Replying to Avatar HODL

Wealth is important and necessary, but I’ve met far too many rich people who are unhappy.

Usually because in the pursuit of wealth they neglected their health or relationships. Sometimes both.

You should strive to max all three of these variables as best you can.

If I was to give life advice to someone just starting out in life, I’d say prioritize your health in middle school, high school and college. Focus on eating right and getting in amazing shape. You’ll build the habits that will carry you through the rest of your life and you’ll look your best during the years when dating and sex matter a lot. Providing you more ability to find a high quality life partner, because long term high trust relationships are crucial for sustained happiness contentment etc…

Then in early adulthood go hard on the pursuit of wealth. Your twenties are the time to work your ass off and put yourself in position to own your time down the line. Better to give up 5-10 years now and own the next 30, rather than goof off in your twenties and end up stuck as a wage slave for 30 years. Save and invest aggressively, take risks, embrace sacrifice. Allow your peers to make fun of you, knowing you have a plan. Let compounding work for you.

Retire in your 30’s sometime around the time you’re starting your family and spend the rest of your life devoted to your kids, spouse and interests. Refocusing all efforts on health and happiness. Don’t take a single action unless it brings you more in either of those dimensions, while simultaneously tending to and growing the wealth you built up to this point.

People think for whatever reason that this sort of life path is not attainable, but it’s very much within the reach of the average college educated westerner. Most just have a defeatist mindset, which ultimately lead them in the wrong direction.

Good suggestions but the retirement bit I don not get very well. Thinking about gaining so much money that you do not have to work no more, feels so fiat and kinda impossible in a bitcoin world. Maybe I'm missing something.

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You still end up working. You just don’t work by selling your time anymore.

So you never really retire, you are just getting some time off for the family, but two parents are not needed to be constantly in the life of a child, so you can really continue to "work" (as per doing something for the society) but giving priority to the family.

I get what you say, I just don't like the idea that people get with the work your ass of and then live as a rent-seeker.

I know you do not mean it like that, but this is what the normal people understand.

Personally all of my work is cognitive and it never ends. As an investor I’m always trying to understand things better, model the world more effectively, forecast trends etc… working for other people was just getting in the way of that. So when I no longer had to anymore I stopped. I still do the same mental work.