Your Money or Your Life, Chapters 5 & 6

Russ H · Jul 18th, 2008, 01:36 AM

Some books, like a great movie, take the reader through an arc: Things start out slow, and then they get uncomfortable. This makes the resolution at the conclusion all the more intense, and gratifying.

Doing a chapter by chapter redux of YMOYL was, to put it mildly, painful.

Perhaps a different approach on the next book might yield better results . . .

-Russ H.

Russ H · Jul 18th, 2008, 01:40 AM

I posted this to one of the other chapter threads.

Here are some items from a different thread:

Secret # 1: Happiness comes from within.
Secret # 2: Find happiness in simple pleasures.
Secret # 3: Live a simple life.
Secret # 4: Think Simply.
Secret # 5: Invest Simply.
Secret # 6: Have a mentor in life.
Secret # 7: Making money isn’t the backbone of our guiding purpose; making money is the by-product of our guiding purpose.

Q: How many of these go along with what was just outlined in YMOYL?

-Russ H.

yveskleinsky · Jul 19th, 2008, 01:43 AM

Originally Posted by Russ H

Put me in the mountains (or by the sea) in a sleeping bag under the stars and I'm a happy camper.

For my wife, "roughing it" means staying at a place w/no room service (I exaggerate!

)

I'd like to introduce our little one to the wonders of the great outdoors, so I've suggested that, when she's old enough, I'll take KT camping, and mom can have a spa weekend.

Seems like a win-win to me-- I get some one on one w/my cute as a button daughter, and mom gets a much needed break.

Only thing is . . . it's gonna be at least another coupla years before she's old enough . . .

In the mean time, we'll be staying at Residence Inns (I love to cook, so I'm the substitute for room service!).

-Russ H.

Lol- don't get me wrong. I love to go camping- in warm weather. What I wasn't prepared for was getting stuck in front of a cabin with no water and no heat no phone and it was probably about -20 with the windchill. The vulnerability of it all was really scary for me- my two other friends got to work chopping wood and saved the day! Thank God for them, because I honestly would not have known what to do!

yveskleinsky · Jul 19th, 2008, 02:30 AM

Ok- back on track. Here are some nuggets that I gleamed from this book. These notes are taken from my journal, so they may be a little stream of consciousness-ey. J

- "Financial Intelligence is essential for anyone who wants a clear, relaxed relationship with money. Until you can think independently, you cannot be independent." (Most of us who subscribe to the Fastlane principals already understand the importance of this. If we are going to play to win (v. play to not lose) we must learn to judge financial advice as it pertains to our plan. (Like that Russ? )

- Most of us considering going to work as "making a living" when really it's making a dying. …Great saying. This beautifully deconstructs the true exchange of life energy when it’s spent running in that proverbial hamster wheel.

A question that I wrestled with while reading this book is how do I balance contentment/enough with my burning drive to live an exceptional life on my terms?

The authors address this by saying that, "If you live for having it all, what you have is never enough. In an environment of more is better, "enough" is like the horizon, always receding." I had to stop and ask myself, “Well then, where is my line of “enough” and what is my definition of “having it all”?” …I am still pondering these questions. I know what motivated me and what doesn’t. I know that I am driven by challenges- which seems to be incompatible with contentment. …I don’t quite know where that leaves me.

“We don’t live life, we consume it. …What is it in us that was so easily distracted from life’s deeper pleasures?” Yes what is it? What is the void that seems so prevalent in our society that so many of us yearn to fill?

“Money has become the last taboo. It’s easier for us to tell our therapist about our sex life than it is to tell our accountant about our finances.” I suppose this is because money is a true reflection of our morals and values. It’s the one true black and white measure of what we value v. what we just say we give value to. When we examine our finances head on, we cannot deny what they tell us about ourselves. We can say that we value x,y and z, but if we are spending money on a,b and c then there is a disconnect. A large disconnect between who we want to be and who we are. Our checkbook register is often an emotional register. You can flip thru last month’s spending and ask the question “why?” for each purchase, and come up with some really interesting answers. I suppose this is what the author is getting at: spend money on what we need, not to fill a need.

I have several more. I’m just getting too tired to write more tonight; I will post more tomorrow. J

Banthaman · Jul 19th, 2008, 09:59 AM

We really had to take a step back after reading this as the enough curve didn't seem to be a "reach for the moon" mentality. Going through some of the clutter that we currently have and getting rid of it (friends, family, charity, and yes.. even a rummage sale) we realize that we really don't miss it. We did not get rid of all frills, just the things that ate space; weighed us down. Do we have more simple dreams now .. in a sense yes, but I would say more refined, streamlined, more precise. It is a needed tool in developing our plan.

