My Worst Investment Ever Podcast John Spence – Don’t Let Material Things Define You
BIO: John Spence is an author, international executive coach, professional development educator, virtual trainer, strategic planning facilitator, keynote speaker, and developer of online learning programs.
STORY: When John was a young CEO of one of the Rockefeller Foundations, he invested in the trappings of a CEO, such as big houses, boats, wines, artwork, etc., all in the name of impressing people. All these things were lost in days when Hurricane Andrew hit Miami.
LEARNING: Don’t let material things define you. The ultimate freedom is the freedom of mind. The accumulation of things is uncorrelated to happiness.
“Be grateful for everything you have now.”
John Spence
Guest profile
John Spence is an author, international executive coach, professional development educator, virtual trainer, strategic planning facilitator, keynote speaker, and developer of online learning programs.
John is recognized as one of the top business thought leaders and leadership development experts in the world and was named by the American Management Association as one of America’s Top 50 Leaders to Watch, along with Sergey Brin and Larry Page of Google and Jeff Bezos of Amazon.
As a consultant and coach to organizations worldwide, from startups to the Fortune 10, John is dedicated to helping people and businesses be more successful by “Making the Very Complex… Awesomely Simple.”
Worst investment ever
John became the CEO of one of the Rockefeller Foundations when he was 26 years old. This saw him earn a significant salary. John decided to use his earnings to invest in houses, boats, artwork, wine collections, and everything else that were the trappings of being the CEO of a multinational company. At a young age, John thought that those were the things that would impress other people.
In 1989, Hurricane Andrew hit Miami and destroyed everything John owned. In just a matter of days, all his properties and belongings were gone. John had invested so much time, energy, effort, and ego in all that stuff, and it was all taken away in one day.
Lessons learned
- Even when you suffer a significant loss, stay focused on your values and remember that others have been through worse.
- Material things are lovely, but they don’t define you.
- You’re stronger than you think you are.
- Be grateful for everything you have now.
Andrew’s takeaways
- The ultimate freedom is the freedom of mind—the freedom to think and detach.
- The accumulation of things is uncorrelated to happiness.
Actionable advice
Look at the things that are truly important and valuable in your life.
No.1 goal for the next 12 months
John’s goal for the next 12 months is to learn more and meet more people.
Parting words
“Just live by your values, treat other people with love and have fun.”
John Spence
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Connect with John Spence
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points