Apex Money Posts

Sometimes, the most obvious thing doesn’t get mentioned. Or the people who talk about it just assume that everyone knows it.

The Secret to Conventional Success We Don’t Talk About [Money with Katie] – “The people with everything from the bodies you want, to the lifestyles you desire, and even the jobs you envy are not more disciplined than you are—they’ve just found approaches they enjoy. They like what they do.” If you like it, you’re more likely to do it.

This, coupled with the ideas:
1. Success must come with struggle and
2. You must to optimize everything leads to suboptimal outcomes.

Those two have led to bad outcomes. The 2nd best workout plan you do is better than the best workout plan you don’t do.

Getting to Happy [Adam Grossman on Humble Dollar] – “There’s a fair amount of evidence supporting the notion that comparisons detract from our happiness. Many people find it surprising, for example, that Nordic countries tend to be rated among the happiest in the world. They aren’t the wealthiest, and their weather is among the worst. What they have in their favor, though, is relatively less income inequality than in the U.S. The implication: As a driver of happiness, the amount someone earns is less important than what he earns relative to his peers.”

The Untold Story of Napoleon Hill, the Greatest Self-Help Scammer of All Time [Gizmodo] – “Napoleon Hill is the most famous conman you’ve probably never heard of. Born into poverty in rural Virginia at the end of the 19th century, Hill went on to write one of the most successful self-help books of the 20th century: Think and Grow Rich. In fact, he helped invent the genre. But it’s the untold story of Hill’s fraudulent business practices, tawdry sex life, and membership in a New York cult that makes him so fascinating.” Tawdry!

Happy Wednesday family, it’s Tarsha from the Plutus Foundation. We were going back and forth in deciding which stories we wanted to share with you this week. It was tough, but worth the fight. Enjoy!

Here’s what we wanted to share with you this week.

The Price of Security. [J L Collins] — “Security is mostly a superstition. It does not exist in nature, nor do the children of men as a whole experience it. Avoiding danger is no safer in the long run than outright exposure. Life is either a daring adventure, or nothing.” – Helen Keller (Submitted by J. Money.)

Making Plans to Make Your Pensions Profitable After Retirment. [Enemy of Debt] — “Are you looking forward to the day of your retirement? Some people cannot wait for retirement, while others are still apprehensive for various reasons. Retirement means differently to people, but there is one thing you should do. You should review your pension regularly to ensure it is on track to give you the income you want.” (Submitted by Tarsha.)

How to Prepare for a Recession Like a Financial Expert. [Her First $100K] — “How do you even begin to prepare for a recession in a way that actually makes a difference, rather than just shooting in the dark? We gathered insight from some of our favorite, most trusted financial creators.”(Submitted by Harlan.)

The price of a barrel of oil is always a popular talking point for financial news. Since we all need gasoline, gas prices are a hot topic too – and you get gas from oil. 🙂

Do you remember when the price of a barrel of oil went negative? It was in April 2020, when a mix of factors pushed the price of oil down. Jack Raines of Young Money (great newsletter btw, you should subscribe) breaks it all down and how a group of guys in England made $660 million off it. Wild stuff with a great explanation every step of the way.

$660M in a Day: The Big Oil Short [Young Money] – “But the most insane market moment in the pandemic era wasn’t a meme stock, cryptocurrency, or SPAC. It was sweet, sweet crude oil. Before GameStop started, DogeCoin barked, and Trump tried to make SPACs great again, the oil market experienced the unthinkable: On April 20th, 2020, oil hit -$40 per barrel.” Black swans are more common than you think!

How to Choose Your College Degree [giansegato] – “As you start thinking about what to major in, start pondering this very scary question: what professional area do you want to get in? I know it’s hard to even process. But you must start dipping your toes in the water if you wish to make an informed decision. Leave your subject-based thinking behind. There’s no Computer Science: there’s web development. There’s no Economics and Finance: there’s trading behind a monitor until later hours. There’s no Psychology: there’s fundraising during fancy dinners with people you may or may not personally like. There’s no Pharmacology: there’s selling vitamins behind a counter to the elderly.”

We finished watching The Bear on Hulu and really enjoyed it – you should check it out if you like to get stressed out watching a show. 🙂

When I Watch The Bear, I See My Life [Esquire] – “And then he stares at the camera with sad blue eyes and says something unexpected. “I felt like I could speak through the food, communicate through creativity… The deeper into this I went and the better I got, and the more people I cut out, the quieter my life got. And the routine of the kitchen was so consistent and exacting and busy and hard and alive and I lost track of time and he died.” I stopped and rewound and watched it again. And again. This was my life. My everything.”