Jul 18th, 2008, 01:36 AM	#41 (permalink)
Russ H Level: Moderator Joined: Jul 2007 Locale: Napa Valley, CA Age: 47 Posts: 2,329 Thanks: 142 Thanked 188 Times in 117 Posts	Re: Your Money or Your Life, Chapters 5 & 6 Some books, like a great movie, take the reader through an arc: Things start out slow, and then they get uncomfortable. This makes the resolution at the conclusion all the more intense, and gratifying. Doing a chapter by chapter redux of YMOYL was, to put it mildly, painful. Perhaps a different approach on the next book might yield better results . . . -Russ H. __________________ "Control everything. Own nothing." -John D. Rockefeller "Don't confuse motion with action" -Ernest Hemingway

Jul 18th, 2008, 01:40 AM	#42 (permalink)
Russ H Level: Moderator Joined: Jul 2007 Locale: Napa Valley, CA Age: 47 Posts: 2,329 Thanks: 142 Thanked 188 Times in 117 Posts	Re: Your Money or Your Life, Chapters 5 & 6 I posted this to one of the other chapter threads. Here are some items from a different thread: Secret # 1: Happiness comes from within. Secret # 2: Find happiness in simple pleasures. Secret # 3: Live a simple life. Secret # 4: Think Simply. Secret # 5: Invest Simply. Secret # 6: Have a mentor in life. Secret # 7: Making money isn’t the backbone of our guiding purpose; making money is the by-product of our guiding purpose. Q: How many of these go along with what was just outlined in YMOYL? -Russ H. __________________ "Control everything. Own nothing." -John D. Rockefeller "Don't confuse motion with action" -Ernest Hemingway

Jul 19th, 2008, 02:30 AM	#44 (permalink)
yveskleinsky Level: (3) Lamborghini Joined: Jul 2007 Locale: New Mexico Age: 31 Posts: 1,322 Thanks: 82 Thanked 82 Times in 60 Posts	Re: Your Money or Your Life, Chapters 5 & 6 Ok- back on track. Here are some nuggets that I gleamed from this book. These notes are taken from my journal, so they may be a little stream of consciousness-ey. J - "Financial Intelligence is essential for anyone who wants a clear, relaxed relationship with money. Until you can think independently, you cannot be independent." (Most of us who subscribe to the Fastlane principals already understand the importance of this. If we are going to play to win (v. play to not lose) we must learn to judge financial advice as it pertains to our plan. (Like that Russ? ) - Most of us considering going to work as "making a living" when really it's making a dying. *…Great saying. This beautifully deconstructs the true exchange of life energy when it’s spent running in that proverbial hamster wheel.* *A question that I wrestled with while reading this book is how do I balance contentment/enough with my burning drive to live an exceptional life on my terms?* *The authors address this by saying that,* "If you live for having it all, what you have is never enough. In an environment of more is better, "enough" is like the horizon, always receding." I had to stop and ask myself, “Well then, where is my line of “enough” and what is my definition of “having it all”?” …I am still pondering these questions. I know what motivated me and what doesn’t. I know that I am driven by challenges- which seems to be incompatible with contentment. …I don’t quite know where that leaves me. “We don’t live life, we consume it. …What is it in us that was so easily distracted from life’s deeper pleasures?” *Yes what is it? What is the void that seems so prevalent in our society that so many of us yearn to fill?* “Money has become the last taboo. It’s easier for us to tell our therapist about our sex life than it is to tell our accountant about our finances.” I suppose this is because money is a true reflection of our morals and values. It’s the one true black and white measure of what we value v. what we just say we give value to. When we examine our finances head on, we cannot deny what they tell us about ourselves. We can say that we value x,y and z, but if we are spending money on a,b and c then there is a disconnect. A large disconnect between who we want to be and who we are. Our checkbook register is often an emotional register. You can flip thru last month’s spending and ask the question “why?” for each purchase, and come up with some really interesting answers. I suppose this is what the author is getting at: spend money on what we need, not to fill a need. I have several more. I’m just getting too tired to write more tonight; I will post more tomorrow. J __________________ www.ReservationsRightNow.com/forum

Jul 19th, 2008, 09:59 AM	#45 (permalink)
Banthaman Level: (9) Cadillac Joined: Apr 2008 Age: 28 Posts: 171 Thanks: 10 Thanked 13 Times in 10 Posts	Re: Your Money or Your Life, Chapters 5 & 6 We really had to take a step back after reading this as the enough curve didn't seem to be a "reach for the moon" mentality. Going through some of the clutter that we currently have and getting rid of it (friends, family, charity, and yes.. even a rummage sale) we realize that we really don't miss it. We did not get rid of all frills, just the things that ate space; weighed us down. Do we have more simple dreams now .. in a sense yes, but I would say more refined, streamlined, more precise. It is a needed tool in developing our plan. __________________ "If I have seen further than others, it is by standing upon the shoulders of giants." - Sir Isaac Newton

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

	Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Your Money or Your Life, Chapters 3 & 4.	PhxMJ	Your Money or Your Life, by Joe Dominguez and Vicki Robin	39	Jul 11th, 2008 12:35 PM
Small town life may mean big money	Fastlane-News	Economy & Finance News	3	Jul 1st, 2008 05:41 PM
Your Money or Your Life - Ch 1&2 Discussion	Bilgefisher	Your Money or Your Life, by Joe Dominguez and Vicki Robin	31	Jul 1st, 2008 04:02 PM
June 08: Your Money or Your Life	PhxMJ	Your Money or Your Life, by Joe Dominguez and Vicki Robin	36	Jun 26th, 2008 08:43 PM
Throwing good money after bad money	HenkHolland	General Business Discussion	18	May 27th, 2008 12:43 AM