#10 Five Money Things
How to not bet, keep what you have accumulated, Hedonism vs better life, optimism, thriving in an unknowable future
🤑 Welcome to #10 of Five Money Things
I have been struggling to figure what to prioritize in my life. Between business, fitness, running, reading, newsletter, Youtube, and a few other interests, the choice is getting extremely difficult for me. I have been constantly thinking about Buffet’s punch card framework. If I were to select only five things, what would it be?
👩🌾 How To Not Bet?
An interesting story shared by Vishal of Safalniveshak.
🎨 The Real Art Is In Keeping The Money You Have Accumulated
As you get wealthier, your life changes. But the challenges change too. Instead of focusing on how to earn money, your focus suddenly turns to figuring how to sustain the lifestyle and ensure that the wealth grows. Keeping the money is an art in itself. History has multiple examples of people who earned millions of dollars but spent a little more than that. This article has such examples and some key lessons.
🎁 A Better Life Is Not Hedonism
As I have grown in life, my conclusions about how one should live have constantly changed. One of those changes is living in extreme frugality to spending life to make it better. Many would call it hedonism, but in my opinion it is not. Like I have said before, buying an expensive chair for your office is not an unnecessary expense when you are going to spend hundreds of hours on it. Same goes with buying a safer car, a better mattress, and so on. Check out this thread from Nat as well.
✨How To Thrive In An Unknowable Future
Derek Sivers is one of my favourite writers and thinkers. He shared a list of things that will make you more anti-fragile and help thrive in an unknowable future.
➕ It Makes Sense To Be An Optimist
Optimism and a positive outlook has gotten us this far. Our future growth also depends on the same. Nobody can explain it better than Morgan Housel.
I consider myself an optimist. I think things will generally get better over time for most people even if the path between now and then is a neverending parade of setback, surprise, chaos, and disappointment.
🎨 Other Interesting Things
Two twitter threads from Tim Urban that you should re-visit periodically.
I found these ideas interesting. I am trying to do a mix of hold and cold showers for now.
I shared a list of ideas from Erik Torenberg on building personal moats. I hope you find them useful.
f you enjoyed this, consider buying me a coffee.
My personal blog - nirajdugar.com
Get in touch for financial planning - niraj@holisticwealth.in
Work website - Holistic Wealth
Twitter - contliving
Youtube - Niraj Dugar
Some fascinating stuff in here, questioning the Hedonic Adaptation thing especially is a very interesting thought to play with.