59 | Seek Wealth, Not Money Or Status

Hey Friends,

This week, I released a video -> Is This Really Madrid ?! I'd love to hear your thoughts! 👂 👀

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 couldn’t. 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 won’t lie. I’d 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 can’t 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 “One day…” and not now? So I came to the conclusion that now you can start building the foundations, use your unfair advantages to “one day” make your dream come true. This is not procrastinating. I’d 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 I’ll 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.

It’s OK to say “One Day…” as long as we’re doing something to get closer to that dream. Otherwise it’s 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: “Wealth is the thing you want. Wealth is assets that earn while you sleep; it’s the factory of robots cranking out things. Wealth is the computer program running at night that’s 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.”

So the question is… what are we really seeking?

Have a great week!

Alejandro

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🎯 This Week’s Quote

“Be a generalist in a world of specialist.”

Range: Why Generalists Triumph in a Specialized World by David Epstein

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🐦 This Week’s Tweet

Naval @naval

All the signs of a bubble are there, but it’s hard to imagine an alternative.

Are we friends on Twitter? If not, please follow me here. ❤️

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🎙️ This Week’s Podcast

The Art Of Confidently Connecting On Camera

By Think Media

You can listen to the full episode here.

Sean Cannell is the CEO of Think Media and host of the Think Media Podcast. He is one of today’s leading online video experts and the world’s most watched YouTube strategist. He has been featured on Forbes, CNBC, Social Media Examiner, Entrepreneur and Success.

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✍️ This Week's Blog Post

I’ve seen this weekend in Madrid 1,000 sheep taking over the city, an Egyptian temple and more unbelievable and insane things. This is why I love Madrid and Spain!

Read more: Streets of Madrid Taken Over!!!

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🎥 This Week's Video

Have you read the news? Something crazy just happened in Madrid. Here's the video.

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