Wisdom Results Not in Process, It Results in Outcome

We humans tend to think of wisdom as a top-down procedure. A powerful mind gathers information, measures it against the lessons of accumulated experience, and makes a rational decision. But really, wisdom is not a process but an outcome; it’s the ability to live well, to antipicate and be prepared, to avoid disaster, to navigate troubles. It came through experience and pattern recognition or it can come through instinct and feedback loops, as it does with bees. Either way, it’s a process of trial and error, of learning from mistakes. One method emphasizes the individual’s role, while the other relies on genes and evolution. Our species tend to recognize only the former method, but nature seems to favor the latter.
Rowan Jacobsen

Originally posted 2011-04-26 16:48:56. Republished by Blog Post Promoter

Thoughts on Saving Money in Your 20s

Fast approaching the end of my 20s, I am in a good position to reflect a bit on savings in our 20s.

Is saving money too much for you handle?

Is saving money too much for you handle?

Saving is often discussed together with investing. While they may seem inseparable, we should distinguish between them. Saving is a learned behavior, a habit, and a discipline.

The habit of saving needs to be built up and then it becomes the foundation for future investing.

Having money saved in your 20s, and moreover, programming the habit of saving in yourself is the foundation of your financial future to come.

That said, to start saving, first you need to be clear about two things…

  1. How much you are making — This one should be easy for most people in their 20s because it comes from paychecks, calculating from the after-tax income rather than pre-tax.
  2. How much you are spending — For this one, we can first jot down the fixed part of the monthly expenses. For the variable expenses, spend a few months to learn the range and from there you can learn what their averages are.

Learning about these two things are required! If you really have strong intention about saving, you should be able to overcome both the resistance to sit down and track them and also the unwillingness to learn more about your personal finance… so that you are giving yourself the opportunity to self-denial.

Knowing how much you earn and spend leaves no room to question whether you are saving or not. In other words, doing so will help you to live within your means.

I know this seems very basic but basic things may be the hardest.

If you can keep tracking and maintaining your expense below income consistently staring in your 20s, there is no doubt that you will be in good shape.

You must have a saving account, or else...

You must have a saving account, or else…

Having a saving account separate from checking account and seeing the amount grow could be exciting… at least for me, because it’s similar to what one does playing video game.

That said, I think everyone is different and we all have different preferences and therefore, we will all maneuver in the gap between the money earned and the money spent differently for which I will break it down into three saving approaches.

Note, there is no “right” approach. Rather, it is more about understanding yourself and picking an approach that works for you.

Extreme saving

This is the most unlikely scenarios for people in their 20s because of the amount of discipline and sacrifice usually required to do it — like saving 70% or more of income. Not only is the discipline hard, I find it essential for the person to have identified clearly what they want out of life — like KNOWING you want financial freedom as early as possible — to subject himself through the process because otherwise, it may feel fruitless later on.

If you want to do this… ask yourself, for what purpose? Binging on anything could be unhealthy.

Slow and Steady wins the race

I find what I do fall more into this categories. the idea is to consistently save a good amount like 20-50%, on average. There will be months where it’s not possible but this is a balanced approach where you plan for the future while still able to enjoy things you like in the present.

Save minimally

If you’re in your 20s, perhaps your income is just not far above your expense or you are more into the experiential now, it is okay. Still, take the opportunity to learn how to consistently save by putting away 5-10% monthly into saving. Practice makes perfect.

As a last mention that really does not belong as a “saving approach,” there people who live paycheck-to-paycheck or even go into debt by overspending.

Without talking too much into debt here, it is safe to say that it is best for anyone in their 20s to stay away from consumer/credit card debt if they can help it. Not only will you not be saving, it takes away your future potential savings by having you to pay interest over time. Definitely try to minimize debt in your 20s.

Forget Kin, listen to me.

Forget Kin, listen to me.

At any rate, I leave you with what Bruce Lee’s father had said to him…

If you make $10 this year, always think to yourself that next year you may only make five dollars — so be prepared.”

And that… is why saving is a good habit to have.

What do you think someone in their 20s should know about saving?

Originally posted 2013-01-28 00:32:50. Republished by Blog Post Promoter

Questions for U.S. President George Bush Junior

I talked about reflecting on yourself to become a better “you” as everyday goes by.

I’m not a very political person, but I wonder if our president does any self-reflection.
I wonder if President George Bush Junior ever think to himself:

I’m already the president of U.S., the most powerful man in U.S. and possibly in the world, do I really need more power?
Maybe I should use my power more appropriately, for better cause, and not abuse the darn thing…

I (and my friends) have a crap load of money already, do I really have to help us obtain more?
Maybe we can use our time, money, and effort to help and advocate medical research or any kind of benefical social efforts.

I’m making more mistakes than I really want to when I speak in public…
Maybe I should work on my vocabulary and practice the presentation…

Had there been “a little” too many lives lost among all the wars I started here and there?
Maybe it’s time to find a way to stop them.

I have always been pushing democracy to the other parts of the world. Why don’t people understand?
Maybe they don’t understand the fundamentals of democracy. Wait, do I know the fundamentals of democracy? Is United States being a good example of democracy under my ruling?

Should I listen more to the opinions of the people I am supposed to be serving?
Maybe it’s time I listen to other perspectives.

Did I really change the government for the better?
Did I really make America a better place?
Have I contributed to the world positively?

And finally…
Am I being a good president? Am I being a good person?

Personally, I’m not sure if he can close his eyes and say with peace in his heart, “Yes”.
But that’s just me.

Do you have questions for our Mr. President?

Originally posted 2007-08-19 13:10:55. Republished by Blog Post Promoter

Life is… Life is not…

As I at in the office plugging away at the keyword today, or not, since I got distracted and something hit me…

Life is not sitting in an office/cubicle for most of the day.
Life is not climbing corporate ladders.
Life is not about fame.
Life is not being super-rich.
Life is not having MacMansion.
Life is not about drama.
Life is not killing each other.

Life is compassion.
Life is having genuine relationship.
Life is appreciating what nature offers.
Life is simple.
Life is living in the moment.
Life is changing.
Life is learning.
Life is singing.
Life is playing piano.

Yes, I am a bit of a dreamer and I like it. I tell myself to work hard to move more and more toward what “Life is” everyday.

Originally posted 2008-05-07 23:18:36. Republished by Blog Post Promoter

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