59 | Seek Wealth, Not Money Or Status
59 | Seek Wealth, Not Money Or Status
Hey Friends,
This week, I released aĀ video ->Ā Is This Really Madrid ?! I'd love to hear your thoughts! š š
Few days ago I was speaking with some Spaniards and one of the topics was around overthinking. These guys had the idea of one day resigning, backpacking and travelling the world. When I asked them why not now if it was so important, they said they couldnāt. They started to give me a bunch of reasons. In a nutshell: fear.
This was in my mind for couple of days. I was trying to figure out why we keep procrastinating things. I get it. We all have different life situations: kids, jobs, money, covid, visas, etc. Everything understandable.
In my case, I feel I travel very often although I wonāt lie. Iād love to travel even more and go to remote places and stay for weeks/months to learn more languages and understand more cultures. But I canāt simply fade away from the world for so long just because I have a full time job. I enjoy it. At the same time, I also enjoy travelling and documenting the journey. So I try to use the flexibility I have in my current situation to travel as much as I possibly can.
However, I was still thinking about this. Why I keep saying āOne dayā¦ā and not now? So I came to the conclusion that now you can start building the foundations, use your unfair advantages to āone dayā make your dream come true. This is not procrastinating. Iād like to think of it as Risk-adjusted return (sorry for the boring financial analogy). This measures an investment's return after taking into account the degree of risk that was taken to achieve it. In simple words, we define how much pain/hard work we want to take and accept the outcome in the horizon we set. For example: if I want to get a 6-pack abs I know I can eat super healthy and work out many hours per day and in some months Iāll achieve my goal. Or I can go slower and set few years as my horizon to achieve it. This is the same for anything in life.
Itās OK to say āOne Dayā¦ā as long as weāre doing something to get closer to that dream. Otherwise itās just a wish and we become sayers and not doers.
The reality is if we want something now and want to calculate the risk, ideally we need to seek wealth, not money or status. Naval explained the difference perfectly: āWealth is the thing you want. Wealth is assets that earn while you sleep; itās the factory of robots cranking out things. Wealth is the computer program running at night thatās serving other customers. Wealth is money in the bank that is reinvested into other assets and businesses. Wealth buys your freedom, Money is how we transfer wealth and Status is your rank in the social hierarchy.ā
So the question isā¦ what are we really seeking?
Have a great week!
Alejandro
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