03/09/2024
I have realised that some people are born into families that encourage education while others are against it.
Some are born into flourishing economies encouraging of Entrepreneurship; others are born into war and destitution.
But realize that not all success is due to hard work, and not all poverty is due to laziness.
Keep this in mind when judging people, including yourself.
I heard Bill Gates once said, āSuccess is a lousy teacher. It seduces smart people into thinking they canāt lose.ā
When things are going extremely well, realize itās not as good as you think.
You are not invincible, and if you acknowledge that luck brought you success then you have to believe in luckās cousin, risk, which can turn your story around just as quickly.
Failure can be a lousy teacher, because it seduces smart people into thinking their decisions were terrible when sometimes they just reflect the unforgiving realities of risk.
The trick when dealing with failure is arranging your financial life in a way that a bad investment here and a missed financial goal there wonāt wipe you out so you can keep playing until the odds fall in your favor.
There is no reason to risk what you have and need for what you donāt have and donāt need. Itās one of those things thatās as obvious as it is, often overlooked.
Modern capitalism is a pro at two things: generating wealth and generating envy.
Perhaps they go hand in hand; wanting to surpass your peers can be the fuel of hard work.
But life isnāt any fun without a sense of enough too.
Capitalism is hard.
But part of the reason this happens is because getting money and keeping money are two different skills.
Getting money requires taking risks, being optimistic, and putting yourselfout there.
But keeping money requires the opposite of taking risk.
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