Sunday Summary 8 May 2022

Workouts & Working Out

True Wealth

Productivity

How Wealth Endures

2020-02-11 12.19.27

Over time, human nature does far more to address income inequality than the policies of your favorite politician.

Families that succeed across generations have certain traits we can learn from. While you can’t control your birth situation, there is a lot you can do to influence family wealth.

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My great-grandfather was one of the wealthiest men in Canada and I have an early memory of seeing him on the cover of Fortune magazine. Down my branch of the family, the magazine cover endured longer than his finances, which found their way back to society within two generations.

On the other side of my family tree, my great-great-grandfather was wealthy, but not cover-of-Fortune wealthy. A small amount of his money will eventually pass through to my children. I get a kick out of this as he was born in the mid-1880s.

Living rich is different than living well and it takes generations for this difference to become apparent.

2020-02-09 14.12.13

A favorite quote, “there has never been a more expensive time to be rich.”

Dropping this gem will likely get you a smirk and an eye roll from most young people. However, it touches on a truth of our time and provides a warning to wealthy families.

Over the last 40 years, a billion people have been lifted out of extreme poverty. Lifting the bottom of the wealth curve has impacted the top of the curve.

While we were lifting hundreds of millions out of poverty, “the rich” started to live differently. Morgan Housel’s article touches on these changes and reminded me of a valuable legacy from my great-grandfather (the one on the Fortune cover). A non-financial legacy that made it four-generations down my family tree.

Camping.

The fondest memories of my childhood happened at a YMCA summer camp. A camp largely unchanged from when my uncles attended 20 years before me.

40 years on, I ask myself:

Am I willing to constrain myself to get a better outcome for my children’s future selves?

Somewhere between childhood and adulthood, you may develop “requirements” that increase your baseline cost of living. Your “requirements” are your business. However, know that your luxuries will become your children’s baseline.

These cultural baselines have unintended consequences in family systems. The kids who can keep up with their spending aspirations have a greater risk of neglecting their families in favor of money. The kids who can’t keep up are more likely to reject you, to protect their self-identities.

I’ve known five generations of my family and have witnessed this pattern across each generational transition => the increasing spending of the ascendant, and the pain as the descendant fall out of their childhood demographic.

I believe there is a better way.

I’m going to offer three areas for you to consider.

I’ve made mistakes in each area. Having kids later in life (highly recommended), the main people who have had their values skewed by my errors are my wife, and myself.

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The three areas are vacations, housing and education.

Your first filter is to ask: Are we living well, or are we living rich?

To keep yourself honest, search for your reaction when other people live a certain way.

2020-02-09 10.39.37

VACATIONS

Cultivate interests that hedge your need for cash flow.

Camping, driving distance from home, has a very different long term cash flow impact than Surfing in Kauai, via private jet.

I’ve spent a small fortune trying to make family trips work (catamaran charters, seaplanes, traveling staff, ship’s captain with deckhand).

Everyone had a blast but what did I achieve?

I increased the hedonistic baseline for my wife, my kids and myself. Not a big deal to make a mistake. However, if I create a habit then what happens when three kids, and five grandkids, scale my choices across their lifetimes?

Simple, one-on-one trips in nature is where I focus these days.

We will come back to the scaling effect.

2020-02-09 07.54.22

HOUSING

Housing is the most consequential capital purchase most of us will make and it’s a tricky one because of the changes happening in many of the places where we grew up.

My wife and I went to high school in cities (Boulder/Vancouver) where many of the graduates are unlikely to be able to afford to live in their childhood homes. The winners of global wealth creation have bid up local real estate values.

My notional share of my great-great-grandfather’s estate is about $100,000. Money that would have proven very useful if I had chosen teaching, rather than finance, for my first career.

If you ask my seven-year old what type of house she’d like to live in then she’ll describe something that looks a lot like my grandparent’s homes: 1,500 sq ft per person, swimming pool, grounds… you name it. She’d put us into a 7,500 sq ft mansion with seven bathrooms.

She’s not alone. As soon I as I had the cash, I bought myself a monstrous house. Buying at the top of the market, I was lucky to avoid financial disaster.

Am I willing to constrain myself to get a better outcome for my children’s future selves?

Yes I am.

Coming out of the last recession, we downsized and bought two rental properties in our school district. I’m positioning the family to do a similar thing coming out of the next recession.

The kids were disappointed to learn that the next house was going to be smaller but I’ve been watching what they do, rather than their aspirations. When my kids can pick, they want all of us jammed into a bunk room => they love a seething, noisy mess!

Beware of the preferences of others and pay attention to where you are happiest, rather than what you think you should like.

