Four Questions About Growing Financial Wealth

Do you ever feel you are behind? That you don’t have enough? That you might run out?

What to do?

Make vague feelings real by writing down some specifics.

Then get to work.


ONE => Is this a Reference Set issue?

If I spend time in Aspen then my “needs” escalate, and my self-assessment “declines.”

Same deal in Boulder, but it’s from a fitness point of view.

Others might have vanity triggers in places like LA, or on Instagram!

Feelings are sensitive to environment. The same life, done somewhere else, will be different.

Feelings of envy, fear and anxiety are sensitive to images – careful with environment, turn off cable news, get off Facebook/Instagram.

++

TWO => Is this a Skills issue?

A 35 yo surgeon with $250,000 of education debt, is in a different position than most. The surgeon is likely to earn themselves into financial security.

  • Where does my current job track lead?
  • Do I need retraining?
  • Armed with additional skills, it is easier to move up the income ladder?
  • Do I need to do the same job for a higher bidder?
  • What is the market rate for my skill set?

++

THREE => Is this a Spending issue?

It’s not always spending… but sometimes it is, particularly when spending isn’t generating satisfaction.

If you have the skills & the salary, but are left feeling uneasy, then a family financial review can make sense.

These discussions are HIGHLY emotional. I recommend a skilled facilitator.

++

FOUR => Is this a Time Horizon issue?

Back to the surgeon… highly skilled, employed, spending under control… the situation is going to play out just fine.

  • Pay down debt
  • Keep spending in check
  • Conservative monthly investment program

15 years along, the family is in a strong position. They had doubts, I did not.


I was asked, what would I have done?

Starting over at 40 yo

Core Job matches my highest paying skill set. Medicine, tech, finance, aviation… track into something that pays well.

The Core Job enables me to borrow long for a Core Investment. Buy real estate in a zip code with great public schools and a diverse local economy.

Secondary Job in an area of personal interest. It’s what many do with coaching/consulting.

Side Projects with Equity Upside. I would be looking for opportunities to invest (primarily time) in situations with financial upside. Do enough of these and something is likely to hit.

One new skill each year – coding, online marketing, blogging, video content, copywriting, language, ministry, education, graphic design, photography… stacked across a decade… powerful.

  1. Core Job
  2. Secondary Job
  3. Equity Upside
  4. Continuous Learning and Skill Acquisition

I have a friend, who did all of the above.

  • Around 40 yo, they were divorced
  • Then their employer went bust
  • Then they found our their pension had invested in the employer
  • So the pension went bust…

Long story short, a rapid journey from “set” to “f*%^ed”.

They could see “effective net worth” was negative due to financial obligations related to the divorce.

What I saw for a decade…

Three jobs: two of the jobs had flexible scheduling. Time off was used to work continuously (7/52/365). The third job was consulting, which was done inside the daily gaps.

Modest spending: given the income rolling in, not much went out.

Heavy investment: every single month, buy financial assets. Take overtime, buy more. Bonuses and financial windfalls, buy more. Buy, buy, buy.

This path isn’t for everyone – it comes with a cost in terms of family life. You need a spouse, who is completely on board. It’s a team effort.

A decade of grinding and the family is in a strong position. Now, the challenge may be to shift away from financial assets and build multigenerational Human Capital.


Final Word

Think deeply about Reference Set

  • There is a weak link between financial assets and life satisfaction
  • We never get time back
  • Too often wants are driven by external influences
  • Know what feeds your soul – write it down, take your shot

Make the target clear to yourself – for me => an active, outdoor life sharing experiences with friends and family

Stay on target.

Life Lessons From Admiral Jonser

RADM Scott “Jonser” Jones

Years ago, I wrote a book about Ironman Triathlon. At the back of the book, I put my email address and invited readers to reach out.

Scott read the book, and sent the email…

I was sitting at my computer and wrote him back five minutes later.

Take the shot, make your own luck

22 years prior to that email, Scott dropped out of high school and joined the Navy.

At 17, he took the shot.

40 years of service

Shot after shot, after shot…

June 10, 1982 (E1) to June 10, 2022 (O8)



Scott was able to live his childhood dream.

What was yours?


