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I'd like to have discussion on trading off your youth for wealth. I have read the book and I understand MJ's point that you work your a$$ off to gain the freedom to do whatever you want. However I go through periods where I'm ambitious and believe this but then other periods where I feel like I should reevaluate the need for prosperity at the expense of my youth. The opportunity cost of pursuing wealth is foregoing several years, weekends, experiences, hobbies and interests, travel, relationships all for the goal to be financially free.
To keep this discussion consistent I will define youth(ful) being 20-35 and 35+ midlife. I'm single and almost 28 with a big thirst for travel, adventure and experiencing as many facets of life as I possibly can. On my time's off when I'm doing fun stuff I love to do (hiking, surfing, going outdoors with friends) I return back with the feeling like it is not worth being so ambitious and foregoing these priceless experiences especially when I'm in the peak and prime time of my life. These experiences make me happy and fulfilled and wish to do them many times with my peergroup at this age.
The conundrum is if I live life to the max, travel and do some amazing adventures for the next 5-10 years I can get away with high-risk adrenaline activities where my body and bones are more forgiving than if I'm over 40. I could still flirt, have fun and experience new relationships with young beautiful women and interact with young social groups. I think this is important because as you age over 35 It becomes increasingly difficult to interact and maintain relationships with these fun and young people. I'm not necessarily talking about getting wasted and doing drugs but just fun activities young people do together. Things like roadtrips with your mates, or going abroad and going to festivals. These are best treasured with your peers. But when you are mid-life your peers at this age aren't interested in this nor have the time.
For example, I recall a time when I was looking for a travel partner for my big roadtrip in north america. This guy in his 40's had some kind of mid-life crises and called me, almost begging me to join my epic adventure. I didn't want him on board because there was a huge generational gap between us and I wanted to hangout and experience something like this with people my own age. Yes I was shallow but this illustrates the point I'm about to make.
Let's say I decided to be dogged in my pursuit to wealth and gain financial freedom by the time I'm 40. I have all the time and money to choose what I want to do. But I would have missed out on all the times my friends went on memorable trips and experiences. I would now be in a generational gap to interact with youthful social groups and activities. Now I could have the free time to do all the roadtrips, camping, outings BUT all my friends would be well past that era and be busy with their own career/family/mortgage.
At this time of life I would be like that guy wanting to do these fun and adventurous things but would be seen out of reach to mingle with the college people. Yes it's a part of growing up. Yes I'm aware mid-life people still can have fun and do recreational activities , but very rarely as this is the age where your peer groups are focused on having a family and not much wild adventures.
You rarely see 40-50+ year olds at festivals and when you do they look out of place don't they? So what you may say? Well you really aren't going to be chasing 20 year old girls cause that will be just creepy and you're well past that era. You increasingly lower your chances with having fun with girls in their 20's and going on whimsical adventures.
However if I were to choose the path of hedonism and embrace my youth until I am satisfied, it would be just as difficult to be entrepreneurial and pursue wealth a late age. In your mid-life there are pressures in finding a spouse and building a family which are big obstacles in being a successful entrepreneur. It also means foregoing on seeing your kids grow up when you're busy hustling your a$$ off.
When you're young you have the advantage of being in optimal health and fitness where you can engage in high-risk activities. Even if you kept healthy and fit, we eventually lose strength and endurance and still can get terrible diseases, illnesses, chronic pains, as our bodies deteriorate. Being at an optimal age and health you can get away with high risk activities (both recreational and entreprenurial). The question is which one do you value higher?
I am reminded of an elderly couple whom i bumped into on my great roadtrip and their regrets was that they did not travel enough when they were young. They didn't have the time once they had a house and kids and only now started traveling in their 60's. They urged me to travel as much as possible and while you still have no commitments. I am also reminded of a friend of a friend who was a successful businessman that slaved his a$$ off throughout his 20's and 30's and cashed out big in his late 30's. He is now trying to catch up on all the missed time with his friends but now they are all married and have kids.
So I would like to have a meaningful discussion in trading off your youth for wealth. I know I'm speaking to a highly ambitious audience where the answers would probably be skewed towards being hustler. But i feel like it is important for us to reflect on the bigger picture of life and doing things that fulfill us in the very short amount of time we have on earth.
How do you draw the line in being fulfilled while pursuing wealth? At what time in your life do you stop working so much and enjoy life? What will you do when you accomplish your wealth target goal? Could you make sacrifices and make more time for the things you love to do? Do you have a work-life balance you are happy with?
