At 40-something, I find that money and health have become increasingly important. However, they both depend heavily on the foundations I laid in my 20s and 30s. So watch out.
I can't think of too much I wish I had known, but there are quite a few things I wish I had fully internalized:
- the math behind financial freedom and how small differences in savings rate, burn rates, and the carrying cost of owning "stuff" can greatly impact one's chances of reaching it;
- the almost unbelievable opportunity and money costs of having children (I thought I knew.... but I was off by orders of magnitude);
- that compounding growth (in any aspect of one's life, not just investing) only matters if you give it time. Start today with a little instead of waiting for the day you have "enough" to start;
- the importance of due diligence. I spent more time and care speccing out my personal computers than I did buying my home. Then compounded my error by hanging on to it long after I should have cut my losses;
- that if you are not working towards a specific destination, you're just floating where the wind and tide take you and hoping you end up somewhere good;
- the importance of caring for your body, listening and acting on its complaints rather than pushing yourself harder;
- that where you end up is mostly (aside from a certain element of sheer chance) the result of the choices YOU make (or allow others to make on your behalf) in life;
- to seek out relationships with the kind of people you wish you were. You grow to be more like the people you have around you;
- to learn from the past, and then let go of it. You need to focus on the future. It's especially important to let go of cynicism and bitterness as they poison your future and hurt everyone else around you;
- to take the long view when weighing your options and making your plans;
- that willpower is severely limited. I wish I had done more to make the right choices the easiest/default ones. Examples include automated savings, only keeping healthy foods in the house, building exercise habits into my daily routine, etc.;
>- to learn from the past, and then let go of it. You need to focus on the future. It's especially important to let go of cynicism and bitterness as they poison your future and hurt everyone else around you.
This. Past is past, it cannot be changed, put your efforts where it matters. I would also add that revenge is overrated, do not waste time on it.
> - the importance of caring for your body, listening and acting on its complaints rather than pushing yourself harder;
Yes! I found it way too easy to push way too
hard and, thus, do some serious damage.
One case took surgery and, then, years to
recover -- I'm back to normal now.
I can't think of too much I wish I had known, but there are quite a few things I wish I had fully internalized:
- the math behind financial freedom and how small differences in savings rate, burn rates, and the carrying cost of owning "stuff" can greatly impact one's chances of reaching it;
- the almost unbelievable opportunity and money costs of having children (I thought I knew.... but I was off by orders of magnitude);
- that compounding growth (in any aspect of one's life, not just investing) only matters if you give it time. Start today with a little instead of waiting for the day you have "enough" to start;
- the importance of due diligence. I spent more time and care speccing out my personal computers than I did buying my home. Then compounded my error by hanging on to it long after I should have cut my losses;
- that if you are not working towards a specific destination, you're just floating where the wind and tide take you and hoping you end up somewhere good;
- the importance of caring for your body, listening and acting on its complaints rather than pushing yourself harder;
- that where you end up is mostly (aside from a certain element of sheer chance) the result of the choices YOU make (or allow others to make on your behalf) in life;
- to seek out relationships with the kind of people you wish you were. You grow to be more like the people you have around you;
- to learn from the past, and then let go of it. You need to focus on the future. It's especially important to let go of cynicism and bitterness as they poison your future and hurt everyone else around you;
- to take the long view when weighing your options and making your plans;
- that willpower is severely limited. I wish I had done more to make the right choices the easiest/default ones. Examples include automated savings, only keeping healthy foods in the house, building exercise habits into my daily routine, etc.;