I have a philosophy about life, and it goes like this: “I am Paul Truesdell, and I am a lifestyle business where business is my lifestyle.”
Does this sound like you? Does this sound like something you did in life and you are now retired? Or does this sound like something you would like to do but you do not know where to begin? Regardless of who you are, where you are, or what you want to be, you are already a lifestyle as is everyone other individuals on planet earth.
Your lifestyle is your big bet in life. I have a well developed and comprehensive philosophy about BBOBI, and it’s a winner.
If this is the first time, you’ve read a blog posting here on TrueStar Advisors, welcome. You’ll find that we do not hold back. You will know the who, what, where, when, why, and how about us by just stopping by and reading the blog and listening to Connecting Dots. With that said, let’s continue.
BBOBI is an acronym for Big Bets On Big Ideas. What does BBOBI mean in short summary? Well, it’s easy, in fact, it’s too easy, and that’s likely why most people are not successful when it comes to physical, emotional, intellectual, relationship, and financial wealth. To accomplish something significant, you have to make a big bet. Betting is not gambling just like buying a mutual fund, ETF, or variable annuity is not investing. Nope, buying bundled financial products without knowing the details is more like gambling than Investing, and passive index investing is more like rafting down a river in an inner tube than commanding a yacht. But if that makes one feel like the captain of their universe then splash away.
There is only so much time in life. Some have a lot of it, some will get shortchanged. Regardless of the amount of time, life is hard. And it should be hard. When you view and accept that life is hard, and you play it hard, it’s actually pretty easy compared to trying always to make everything as easy as possible. Weird? You bet, and it’s a stoic way to view and approach life.
Those who understand BBOBI resist temptations to jump from one thing to another. A fart in a frying pan never accomplishes much other than stink up the kitchen. If you want to keep the stench away, avoid the temptation for instant gratification. This includes those who are addicted to a“show me, play with me, entertain me, what have you done for me today” mentality that is toxic when near and fatal when close. Here’s the fact of the matter: “Bigger and better rewards are generally available to those who took big and calculated bets on their future.”
That fleeting pleasure is coming at the expense of your future. That Starbucks coffee for $5.00 every day of the week, several times a day at times, will cost a 20-something, a million dollars by the time age 65 to 70 rolls around. In need of hydration? Don’t buy bottled water, carry a water bottle around that you can clean and reuse many times. You want coffee? Learn to make a pot of coffee, put what you want now in a cup and enjoy it, then take the rest and put it in a thermos as everyone did a few decades ago. Just because it’s an old-school thing, doesn’t make it wrong, dumb, or out of step. Look, we’ve been wearing pants for a long time, should everyone stop and start wearing skirts? I think not.
So it’s the weak-willed among us that cause the overwhelming majority of the problems in life. Faced with a challenge, the weak-willed immediately opt out and checks out. A molehill pops up, and the insignificant becomes a mountain of insurmountable measure. Really? Just stop it. Nike says: Just Do It. Well, that’s good enough for me. Just do it, and that means one must stop living and seeking a sheltered life.
Life isn’t that difficult when one follows the rules; however, in a quest for easy one often makes things far harder than it needs to be. Take for example the many kitchen appliances that have been sold during the Christmas season. The gadgets to cook, clean, bake and broil snake, raccoon, and horse feathers.
Keep it simple. Unexpected events are no big deal when you think about them ahead of time. Planning begins with pen and paper, and writing a checklist that will never be complete, always subject to change, but worked and reworked until whatever it is, is accomplished,.
Thinking of one’s life as a business, a hard and challenging business makes one able to handle all that life has to offer with less stress and greater efficiency. Don’t gamble. Don’t float to death. Take a BBOBI and go for it; today, tomorrow, and the many days ahead.
Think about it.