Defining Your Ideal Life and Being a 'Time Billionaire'

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Under 40, we have a billion seconds to live. The key to success is how we spend that time. Take a few minutes to define your ideal life, with details on who you're with, how you spend your time, your health, and financial situation. Surprisingly, many of these things don't require much money. This exercise provides clarity on what you should be doing in the present to achieve your ideal life. It's a powerful tool for young people seeking advice.

Patrick Donley (@JPatrickDonley) sits down with Kevin Dahlstrom to chat about how to create your ideal life. They do a deep dive into Kevin’s 17 point Twitter thread that went viral on how to lead the life you dream of. You’ll also learn more about the importance of minimalism and keeping a low burn rate to give optionality to your life, how much money you’ll need for this lifestyle, what smart money moves the wealthy make, three behaviors that will put you ahead of 99% of people, plus much, much more!

Kevin is well known on Twitter for good reason and cranks out content that will improve your life. He was the founder of several start-ups, the CMO of two public companies, and has invested in over 70 private equity and real estate deals.

Kevin is married with two children and lives in Boulder, Colorado. In his free time, he is an avid rock climber.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro.

02:51 - What the inspiration was for Kevin to write his Twitter thread on leading a great life.

03:58 - How to avoid becoming one-dimensional and build a multi-faceted life.

05:33 - What the elderly talk about that was most important to them.

08:12 - How to go about determining and creating your ideal life.

12:02 - What it was like for Kevin to reboot his life and walk away from traditional notions of “success”.

15:43 - How Kevin found minimalism and how it has benefitted his life.

21:29 - How to calculate how much money you’ll need to lead your ideal life.

28:47 - What are the smart money moves that the wealthy make?

31:37 - Why investing in real estate is an important part of wealth building.

35:43 - How an illness during college forced Kevin to focus on health and fitness.

41:08 - Why writing is a superpower.

45:14 - How 1000 true fans can change your life.

47:58 - Why it is so important to avoid dumb mistakes.

54:52 - How to find your place and your tribe.

58:50 - Why it is important to give back.

01:02:43 - The importance of learning to say no.

01:03:46 - The importance of compounding.

01:06:18 - What the 3 behaviors are that will elevate you above 95% of all people.

01:07:53 - Why the search for truth is vital for a great life.

01:20:03 - How to avoid the dangers of comparison.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
The Everything Guide to House Hacking by Robert Leonard.
Kevin’s thread on leading a great life.
Compounding podcast- Mr. Money Mustache.
Your Money or Your Life by Vicki Robin.
Outlive by Dr. Peter Attila.
1000 True Fans by Kevin Kelly.
The Artist’s Way by Julia Cameron.
Atomic Habits by James Clear.

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