Modern Wisdom

#269 - Richard Meadows - Optionality: How To Make Your Own Luck In Life

Jan 14, 2021

Richard Meadows, a journalist and author of "Optionality," shares insights on balancing life and making the best choices amidst uncertainty. He emphasizes the importance of earning early for greater flexibility and discusses how to develop systems that create personal luck. The conversation dives into the rise of nomadic family lifestyles, personal growth through skill diversification, and the complexities of managing career and family life. Meadows also critiques predictive financial models, advocating for an action-first mindset in decision-making.

01:24:32

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Richard Meadows

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Quick takeaways

Optionality is the key to maximizing capabilities and exploring possibilities for human flourishing.

Financial independence provides significant optionality, allowing individuals to make choices aligned with their values and goals.

The trade-off between exploring and exploiting is important for managing optionality and leveraging the right opportunities.

Deep dives

Building Optionality in Life

Optionality is a key ingredient for human flourishing, providing the right but not the obligation to take action. It enables individuals to maximize their capabilities and explore a wide range of possibilities. Optionality is not about having numerous choices in consumer capitalism, but rather about having high-quality options that align with one's values and goals. It is important to cultivate optionality by making small-cost, open-ended decisions that offer potential upside. This can include reaching out to people you admire, taking protective measures against risks, or exploring emerging fields and technologies. By actively building optionality, individuals can create their own luck and navigate uncertainty with confidence.

Intro

3min

The Power of Optionality

16min

Harnessing Optionality for Personal Growth

31min

Balancing Life: Career and Family

7min

The Rise of Nomadic Family Lifestyles in a Globalized World

2min

Navigating Choices and Predictive Pitfalls

24min

The Shifting Landscape of Fashion and Optionality

3min

Richard Meadows is a journalist and author.

Life doesn't come with an instruction manual. How to organise our lives to be efficient but have options, to be take advantage of routine and enjoy variety is one of the hardest balancing acts we face.

Expect to learn why you should earn as much money as you can when you're young, how to make life changing choices under uncertain conditions, protect against financial disaster, develop a system to create our own luck and much more...

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Extra Stuff:

Follow Richard on Twitter - https://twitter.com/meadowsrichard

Buy Optionality - https://amzn.to/397R4lJ

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