What a week it has been, Wealthwokers.
Here are my hottest tips for this week.
WHAT I DID
Had a baby!!!
Well, technically my wife had a baby, but I helped. On Thursday we welcomed into the world the newest member of our Wealthwoke community – little Anastasia Catrina Wiener. She is happy and healthy and totally the reason why the Weekly Whammy is late this week (and may be slightly less articulate than usual).
I am so grateful for this little bundle of joy, to go with my bigger bundle of joy, who is almost 10 now. I am also grateful that I am in a position to be able to have the time to spend with both my daughters and really be present with them (the little one has finally decided to nap, so I thought I would write this). While I know I have had advantages and luck in life, I don’t believe it has just been a case of the stars aligning to put me in this position.
Rather, I believe it has been a combination of hard work and most importantly, conscious choices to take some risks in starting a business and then to know when it was time to get out.
I can’t wait to share this journey with her.
Here are my hottest tips for the week.
THINGS I READ
Factfulness: Ten Reasons We’re Wrong About the World – and Why Things Are Better Than You Think
By Hans Rosling.
I’m not kidding when I say this was one of the most thought provoking books I have ever read.
The book starts off by asking 13 multiple choice questions about the world. These questions include things we really should know, like what has happened to the proportion of people in the world living in extreme poverty, what percentage of girls in low-income countries finish primary school, what is the life expectancy in the world today and what percentage of the world’s 1 year olds have been vaccinated against some disease?
Rosling has given this test to thousands of people from all walks of life and has come to the conclusion that the vast majority of us think the world is poorer, less healthy, and more dangerous than it is. In most cases, less than 10% of people got the answers to each of these questions correct.
From an investment perspective, I was really intrigued by his notion that we should no longer be dividing the world into the “developed world” and the “developing world”, saying it’s an outdated view. Instead, he offers a four category model based on income and reveals how far along this chain many “developing countries” have come in the last 50 years.
The book has also made me a lot more discerning about the information I consume. I can speak from experience that the media tends to follow the axiom that; “If it bleeds, it leads.” It not just the media though. For survival reasons, we are biologically predisposed to have cognitive biases towards prioritising information that signals danger.
There are very few books I have read that genuinely change my thinking about something in a lasting and meaningful way. This is one of them.
THINGS I LISTENED DO
Jay Shetty (On Purpose podcast series): David Goggins on dealing with childhood traumas
I read David Goggins’ book “Can’t Hurt Me” earlier this year so I was pretty excited to see him feature on a podcast by the unbelievably insightful and articulate, Jay Shetty. Goggins is a hardcore mofo. Amongst other things he went through Navy Seal training three times, qualified as a US Army Ranger, ran an ultra-marathon with barely any training and set the world record for the most pull-ups in 24 hours.
The podcast mostly covers his views that a lot of issues we have as adults stem from childhood experiences and emotions and unless we address these, we will never be able to move forward. He also believes in having honest conversations with ourselves and others, to prevent us falling into a comfort zone.
I don’t necessarily agree with everything he says and his need to constantly inflict pain upon his body and mind seems to suggest he hasn’t made peace with himself and the world yet. But his determination to pull himself out of some pretty dark places is truly inspirational for anyone who has experienced a difficult childhood (or adulthood for that matter).
Have a great weekend, Wealthwokers.