Live Like A Billionaire – Risk Preference and Life Lessons

This series has been about learning from those without financial limits:

  • Who do they share their best moments with?
  • What are those moments?
  • Are we missing out?

Once I’m on the inside of the team, I notice that my risk preference is the lowest in the group. Frankly, not surprising when you are rolling alongside extreme skiers and mountaineers.

Here’s something about risk. Group risk rises to the level of the MOST risk tolerant member.

It’s why my investment committee has the rule “most conservative carries the decision.”

Anyhow, with two young kids and a pregnant wife, I had learned what I could and wanted to put more time into my young family.

So I opted out.

My boss…

>You firing me?

>>No, most definitely not. There is no way I will be able to repay you for what you taught me.

…and off I went for a decade.

Once again on the road less travelled.

Not over, yet – most of them took up Skimo.

😉


Let’s recap:

Best Days are defined by shared outdoor experiences with a small number of close friends – building memories that last

Peers & Teachers have a mix of kindness and competitiveness => notice this combination when you see it. These are people who tell us the truth, push us to do better and keep us grounded.

There’s nowhere to get to => I realized that between my wife, and my kids, I could create my own inner circle. A circle where we share Best Days and reduce our collective risk of ruin.

I remain grateful for the opportunity for a look behind the curtain.