465 | Jonathan Returns: Upside Down Economics and the Priceless Value of a Great Question
Nov 27, 2023
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The return of Jonathan! Catch up on his work behind the scenes. Lessons from failure, curiosity, mastering the small things, skilling up, and the value of time. Change your mindset from scarcity to growth. Focus on smaller things to pivot and reevaluate. The journey is about using lessons learned to make life freer and easier!
Embrace failure and maintain a growth mindset to learn and grow in all aspects of life.
Prioritize intentional spending to optimize personal finances and buy back time.
Focus on mastering the small things to lay a strong foundation for success and adapt to a changing world.
Deep dives
Year End Wins Episode
The podcast hosts announce their upcoming Year End Wins episode, where they highlight the accomplishments of their community members in various areas of life. Listeners are encouraged to send in voicemails or written submissions highlighting their achievements in personal finance, connection, meaning, and giving back to the community and family. The hosts express their excitement to feature as many submissions as possible in the episode.
The Importance of Embracing Failure and a Growth Mindset
The hosts discuss the importance of embracing failure and maintaining a growth mindset. They share personal anecdotes about teaching their children to embrace failure as a learning experience and an essential part of personal growth. They emphasize the need to ask better questions and constantly strive for improvement in all aspects of life. They also discuss the potential of artificial intelligence and coding skills in the changing job market.
The Skill of Spending and the Value of Time
The hosts delve into the concept of the skill of spending, highlighting its importance in optimizing personal finances. They explore how being intentional with spending can save money and create opportunities to buy back time. They discuss the balance of optimizing spending at the beginning of the FI journey and being more open with spending as financial independence is achieved. They encourage listeners to prioritize their values and make choices that align with their goals and values.
The Small Things are the Big Things
The podcast episode emphasizes the importance of focusing on the small things in order to accomplish the big things. It explains that getting the small things right is crucial, as they lay the foundation for success. By automating or mastering the small things, individuals can free themselves up to tackle the bigger tasks when the time is right. The podcast uses examples such as the approach of UCLA basketball coach John Wooden and the story from the book 'Art and Fear' to illustrate the significance of paying attention to the small details.
Adapting to a Changing World
The episode discusses the importance of adaptability and the need to evolve in a rapidly changing world. It highlights the risks of clinging to static identity statements based on degrees or titles, which may become outdated or less valuable as industries undergo transformation. The podcast encourages listeners to focus on developing skills, implementing solutions, and being open to trying new things to ensure long-term security. It also raises awareness about the potential impact of technology and AI on various professions, urging individuals to think critically about their industry's future and their own role within it.
In this episode: lessons from failure, curiosity, mastering the small things, skilling up, and the value of time.
The return of Johnathan! Yes Jonathan is returning to the show to catch up on the work he’s been doing behind the scenes over the last year and a half, the value of freeing up your time, skill spending, and the importance of focusing on the little things while keeping the bigger picture in mind. Whether it’s when you’re just starting your FI journey or if it’s in other areas of your life, failure and mistakes can be inevitable. However, they should never keep you from trying to build and create the life you are working towards! One of the key lessons taught in FI is to change your mindset from one of scarcity to one of growth, and part of that challenge means identifying failures and taking action to learn from them. While you are working towards your own “big picture” on this journey, don’t forget to focus on the smaller things. Not only will it allow you to pay closer attention to what you are doing right and wrong, but it makes it easier for you to pivot and reevaluate when necessary! This journey is not just about reaching that final goal, but about using the knowledge and lessons learned along the way to make life a little bit freer and a little bit easier!
Timestamps:
0:22 - Introduction
1:26 - Update From Jonathan/Lessons From Failure
8:53 - The Curious Mindset
17:57 - Failing Forward and The Small Things
27:42 - The Importance of Skilling Up in Today's World
36:30 - Your Most Valuable Non-Renewable Resource
44:11 - Paying Off The Mortgage/Donor Advised Funds