My birthday is around the corner and it was only in the last few (pandemic) years that I’ve come to fully accept a key idea I’ve long believed – I am responsible for my happiness.

The goals I choose to pursue, the ways in which I spend my time, and the people I surround myself with are my responsibility.

We spend much of our youth being told what to do. This is especially true in a Chinese household, where you listen to your parents and do what they tell you. My parents were pragmatic in that we could discuss what we were told, to a limited degree, but ultimately we did it. To this day, when my parents tell me to do something, I do it. It’s just how it goes and I’m OK with that.

But when you’re used to be told what to do, there’s comfort in that. You don’t have to wonder if you’re working on the right things. When you aren’t told, whether by parents or by society, it can be very difficult. That’s what happens when you retire because you “don’t have to work” – and that’s a huge challenge. I love articles that discuss that transition and today’s first post hits it on the head.

Nobody optimizes happiness [Dynomight] – “My favorite evidence comes from the FIRE (financial independence / retire early) community. There are tons of people who work hard, minimize expenses, and retire young. Some people who do this are totally happy. But there are also a lot of reports like… ‘I retired at 39. It sucked after about 6 months. I went back to college for a bit and eventually went back to work in a new career. Boredom was the worst.'”

I last shared this image back in January of 2021 and after a year and a half, I think it needs to be revisited:

Who do we spend time with across our lifetime? [Our World in Data] – “Who we spend time with evolves across our lifetimes. In adolescence we spend the most time with our parents, siblings, and friends; as we enter adulthood we spend more time with our co-workers, partners, and children; and in our later years we spend an increasing amount of time alone. But this doesn’t necessarily mean we are lonely; rather, it helps reveal the complex nature of social connections and their impact on our well-being.”

Simon Sinek’s Life Advice Will Change Your Future — Most Underrated Speech [Motivation Core] – “Working hard for something we don’t care about is called ‘stress’. Working hard for something we love is called ‘passion’.” It starts at Mach 1 and only goes faster.

Howdy, neighbors, and welcome to this week’s final installment of Apex Money. Here’s what we have for you today…

How to support your loved ones financially without derailing your plan. [Gen Y Planning] — “You’ve probably heard that mixing family and money is like oil and water with different opinions, expectations, values, and communication exploding like fireworks on the 4th of July. It doesn’t have to be like that. Here’s the thing: Financially supporting your loved ones can be a beautiful and rewarding way to make the most of your resources…if you do it with purpose and intention.”

How to keep money from tearing your friendships apart. [Vox] — “Money discrepancies among friends can dredge up some uncomfortable emotions, including guilt and shame around suggesting lower-cost alternatives, or frustration if you feel like you’re constantly needing to make cheaper but less exciting plans. These emotions tend to arise when you aren’t transparent with your financial expectations.”

A meaningful life is impossible without suffering. [Big Think] — “One explanation for why people willfully incur pain is to enhance pleasure through contrast. Just as darkness is only possible because light exists, we experience pleasure against the backdrop of pain. In order to maximize the pleasure of an experience, you often need a big dose of its opposite. That’s one reason why a dip in the hot tub feels especially good after a frigid winter day, or why a beer tastes extra refreshing after eating a spicy dish.”

Lastly, here’s a fun little non-financial video I enjoyed last week. It’s a Serbian couple dancing the tango…to “Lose Yourself” by Eminem. It’s fun.

With that, we’ve reached the end of another week. I hope yours was a good one. And I hope that your weekend will be even better. Take care!

Good morning, money nerds.

I’ve been thinking a lot lately about the gap between how we perceives ourselves and how others perceive us.

A life-long friend “broke up” with me last week. He told me I’m dysfunctional and said he never wants to see me again. This came as a shock. For one, I had no inkling I’d done anything to offend him. For another, I’ve never had anyone tell me anything remotely close to this.

I value my friends and do my best to prioritize and support them. Yet, I obviously failed in this case. I cannot discount this fellow’s perception because that’s his lived experience of who I am. To me, I’m true and loyal friend. To him, I’m a selfish asshole.

Anyhow, that’s all a lead-in to today’s set of articles. Each is sort of related to my experience. It was a little eerie to find them all, actually, and to realize they applied to me…

You are always the Other Person. [Raptitude] — “Recognizing our status as a full-time Other Person could certainly help us be more humble and more aware of our effect on others, on the energy we bring into a room (or suck from it). We all know how deflating it is when an Other Person is being difficult, self-absorbed, overly negative, or uninterested. We also know how welcome it is when the person you’re dealing with is easygoing, interested, and pleasant. Simply by remembering that your role to everyone else is that of Mostly-Not-There Other Person (and that everyone else is also a Protagonist) it’s easy to be a better Other Person.”

