Simple Ideas That Should be Taken Very Seriously
“Take a simple idea, and take it seriously.“- Charlie Munger
-- Combinations of these ideas could be ingredients to life changing ways of living.
Investing typically is financial. Investing is much broader. Investing could be financial, educational, well being, physical, networking...... Investing is a time choice. It's all about opportunity costs. There are so many choices. You can choose to do nothing which could be an investment in your well being or you can choose to invest in an educational class or you could choose to simply go out an exercise which would be an investment in your physical health.
Einstein said compounding is the eighth wonder of the world. (at least he has received the attribution and I haven't invested the time to figure out if the attribution is correct).
Compounding has immeasurable returns for your investments. The company stock you invested in could compound returns for you and bring you a healthy return. The knowledge you acquire in an online class could compound your overall educational level. The workout you did today where you pushed yourself harder than a week ago is compounding your overall physical health.
What if you improved yourself or your situation every year by 2%? After 10 years you wouldn't be 20% better you would be 22% better off.
Genius is not from making things complicated. The best ideas are simple and explainable. Every extra thing needed to make a system work is another thing that can break. Simplicity helps a system become anti-fragile.
If someone was to apply simplicity to this list of ideas it could easily be cut down to 3 or 4 core ideas.
Live by the golden rule. Treat others.....
It costs you nothing to smile to a stranger on an elevator or just to be nice to someone.
5. Pass It On
Appreciate the good things and look for ways to help others. Mentor, donate your time, look to improve the life of someone else.
6. It Depends (Think in Probabilities)
People tend to think linear and binary (yes/no). The world works in probabilities. The world is also random. Each result has a process (or lack thereof) and an outcome or outcomes. No matter how good your process random chance has the potential for causing good and bad outcomes. (resulting)
Show up, continue to show up. Real gains are from playing the long game.
Don't blame others. In each outcome take ownership, even if your attribution was small or even if you didn't have much influence on the outcome. What could you have done differently if you had the chance to do it over?
There is no pain in the now. - Eckhart Tolle
Be here right now.
The only way to make good habits stick. As Jocko Willink talks about constantly. The path to freedom is through discipline. You want freedom in your finances, then be disciplined in how you save and spend your money. If you want freedom in your physical health than be disciplined about eating decently and exercising.