If you’re under 35 try consider replacing all resolutions with equivalent make-more-money resolutions. Examples: Exercise more = +10k for a 3x/week personal trainer Eat better = +10-60k more for eating out at salad places/exec chef Learn stuff = +5k-15k for personal coach
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Why under 35? Because concentrating your mental resources on your comparative advantage creates a kind of high-drive exhausting raw energy positive feedback loop that I’ve only seen younger people handle well. And that loop is what creates the surplus to pay for other stuff.
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The older you are the greater the financial surplus you need to achieve the same level of attention concentration on a core positive feedback loop. Money is a more achievable kind of leverage when you’re younger though you need it more badly when you’re older.
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I’d need a million dollars today to achieve level of leverage I could have gotten with 100k in 2010. This is why for the average person, financial leverage drops with age. But we fixate on CEOs and entrepreneurs who buck that trend by making $-leverage faster than they are aging.
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For financially average people like me, you fall behind on that game, and solving problems with money stops being an option, because you’re not efficient enough as a cost structure to achieve much with the surplus you have. So do it while you still can.
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Counterintuitive but yes. That exec attention is more cdluable elsewhere when young and it’ll take a bigger, out-of-reach surplus to achieve similar reallocation efficiency when you’re older. Plus doing it when young installs stronger habits for later.https://twitter.com/_donny_dude/status/1212464168374358016?s=21 …
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tldr get rich young if you can. It’s both easier and more valuable.
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End of conversation
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My favourite description of what money: it reduces time between problem and solution.
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the mistake I see a lot of people do is to live like a monk and try to pay off debt as quickly as possible, but they could be leveraging that money in various ways to make even more money later...short term thinking / being too risk averse
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