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Weekly Wisdom Newsletter #29

Updated: Nov 9, 2020

Published Date: Sunday, May 12, 2019

Hi All!

Here are this week's chosen learning points:

  1. Career Focus: According to Jim Collins, in our career, we should find our "hedgehog area", which is the intersection of three things: 1. What you're passionate about, 2. What you're naturally talented at, 3. A money-making model. I thought it was a more straightforward version of the Ikigai model. (Source)

  2. Money and Happiness: Those who are happy with their money habits save 20% of their net income. They also spend 10-25% of their net income on personal growth. (Source)

  3. Saving Money: "Do not save what is left after spending. Spend what is left after saving." -Warren Buffet

Here are this week's recommended actions:

  1. Reflect on your hedgehog area and whether your current career trajectory leverages it. If not, reflect on possible career trajectories that do.

  2. Set up a system to automatically save 20% (or whatever you can; the habit is most important) of your net income, such as an automatic monthly transfer from your checking account to your savings account.

If you think someone else would find this newsletter useful, please forward it to them. Thanks, and have a wonderful week ahead!

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