Risky stability

This is going to be a quick post based off of an exercise for a class I’m taking by Ramit Sethi called Success Triggers.

In this exercise, Ramit talks about the role of risk in a person’s life and how a person can have frameworks for leveraging risk, even if that person is risk averse.

In short, Ramit suggests picking 2-3 areas of your life you want to keep stable. In his case he chose his vehicle, his house, and his relationships. Then, he goes on to talk about areas in his life where he wants to take calculated risks. The example he brought up was being able to take [calculated] risks on new products in his business in an effort to have more success.

The exercise is to answer the same questions:

  1. What are the 2-3 things you want to keep stable in your life?
  2. What do you want to be more risk-seeking about?

So, let’s get to it!

What are the 2-3 things you want to keep stable in your life?

The quick answer here is my relationships, my home, and my base-level of finances (meaning, I don’t want to give up the simple lifestyle I currently have – though I wouldn’t mind improving things a bit!).

For my relationships, I want to make sure I continue to make efforts to keep my current relationships with friends, family, and my greater network strong.

For my home, although I do want to move to my own place in the near future, I have a very comfortable house I live in with 2 other people and I don’t want to lose it as the place a reside in gives me a good foundation in life.

Lastly, although I definitely want to become financially free, I don’t want to move in the opposite direction and not be able to afford the things in life I want.

What do you want to be more risk-seeking about?

The short and easy answer here is my sources of income, practicing being creative, and living an interesting life.

My sources of income

I have written a lot about my desire to become financially free. I am still 100% chasing that idea. However, most of my energy to date has been focused on the following:

  1. Getting rid of my high-interest debt (which I FINALLY completely paid off!)
  2. Building a 6-month “safety net” to cover expenses should an emergency occur

As soon done with both of these foundational objectives I will start aggressively chasing sources of income outside of my “day job.”

I want to be clear, I have worked very hard to create a system that automatically deducts money from my monthly paycheck and puts it away for things like retirement, travel, Christmas gifts for my sisters, and a bunch of other "just-in-case" things. Then, with a portion of the leftover funds I can then invest in things like in myself towards new sources of income.

I already have a course lined up for attacking this goal! (I’ll write more about that journey as it happens).

Practicing being creative

My goal for the rest of this year is to record and publish 6 podcasts. I’ve already recorded 1 podcast and I’m in the process of editing and publishing it – look out for an announcement closer to June 15th!

Writing this blog taught me a lot of lessons around being comfortable expressing myself and clarifying my thoughts. Additionally, I was featured on my CEO’s LinkedIn through serendipity as he wanted to promote the blogs of people within the company who were generating content.

By holding myself to a specific goal within a finite amount of time I hope to take more action on it as in the past I have dreamt a lot but not taken much action! Look out for the podcast which I’ll be release here on this blog.

Living an interesting life

I’ll be honest, it’s been a little hard for me to live a very modest life over the past 1.5 years. In order to pay off my high-interest debt I really had to lay low and stay laser-focused. This meant not going out with friends to eat or drink, not taking vacations, packing my lunch whenever possible, and doing many other things that limited my spending.

Now that I am slowly starting to turn a corner as far as my finances go, I’m really looking forward to picking up hobbies and just living an interesting life so I won’t have regrets. One of the biggest things I want to do here is pick up a hobby and dedicate time towards getting better at it. My current thoughts are either a specific type of social dancing or possibly an instrument. Either way, this will also be something I write about once I decide where I will put my time and money.

In closing

As there are big things in my life I still want to accomplish, I need to take calculated risks in an effort to try and attain these goals.

How about you – what are the areas in life you want to keep stable? And on the contrary, what areas of life do you want to be more risk-seeking?

Thanks for reading this far! Look out for another post coming soon. All the best!

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