Generation-X' Journal

Where are you and where are you going?
Generation-X
Posts: 334
Joined: Mon May 06, 2013 4:43 am

Re: Generation-X' Journal

Post by Generation-X »

Charlie Munger at Daily Journal annual meeting – 2/12/2020

'Charlie answers a student who wants to get rich in finance.'



“Live within your means...I think you’ll be happier if you reduce your expectations rather than satisfy them."

"You know how many of us are fairly content with pretty moderate success - that is worth knowing. Because that's what most of us are gonna get."

https://www.youtube.com/watch?v=HS8neXk ... .be&t=6535

1:48:56 - 1:52:22

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Lemur
Posts: 683
Joined: Sun Jun 12, 2016 1:40 am

Re: Generation-X' Journal

Post by Lemur »

@Generation X

Good share. Thanks for this! Munger is full of wisdom.

Generation-X
Posts: 334
Joined: Mon May 06, 2013 4:43 am

Re: Generation-X' Journal

Post by Generation-X »

He sure is!

Generation-X
Posts: 334
Joined: Mon May 06, 2013 4:43 am

Re: Generation-X' Journal

Post by Generation-X »

The rolling library


I currently have 7 books on loan. 5 are permanent. 2 are rolling.

The 5 permanent are - Your money or your life, by Joe Dominguez and Vicki Robin.

The others are -

If You Can - How Millennials Can Get Rich Slowly, by William J. Bernstein.

Warren Buffett’s 3 Favorite Books: A guide to The Intelligent Investor, Security Analysis, and The Wealth of Nations, by Preston Pysh


As the readers advance, I have asked that the books be returned and they can be exchange for another.

The library is open to anyone that show interest, and in reach. It is after all, a rolling library.


Generation-X
Posts: 334
Joined: Mon May 06, 2013 4:43 am

Re: Generation-X' Journal

Post by Generation-X »

Change is absolute and many times a necessity to continue the journey

To renew perspectives, to rejuvenate, to re-evaluate and to focus and think -

May you stride closer toward the light.

Truth, Empathy, Morals, Intelligence and Freedom

And above all else,

God, family and sacrifice

for they are the greatest adventure of all time.


https://www.youtube.com/watch?v=lHytjEj7B9g

lux sit

Generation-X
Posts: 334
Joined: Mon May 06, 2013 4:43 am

Re: Generation-X' Journal

Post by Generation-X »

A journey of a thousand miles begins with a single step.



Some time ago, I reached my minimum financial independence goal.

Work became optional.

I am free.


It has taken seven years, since the start of this journey.

I managed to save over $500,000.

But the biggest prize wasn't the money.


Thank you all.

May you succeed in your own journey, I wish you well. Godspeed.


A new adventure awaits. :D

wolf
Posts: 1053
Joined: Fri Jan 06, 2017 5:09 pm
Location: Germany

Re: Generation-X' Journal

Post by wolf »

That's great news! Congrats gen-x!

ertyu
Posts: 1005
Joined: Sun Nov 13, 2016 2:31 am

Re: Generation-X' Journal

Post by ertyu »

Congratilations!! Any plans? Would love to hear updates from you on how it's going

Mister Imperceptible
Posts: 1343
Joined: Fri Nov 10, 2017 4:18 pm

Re: Generation-X' Journal

Post by Mister Imperceptible »

Image

Generation-X
Posts: 334
Joined: Mon May 06, 2013 4:43 am

Re: Generation-X' Journal

Post by Generation-X »

Thanks guys. I believe this will be my last post on this journal, until perhaps a new one. :lol:

It's really true. "It's not about the destination; It's about the journey."

To quote one of my heroes -

"I never understood before why I don't want to do it that way - and now I suddenly do. The whole idea is to have adventure. The way to have adventure is to do things at a lower level. It's not to ride on the freeway and to stop at the Holiday Inn!"

Be kind: https://www.youtube.com/watch?v=6W0lX-zwFa0

For we are, but a pale blue dot.

Image

Frita
Posts: 571
Joined: Thu Mar 15, 2018 8:43 pm

Re: Generation-X' Journal

Post by Frita »

Congratulations on hitting your number! Why not just change your journal name and continue on?

classical_Liberal
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Joined: Sun Mar 20, 2016 6:05 am

Re: Generation-X' Journal

Post by classical_Liberal »

Congrats Gen X!

Generation-X
Posts: 334
Joined: Mon May 06, 2013 4:43 am

Re: Generation-X' Journal

Post by Generation-X »

Thanks guys, really. :D

I have decided to move on to the second phase of the early retirement - Investing.

I've spent 7 years saving. Now I am ready.

In the spirit of a new adventure, I've moved to a new home to seed's journal. It will be very narrow in scope - pretty much just investing.

My purpose here is to begin a new adventure in clean slate and to record it in real time with all the warts and all. I plan to make lots of mistakes and have lots of failures so that I can learn in the process. And to leave the knowledge to my little ones. And if this helps other too, then I would have been fulfilled.

Again, thanks guys! Best of luck to your journey.

P.S. - MI, I'm sticking that logo onto my van, if you don't mind. It's awesome. :D

Mister Imperceptible
Posts: 1343
Joined: Fri Nov 10, 2017 4:18 pm

Re: Generation-X' Journal

Post by Mister Imperceptible »

You bet! Put a half mil into SPY puts and let it ride ;)

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