Reality: Don’t Give Away Your Chicken

Read on tedwild.cc  | 2023.7.11 | #18

Happy Reality Day! Here is your weekly dose of reality to help you live 1% happier↓

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❤ 1 Insight From Me

Suppose you are 26 years old and just earned some money from your first job, for these 3 options:

• Give the money to your family, buy furniture for your parents, and clothes for your younger brother
• Save them
• Sign up for classes, buy lessons, try new hobbies

Which is the best?

Of course this depends on your specific situation, but overall, the third way is the best.

Because the money is your chicken, your most primitive capital. The value of original capital lies in reinvestment, not consumption.

What to invest in? The best investment is investing in yourself.

If you use money to buy stuff, Buffett’s $100,000 is not worth more than your $100,000. But Buffett’s 100,000 yuan may be just a meal (well, you get the idea), and your $100,000 is your life. How to use the first $100,000 may determine your entire life later.

Give others eggs, but never give them your only chicken.

When you have a lot of chickens and eggs, you can help more people if you want. You can easily buy an entirely new house for your family, because the house is just some eggs, instead of turning the original golden chicken into a few broken furniture.

Think long term, don’t give away your chicken.

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❤ 1 Insight From Others

Sometimes your best strategy is counter-intuitive. If you have a high paying job, but realize that charitable giving is what matters most to you, then the best strategy is not to quit your job to go hang mosquito nets in Africa, but actually to keep your job and make as much money as you can, while funding organizations in Africa that hang thousands of mosquito nets.
― Derek Sivers

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❤ 1 Small Step To Take

“Ten Years Later”:

When making any big decision, if you are not sure, ask yourself this question:

Looking back ten years later, which way will I not regret it?

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Do you find this issue of Reality helpful? Leave a reply to this email, I check every reply in my inbox.

Until next week,

Ted Wild

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PS: What You Need To Know About Your Thoughts

PPS: Born with a smiling face

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