One of the reasons why I continue to save so much is that I’m a perpetual failure. I’ve made so many mistakes in my life that I need a financial buffer to constantly bail me out. A landmine-filled upbringing has also embedded in me the necessity to save.
If it’s not an investment mistake, it’s a career mistake. If it’s not a career mistake, it’s a lifestyle mistake. Now that I’m in my mid-40s, random health issues are slowly popping up. Gotta save!
Over time, the self-inflicted mistakes have declined in frequency. However, I know they will still keep coming now that I’m a father to two young children. Parenting is tough.
Even after negotiating a severance and leaving Corporate America in 2012, I still save most of my passive income and online income each month.
It feels like eventually, this dreamworld my wife and I have been living in will come crashing down on us. Need to save.
Always Question The Sustainability Of Your Good Luck
Whenever things are going well for an extended period of time, I begin to worry. Where did all the bad luck go? Something must be wrong.
I’m not sure why life has turned out OK for me when there are plenty of smarter, more deserving people out there who still struggle. Maybe the exhausted fumes of good karma from a past life?
The longer you live, the longer you realize nothing good lasts forever. Something bad is bound to happen – a break of an ankle, a bad investment, a friend who disappoints, a boss who lies, a disease that debilitates, a black swan global event, etc.
The pandemic began just months after our daughter was born. Then, preschools shut down. Then, stocks crashed in March 2020. If there’s one thing 2020 taught us, it’s that anything and everything can happen!
Instead of waiting for disappointment, I sometimes like to seek out failure to knock some reality back into my life. Getting rejected is also a great way of keeping the ego under control.
Most of our wealth is mainly due to luck. To start thinking our wealth is mostly due to hard work and skill will likely set you up for disappointment in the future. Don’t be fooled into thinking you’re a wunderkind.