What you don’t see when you “get the house” is the life you don’t lead as a result of living there. The time you don’t spend together, the energy spent managing a large asset you don’t need.

Once again, these lost opportunities for connection scale across time for your grown children and grandchildren.

2020-02-07 12.30.10

EDUCATION

Graduate debt-free with skills enabling you to get paid

This implies a few things:

  • working in high school, and for a long time thereafter
  • public education, as long as possible
  • parents who are willing to let you fail, experience poverty and learn from your own mistakes

Unless your family is exceptionally wealthy, or you are an outstanding student, you are going to be much better taking the bulk of your family’s education dollars and investing them over a 20-25 year time horizon. The goal being to enable your family to (continue to) live in a great public school zip code.

For example, the Boulder Valley School District isn’t (yet) priced out of reach. BVSD just built a school in the eastern part of the county and we have strong political support for local investment in education.

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Are you seeing how all of this fits together?

  • Moderation of spending, regardless of being able to afford it
  • A modest allocation in personal real estate assets
  • Over time, yields long-term capital within the family system
  • A focus on helping the family stay local and avoid shackling themselves with education loans
  • When graduating debt-free, young adults repeat the cycle

This works so long as everyone pays their own way, for the way they wish to live.

Collectively, the family system avoids subsidies towards personal consumption.

Each branch, and generation, of the family defines their values, and lives with the consequences of their choices.

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Further Reading

Tips for Getting Jacked 2017

Everything about my life is better when I am strong.

I wanted to pass along what worked across my six month campaign of Getting Strong.

#1 – the biggest change, and challenge, for an endurance athlete… cap your cardio sessions at an hour and drop all group training. No more than two cardio sessions per day but you can walk around as much as you like! This is the only way I save the mojo to truly push myself in the gym and get-it-done.

#2 – add plyometrics // the leg blaster program that I used is here – combine with traditional gym work (focused on squats and leg press) – total time investment for the plyometrics was 12 hours over six months – outstanding return on investment!

#3 – track total movements // my plyometric routines built up to 420 movements in 15 minutes – during base training, my traditional exercises were focused on getting to 100 movements per exercise (sets of 20-25 reps with short rest) – the total gym session would be 400-500 movements (during base/prep training) – I did best my splitting plyometrics away from lifting days.

#4 – use a four-day cycle // for example…

  • Base; Cardio; Plyo; Cardio
  • Heavy Legs; Plyo; Cardio; Cardio
  • Upper Body Blaster; Maintenance Legs; Plyo; Cardio

#5 –Ā gains come from working the legs // my entire body benefits from improved leg strength. I didn’t focus on my upper body until I had been focusing on my legs for 20+ weeks. The upper body gains came fast from a month of adding push ups, burpees and the PT Pyramid.

Most my gains are hidden: better range of movement in my knees, improved energy and being able to toss my kids around.

It was a lot of fun and I ended this block feeling jacked, rather than exhausted.

Getting Strong 2017

It’s been eight years since I gave strength a big push.

I’m going to ramp things up over the spring and summer.

Sunday – standard program with 2×25 back squat (95 lbs) (25 minutes)

Tuesday – 5x mini blasters on 30 seconds rest (7 minutes)

Thursday – standard program with 3×25 back squat (100 lbs) (30 minutes)

Saturday – 10x mini blasters on 30 seconds rest (15 minutes)

The progression will mirror what’s outlined in my book, Going Long.

All going well, this will end up being a 20 week campaign and I’ll post as I transition between the phases. The plan is to leave myself ten weeks for a little ski-specific prep.

Total time is 1:20 => the highest physical return (per minute) of my week.

Pay The Price

Yesterday’s bullets are the price I pay for my current life:

They are not what-it-takes to be a good husband and father.

The bullets are my “to do” list to haveĀ the capacity to improve.

If you invert the list: fatigue, poor nutrition, no exercise, interact with family when stressed, be miserly, focus on external validation… …then I start heading towards a different outcome.

An outcome many consider both normal and highly successful.Ā The alternative outcomeĀ neverĀ felt right to me.

2016-11-18-08-30-18Before starting down the path of becoming better I had to create the capacity to change.

Telling myself that I was going to stop my “bad” habits didn’t work. Replacing my habits did work.

Salads, exercise, nature, acts of kindness and spending time in my best environments….

…taken together they displace a lot of poor choices. Choices that reduce my capacity.

Sleep and no-compete…

….increase my overall capacity.

Paying the price to change is uncomfortable but not changing is worse.

Lessons From My Divorce

2015-03-31 10.04.40The speed that people bring hate to a divorcing couple is surprising. It comes quickly and unexpectedly.