One good relationship can change your life

There have been moments in my life when Scott has pointed out faulty thinking.

Based on the turnout at his retirement ceremony, there are hundreds of people who have appreciated a timely dose of Vitamin Josner.

One person can make a huge difference in the world.

Find your tribe, iterate towards better, contribute.


Just Keep Winning !

Just Keep Winning – some time this year, I started saying this (all the time) and passing it along to others

  • People hate you for no reason… just keep winning
  • Feeling imposter syndrome… just keep winning
  • Unsure what’s next… just keep winning

I get to the ceremony and it’s on the cake!

This got me thinking…

I have no memory of where Just Keep Winning came from but, now, I have a hunch.



People influence me, without my awareness

When you come across a positive influence, be willing:

  • to change
  • to go to them
  • to share what they like to do

Last Thursday, I gave you a list:

  1. Do they make me laugh?
  2. Do they help me think better?
  3. Do they set an example for the type of man I want to be?

I’ll add one more filter… The Better Test

What happens when this person arrives on the scene?

Pay attention when you see “better” happening.

Jonser makes things better.


The Admiral at 17 => top right

Sunday Summary 12 June 2022

Top Threads

  1. I Allocate Money to Create the Wife & Life I Want
  2. Late-Season Peaking
  3. Swimming better & my return
  4. Buddy Runs for ultras & heat
  5. Fast Amateur SwimRun Training

High Performance

Workouts & Working Out

Late Season Peaking

A favorite shot – spend time in places with natural energy!

Throwing it back to the ride across across the US, again.

Early summer…

  • the GIRO just ended…
  • the Tour is coming up…
  • it’s lush and green outside…
  • the Sub 7/Sub 8 project just finished…
  • you’ve been base training like a champ…
  • you’re reading NVDP’s manifesto

It’s natural to want to smash yourself.


Rear View of Clas from SwimRun training mentioned last week

I wrote this in Memphis, the ride into town was the greatest tailwind, and scariest bridge crossing of my life!

What I call “tempo” is now known as the Heavy Domain.

The names have changed, the training errors remain.

Then, and now, athletes hinder their development by capping their aerobic gains.

++

I’ll share the “20K Track Workout” (mentioned below) next Saturday – it’s a great set that will surface useful data for you, and your athletes.

Big Picture => my advice (then and now)… repeat the week, for a while… only then will we have the basis for a conversation.


Old school navigation – we avoided cities as much as possible

gRAAM – Trans USA Day Forty-Seven
memphis, tennessee

Reviewed my track sessions I appear to be well ahead of last year. This is pretty exciting because I did ZERO track work over the winter.

Anyhow, Scott and I have another moderate session planned for next week and then we’ll do my standard (20K) “track” workout to see where I am at. That will be about a week and a half out from Triple T. Should be a good indicator for me.

Baron says that there’s no way that I am ten pounds over race weight. He thinks it’s more like six.

We said good-bye to Barry this morning. Over the next couple of days, I expect that he’ll pull his thoughts together on the experience for InsideTri.Com – should make interesting reading. We threw everything we could at him and he just kept bouncing back. Fourteen days of monster training is really the furthest that I’d recommend anyone goes so it was probably for the best that he headed back to Oregon – even if it would have been nice to have him along.

Season Pacing & Race Preparation

Some of you might be getting fired up reading about these entries. I’d urge caution on trying to mimic the training that the Baron and I are laying down. To be honest, we are a little surprised ourselves that we are surviving. Yesterday, I wrote this to one of my crew that frequently does big day training and is aiming for a late season peak.

Patience — it’s a long season so don’t extend yourself “way out” in May. Keep it rolling, keep it fun, keep it large but… keep it reasonable (for us at least).

Tempo — aerobic tempo is a waste of time for you, me and everyone. When you leave your steady zone you need a reason to be out of there. Big Gear, Strength Hills, Race, TT — probably the only reason for Tempo bike and run work. Otherwise you are having fun going fast but simply making yourself more tired — not more fit.

Weeks — No more than 12-14 “on days” without a 3-5 day recovery cycle. Even with that you should have 2-3 easy days in the on-cycle. Otherwise you won’t get the recovery that you need to bounce back from the outstanding training you are laying down.

