Welcome to the Dreamcatcher, where I share the things that inspired me in some way over the past week.
Before he retired in his 30s, Steve was an IT guy — an unfulfilled IT guy. He’s had some time to reflect on why IT workers are so well-represented amongst the early retirement seeking crowd. I’d say he nailed it. There’s a big disconnect in many IT jobs between the work being done and the people who benefit from it. That distance makes it harder for IT workers to really enjoy the fruits of their labor. Combine that with a typically high salary, and you have a recipe for someone who sees a way to get out of the game earlier than most. The comments are validation of Steve’s dissection of this phenomenon and are well worth the read.
Adam has a doozy of a story about dealing with his mom’s estate after she unexpectedly passed shortly after he graduated college. For all the parents out there, imagine your kids going through this should something happen to you. That alone should be enough to convince you it’s time to get your financial information together in one place and make sure you’ve got as much covered as you can. In Adam’s case, there was an unexpected financial benefit, and the entire experience probably set him on his amazing financial journey much sooner than he otherwise would have.
This nugget of inspiration is vintage, circa 2013. Done By Forty and I had a good discussion on Twitter about whether travel hacking, or really credit card rewards in general, backfires on the consumer because they end up spending more than they would have without the rewards. Turns out, there was this article from back in the day that looks at the research at the time, which is still one of the only pieces of research into people’s behavior when being rewarded for using a credit card instead of cash. I think it’s high time someone revisit this study. I’m grateful to DB40 for the back-and-forth and for bringing this research to my attention.
Selling your way to wealth in all areas of life featuring Wealth Well Done – The Mastermind Within podcast
Erik interviews Bill, who writes at Wealth Well Done, about how important relationships are to building wealth, especially if you’re in sales. Bill has a truly amazing story about finding success after a 10-year prison stint that began while he was in college. Listening to him, you can tell he’s truly a wonderful person with a positive message and infectious attitude. He really proves that your past doesn’t have to dictate your future if you’re willing to put in the effort to achieve your dreams.