23 min
The Downside of Trying to be Like Everyone Else FI after 40 Podcast
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- Investing
People tend to want to fit in. To be accepted. To be normal. I've spent much of my life in pursuit of this. But I've finally realized the downside of trying to be like everyone else. Following the path others have laid out can have negative consequences, both personally and financially.
From accumulating debt, to adopting unhealthy lifestyle habits, it's easy to fall into the same patterns as everyone else. It feels normal, so it seems acceptable. But you have the ability to determine what's valuable in your life and to make your own decisions.
I outline several areas where I've tried to adjust my habits in order to improve my financial situation as well as my personal life.
See full show notes
My story
Most of my life I’ve wanted nothing more than to be normal.
I’ve realized as I’ve gotten older that being normal isn’t always a good thing.
What is normal?
“Conforming to a standard; usual, typical, or expected.”
Why do people want to be normal?
Acceptance, fitting in
Downside
Avoid taking risks
Without risks you can’t grow
It hides your uniqueness
Areas where being normal can have negative consequences:
Debt
Student loans
Mortgage
Credit cards
Buying and leasing new cars
Don't get into the habit of getting a new car every 5 years
Used cars are more affordable
Updating your house
HGTV generation
Lowes and Home Depot commercials
There’s always another upgrade
Some things are necessary, you don’t want to neglect your home
But many are purely aesthetic – bathrooms, kitchens, new TVs
Would you rather spend $15-20k on a new kitchen or keep that as an emergency fund or take a family trip and invest the rest
If you have the money, go for it
But don’t sink further into debt
Eating low quality food
Fast and easy
Often cheap
We see it in commercials and it normalizes the behavior
Watching too much television
I am by no means anti-television
But Netflix has really changed things
It’s now normal to binge watch
YouTube is another example
Getting married and having kids
Marriage can be a wonderful thing
Having kids is an amazing experience
But do it when you are ready – not because you're approaching a deadline
Or don’t do it at all
Being on your phone constantly
It’s a terrible habit and we all know it
You see it everywhere so it feels normal
“What grade were you in…” from 12-yr old
Takeaways
Be intentional with your choices
Identify what is valuable – time, experiences – not stuff
Remember the value of patience and discipline – something we teach kids
---
Support this podcast: https://podcasters.spotify.com/pod/show/fiafter40/support
People tend to want to fit in. To be accepted. To be normal. I've spent much of my life in pursuit of this. But I've finally realized the downside of trying to be like everyone else. Following the path others have laid out can have negative consequences, both personally and financially.
From accumulating debt, to adopting unhealthy lifestyle habits, it's easy to fall into the same patterns as everyone else. It feels normal, so it seems acceptable. But you have the ability to determine what's valuable in your life and to make your own decisions.
I outline several areas where I've tried to adjust my habits in order to improve my financial situation as well as my personal life.
See full show notes
My story
Most of my life I’ve wanted nothing more than to be normal.
I’ve realized as I’ve gotten older that being normal isn’t always a good thing.
What is normal?
“Conforming to a standard; usual, typical, or expected.”
Why do people want to be normal?
Acceptance, fitting in
Downside
Avoid taking risks
Without risks you can’t grow
It hides your uniqueness
Areas where being normal can have negative consequences:
Debt
Student loans
Mortgage
Credit cards
Buying and leasing new cars
Don't get into the habit of getting a new car every 5 years
Used cars are more affordable
Updating your house
HGTV generation
Lowes and Home Depot commercials
There’s always another upgrade
Some things are necessary, you don’t want to neglect your home
But many are purely aesthetic – bathrooms, kitchens, new TVs
Would you rather spend $15-20k on a new kitchen or keep that as an emergency fund or take a family trip and invest the rest
If you have the money, go for it
But don’t sink further into debt
Eating low quality food
Fast and easy
Often cheap
We see it in commercials and it normalizes the behavior
Watching too much television
I am by no means anti-television
But Netflix has really changed things
It’s now normal to binge watch
YouTube is another example
Getting married and having kids
Marriage can be a wonderful thing
Having kids is an amazing experience
But do it when you are ready – not because you're approaching a deadline
Or don’t do it at all
Being on your phone constantly
It’s a terrible habit and we all know it
You see it everywhere so it feels normal
“What grade were you in…” from 12-yr old
Takeaways
Be intentional with your choices
Identify what is valuable – time, experiences – not stuff
Remember the value of patience and discipline – something we teach kids
---
Support this podcast: https://podcasters.spotify.com/pod/show/fiafter40/support
23 min