Also yesterday, I sat down with Steve (our Little Rock host) and talked through my thoughts on the training that he needed for his first Half IM at the end of the summer. Key points that might be relevant to you:

Basic Week – build a basic week that is “doable” within your life and agreeable to your wife (husband).

Consistency – repeat the basic week for 15 weeks.

Key Workouts – plan a sane progression of volume for your key sessions.

Intensity – insert blocks of steady into your longer workouts. Learn _even_ endurance workout pacing.

Swim Goal – get comfortable with swimming 1.2 miles without using a lot of energy. What you do is far less important than simply swimming 3x per week every single week for 15 weeks.

Bike Goal – build your long ride up to six hours to train your body’s aerobic system.

Run Goal – stay healthy, run 90 minutes once a week, run off the bike for time management and consistency. Slow down and aim for a consistent period of pain-free running.

Focus – ignore all the various ideas and tips that everyone throws your way. Repeat Your Week. Repeat Your Week. Once you finish the race, you’ll have some data and will know more about whether you enjoy training and racing long.

Sammy came up with a great term that I’d like to share with you. No doubt the sports scientists will beg to differ but (deep down) I kinda get a kick out of their attempts to save the world from it’s own ignorance.

Lactate Bruising – the dead legged feeling from smacking out the intensity early in a TT, race or workout.

I’ve often noticed that any sustained periods over LT will have a big negative impact on late workout or race performance. That’s with my own training. For Racing Long, I’ve extended that observation to “take some time to give a REALISTIC assessment of your average race intensity for the whole day. Bear in mind that your medium of movement becomes less dense as your day progresses. So, you’d better have a clear reason for exceeding average race intensity, especially in the first third of your day.”

ITM Riding

Baron does a pretty good gordo-imitation. Get him to show it to you some time. He’s especially good at imitating my run form and when I’ve had a lot of coffee.

The conditions today are what Baron calls “I’m The Man” riding. We had favourable tailwinds and he was content to let me set the pace all day. So I get fired up on cola and Dr. Pepper – sit up front, ride 40-43 KM/h and go…

Hi! I’m gordo…
I’m _THE MAN_…
I’m going lower…
I need a 58…
I feel GREAT!…
And on…
And on…

And I laugh out loud and sing along to my MP3 player.

Baron does a good imitation of that. Makes me smile. Unless my back’s locked up – which hasn’t happened for a while.

Andy From Memphis

Andy rode out into a MONSTER headwind to meet us. He’s also set us up with his wireless network, a couple of spare beds and a sweet pad! An excellent set-up and very much appreciated by the crew.

There won’t be a State Line photo for entering Tennessee. If you’ve ever driven the I-40 bridge into town then you’ll understand our reluctance to stop…

A – You wanna stop?
G – Dude, it’s hammer time – get me out of here!

Top Three scary situations for the trip.

Didn’t run

Swim was SCY and courtesy of Steve’s club (one heck of a nice guy)
200 fr, 200 alt by 50 bk/br, 200 IM, 200 easy, 50 kick/100 fr/50 kick
15×150 fr on two mins arriving on 1:55
100 easy
4×100 IM on 1:40 arriving on 1:30
5×200 on 2:50 arriving on 2:40

Ride was 250K over about 6.5 hours of ride time. Flat, hot and humid – we were grateful to have Lance ride us out of Little Rock to make sure that we got on our way.

That’s all for now.
g-man

Where To Spend More Part Three

13 years ago this month

This series came from a conversation with someone, who was taking >50 years core spending off the table.

Part One was True Wealth & Part Two was Spending / Consumption

Where to spend was the final part of the conversation and I didn’t connect as well.

So let’s try again with key concepts.


Money not spent will end up with people who didn’t earn it (and have unintended consequences)

…balances with…

Family spending can become a burden to adult children (high baseline consumption expectation)

So…

Where to spend?

