Jim here – our first post today really resonated with me because I definitely bought into the narrative of American culture, hustle, and work.
Now that I’m older, I realize that that level of “optimization” of our careers is unnecessary. In fact, it may even be bad. As our kids get older, I’ve given a lot of thought to the idea that maybe our kids would benefit from a gap year between high school and college (and to seriously consider if college even makes sense!).
When I hear about student loan forgiveness, the eye watering aspect of it that always shocks me is just how much debt some kids are carrying. I was lucky to escape college with ~$35,000 of debt and the great fortune to start a personal finance blog that earned good money on top of my salary.
Maybe rushing into the next thing is a bad thing. Maybe taking a breath isn’t so bad.
The Roads Not Taken [Jillian Johnsrud] – “Our lives are full of roads not taken. Paths diverged, and we made a choice. One choice pulled us farther away from the other choice. Maybe you have regrets. But most likely, you don’t. The choices we made brought us to where we are now. The mistake is thinking that once the paths diverged, they will never loop around again. There were lots of good reasons you didn’t choose that other path at the time. But what if you had another chance? Would you still be interested? Is there still a spark of curiosity or excitement?” Good food for thought and I love that rule of thumb she uses.
You Bet! [Memo by Howard Marks to Oaktree Clients] – “… you make the best decision you can based on what you know, but the success of your decision will be heavily influenced by a) relevant information you may lack and (b) luck or randomness.” This 15-page memo is long but reads quickly and gives you a good way to think about investing (and a games).
Inside the Organized Crime Ring That Stole Nearly $1 Million Worth of Bikes From Denver Retailers [5298] – “Like most 3 a.m. phone calls, the one that woke Lisa Kaveggia on September 8, 2019, delivered unwelcome news: Mojo Wheels, the Denver bike shop she’d owned for 31 years, had just been burglarized. Kaveggia roused herself and, still in her pajamas, rushed to the store. When she arrived, she found a gaping hole where Mojo’s front entrance used to be. The door lay inside the showroom—knocked off its hinges and out of its frame—and a section of wall was visibly pushed in.”