General

Regrets

Regrets 150 150 JP

You gotta learn to live with regrets. Even the people at the top of the life (to the outside world anyway) have to make choices between actions, feelings, etc. I think Tony Robbins is known for saying energy flows to what you’re focusing on. That’s why you shouldn’t have a plan B or side hustle. If anything, it should be a hustle with many streams of revenue, but still just one hustle. That new show Ordinary Joe is a story about regrets. I don’t even watch it to know. It’s a story that shows three different lives of one guy.

People find the multiverse very romantic to think about. You know, the idea that in some parallel universe you are living out your dream life. Hate to break it to you, there’s no dream life. There’s just this life, even if there is another you in another universe in the grand simulation, the way things are set up, time moves forward. There is no rewinding the clock on the day or your life for that matter. That means, you have to make decisions that sacrifice one outcome for another. Want to pursue a career in one field means not being able to do it in another.

I’ve had a hard time with this. In 2001, I went into finance convinced I wanted to be a stockbroker and manage money. I went head first and was mildly successful compared to other things I could have done. I didn’t see the forest for the trees though and made some very bad decisions. In 2008, I was convinced that I had my dream job. At the time, my dad had built an incredible energy efficiency product and we had started to set up contracts with big companies like UPS, FedEx, Frito-Lay, Pepsi, and other Fortune 1000 manufacturers. We were looking to book over 7-figures in the first year, then he died. Heart attack. In a parallel universe, he would have gone to the doctor and checked out all his body systems annually. Now my whole family has to learn to live with that regret.

Point is, life is nothing more than a series of decisions and some you’ll regret. You have to make them though. This was a note to self.

Retirement

Retirement 150 150 JP

Nothing is more ludicrous than assuming you need the same amount of money in retirement that you needed while you were working and raising a family.

That said, inflation will likely erode the rest of your purchasing power anyway if you’re on a fixed income, so it may be worth downsizing your home (if you own it) and putting that cash into dividend producing equities or bonds.

I personally don’t think anyone actually wants to retire, they just want to do other things aside from work in their current role. Some people want to do nothing but read and watch streaming all day, great. If that’s fulfilling, do it.

If I did that, at some point in week 17 I’d have to start thinking up new ideas. Even if I failed at everything I tried AFTER retirement, I would have to try stuff because my brain would be bored.

I’m not building my business to retire, rather to use throughout my life to fulfill my needs and wants and possibly other endeavors. Of course, that means risking the safety net as an old man not working the steady paycheck route, which my not have been the right idea when I get to 65.

We Already Have High Inflation

We Already Have High Inflation 150 150 JP

There are over 2,000 publicly traded companies with market capitalizations in excess of $2 billion and close to 500 of them are priced at 10x current revenue with the majority of this sub group losing money.

The Russell 3000, which represents nearly 98% of public stocks in the United States, is up 110% in the last 5 years. That’s roughly 16% annualized where normally a large basket of stock would have produced around 9%.

Will Michael Burry and Peter Schiff be right with their forecast of hyper-inflation? I don’t know. What’s for sure is that when you look at a chart of the S&P 500 since 2009, it’s nothing but up up up hockey stick style.

Is that because so much value has been added to society? I don’t think so. What does seem to be happening though is a continued push of the can down the road now to a point now where the pain coming will be significantly greater than 10, 20, 30, 40 years ago.