I would love to hear from our older members but also our younger members and if you don't mind posting your age or age range to give us perspective of your views.
To keep this discussion consistent I will define youth(ful) being 20-35 and 35+ midlife. I'm single and almost 28 with a big thirst for travel, adventure and experiencing as many facets of life as I possibly can. On my time's off when I'm doing fun stuff I love to do (hiking, surfing, going outdoors with friends) I return back with the feeling like it is not worth being so ambitious and foregoing these priceless experiences especially when I'm in the peak and prime time of my life. These experiences make me happy and fulfilled and wish to do them many times with my peergroup at this age.
The conundrum is if I live life to the max, travel and do some amazing adventures for the next 5-10 years I can get away with high-risk adrenaline activities where my body and bones are more forgiving than if I'm over 40. I could still flirt, have fun and experience new relationships with young beautiful women and interact with young social groups. I think this is important because as you age over 35 It becomes increasingly difficult to interact and maintain relationships with these fun and young people. I'm not necessarily talking about getting wasted and doing drugs but just fun activities young people do together. Things like roadtrips with your mates, or going abroad and going to festivals. These are best treasured with your peers. But when you are mid-life your peers at this age aren't interested in this nor have the time.
For example, I recall a time when I was looking for a travel partner for my big roadtrip in north america. This guy in his 40's had some kind of mid-life crises and called me, almost begging me to join my epic adventure. I didn't want him on board because there was a huge generational gap between us and I wanted to hangout and experience something like this with people my own age. Yes I was shallow but this illustrates the point I'm about to make.
Let's say I decided to be dogged in my pursuit to wealth and gain financial freedom by the time I'm 40. I have all the time and money to choose what I want to do. But I would have missed out on all the times my friends went on memorable trips and experiences. I would now be in a generational gap to interact with youthful social groups and activities. Now I could have the free time to do all the roadtrips, camping, outings BUT all my friends would be well past that era and be busy with their own career/family/mortgage.
At this time of life I would be like that guy wanting to do these fun and adventurous things but would be seen out of reach to mingle with the college people. Yes it's a part of growing up. Yes I'm aware mid-life people still can have fun and do recreational activities , but very rarely as this is the age where your peer groups are focused on having a family and not much wild adventures.
You rarely see 40-50+ year olds at festivals and when you do they look out of place don't they? So what you may say? Well you really aren't going to be chasing 20 year old girls cause that will be just creepy and you're well past that era. You increasingly lower your chances with having fun with girls in their 20's and going on whimsical adventures.
However if I were to choose the path of hedonism and embrace my youth until I am satisfied, it would be just as difficult to be entrepreneurial and pursue wealth a late age. In your mid-life there are pressures in finding a spouse and building a family which are big obstacles in being a successful entrepreneur. It also means foregoing on seeing your kids grow up when you're busy hustling your a$$ off.
When you're young you have the advantage of being in optimal health and fitness where you can engage in high-risk activities. Even if you kept healthy and fit, we eventually lose strength and endurance and still can get terrible diseases, illnesses, chronic pains, as our bodies deteriorate. Being at an optimal age and health you can get away with high risk activities (both recreational and entreprenurial). The question is which one do you value higher?
I am reminded of an elderly couple whom i bumped into on my great roadtrip and their regrets was that they did not travel enough when they were young. They didn't have the time once they had a house and kids and only now started traveling in their 60's. They urged me to travel as much as possible and while you still have no commitments. I am also reminded of a friend of a friend who was a successful businessman that slaved his a$$ off throughout his 20's and 30's and cashed out big in his late 30's. He is now trying to catch up on all the missed time with his friends but now they are all married and have kids.
So I would like to have a meaningful discussion in trading off your youth for wealth. I know I'm speaking to a highly ambitious audience where the answers would probably be skewed towards being hustler. But i feel like it is important for us to reflect on the bigger picture of life and doing things that fulfill us in the very short amount of time we have on earth.
How do you draw the line in being fulfilled while pursuing wealth? At what time in your life do you stop working so much and enjoy life? What will you do when you accomplish your wealth target goal? Could you make sacrifices and make more time for the things you love to do? Do you have a work-life balance you are happy with?
I would love to hear from our older members but also our younger members and if you don't mind posting your age or age range to give us perspective of your views.
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