.png)
At twenty seven, it’s humbling to admit I haven’t achieved all I hoped to by now.
I don’t actually have a concrete answer to the question, “What is it you hoped to achieve?” It’s really just “more”. More financial success. More personal success. More career success. Just more.
On the flipside, the more constructive (and probably more reasonable) part of my internal monologue would remind myself of a few things:
(1) Success comes at a price.
This has become more clear to me over time. Reflecting on all the “successful” people whose accomplishments came at the expense of their families, physical health, or mental wellbeing makes one reevaluate.
The economist Thomas Sowell once said, “There are no solutions. There are only trade offs.” I think this framing is right.
A crucial part of doing life well is figuring out your boundaries (i.e., what sacrifices you’re willing to make in pursuit of “success”) and having the discipline not to cross them when tested.
At twenty two, I was willing to sacrifice a lot (e.g., time, energy, control, family, health). But at twenty-seven, there are boundaries I’ve set that I trust will serve me long term. [1]
(2) Compounding takes time.
A wild investing stat: over 80% of Warren Buffett’s $100+ billion net worth was earned after he turned 65. This fact is often used to explain the importance of playing the long game.
I actually have mixed feelings about this.
On the one hand, it’s encouraging to think about all the future benefits I’ll derive from “compounding” activities I’m currently engaged in. (In 2023, I listened to 863 podcasts, exercised all 365 days, read 30 books, and published 10 podcasts.)
On the other hand, there’s something to be said about enjoying “now”.
For example, in my early twenties, I allocated funds to my retirement accounts. But to think that I won’t enjoy the fruits of those investments until I’m 65 makes me wonder if that’s actually the best use of my capital at this time.
What if I instead used those funds to bet on myself in a big way today? Figuring out time-preference is tricky.
(3) Slow success >> Quick success.
There’s something to be said about building a solid foundation before hitting escape velocity. People who neglect this almost always fumble opportunities when they arrive.
I like to think that what I’ve been doing over the past couple of years is exactly this - building a strong foundation in order to sustain future success. Time will tell if I’m right or delusional.
What about 2024? What are my “goals”?
Overall, I sense I’m on the right path and that if I just continue to engage in the learning, thinking, and sharing I’m already doing, good things will come.
The question I’m asking myself these days is, “What risks am I not taking that I’ll regret later in life?” Henry David Thoreau wrote in 1854 that, “Most men lead lives of quiet desperation.”
What I fear most is being one of those men.
Having two older siblings who recently got married and started families, I have witnessed first-hand how the entire “game of life” can quickly change. With this in mind, it’s hard not to feel like a window is quickly closing as I enter my late twenties.
For me, one important criteria that will define whether 2024 and the years to follow are “well spent”, is to know that I appropriately exercised all the risks I could at this stage of life.
[1] If these boundaries prevent me from hitting my “goals”, that’s something I can live with.