Our stories are all we really know. [Seth’s Blog] — “When someone rejects you for a job, they’re not rejecting you. How could they be? They don’t know you. Instead, they’re rejecting their story of you, the best approximation they had combined with the complicated story they (all of us) tell ourselves about our needs, dreams and fears.” Short but sweet.

How to stay cool when you’re put on the spot. [Harvard Business Review] — “A strong or surprising statement from a client or colleague can trigger a rush of the stress hormones adrenaline and cortisol as the brain’s amygdala activates a fight-or-flight response. I’ve seen people go red in the face, appear stunned, and look tearful. While it’s hard to stop this immediate, biological response, you can recognize it for what it is and take time to center yourself, rather than letting yourself become more emotional.”

Today’s video is related to personal finance for once. My pal Stevie B organizes the regional Camp FI events around the U.S. These are weekend retreats where like-minded folks can come together in a casual setting to talk about financial independence and early retirement. I’ve been to several, and they’ve all been great.

Anyhow, Steve asked me to help publicize the upcoming Camp FI: Texas. This year’s event will take the weekend of September 9th to 12 just north of Dallas in Denton, Texas. Apex Money readers who register for Camp FI: Texas by Monday, August 15th, will receive a $50 discount on adult tickets when they use the promo code Apex at checkout.

Here’s an eight-minute video highlight what Camp FI: Texas is all about.

It’s been two years now since I last visited a Camp FI. I can’t make it to any for the rest of 2022, but I fully intend to attend one (or more) in 2023. I miss them.

Okay, that’s it for today. I’ll be back tomorrow to take us into the weekend. Wheeeee!

Hey there, it’s Tarsha from the Plutus Foundation. The team and I dug deep into our vault and pulled these amazing articles for you read and enjoy.

Here’s what we wanted to share with you this week.

How to Create More Freedom with a Portfolio Career. [ Money Flamingo] — “Designing a portfolio career is really not much different from creating an investment portfolio. It’s a way to combine different jobs, self-employment, volunteer and freelance roles. This approach offers more control over your time, freedom to explore new options and the ability to create your perfect work-life blend.” (Submitted by J. Money.)

Reader Case Study: Can I retire at 60 and Pay for My Kids’ College? [ Frugalwoods] — “Jenny and her husband Will live in the Upper Midwest… the couple always planned for him to retire at 60 and to pay for their kids’ college educations. However, now that the date is nearing, Jenny’s not sure this is actually feasible.” (Submitted by J. Harlan.)

Embrace The Underdog Within to Win: Who You Are Is Good Enough. [Financial Samurai] — “Are you an underdog looking to succeed in this brutally competitive world? Do people ignore you, discredit you, think you’re dirt, or even hate you for just being you? Well, welcome aboard!” (Submitted by Tarsha.)

Inflation: Last Week Tonight with John Oliver (HBO). [Last Week Tonight] — “John Oliver discusses what causes inflation, what we’ve done about the current round of it, and, of course, makes the smartest investment of all time.” (Submitted by Harlan.)

Today is Tuesday, friends, and this is Apex Money. Today’s stories are all about paying attention. And I feel like I should preface the first piece by saying that while it’s about a Japanese word and how to use it, if you read the entire article you’ll see that it’s also about a philosophy of gratitude.

The meaning of “itadakimasu”. [Tofugu] — “The gratitude of itadakimasu reaches beyond the dinner table and into our everyday lives. Whatever you receive, be it a hat, a job, or a ride to the airport, receive it with appreciation. Because the heart of itadaku is a thankfulness for the things you’ve been given and a determination to make the most of what you have.”

The ancient technique that can improve your attention span. [Big Think] — “Attention is a scarce economic resource; you only have so much to give in your lifetime. When you focus on a person, tweet, daydream, or TV show, you are spending a moment of attention. You can never get it back, and you can’t provide it elsewhere. The same is true for any $10 bill that’s left your wallet. But like that ten-spot, attention is also a means of exchange. In exchange for yours, you may receive love, knowledge, entertainment, self-understanding, and much more.”

Give yourself the first hour. [Money and Meaning] — “Here’s my prescription to the attentional dis-ease we all suffer from in capitalism: Spend time outside the demands of everyone and everything else. Have one hour in the morning that is solely yours. Before you read the news, look at your phone, or read your email, just be no one/yourself. Before anyone else gets your attention, luxuriate in an hour of time before anyone else knows you exist. Delight in your own enoughness.”

Today’s video is a four-minute exploration of the perfect amount of clothes.

