We learn the most influential things about money management from our parents, I believe. For some, this is an excellent resource and foundation, but for others, it can be a source of unhelpful habits.
I was raised on Bible verses like "The love of money is the root of all evil" and "It is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God." So you can imagine exactly how detailed my education in wealth-creation was. The interpretation I took from these verses was simplistic at best.
The "save some every paycheck and put it in the bank" was about as detailed as I got for investing advice. I grew up in the 70s, and there was actually some interest return on savings accounts then, but it still was outpaced by inflation, though I never had that explained to me.
Even today, I have to try not to glaze over when people start talking money and investment. But I'm doing the work and trying to better my own practices.
Once you figure out a formula to wealth creation, though, it does tend to bootstrap itself, just like a formula for poverty does. Reinvestment of earnings, accumulation of cash-flowing assets, creating of businesses, all work toward an upward trajectory of personal wealth.
Lest you imagine that I am only focusing on selfish wealth accumulation, let me offer this concept: If you really want to make a difference in the world, you'll have more ability to from a position of wealth than from a position of poverty.
Yes, some exceptional people leverage their poverty, and I don't criticize them for that. For some, that is their gift. Mother Teresa, for example, or Stan Brock of Remote Area Medical. They created systems that made it possible for donated wealth and donated skills to help others, but if nobody has wealth to give, they would have had a more difficult path and possibly made less of a difference.
For more reading, I enjoyed MJ DeMarco's book "Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship," because of his unflinching views on how the prepackaged life we're given is designed to limit us. It's especially helpful if people can read it in their 20s. Mr DeMarco's writing helped me adjust my thinking on wealth, though I have not yet taken full advantage of what he offers.
I hope you are all having a restful weekend. I was dragged to the beach. I tend to not get excited about such trips, but my girls all enjoy it greatly, and I enjoy their delight, so I'm here. And I'm getting some much-needed away time.
I want to thank each of you for your ongoing support of my channel. If you know someone who would also enjoy this sort of material, please invite them. I will leave this post up as public if you'd like to share it. I need another 14 supporters to upgrade this account with some improved features.
One Degree!
I'm on a weekend night call schedule this weekend, which always leaves me feeling under-rested and generally icky.
But I wanted to remind you that outdoor exercise without screens is really good for your mental health.
Go outdoors, preferably into the woods.
Get in tune with those surroundings, the sights, the sounds, the smells, even the movement of air and the varying temperatures as you walk.
We were made to be outdoors.
We were definitely not made to work in cubicles.
One Degree!
What you want from your body will dictate what you need to set as goals, and the goals will determine what you'll end up having to change to attain them.
I've spoken many times about systems being better than goals, and my position has not changed.
But goals are easier to discuss and to understand, so for this week, we'll be very specific about goals.
Do you want more muscle mass?
Do you want to be stronger?
Do you want to run faster?
Do you want to gain weight?
Do you want to lose weight?
Do you want to improve general fitness?
Do you want longevity?
Do you want strong bones?
Do you want to earn a Black Belt?
Understanding the benefits and costs of each particular goal may help you decide what you want.
For example, if you want to compete in body-building competitions, you'll not be doing the same thing as if you were focused on longevity. Same with strength competitions.
But general fitness and longevity go fairly well together.
Running is great but will increase the likelihood of needing knee or hip ...
I'll make this one short and to the point.
Spring time change is hard on all of us. Having to get up an hour early doesn't make going to bed an hour earlier much easier.
Yes, it's nice to have more productive time in the evening.
But it's at the cost of forcing us out of be an hour earlier, as we all know.
Our challenge is to adjust our circadian rhythm to match the world's expectations around us.
My main strategy is supplementing with a dose of melatonin about a half hour before I need to be asleep. It helps most people fall asleep more readily.
If you need a nap during your day, take it between mid-morning and early afternoon. Limit it to 20 minutes.
Taking a longer or later nap may make it even harder to get off to sleep in time.
All of the other normal advice applies even moreso: