I had lunch with an ex-colleague from my corporate-duty-days yesterday.
She asked me how was it possible (sic!) to achieve financial freedom by the age of 44?
Hmm, that made me think.
I was not able to come up with a simple straightforward answer that could be fit into one crisp sentence that could be comprehended while munching on a bowl of uncooperative Pasta Carbonara.
So afterward, I started to list down some factors that worked in my case (individual results may vary):
- Sleep (not too much, but regular sleep of at least 6 hours)
- Not smoking (not even passive)
- Not gambling (not even socially)
- Not too much of alcohol (besides the occasional social drinking)
- Sex (lots of it and predominantly social)
- Not following the herd (different is better than better)
- Not having great material possessions but having few wants (spend less because the power of wanting trumps the satisfaction of getting)
- Not living a life by default but by design (break some bullshxx rules)
- Saving early (time in the market for the magic of compounding to take its course)
- Not timing the market (investing regularly and staying invested)
- Not putting all eggs in one basket (real diversification across asset classes and geographies)
- Not following my brain’s native leanings (being aware of my cognitive biases and thinking slow – often)
- Sharing my life with a wife with few wants who puts other’s interest above her own (that includes putting up with me)
- LUCK (Learning Usage of Correct Knowledge)
This is it.
That’s what my flawed brain came up with.
There could be more. I can’t remember.
There should be more because my memories are incomplete – always.
My memories are wrong at least as often as they are right. My brain happily reconstructs memories, though I am frequently fooled into thinking that the reconstructions are seamlessly recorded recollections. They are not. My brain is a superb miracle of errors and no one, except the brainless, is exempt.
Anyway, wherever you go, there you are.