In one situation, a person was pulling in close to a quarter million a year and now struggles to pay rent. In another situation, a person spent much of their career in software, only to be laid off and replaced by a younger engineer. In another, a small business owner had business booming, without enough people to handle all the work coming in. A few years later, the business had died down, close to only one tenth of the work from previous years.
It is surprising how different we all are, yet how similar we are. We all tend to feel the same feelings and go through the same things in life. I love to speak to older people and learn about their experiences. You would be surprised what people have done in their life, if you only take the time to ask and listen.
As an investor, you can be paid well by learning to solve people's problems when one of the four D's occurs. Here, disaster typically means something like fire/earthquake, but you might also include being fired or losing a job.
- Death
- Divorce
- Disaster
- Debt
All too often, I speak with people who say they are doing well. I think that is great and of course hope that life will continue to be well. However, I hope that people can "Hope for the best while planning for the worst." When times are good, enjoy them and put some money away for a rainy day. Remember, you are one event away from a financial disaster and unfortunately, the statistics are not on your side. Can you honestly look at the list above and say you don't think any of those things will affect you in your life? What about the next few years?
I'd like to give a new interpretation to an old parable. What I love about parables is that they have different meanings for different people. The parable I am interested in is the parable of the ten virgins. Most people think that this has to do with the second coming or when they death. However, I think of this having to do with life and its cyclic nature, since when one of the four D's occurs, the bridegroom tends to arrive right at the front doorstep.
So, while you are thinking that your life is going well, I want you to just take a second to think. Does that house you are looking at fit your budget? Do you really need that new car? Do you already have furniture that you can be happy with? If you can answer these questions correctly, then maybe true happiness will enter your life when you are able to help your loved ones through hard times.
“At the end of the day, the questions we ask of ourselves determine the type of people that we will become.” – Leo Babauta
While some ask themselves, if they will be successful, I ask myself, when I will achieve success. That is why I can achieve anything I set out to achieve. People who know me well, know this about me. In the last year, I was involved in a 3 mile river race, in which our boat fell apart and all hope was lost. Most thought I would quit. Most thought I wouldn't get to the 1 mile mark. But then again, most didn't know me. It was said of me, "I don't know when he will finish, but I do know one thing. I know where I will meet him to pick him up." I never asked myself if I would finish the race, I just asked myself how long it would take.
So maybe the questions above are not the right questions. Maybe you should ask, "Will this house provide the things you need, no more, no less, so that you can pay the mortgage in the next 15 years?" "Can you live with a slightly older car, if it means you can put extra money into your kids college fund?" "Would you rather purchase this new furniture set or be able to send your mother money if she loses her job?"
Support My Mission
1. You can support my mission by visiting http://www.izuservices.com and donating. A dollar lets me know you support my mission or like my posts. Thank you for those who have already donated.
2. Donate to SAGE via http://sagescholars.berkeley.edu/. The UC Berkeley SAGE (Student Achievement Guided by Experience) is a self-funded experiential leadership program that provides education, professional development, mentoring and internships to UC Berkeley students who come from poverty and low income backgrounds. I serve on the Leadership Council for SAGE and want to help raise money for their cause.
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