Re: black_son_of_gray's Journal
Posted: Mon Aug 05, 2019 8:41 pm
That was another great post. I often don't read long posts but I'm reading yours word for word.
I have a 15 yo son (nearly 16) and I am thinking of teaching him about savings. So when he is 18 and left school he may have to pay us board and he might want to spend money on the gym for instance. Say that life costs him $8k per year. I think he should look to save up 20-30 times that amount prior to expanding his lifestyle. That gives him some stability. Sure he has to live with his parents but he can sustain that lifestyle indefinitely.
So people who save are more resilient to changes in the world that push them to repeatedly reinvent themselves.
None of this stops the reality that you have to reinvent yourself. Marriages breakdown. People die. People change. The world changes. FI though gives you some buffer against the economy changing within certain limits.
FI is a huge goal for me. I think the benefit of gaining FI shouldn't be underestimated. I also think though that some form of semi-FI with the ability to continually adjust gives you resilience as well. You are probably seeing that right now within your life.
Compare that to people who just live pay packet to pay packet.
I see ERE/FI as giving you some stability (I've chosen this work purposely) here though. So instead of having to constantly reinvent yourself via pressure from outside factors you would have some ability to be resilient and adjust more on your terms.black_son_of_gray wrote: ↑Mon Aug 05, 2019 7:58 pmWhen Harari says “the one thing they will need for sure is the ability to reinvent themselves repeatedly throughout their lives,” that sounds an awful lot to me like Kegan level 5 will have a substantial edge in the uncertain—but highly disruptive—near future.
I have a 15 yo son (nearly 16) and I am thinking of teaching him about savings. So when he is 18 and left school he may have to pay us board and he might want to spend money on the gym for instance. Say that life costs him $8k per year. I think he should look to save up 20-30 times that amount prior to expanding his lifestyle. That gives him some stability. Sure he has to live with his parents but he can sustain that lifestyle indefinitely.
So people who save are more resilient to changes in the world that push them to repeatedly reinvent themselves.
None of this stops the reality that you have to reinvent yourself. Marriages breakdown. People die. People change. The world changes. FI though gives you some buffer against the economy changing within certain limits.
FI is a huge goal for me. I think the benefit of gaining FI shouldn't be underestimated. I also think though that some form of semi-FI with the ability to continually adjust gives you resilience as well. You are probably seeing that right now within your life.
Compare that to people who just live pay packet to pay packet.