Humans: Some of our behaviours come naturally and some are learned or acquired.
Breathing is one that comes naturally right? Some things we learn early, like breathing, and some later like investing and understanding how money works in relation to the world and ourselves. Some never learn that little gem though do they? [That's rhetorical, no need to answer.]
I visited my dad at the nursing home yesterday and whilst we conversed he isn't really ever with it these days as he has dementia. He often doesn't know who I am and certainly doesn't remember things correctly. Today he was telling me how my mum died from cancer holding his hand in a hospital bed. Now, she certainly did, but he wasn't there at the time, he was with me racing up to the hospital to be with her in her final moments. We didn't make it - A post for another occasion, if ever. He just remembers it through the fog of dementia.
Anyway, his quasi-non compos mentis state means he can't impart his knowledge or wisdom to me, as most fathers will [should]. It's ok though, I'm 49 years-old and know some stuff already so it's all good. Still, today I thought about my upbringing and the examples my parents set, the information and wisdom they imparted and what they may have meant to me moving forward in my own life.
I was raised in a family where there wasn't a lot to go around; We had shoes on our feet and food on the table but life was somewhat, well, basic I guess is the word. Don't get me wrong, it was mostly enjoyable and there's not much I'd change so it's not a sad sob-story by any means. [No pity required or desired.]
Not having much meant things needed to go further and so having some financial-grounding, an understanding of how money worked, was critical and I have to say in that regard I think my parents set good examples, even if they didn't actively set out to do so. I learned by osmosis I guess. My dad was one of the hardest workers I've seen and that rubbed off on me I guess.
As a guy who didn't finish high school, or attend university, my learning has been done in the field. I was out of the parental home at the age of seventeen and a half [living with my girlfriend Faith - Now wife], working a job in a GM auto plant and we learned life on the fly, by accident and by failing. Again, not all bad, but tough at times.
Now I'm in a professional career, in an executive role far up the food chain, my wife runs our business and yep, we are still out there learning and failing when it comes to many aspects of life including financial intelligence. We have some things, go without others and live the best we can.
I don't think I'd do it very differently if I had the chance; Other than a few things...Everything we have, we have earned, and we continue in that fashion still. Reward for effort means more to us than plain old reward - We don't extend our hands for handouts, from anyone. Never have.
So, considering all of that I would have to say we feel reasonably well grounded when it comes to financial matters, and what I don't know my trusted advisors fill in for our consideration and decision. I still learn though fortunately...I've been called many things in life but one of my favourites is sponge as I am exactly that when it comes to knowledge. When I stop learning I'll want to check out. [That means die.]
I asked one of my clients a long time ago, a very rich one, for a financial tip [It was relevant to the conversation at the time.] He said, "spend less than you earn"... That's it. Pretty simple really. Obviously it goes deeper than that in practicality but I've never forgotten what he said and so that's what we do. We took that small amount of information, applied some of our own flair and some trusted-advisor-magic, and are on track; Failing at times still of course, but gaining too.
I wonder...Where has your financial grounding come from, or was there someone who offered a little gem like my client above that you've latched onto and expanded upon?
There's no wrong answers here, I'm just curious as to what has brought you guys to the decisions or ethos you've deployed from a financial or investment perspective. I know none of you were born with an innate ability for financial-intelligence so come on...Where did yours come from and how have you applied the information to your lives?
Tomorrow isn't promised - Design and create your ideal life, don't live it by default
An original post written by a human
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