I spend in areas that…

  • help create the person I want to share my life alongside
  • reduce the risk of divorce
  • reduce friction towards the man I want to be

Childcaredetail here

  • Reduce, and redirect, resentment raising young kids is tough! We’ve had to “fire” different childcare people… but the marriage endures. Better to “fire” the babysitter, than me!
  • Kind, athletic spouse – create space so your spouse can be the person you’d like to build a life alongside. Never let anyone sacrifice their life for the “benefit” of the family/marriage.
  • Stay well back from the edge – there were times when I disliked being a father. Create space so you don’t act on negative feelings. ALL feelings are temporary! My marriage, and my family, needs me to not-act on temporary feelings. It is never OK for me to blow my family up.

Create happy memories – I’ve spent the equivalent of a very nice SUV on trips with my wife. Bora Bora, Napali Coast, Paris, London… these are some of the happiest memories of her life.

Over long time horizons, these shared experiences have continued to pay dividends. Much more than I expected.

Lesson: my spouse is likely to connect, and find meaning, in ways I don’t fully understand.



Some nuts & bolts about removing friction

My body looks better when I eat salad => I spend $2,500 a year on prepared salads – I don’t care if I throw a bit of food out. I want it easily available, always.

Related, a luxury good is the ability to not price check the person doing the shopping. If quality & availability matter then provide an incentive for what you want to have happen.

I’m a better person when I train in the morning => At replacement value, there’s $28,000 worth of fitness equipment located where I live.

Weights and cardio… ZERO friction between me and what I need to do for health.

Many of my best friends, now, have kids => make it very easy for them to visit me, or visit them (with a kid).

Mantra: Spend money and time seeing good people

Who to vist? Simple filter…

  1. Do they make me laugh?
  2. Do they help me think better?
  3. Do they set an example for the type of man I want to be?

Some do all three – recruit them!

Remove as many micro-triggers as possible => Twice a year I write a large check to my wife. From that check all the small stuff comes out of our family. My job is to make sure that check gets funded. Her job is to take the pain of those micro-payments.

Do not micromanage my spouse! Agree the master budget and trust your partner to run their slice-of-the-pie. I get one number a month from my wife, net cash out. That’s all I need.

Drop my worst environment – when I was younger, it was commuting. I paid a premium to live close to work. These days… driving. The goal for my family is to get my driving down to ZERO.

Anyhow, know your worst environment and throw some money at it to reduce your exposure. This is a luxury good with a good payoff… your family gets a better version of you.

Beware… you might be hooked on the drama of suffering through for the “benefit of the family” – I’m calling BS on that. Just like your health, you need to own the outcome. Your family needs the best version of yourself. You need it too!

Human Capital over long time horizons. Supported by:

  • Nutrition
  • Exercise
  • Connection
  • Mood management
  • Conflict reduction

None of them make me appear rich, all of them contribute towards True Wealth.

A Swedish Approach to Athletic Excellence

Link to YouTube

I’ll link my prior writing on NVDP at the end of this piece.

NVDP had a childhood dream of being a great athlete, I had a childhood experience of being a horrible athlete.

Proving right, proving wrong…

Childhood experiences can be powerful motivators!

What’s YOUR motivation? Why start this journey?

My answer “I was born to train.”

Tapping into core motivation enables sustained work.


  • As a coach…
  • As a parent…
  • As a child athlete…
  • As a collegiate athlete…
  • As a world junior champion…

What’s it going to take?

Nils & Johan explain the performance puzzle:

  • The Project: a multiyear journey to the top
  • The Work: a LONG apprenticeship
  • The Block: a multi-month period of increasingly specific focus
  • The Session: one session, repeated, involving the specific requirements of the goal

Project : Work : Block : Session

Nils & Johan speak clearly about these four aspects. Can you?

In order to bring laser focus to the Block and the Session, one needs both: (a) a deep reservoir of aerobic fitness; and (b) plenty of mojo.

Keep the Work phase enjoyable and don’t sweat the pace/power. Base training is about kilojoules. Kilojoules by any means necessary.

The Block phase lasts ~17 weeks – NVDP uses Swedish 5:2 loading implying (at most) 85 days “on” and (at least) 34 days “off”.

Across each Olympic Cycle, there are “85” days that are special. The other days are foundational & recovery.

Intense internal focus => at times, never for long.