Having been through a divorce, I want you to know that the hate isn’t useful.

Getting divorced sucks, for everyone.

It’s worth remembering that nobody is enjoying the process, not even your soon-to-be-ex-spouse.

Your wise friends, knowing that nobody is having fun, will help you remove hate from the situation.

They will do this by listening, without knowing the answer.

They will encourage you to settle your differences with compassion for each other, and the rest of the community.

As for the hate…

When I find myself hating, it is a sign that my own actions are inconsistent my values. Hate is a sign that I need to make a change within my own life.

As for the divorcee…

It’s going to take years for the dust to settle.

After 1,000 days or so, you’ll be able to start the process of understanding the small ways that you might have contributed just-a-little-bit to the divorce.

Once you can see an area for improvement, start there.

Gradual self-improvement will lead you to a wonderful life.

Seeking Truth, Enduring Pain

SXMMy favorite quote on pain comes from a champion athlete, Dave Scott.

Dave was giving a talk the day before an Ironman triathlon and was asked, “How do you deal with the pain of racing?”

His reply…

First of all, it’s not pain, it’s managed discomfort

Along the same vein, I heard Dave’s rival (Mark Allen) share the advice that…

To achieve a result, you need to be willing to accept whatever is required to get to the result

Many people confuse pain, with the process.

Others, incorrectly, believe that they can achieve a meaningful life without having to endure discomfort.

Plan => Do Work => Recover & Evaluate

Plan => Do Work => Recover & Evaluate

Plan => Do Work => Recover & Evaluate

The discomfort comes within the process. Specifically, with identifying, and addressing, our shortcomings and beliefs that prevent success.

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What’s the opposite of “seeking truth, enduring pain?”

Lies and pleasure?

I don’t think so.

Think about a situation where someone “can’t handle the truth.”

What do you receive from them when you probe the truth?

Fear and anger

These are “negative” emotions but useful to point the way towards truth.

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The ability to see the world clearly requires a commitment towards radical honesty within our own lives.

If I can’t see the truth within myself, I’ll constantly be fooling myself with others.

So…

When I feel fear and anger, I know that I am on to something.

I might be close to an area that’s holding back clear thinking.

Seek the truth beyond the triggers.


Book Recommendation along these lines is Ray Dalio’s Principles – available as a free PDF.

How I Do Email

gmailFive years ago I took a two-week vacation and came home to 1,500 email messages. I spent 20 hours clearing the backlog and realized that something had to change.

My system will give me an extra 250 hours per annum – for the rest of my life.

If you’ve ever wondered where you could find-the-time then email is likely your greatest source of increased productivity.

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#1 – I started by switching to gmail

#2 – When an email arrives I have four choices:

  • Delete
  • Deal with it
  • Unsubscribe
  • Action

Delete – end the thread and do the world a favor

Deal with it – anything in your life that takes two minutes, or less, to complete… Do It Now – remember you’ve already interrupted yourself by checking email

Unsubscribe – this is a pain in the ass when you start – there’s so much coming… however, after five years I average less than one unsubscription per day.

Action – for items that require clear thought, or take more than two minutes, move to your “action” folder

#3 – Once a week, go top to bottom in your action folder

  • Give people what they need – no more
  • If It takes more than four lines then be sure to save your work – FAQs, blogs, article ideas
  • You have a limited number of keystrokes in your life, don’t waste them, or someone else’s
  • Any message that was in the action folder the last time you went through, make an appointment in your calendar to deal with it and delete. If you blow off the appointment then it wasn’t important

Learn to use filters so high volume senders can be automatically sorted to a directory and dealt with as a batch.

Teach your high volume senders to reduce their emails to a single message that you can deal with efficiently.

One-on-one email interaction should be priced at your highest rate per hour. Remember that it is your lowest reach method of communication – you’re only reaching one person, max.

#4 – Learn gMail HOT KEYS – worth another 10-25 hours a year

  • J – forward to next message
  • K – back to previous message
  • Y – remove current label
  • R – reply to sender
  • A – reply all
  • O – open
  • [tab] return – send

It’s worth the pain to change.

The Middle-Aged Athlete

ec_hatLast weekend, a bunch of my pals were in Hawaii for Ironman. Watching from a distance, Ironman is a reminder that the human body can do some incredible things. While the race is neat, what’s most impressive is the training load that the competitors put themselves through. The physical output, over many years, is impressive – sitting here, I can’t believe I was able to do it!

I’ve had success coaching men between 40 and 75 years old (as well as women from 40 to 55 years old). Interestingly, it’s the guys who are most prone to saying, “I wonder if I’m getting old.” Top amateur women just keep on rolling, about the only thing that slows them down is injury and illness.

