. " I've been struggling to decide what to charge for subscriptions to my blog. For two weeks now I've debated it in my head but this really helps.
Wanting money is important, knowing how to get it is a bit different.
From my view, all the “how” one person get it and others don’t comes down to LEVERAGE.
Specifically I break it out into No Leverage (e.g. low level service, labor), Low Leverage (e.g. doctors, lawyers), and High Leverage e.g. founders, owners, investors).
More thoughts on this here:
https://newsletter.thewayofwork.com/career-leverage