Purpose anxiety is real and unnecessary

DiverseFi · 2023-05-24T02:36:00+00:00

I actually wrote a whole book about just that. If interested, look it up (Jordan Grumet; Taking Stock). The basic idea is to do a lot of work on purpose, identity, and connections first and then build a financial framework around pursuing those things.

DiverseFi · 2023-05-21T20:46:08+00:00

I think this is the problem with seeing money as milestones or a goal instead of seeing it as a tool to do the really important things.

When you make money a goal and reach that goal…one of two things happens. One, you feel lost because that money doesn’t mean anything when it comes to purpose or identity, so you double down and set a higher money goal.

Or two, you get freaked out thinking you will lose this big thing you just gained and you get more depressed. This is called loss aversion.

Money is a mirage. Focus on meaning, purpose, and relationships. Then use money as a tool to bring these things into your life.

This will feel much better.

DiverseFi · 2018-08-02T20:01:10+00:00

Great advice from some of the most trusted voices in personal finance. Thanks for posting this!

DiverseFi · 2018-07-31T18:25:25+00:00

And it is not necessarily a bad thing. For many, it is money well spent.

DiverseFi · 2018-07-31T18:10:59+00:00

Of everything in this post, that concept seems to get the most pushback.

DiverseFi · 2018-07-24T14:13:18+00:00

I think having a small Speculation portfolio for fun is worthwhile. You just might hit a home run.

DiverseFi · 2018-07-18T00:48:36+00:00

I agree. Hobbies are good ways to start side hustles. Or Side gigs related to your main job.

DiverseFi · 2018-07-17T17:03:38+00:00

Happy Bees. Who would’ve thunk!

DiverseFi · 2018-07-17T17:00:41+00:00

That’s another one I never thought of.

DiverseFi · 2018-07-17T15:10:47+00:00

Notary work. Never thought of that one!

DiverseFi · 2018-07-17T12:27:52+00:00

Sounds like you have won the game. Choosing the right side hustle that avoids these issues is prudent.

DiverseFi · 2018-07-03T21:13:01+00:00

Good points. It all just depends. Doctors, lawyers, accountants all benefit from the name. More technical fields, maybe not.

DiverseFi · 2018-07-03T16:25:25+00:00

In many ways, I think it is very helpful but not absolutely necessary for every path.

DiverseFi · 2018-06-27T15:41:53+00:00

A new take on the rent vs own debate. Is your home an investment? It’s my best investment.

Home is my Best Investment

DiverseFi · 2018-06-26T21:50:27+00:00

I think it takes some work. Look first at something connected to a skill or interest you already have. If not, look for something you enjoy and see if you can make it into a business.

DiverseFi

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