Remember when your cable bill was $70 per month and you thought it was incredible to save so much money switching to Netflix for $10 per month? What happened? Today you likely have multiple streaming subscriptions from Netflix to HBO to Disney+ to Peacock and more. Conveniently, they all add up to about the same $70 we were paying before… In a business, the problem can be even worse…For two …
Sometimes I feel like turning it all in. It would be easier to disconnect from society and shuck all responsibility. The image of a guy living in the woods or on the beach in peace sounds idyllic at times. Then I remember Jimmy… A Mentor’s Journey A mentor of mine, let’s call him Jimmy (not his real name), made all the money he’d ever need in his late twenties. He …
More stuff means more maintenance, storage, time spent trying to find your stuff, and money draining out of your wallet every month. I have two questions for you: #1 – Can you comfortably live off your investments today? (A rule of thumb is your lifestyle costs you less than 4% of your total savings and investments.) #2 – Do you own any of the following? A house larger than you …
The quote above is by Warren Buffett’s business partner, Charlie Munger, commenting on Buffett’s schedule. Buffett says he reads around five hundred pages per day of newspapers, books, magazine articles, and annual reports. He’s designed his schedule so he can spend most of his time thinking and reading. He runs a company valued over $600 billion at 91 years old. Whenever we think we’re too busy and need to cram …