Even for Superman, life mostly happens outside the arena

Some nuggets in the podcast:

Threshold Block:

  • early-week longer intervals set the work-rate across the week – recovery is added to preserve a good enough work rate – when work rate cannot be hit, recover
  • seek to gather TIME “fast enough” rather than progressing targets – key attitude for error prevention

Coaching expertise can help quantify “good enough.” NVDP carves most everything else away.

++

Repeat The Week:

  • NVDP knows key sessions, by DAY, inside his 5:2 week
  • There is an early week expectation, and a late week expectation
  • Higher work-rates not always better – experience with bicarb letting him train “beyond the limit” forcing additional recovery the next week – [For me: a reminder to respect natural limits.]

++

The Bike: I suspect we will see more athletes using supplemental cycling for fitness (metabolic, aerobic, threshold) – this would work for both running and swimming – if you are a “large” runner or a swimmer with limited access to pool time… then the bike seems life a useful supplement to your plan.

People are going to figure this out. Might you be one of the people? Athletes lead the process.

Clinicians: before you add “running”… keep the “walking” and add “cycling.”

++

Always watching has a cost.

As NVDP says in the Manifesto… “There is a cost of everything.”

How much of my watching is making my team faster?

Might constant monitoring of The Work be creating a net-negative cost?

There will be times when you need to trust yourself and resist the urge to count.


In our own lives:

  • Project – where do I want to take myself?
  • Work – a long period of enjoying what it takes, with ample recovery
  • Block – 2-4 month focus-periods, every 3-4 years, intense focus, ample recovery
  • Session – what one thing, if you get right, will change everything?

The above approach, with buy in from your family, is VERY sustainable!


Prior NVDP Material


The Flowchart of My Project

The Work is #1 and I’ll be there for a long while.

Sunday Summary 5 June 2022

Top 5 Threads

  1. Howard’s new book on Longevity/Healthspan
  2. Even Super Humans have a lot of time as regular folks
  3. COVID return to play for adults & kids
  4. Don’t adopt a baseline of beatdown!
  5. A simple reminder of consistency as protocol, connected

Workouts & Working Out

High Performance

A Vision Quest of Fatigue

Hilton Head, end of the trip

Archive Saturday is an extract from my diary when I rode across the USA (March to May 2004).

This entry was written after the end of a big block. That morning, I had briefly fallen asleep swimming. Woke up when my head hit the bulkhead!


Barry was a favorite guest. At the time, we were eating out of buckets.

My buddy, Barry, had saddle sores so bad, he used his menthol lip balm for relief.

Never borrow lip balm from a vegan called Barry!

As an elite endurance athlete, there will be days when the best thing that happens is rolling a stick of lip balm onto your balls…

…and those will be some of the greatest days of your life!


There’s tired and there’s “lie down on a tarp, covered in mosquitoes and immediately fall asleep tired”

Here’s the thing about fatigue, at first we panic a little, eventually we accept it, then we find a way to relax and dance with it.


A BIG motivator with my Project (to get back in shape) is being able to do adventures with my son.
This is the morning we decided to swim to North Carolina and run up to road to meet our support vehicle.
Clas “the Baron” Bjorling in the middle & Ben on the right.

From back when the magazine business was a business…

They’d be out of business if we just put JFT on the cover and ran the adverts…

Social media wasn’t a thing in 2004 but the “attention economy” endures.

Be wary of sacrificing the quality of your work to offer novelty to the masses, most of whom will never follow your advice and gain The Knowledge.

The Knowledge doesn’t reside in textbooks, blog posts or podcasts.

Just Keep Training


Sam, me, Barry the Vegan // 8 weeks (and most of the USA) between this photo at the one above.
Fuel the work and don’t be a weight nut!
Always remember, NEVER borrow lip balm from Barry

Monday’s blog will be about A Swedish Approach to Athletic Excellence – it’s about creating a life that puts you in the position to do The Block.

The Block – a period of 4 months where you take yourself to the top.

The first half of my “Block” was swim/bike/run across America – 9 weeks.

The second half was a summer inside Dave Scott’s Team World in Boulder.

Barbarian Days!



gRAAM – Trans USA Day Forty-Eight
camden, tennessee

In the end, we were a bit tired to be much entertainment for Andy, but we left him a couple of souvenirs to show our appreciation of his hospitality.

