Newsletter › #4
Document, Don't Create? | Tools of Titans | The Old Road Won't Take You Somewhere New
Hi, Reader,
It's almost the weekend — hang in there a little longer and it's time off.
Recently I received feedback from two listeners that really touched me, and I'd like to share it.
The first listener's comment:
A private message from the second listener:
They had listened to episode 44 (impostor syndrome) and episode 47 (writing every day for 30 days).
All I did was write down the difficulties I ran into, and it turned out to help other people.
That says one thing: you don't have to be impressive to start building a personal brand.
The era of looking up to idols is over. What people need now is authenticity.
You don't have to be perfect. A few flaws actually make you more real, because they have them too.
If you can do it, they can probably do it too.
Gary Vee: "Document, don't create."
Just record your growth and share it, and you can help others.
It reminds me of a line often attributed to the Indian poet Tagore — "Live your life as a light":
"Live your life as a light, because you never know who might find their way out of the darkness by it.
Believe in your own strength, because you never know who might start believing in themselves because they believed in you."
So I encourage you to start documenting and sharing.
Because you never know "who might start believing in themselves because they believed in you."
【Book share】
Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers
- Author: Timothy Ferriss
- Title: Tools of Titans
- URL: https://www.kobo.com/ebook/AxSGcvlwQDK0EL5t3f1Acg
This is by Timothy Ferriss, author of The 4-Hour Workweek.
His podcast, The Tim Ferriss Show, interviews successful people from every field.
Since launching in 2014, it has passed one billion downloads.
It has been named one of Apple Podcasts' "best of" shows several times, and the media have called him "the Oprah of audio."
This book collects the key points from his interviews with a hundred successful people.
So it isn't an ordinary book with a beginning, middle and end — it's a hundred interview summaries.
That's why the author says he doesn't expect readers to finish every chapter.
But if you read 50% of it, remember 10%, and apply it to your life, it will change your life.
That's exactly how I felt reading it. I didn't read every chapter.
I skipped what didn't interest me and stayed with what did, and that content helped me grow.
Two ideas from the book:
1. Arnold Schwarzenegger's story
At one talk, Arnold Schwarzenegger was asked:
"You're a self-made man. What's your blueprint for success?"
Arnold replied: "Calling me self-made is an overstatement. Like everyone,
I stood on the shoulders of giants to get where I am today. Many people helped me along the way, including my parents,
coaches, teachers, kind people who lent me a couch or a gym, mentors who shared their wisdom, and the idols in magazines who inspired me."
This one really struck me. I used to think I was self-made — that I got where I am on my own.
But Arnold's words made me stop and reflect on how much help I've received.
My parents raised me, teachers educated me, managers trained me, friends stood by me,
and the books I've read helped me a great deal too. So I've stood on the shoulders of giants
to get where I am. I'm not self-made.
Once I understood that, I became more humble and more grateful.
2. What these top performers have in common
The author tallied up his guests and found some things they share. Here are three:
1. More than 80% of the interviewees practice mindfulness or meditation.
2. Most of the men over 45 skip breakfast.
3. They recommend books such as Sapiens, Poor Charlie's Almanack and Man's Search for Meaning.
I already knew meditation and fasting are good for body and mind — I meditate and fast myself.
But I was still a little surprised by the numbers. I didn't expect to be doing the same things they do.
Incidentally, Steve Jobs also meditated and fasted.
At the end of each interview, the author asks for book recommendations.
I noticed the guests recommend much the same books, which shows that "the great way is simple, and all roads lead to the same place."
While reading, I write down the titles, add them to my cart and put them on my to-read list.
If you'd like to know the daily habits of these successful people, I highly recommend this book.
【Learning resources】(new section)
Why I'm not looking for the next Tesla: "The old road won't take you somewhere new"
https://www.youtube.com/watch?v=rVOlhw7X2-Y (in Mandarin)
Regular listeners know I often recommend videos by Yikou Xinfan; this is his latest.
In it he explains why he stopped looking for the next Tesla.
In short: the time it would take him to find the next Tesla is better spent investing in his own business.
I love one idea he raises: every new investment opportunity we look for
costs time. You have to analyze the company's financial statements and follow its news.
If he also had to research companies other than Tesla, he found he wouldn't have the time.
So he put the rest of his money into broad-market index ETFs, and turned the rest of his attention to his own business.
It made me think of myself: real estate investing is what I'm best at and how I've made the most money.
So why am I gradually moving my assets into stocks and index ETFs, and no longer looking for the next property deal?
Because I've found that making money from investing can no longer bring me more happiness.
But creating — solving other people's problems and helping them — does bring me happiness.
Creating makes me feel my life has value. I can be a "producer," not just a "consumer."
And as I do this, invitations and partnerships have followed, and the channel has started earning income.
So I don't want to spend much more time and energy looking for the next real estate deal.
I want to keep my attention for creating, making more useful content,
to help more people like me find direction in their lives.
If you're also unsure whether to keep spending lots of time researching investments,
I highly recommend this video.
This week's episode
#48 | Why young people shouldn't buy high-dividend ETFs: investing in 0056 made NT$1.8 million less over ten years!
Have you ever thought: "I just want steady dividends. I'm not after big gains, just peace of mind"?
But for young people, high-dividend ETFs aren't safe — they're poison for growth.
In this episode I use data and logic to help you rethink
why "collecting dividends" actually makes you earn less and get rich more slowly.
You'll hear:
• why high-dividend ETFs were never designed for young people
• a ten-year backtest of 0050 vs 0056: a return gap of 182% (investing in 0056 made NT$1.8 million less over ten years!)
• three myths busted: they hold up better in a downturn? the price recovers after the dividend? steady cash flow? All wrong!
• the tax and fee traps of high-dividend investing, and how they quietly eat into your compounding
• the truth about how NT$3,000 a month over 40 years can grow into NT$12 million for retirement
If you're still working and have a steady income,
this episode will overturn everything you thought about "high dividends."
Don't let a false sense of security steal your long-term returns.
PS. Because so few people clicked them, I'm no longer providing episode summaries and mind maps. Sorry about that.
Read the English show notes › (the episode is in Mandarin Chinese)
If you enjoy the show, take a screenshot of it,
and tag me in your social stories — I'll respond.
Finally, remember to subscribe, leave a comment and give it five stars!
Listen:
🍎Apple Podcasts
🎧Spotify
🎦YouTube
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That's it for this issue of the FIRE Life Weekly.
If you have any questions about the show,
or suggestions for the newsletter,
just write to me at doug@firetw.com.
I look forward to hearing from you.
Have a lovely weekend,
and see you next week.
Doug