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The most precious resource is agency

simonsarris.substack.com

261–270 of 340 posts

Re: The most precious resource is agency

#261

Earlier quoted context omitted.

I just applied for a regular job. Because to be honest, it’s gonna be pretty sweet having a fat bank account, even if it’ll take till I’m 50 to have FU money. You will never have FU money working a regular job.

I believe FU money is not about how much you earn, it’s about how much you save vs. spend. I can afford to stop working for more than a year, even though I’m not 25 yet, I would gladly say I have FU money. It’s because I don’t spend much.

That's not FU money, that's enough money not to work for one year. At the end of the year, you cannot, in this context, say FU to anybody.

Re: The most precious resource is agency

#262
post #241

Earlier quoted context omitted.

But how did you decide that this is what you wanted? It is a big, life-changing decision to make. Did you wake up one morning and think, 'you know what, having a child would really make my life a lot better'? Or had you been looking forward to becoming a parent from an early age, and were just looking for the right time? E.g. I certainly didn't even think of it when I was 16 - I was dreaming of other things. Nothing…

For me it played a big role that I wanted my kids to have grandparents for as long as possible, since I lost mine relatively early. Also the other way around, for my parents it is nice to have grandchildren now too.

Sure, these are valid considerations once you have decided to have children. It is the 'how' and 'why' of even deciding to have children that I am curious about.

I mean, were you in your early 20s, grinding leetcode, thinking "can't wait to become a parent"? Or was it more of "I want to have had children when I am 65, so even though I'm not over the moon about it right now it is what it is, I'll just go with it"? Or "all my friends and relatives are doing it, so it never even occurred to me that I had other options"?

Re: The most precious resource is agency

#263
post #147

Earlier quoted context omitted.

> Is your 'live on the interest from half the earnings of 11 years as an engineer' going to cover $500k in 20 years time? Most people won’t ever be able to do that, no matter how much they save of what they earn. Also, cost of living is another huge factor here. Housing isn’t always as expensive as it is in the Bay Area, and some countries have good (even sometimes great) free education. Heck, in some, you are paid t…

Well in that case you're saying FU to your children instead of the bank that's loaning them college money. If you had actual FU money you'd be able to pay...

FU money isn’t about being able to satisfy every whim and hold up to anyone else’s standard.

Almost nobody in the whole world can afford to send their children off to a $500k college.

Not even after saving up half of everything they’ve earned across their entire life. I don’t care much about holding myself up to such an unreasonable standard.

Noboxy in the world is entitled to expect anyone else to pony up such an amount of money for them either.

If I can

- put a roof over their head,

- clothes on their backs,

- feed them well every day,

- provide them a good health insurance,

- send them to school

- and afford one or two extra-curricular activities

- as well as one or two vacations, preferably abroad, a year,

I’ll have more and be able to provide them with more than most people ever had, have and expect to be able to in their entire lives.

If I can do so without ever needing to work again, it absolutely is enough for me to tell any employer to go find someone else to do the job and please don’t let the door hit them on their way out.

To me, anything more is an extra nice to have that I don’t owe to anybody.

You appear to have a different point of view. That’s fine. To hold yourself to a different standard. That’s okay too. It’s your life.

You also seem to have a hard time grasping that different people have different needs, and to consider that everybody else should abide by your standards.

This, well… is fine too, I guess.

Re: The most precious resource is agency

#264
post #248

Earlier quoted context omitted.

I’m starting to think this is the direction I want to go in. The butts-in-seats culture is strong here in Sweden though (strangely upheld by the butts in the seats themselves). So I’m a bit worried it will be a “dead end career wise” and not sustainable until retirement (I’m 43). Any thoughts on this? How do you find work and what makes you think you will continue to find work for 10, 15 or 20 years?

My thought is that if I can't find work as a contractor then I'd have as little chance at finding work at a company, so it may be time to retrain anyway. I am assuming you're a software developer, I'm by no means an expert on contracting, but my two recommendations are: Specialize in a domain, and stay on the technology bandwagon. You can't pin your career on a technology, they go obsolete too fast, but you can speci…

Thanks! Last few years I’ve been a data science manager, and my education is in engineering physics, but I have a lot of experience with software (also as a consultant / running a small consulting company).

Focusing on an industry domain (rather than toolset) seems smart. It’s difficult to be productive in new/unfamiliar knowledge domains and I’m sure buyers understand that.

Re: The most precious resource is agency

#265

Earlier quoted context omitted.