We didn’t exactly rip out of bed. I managed a weak jog to the pool. The swim was even more lackluster. After 2,000 yards, I nearly fell asleep in the water (not a good sign at all). I managed to squeeze out 3,000 yards, but the last 500 was done in broken 25s at easy pace. Not pretty. I got out of the water and sat in the hot tub for a bit (memories of cracking post-Epic NZ #2).

I shuffled back to Andy’s place, where Baron and I conferenced and agreed that the overall run distance was 5.5K.

We had 180K on the ride agenda and I was starting the day highly whipped. Fortunately, we had tailwinds forecast, but there were a heck of a lot of rollers heading my way. I drank a half litre of gordo-brew, straight-up – nothing happened, not even a ripple in my system.

++++

So what does one think about when riding, totally wasted? Here’s a selection – as you can tell, I wasn’t feelin’ the love the whole way…

Jimi and me – hey, there’s a lot going on in the background of those songs. He’s laughing and joking the whole way through. Kinda like a my training days.

Dolan – Tom “Mr. Swimming” Dolan trained 100+KM per week in the water for an event that lasted four minutes. How could anybody reasonably expect to perform a 8-9 hour TT on a low-volume program?

Track Sessions – Who’s %^&*$#@ idea was that anyhow? I’m blown to bits and for what? …and the guy tells me to eat light at dinner. Man-o-man, isn’t he reading my reports? Eat light?! Bet he’s drinking a beer right now.

Training Regime – OK, you come and sit on my wheel for two weeks and then we’ll talk training protocols. Far easier to talk than to do what it takes. Two weeks in my big ring and counting.

Mr. Andersson – The guy chose the large jersey. I had the medium with me and he waived it off. Then he diss’d my gift on my site? Sponsor management? Dude, you can just mail that jersey back to me and I’ll find another home for it.

Lance – People diss the guy on the pride he has in his preparation. I’m shelled to s&*# and I’m a wee minnow compared to those guys. Everyone trains hard at the top? No way, only a few people truly apply themselves in ANY endeavour. The ability to persist beats ability. But they wish it was the other way. They wish that there was an excuse, any excuse, to avoid personal responsibility.

Scientists & Experts – I bet I couldn’t find one expert to agree with my training today but, I bet I could find a dozen world champions.

Coach – Don’t fool yourself. Coaches don’t make athletes. Athletes make athletes. Structure, motivation, objectivity, belief. The nature of a session? Doesn’t matter. JFT.

Fatigue – We’re looking for a new kind of fatigue out here. Something deeper, a pure fatigue. Not one of those bush league fatigues. A whole new kind of fatigue.

Balm – You know, that balm I put on my nads is probably going to be the highlight of this day. The menthol aspect lasted for at least forty minutes. That was nice. My only action is medication for my bag – all part of the elite triathlete lifestyle. Funny old life I lead. Wouldn’t have it any other way.

Rights – What am I doing out here? I am exercising my right of self-determination. Perhaps just self-termination.

Tri Mags – It would be pretty thin if you simply put JFT on the cover then ran the adverts. So much time, so much energy, so much money spent on items that have nothing to do with true performance.

I can’t really remember if those were before or after lunch. I do remember that we had 105K on the clock at lunch and my hands were shaking badly on arrival in Bells, TN.

B – I think that we should ride an extra 30K if we feel good.
G – More than 200K?
B – Yes, a good idea?
G – Why not.

So we headed out at 4:30 pm for a second leg of 125K, or so. Somewhere out there I got tired enough to simply relax and resign myself to my fate. Just like the winter storm day. Only this time it was different.

Baron was so shelled that he was pouring water on his head to keep himself from swerving too much. I think we were both beyond caring and feeling – we were simply going to ride until we got to the end or cracked. Neither of us expected to crack, but you can never really be sure.

