I used to drink tons of Diet Coke but it’s been one month since I’ve had a drop.
I want to share some of the changes I’ve observed in myself over that time:
- My health is unchanged
- I’m less happy
- My one source of joy is gone
Thanks for encouraging me on this journey!
A one page summary of some of the most important money lessons. Get these right and you'll be OK.
(content via The Laws of Wealth/created by David Clarke)
One coronavirus lesson that I hope we can internalize: most business travel is unnecessary.
It’s expensive, it’s bad for families and the environment.
90% of trips and conferences could go away without anyone being worse off.
Biggest regrets of retirees in Harvard Adult Development Study:
I wish I hadn’t worked so hard.
I wish I’d cared less about what others thought of me and followed my own path.
In honor of Anthony Bourdain, today I will:
- meet a new friend
- try something I've never tasted before
- not suffer fools
- tell a difficult truth
- reach out to someone who may be in pain
RIP to a man who taught us not to fear "Parts Unknown", a message we need more than ever
@RyanPKirlin
I totally get it. I guess my biggest beef is the deceptive "signage." You think you're getting a room for $300 and it's...$700? Just advertise the total cost more transparently.
My sister in law has ~48 hours to live and a friend of the family just offered to buy my wife a ticket back to the States from Canada so that she could be with her in her final hours. We didn't ask, they just saw a need and met it.
I love people.
In 1968 Pan Am was the largest and most profitable airline in the world, had the country’s largest commercial office building, and was the second most recognized brand in the world behind Coke.
That’s why you diversify.
CFA vs MBA? Neither.
Get a PhD. Why?
It’s longer.
It’s more expensive.
You’ll learn a bunch of stuff that won’t replicate.
Your Mom won’t think you’re a real doctor.
Thank me later.
Big news in my world: I've accepted a role as Chief Behavioral Officer at
@BrinkerCapital
. We will be working to bring behavioral tools, training, and technology to financial advisors that will allow for the practical application of behavioral science.
Me, pre-Covid: “Actually, research shows that money spent on a big house provides little happiness...”
Me, now: “GIVE ME THE BIGGEST HOUSE YOU HAVE. YES, 14 BEDROOMS SEEMS ABOUT RIGHT.”
I’d like to publicly apologize to my HOA for the black of my mailbox “not being sufficiently glossy.”
There has been absolutely nothing else going on and this is a huge oversight on my part.
Neighbor: “Loved your book. If I buy some will you sign them so I can hand them out to friends.”
Me: “Of course.”
***3 days later the doorbell rings***
Recent study says 65% of Americans would take a pay cut to work remotely.
Y'all stink at negotiating.
How about a pay raise since we're covering real estate, utilities, office furniture, and supplies.
Ah yes, nothing like some good ole Newark or Seattle BBQ.
Love it just like I love seafood from Omaha, pizza from Alabama, Italian food from Utah, and tacos from North Dakota.
The top two things that landed people on the Forbes 400:
1. Concentration
2. Leverage
The top two reasons people eventually fell off the Forbes 400:
1. Concentration
2. Leverage
via "The Aspirational Investor"
When I had my nutrition practice, I would allow up to 3 cans Diet Coke per day, for no scientific reason. Most clients didn’t drink that amount. I love my Diet Coke. Enjoy your life.
#Dietitian
#ItsGreatToBe74
Over the last few weeks I've been sharing a series of behavioral tips that can be applied to everything from wealth management to marketing and everything in between.
I've compiled them all below in a thread:
I used to drink tons of Diet Coke but it’s been one month since I’ve had a drop.
I want to share some of the changes I’ve observed in myself over that time:
- My health is unchanged
- I’m less happy
- My one source of joy is gone
Thanks for encouraging me on this journey!
.
@choffstein
asked me what I think is the biggest misunderstanding about behavioral finance. It is:
“An awareness of bad behavioral tendencies will be sufficient to overcome them.”