Warning: The host’s answer here is his answer for himself. (He says that, for him, the perfect amount of clothes is whatever will fit in one box.) It’s the larger discussion here that matters more than his specific answer. And, as with the three articles I shared before the video, the key point is that you find the perfect amount of clothes for you by — you guessed it — paying attention.

Okay, that’s it for Tuesday. Our friends from Plutus will be sharing links tomorrow. I’ll be back on Thursday to highlight more great stuff.

Happy Monday, my friends. Welcome to August, and welcome to another week of Apex Money. We’ve got some great stories for you this week.

To kick things off, here’s an interesting conversation from the /r/financialindependence forum on Reddit that touches on a topic that I think deserves more attention:

Financial independence and early retirement when coming from a collectivist culture. [/r/financialindependence] — “Often where people come from shapes their views on money. My family were immigrants to my country. From my reading and personal experiences, often in more collectivist culture, there is often a greater emphasis on sharing your wealth with family regardless of their contribution to the getting of that wealth. FIRE is a very individualistic pursuit, how do you navigate it?” This is actually one of the deep, ongoing philosophical discussions in the FIRE community: How do you balance what is, essentially, a selfish pursuit with a broader view of your community (and the world).

Buying into the market right before a bear. [The Simple Path to Wealth] — “What has happened these last six months is a perfectly normal part of the process. It has been mild as these things go, barely tipping into the -20% bear territory a couple of times. Much more gentle than the crash of 2008-9. It has happened before and it will happen again. And again. This is the nature of the beast.”

What causes a recession? [The Washington Post] — “A recession is caused when a chain of events, like a line of dominoes, picks up momentum and does not stop until the economy shrinks. Each event is connected to something that happened before and something that will happen in the future. If the price of a hamburger goes up, you might stop buying hamburgers. This would impact a restaurant, and that would impact a server. There are many interconnected chains like this throughout the economy.
The dominoes leading toward a new recession have started falling, but when will they stop?”

Our final piece for today is the traditional non-financial video. And this one is special. It’s a two-minute time-lapse of an acorn’s first six months of becoming an oak tree. I think it’s beautiful.

True story: I’ve been reading a great book called The Revolutionary Genius of Plants. It’s no secret that one of my personal interestes is animal intelligence. I believe that animals are far smarter (and leader deeper, richer emotional lives) than most people credit. Reading and learning about animal intelligence has naturally led me to the related field of plant intelligence, which is fascinating stuff. Plants don’t seem intelligent in a traditional, human sense, obviously, but that’s because they are completely different creatures. They’re like aliens from another world. Aliens that live and communicate in an entirely different way.

That’s it for Monday. I’ll see you tomorrow with more great stuff.

I (Jim) like to collect articles that I find interesting so that I can share it with you. Sometimes they are about money, or at least money adjacent, and sometimes they’re not.

Sometimes I like them because they’re interesting or funny. Sometimes I find them useful.

Every so often, I have a collection of articles that I enjoy but don’t fit any kind of theme. So I use a random Friday to dump a bunch of them on you to enjoy. Or skip.

Think of it as our version of the Big Block of Cheese Day. 🙂

Netflix’s Purge Problem [M.G. Siegler on 500ish] – “In the olden days of TV, you knew your show was coming back each year. We can’t and don’t know that these days. Sometimes it’s two years. Sometimes it’s three years. Sometimes it’s never. How about never? Is never good for you?” It hurts when you fall in love with a show and it just gets cancelled.

Listerine Royalties: The Origin Story and Valuation of a Uniquely Enduring Asset [Invariant] – “It guarantees that irrespective of other conditions, as long as Listerine is sold, the royalties will be paid. Full stop. You might have also noticed the word “defendants’”—plural possessive. If you check the court documents, you will see a number of defendants, i.e., royalty holders.” I remember seeing someone trying to sell a sliver of these royalties on Royalty Exchange – fun to hear the whole story.

Speaking of things that taste really strong … I don’t like White Claw. Seems like many Americans agree!

Hard Seltzer Has Gone Flat [The Atlantic] – “Hard seltzer might be flatlining for obvious reasons. Crowds have returned to bars and restaurants, where the drink isn’t very popular. Inflation might have tightened seltzer budgets. Maybe the market grew so quickly that it has already reached something of a natural ceiling. But also, here’s the thing: Hard seltzer just isn’t very good.” I enjoy seeing how fads start and stop, boozy seltzer will probably never go to zero but it had a quick rise and fall.

David E. Weekly sued a text spammer and won $1,200! Read the details.

(and a good reminder to get on the National Do Not Call Registry!)