The 37th edition of The Wealth Letters was just released featuring Marty Solomon as The Wealthy rabbi.
In this edition, Marty shares a chapter in his unpublished book he wrote for his daughter titled, “She Giggled.”
It’s a beautifully written piece on discovering how we are enough, and that perhaps we lose sight of that after leaving our childhood years.
https://t.co/vMdvo64caY
Re-posting this letter written by Marty Solomon of @the_BEMA for his daughter, titled "She Giggled."
Mr. Solomon will be coming for a weekend event hosted by our church, so no better time to re-visit this beautiful letter!
The 37th edition of The Wealth Letters was just released featuring Marty Solomon as The Wealthy rabbi.
In this edition, Marty shares a chapter in his unpublished book he wrote for his daughter titled, “She Giggled.”
It’s a beautifully written piece on discovering how we are enough, and that perhaps we lose sight of that after leaving our childhood years.
https://t.co/vMdvo64caY
@morganhousel on the highest form of wealth:
The highest form of wealth is the ability to wake up every morning and say, “I can do whatever I want today.”
People want to become wealthier to make them happier. Happiness is a complicated subject because everyone’s different. But if there’s a common denominator in happiness -- a universal fuel of joy -- it’s that people want to control their lives.
The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays.
Bob & Linda Lotich ( @seedtime ) spoke on how money is the perfect idol.
Some thoughts on why…
The roles that money play in our lives:
- Provision
- Security
- Status
- Peace / joy... “I will be happy when…”
- Power / control / manipulation
- Purpose (if the goal of life is more $)
- Identity (my portfolio is who I am)
GOD WANTS TO BE THE SOURCE OF ALL OF THESE THINGS IN OUR LIFE....THIS IS WHY MONEY IS THE PERFECT IDOL (REPLACEMENT TO GOD)
** Do our actions serve money?
We have a natural draw toward money, so we need to be honest with how we manage it (or how it manages us).
William Green ( @WilliamGreen72 ) wrote one of my favorite books, Richer, Wiser, Happier where he explores how some of the greatest investors in the world achieved an abundance of wealth, wisdom, & happiness.
In his podcast, William outlines just a few of these lessons from Billionaires on discovering / achieving happiness:
* Bill Miller has outstanding relationships and autonomy in his investments now that he is retired (living in a way that is totally true to yourself with all of your idiosyncrasies).
* That's "clonable" .. not his wealth, but what makes him happy.
* GIVE of your time, money, and knowledge.
* Money is a marker of success, but that's not enough. There are poor rich people, and rich poor people. Don't clone the wrong thing of the rich.
* Ed Thorpe revealed how to put the odds of life in your favor: “It's about who you spend your time with. The core of happiness is relationships and peace of mind.”
* @RayDalio said not to be ashamed or hide your shortcomings...”Be aware of them, embrace them as what your creator gave you, and surround yourself with others to fill those gaps.”
* The late Charlie Munger said: “If you want to have a good partner (in relationships, business) be a good partner.”
@morganhousel is one of my favorite writers and speakers because of how he connects our human brains/emotions with something that is very emotional forost of us (myself included):
Money
According to Housel:
Wealth is relative ... There is no objective definition of wealth.
Wealth is not how much money you make, but how much money you make relative to other people.
A rookie baseball player is poor in comparison to Mike Trout.
Trout is poor in comparison to top hedge fund managers.
Top hedge fund managers are poor in comparison to Warren Buffet.
Buffet is poor in comparison to Elon Musk, who makes more PER HOUR than Mike Trout does per year.
The most difficult aspect of finance is to stop moving the goalposts.
The Wealthy Immigrant ( @polina_marinova ) wrote a letter to her two children on winning the unwinniable lottery.
A beautiful illustration of what true wealth looks like, and how her kids can find it in their own lives.
Thank you Polina for writing this letter for The Wealth Letters Anthology!
https://t.co/3qqJjlNF3d
A very close friend sent this to me recently as he knows I struggle with staying in the now, and not “missing the first for the trees.”
Perhaps this can help someone who struggles with “enoughness” like myself.
@BrentBeshore asked an older person for the #1 piece of advice he would give his 30-year-old self.
The answer he gave seems so simple (almost too simple).
And yet, how many of us (myself included) actually commit to this?
18 months ago I asked a wise older man for the #1 piece of advice he would give his 30 year old self. He said:
"Read the Bible every day, then journal what you should know, who you should be, and what you should do based on what you read. It will change your life."
I thanked him and then asked him for anything else he might recommend. He said, "Stop. I just told you. Did you not listen? You don't need more advice. If you do what I said, it will change your life."
Humbled, I agreed to start and he graciously shared his daily reflections with me, and has been doing so ever since. 18 months later, I can say he was right.
It has changed my life. I've watched my life gain more peace, and patience, and gentleness. I say that passively because there's a receiving in it. Some days I do it with excitement and other days out of obligation, but regardless I'm always happy I did it. It has reset the trajectory of my days for my good and the good of those around me.
Along the way, I've shared the practice with some close friends and it has changed their lives. And they've shared it with their friends and changed their lives.
So in hopes of helping more, I've decided to start posting my reflections in this thread daily. If you'd like to join me, here's how it works:
1) Get a Bible. I like a physical copy, but use whatever works for you. I prefer ESV, but NIV is also a good choice. There are tons of great apps, or Bible Hub is a good resource (https://t.co/xOSoy5kdzy).
2) Choose a reading plan. I find it easier to be told what to read than to make the choice daily. My favorite is a daily reading plan by Oswald Chambers (https://t.co/4xuC6J8FEE). It serves up a reflection, followed by recommended reading at the bottom. Tip -- sign up for it to be sent to your email every day and choose the modern language version.
3) Read, reflect, and pray. Then journal what you should know, who you should be, and what you should do based on what you read.
4) If you're so inclined, share your reflection as a reply to my daily reflection. I'll try to be vulnerable and would encourage you to do the same, but understandably some are going to be too raw to feel comfortable sharing, and that's ok.
5) If you find it valuable, invite your friends and as Hebrews 10:24 says, "Let us consider how we may spur one another on toward love and good deeds."
And if you have any questions, my DMs are open.
“If / who / when you marry is hands down the biggest driver of one’s happiness.”
- Morgan Housel ( @morganhousel )
I have to agree with Morgan hands down.
Lots on this list that is certainly TRUE WEALTH as Nassim points out.
I would add 'enoughness' to this list (the state of having and being enough).
Credit to @jposhaughnessy for sharing.
TRUE WEALTH (2nd Ed)
Worriless sleeping
Clear conscience
Reciprocal gratitude
Absence of envy
Foamy coffee
Crusty bread
Inexperienced enemies
Frequent laughs
No meals alone
No gym classes
Gravel bicycling
Good digestive functions
No Zoom meetings
Periodic surprises
Nothing to hide: financial and fiscal tranquility
Muscular strength & endurance
Ability to nap
Access to a hammock
I wrote a letter to author, Austin Kleon, asking if he would be willing to provide any insights on what "true wealth" in life means to him.
He was nice enough to write back to me (in true Austin Kleon manner) 😊
I hope you enjoy!
@LettersOfNote@letterslive@ShaunUsher