…perhaps that’s why I did this trip. Because I wanted the knowledge. Yeah, that’s good to know. This could be as close as I’ll be able to come. My personal sixty quarters. Shared with the Baron. The same knowledge but different. I wonder if he understands? He certainly understands but he’d be no more able to explain it then I can. When you have the knowledge you don’t really need to explain it. You just lean back and smile while everyone else hangs at the Mad Hatters Tea Party. Molina has it, sure, but why is he telling me to eat light as well. Is he playing some kind of joke on me? I’m way past simple bean dip fatigue – isn’t he reading these reports. Maybe he’s taking me on the next step. Just keep riding…

…Guess it’s like the quiet power only deeper. If only a few have the knowledge then I wonder why so many of them don’t have the quiet power as well. Perhaps it’s difficult to transfer it across an entire spectrum. Flashes of enlightenment. Wonder how long this will stick with me. Probably be gone tomorrow. But it was nice while it lasted. Keep on riding…

…it’s not the insanity of cities, or the silliness of debate – it’s the total futility of everything. To fight every battle as if it was our last, all the while knowing that it’s really one big joke. A lot of warriors get the first bit but miss the second. Keep on riding…

We rolled into our campsite as darkness fell. Wy asked me a question and I said something along the lines of “I’m OK”. She noted that my reply wasn’t convincing but how to explain without sounding offensive or strange. My own vision-quest exploring the depths of fatigue.

I think we are going to make it, but who’s idea was that track session?

g-man

Wealth and Consumption Part Two

Part One Here

Group your spending into buckets:

  • Essential
  • Discretionary
  • Luxury

The most “costly” part of the pie is whatever you happen to believe is “essential.” It usually doesn’t feel this way => you truly believe you need this stuff. I feel the same!

When you suffer your first serious setback, you’ll be surprised how little is essential. In 2009, I cut my “essential” in half, overnight.

Similarly, as we age, we may find we were giving time, money and attention to things that don’t seem to matter anymore.

Know your buckets – they will help you think more clearly.


Remember => I think of wealth in time

Specifically, Net Worth expressed in “years spending.”

$1,000,000 / $125,000 = 8 years

As we change the spending, we change the years.

Risk, and INFLATION, are easily mitigated when you understand how easily you can change spending.


Risk Concept => not all spending, or financial obligations, are created equal

Be most aware of:

Debt, including contingent – an obligation where non-payment can force the sale of an asset

Spending that comes with spending – large HOA/Club fees come to mind here – put plainly, a hotel visits feel just the same on an ego, yet, don’t require an annual membership fee

Going further => Don’t Capitalize Luxury Spending => the “luxury bucket” from above, if you turn it into a capital obligation then it can bite you, especially when combined with debt.

We don’t need to own the hotel to receive the services offered to a guest.

Same with… plane, waterfront, ski chalet… whatever you find inside your “luxury” bucket.

Staying flexible with the ability to stop spending can feel like a “waste” – even more so when highly-leveraged peers appear to be making easy money.

This feeling is false!

  • We over-estimate the value of current spending
  • We adapt very quickly to any level of spending
  • We notice changes, not absolutes

You are paying for the flexibility to: (a) stop paying; (b) change your mind; and (c) keep your capital invested productively.

Also remember, the generation that follows will build upon your spending.

The choices of family leaders scale.

++

This concept is important as we age:

  1. We will want to spend on different things
  2. We will want to “do” different things
  3. The generation that follows us:
    1. they will INDIVIDUALLY want to spend differently
    2. they will certainly want to do different things
    3. they will have a thirst for more

For your future self, and your legacy, give maximum flexibility to change.

You will most certainly change your mind later.

Caught COVID Part One

Came down with COVID last Tuesday and my network has been great.


LINK to BMJ

At the same time as I was dealing with the fever, my O-sats were getting hammered and that made my thinking REALLY slow, also meant I stopped driving until they rebounded.

I was negative before I was positive – didn’t feel right Tuesday afternoon, tested negative.

Woke Wednesday with a big fever and tanking wellness metrics – clearly positive. If you don’t feel right, then it might take 12-24 hours to see test confirmation of what you feel going on.

I kept hydrating like I was training, put a large glass of water beside my desk and bed (create availability for my O2 deprived brain).

Checking my o-sats has kept me in check! I ordered this pulse ox meter on Amazon

Laying around, with the fever, resulted in back pain – hip flexor stretches offered quick relief

Best Decision: immediately, and publicly, pulling the pin on my May Training

Reminder: just like post-marathon/Ironman…

You are going to FEEL better, before you ARE better.