Good nutrition labels began in 1990 and since then:
My sister-in-law, who passed away two years ago, would have been 34 today.
Life can seem so strange and fractured right now but it's a reminder to me that as long as we are here there is good to be done.
You're alive. Make some noise today.
Sometimes when I’m feeling down I think about the conference organizer who told me...
“Your fee exceeds our desire to hear you speak”
...and I immediately feel better.
Glad to see
@CocaCola
embracing me as the perfect brand ambassador.
Consider:
- My initials are DC
- Live in Atlanta
- Red is my favorite color
- Viral tweet
- Endorsement from world’s richest person
It’s my time, adorable polar bears.
I used to drink tons of Diet Coke but it’s been one month since I’ve had a drop.
I want to share some of the changes I’ve observed in myself over that time:
- My health is unchanged
- I’m less happy
- My one source of joy is gone
Thanks for encouraging me on this journey!
Ok, friends.
@Vetta_Fi
is giving a skate deck to the person with the most likes and I need to win this for my skater son to be a hero.
Like this to help me make a little dude really happy 🤘
#FutureProofAC
Stanford research shows that 8 out of 10 people don't have a single, identifiable passion that organizes their lives.
"Follow your passion" isn't life advice that works for most of us.
After 2 weeks of multiple health screens and asking everyone to quarantine, I surprised my closest inner circle with a trip to a private island where we could pretend things were normal just for a brief moment in time.
My daughter goes to college in five years and we want to visit at least one international destination every year between now and then.
If you could visit just five places in five years, which would you choose?
It’s impossible to overstate the power of what Jack Bogle did for everyday people.
He’s the proof that finance can be a powerful force for good in the world.
People on my LinkedIn mentions saying, “why should we pay city wages to someone who lives in flyover country?”
Your comp should be function of the value you provide your employer, not how much a sandwich costs in your neighborhood.
Recent study says 65% of Americans would take a pay cut to work remotely.
Y'all stink at negotiating.
How about a pay raise since we're covering real estate, utilities, office furniture, and supplies.
? for finding meaningful work:
· What are my natural gifts?
· What makes me lose track of time?
· How have I best served others?
· What is my favorite type of pain?
· What would my 8 year old self think?
We didn’t send out Christmas cards this year because of *gestures at everything* but the Crosby fam wishes you and yours an incredible holiday season.
Thanks to all who have offered support, advice, and friendship in this crazy year.
You all know that
@brianportnoy
is a great friend of mine and someone whose thinking I admire a ton. Well…
Our books were just named co-winners of the best investment book of the year from the Axiom Business Book Awards.
This makes me so happy.
Tips for better sleep:
No caffeine after lunch and limit alcohol intake
Sleep/wake at consistent times
Lots of natural light in the day and no blue light at night
Exercise regularly
Put phone in a different room
Consider a melatonin supplement
Read right before going to bed
21 Financial Resolutions for 2021 (and 20 Things We are Leaving in 2020):
21 resolutions for 2021
Spend less than you make, period
Work with an advisor to get a formal financial plan
Own the world: diversify within and between asset classes
"A recent study from Morningstar listed 15 attributes of financial advisors asking investors and advisors to rank them from most important to least important. Investors ranked behavioral coaching dead last while ranking “maximizing returns” in the top five."
Normally I'm a "no Christmas until after Thanksgiving" guy but this year is different.
I'm going to sing carols for two months.
I'm putting up a tree tomorrow.
I want my house to smell like a cinnamon stick 24/7.
This year has been crazy - inject Christmas into my veins.
The easiest way to change yourself in the new year is to change the situations you put yourself in, the people you surround yourself with and the ideas you put in your head.
Every financial advisor needs:
- their own advisor
- a therapist
Working in finance involves stress, uncertainty, and most of all, being a barrier between your clients and their worst impulses.
It takes a heavy dose of both self-understanding and self-care.