On the other hand, guys get really tired. I like to joke with my wife that I get Man-Fatigue – like man flu – it’s a whole different level of fatigue from what she experiences.

What follows isn’t for my pals, who are still crushing it. Keep doing what you love for as long as it makes sense. I miss those days, and you will too! It’s for the rest of you – particularly, if you were a top athlete in your 20s and 30s.

When it comes to aging, I hear this a lot…

  • Age is just a number
  • You’re only old when your age is an excuse
  • 40 is the new 30

These sayings are linked to the first phase of aging – holding on against the natural progression of time. I’m more fond of saying, “this is what 45 looks like and it’s not so bad!”

In my peer group, characterized by exceptional will, a few can extend the “holding on” phase into their 50s and, extremely rarely, their 60s. You can find examples of these special humans (!) on the Big Island each October. I know a few and they are amazing people.

What lies hidden is the psychological, and physical cost, from living an unnatural life. When we put ourselves together in a peer group, that consists of much younger 1%’ers, we’re left wondering… what’s wrong with me? Why can’t I be like XXXX? Am I getting old?

I used to think that I’d be hanging on. Now, I’m not so sure. At first, I thought it was my kids making me tired but there seems to be something deeper at work. Time will tell. Maybe I’ll get a second wind in my 50s! šŸ™‚

When I catch myself thinking that a return to my 20s/30s will improve my life – I say…

  • It’s amazing how much exercise I was able to do
  • I’m grateful to have had the opportunity to compete at a high level

Wonder and gratitude are effective antidotes to mourning the past.

Another thing that I’ve noticed is I get an excellent mood response from small doses of exercise. I have to remind myself of this A LOT so I don’t fry myself.

With exercise, generosity, novelty…happiness links better to frequency than intensity, or dosage.

How do you know if you’re holding on too tight?

  • Ask the people closest to you
  • Pay attention to frequent orthopedic injury
  • Pay attention to frequent depression, or anger

If you aspire to performances that were extreme when you were 10-25 years younger then be sure to spend time with people your own age, as you age.

Trying to be the 1% of the 1% can lead to a rough ride as the years roll on.

Choose wisely.

Four Hidden Hazards – for aging athletes

Ron KonaBecause the big money lies in helping sick folks, athlete health is likely to remain a poorly understood niche. Here are three hazards that most people miss.

Lifestyle & Nutrition Stress

As an elite athlete, my blood markers would indicate kidney stress. I coached a kidney doc and did a consult to rule out kidney disease. Where we ended up was acknowledging the stress of the athletic lifestyle:

  • High calorie diet
  • High protein diet
  • High sugar diet
  • Constant muscle breakdown

Now, there are many ways that my athletic lifestyle reduces stress (body composition, blood pressure). However, a high-performance lifestyle increases stress, when compared to an active lifestyle.

From 2001 to 2008, I was “fast” but I carried around an immune system that was chronically suppressed.

Around 2010, I cut my training in half, and my blood markers went from good to outstanding.

My kidney function cleared up, my immune system strengthened and my HDL/LDL cholesterol improved. (82/84 mg/dL).

I put this out there because I had a fear that I would “lose everything” if I backed off.

The reality => Moderation improved my health and my marriage.

Passing Out & Crashing

I’ve been exercising daily for ~20 years and it’s the best investment I’ve made.

If you want to slow the aging process:

  • Get enough sleep
  • Don’t smoke
  • Take it easy on the booze
  • Eat real food
  • Move daily

The flip side of being a long-term exerciser is I can go a long, long way on nothing. It’s a trait that can get an older athlete into trouble.

When tired, depleted or “open” from exercise, my blood pressure can dip suddenly. So far, I have never passed out but I’ve felt lightheaded on many occasions.

Passing out is a serious medical condition – Part One and Part Two on the Athlete’s Heart Blog will tell you more.

If you share my profile then be aware that falls and crashes are different as we age. A key part of aging well is avoiding the strength and muscle losses that come from extended breaks.

I have changed my approach to improve my risk profile.

The Scalpel of Eternal Youth

Here’s how I categorize WEEKLY run mileage:

  • 20 miles = “not running”
  • 30 miles = “light week”
  • 40 miles = “basic maintenance”
  • 50 miles = “good week”
  • 60 miles = “enough to run a decent marathon”
  • 75 miles or more = “stretch week”

Follow this running protocol long enough and you’re likely to deal with orthopedic issues.

The most effective treatment for chronic injury is lifestyle modification.

Your orthopedic surgeon makes NO money from this truth!

A surprising thing about middle age => moderation turned out of be healthy and enjoyable.

Who Knew?