That's a great goal, but you're confusing simply having money with having FU money. They're not the same. The "FU" bit is important. It means something. To be honest, even your strategy there sounds tremendously flawed because you're assuming that you'll even want to live that life. What happens if you meet someone, get married, and have a couple of kids after you 'retire'? Suddenly your retirement fund is nowhere ne…

> how do you pay for your kids to go to college? Just to point out, there are some _really_ good college's in the EU that don't cost $$$. eg: https://leverageedu.com/blog/free-universities-in-germany/ (random page about it)

As a matter of fact, France raised it’s tuition fees for foreigners, in part because their universities were seen as suspiciously not expensive enough.

Which I totally get, but find hilarious nonetheless.

Re: The most precious resource is agency

#266

Earlier quoted context omitted.

15 years ago a young engineer i worked with overheard me say "getting rich is a pretty easy formula if you are patient." he came to me later and asked me to expound. i told him "the formula is: spend less than you make and invest the left over. you do that long enough and you'll become wealthy." i also told him "from what i can tell, it will happen so gradually that you'll barely notice a difference in your lifestyle…

What is the point of this story? This will objectively never happen for anyone with a ”regular” job, I.e. anywhere within 1 standard deviation or less of the median income. Also, counting a home’s net worth in assets does not make sense to me unless you can afford to greatly downsize at anytime and the market is liquid.

If you invest $500 per month for 40 years and get 6% interest, you'll end up with almost a million dollars.

$6,000 per year is a significant portion of your take-home income if you're making the median income in the US, but it's possible.

Re: The most precious resource is agency

#267
post #8

This article did a great job of articulating something I've always felt strongly about but haven't been able to put into words. I'm sure I'm not the only one who felt like my schooling was mostly a giant waste of my time and energy. I was waaaay ahead in subjects I liked, because those things I learned myself out of innate interest. Rather than the system accommodating and encouraging being ahead, in those subjects I…

[deleted]

Re: The most precious resource is agency

#268

Earlier quoted context omitted.

I went and did the other side, living nontraditionally and trying to be what I wanted. I just applied for a regular job. Because to be honest, it’s gonna be pretty sweet having a fat bank account, even if it’ll take till I’m 50 to have FU money. My current hypothesis is that the team is all that matters. The work can be the most boring, crud-type work. As long as you’re working with people you like on something vague…

Amen. I’m a sober alcoholic, and if I died tomorrow I’d be content knowing that I did at least one worthwhile thing with the time I had: I helped another alcoholic, a 23 year old man who tried to kill himself shortly before I met him, get sober and start working and move out of his mom’s basement and stand up straight and look other people in the eyes and then go and help a few other people stop drinking. Not a singl…

Amazing. Inspiring. Thanks for writing this.

Re: The most precious resource is agency

#269

Earlier quoted context omitted.

Daycare. The point is that school is, first and foremost, a daycare. All the talk about education is just marketing.

It's not, though. Kids with stay-at-home parents are still required to go to school. Compulsory education is near universal at this point, but at least in the American tradition, the first publicly-funded, mandatory schools were mostly for instilling community values into kids, and this was in communities where women weren't even allowed to work outside the home. Kids were actually expected to learn reading and math…

Kids can homeschool and cover all the same courses taught in school in 1/3 of the time, which leaves a lot of extra agency for the things the author talks about - doing meaningful work from a young age, exploring the world, self-directed learning, etc. etc.

Re: The most precious resource is agency

#270

The problem with the article is that it only uses examples of extra ordinary people. Most people are not geniuses, they are average. You are not a genius. Most people who flunk out or drop out of school do not become billionaires and neither will you. Most people who decide to give it their all and become various forms of artists will never be famous, noticed no wealty or admired (Though on a nano scale you may have…

I started working fulltime at 15 (illegally) to pay for my family to have a place to live. I was not able to attend college and I technically can't prove I ever graduated HS. I literally carried buckets of shit as a kid for my family of 7 we were so poor. My parents/family had taken the lions share of my earned money until they died in my early twenties. I am now in the 1% of global earnings, and every step has been…

do what others hate because you get paid more for it.

So very true.

I see top management, up close, spending much of their time handling stupid/obnoxious tasks nobody else wants.

I see a friend reap considerable wealth by dealing, literally, in garbage.

I see $minwage jobs filled & paid because nobody else wants to.

I’d write software for free. It’s the absurd deadlines & requirements I get paid to deliver on.

I see the “income inequality” issue as a matter of most people not willing to do - and those who do get paid well.

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