As example, Warren Buffett lives by specific principles. These principles help him make better decisions and avoid costly mistakes. His partner, Charlie Munger, lives with principles. Tony Robbins lives with principles. Ray Dalio lives by a set of principles.
I like to think of principles as an operating manual for how to live. In this email, I’ve included my personal principles.
Here they are:
1. Our goal is to achieve The F You Position, not to reach a specific net worth “number.” This position is different for everyone.
2. We value time over money. Time is perishable and irreplaceable.
3. Our health is our most important asset. We make daily investments to improve all aspects of our health.
4. We demand income from every dollar invested until we reach our specific cashflow goals.
5. When investing, we look for investments that provide the highest return and then we apply very conservative management strategies in order to minimize our risk of loss.
6. We use debt conservatively and work to eliminate all debt, as the foundation of our investment plan.
7. We do not care about the Joneses. This means we don’t buy anything simply to impress someone else. We value experiences over material items. We constantly strive to reduce and eliminate our need for approval by not giving a damn what others think about us.
8. We are badasses in all areas of our lives including: financially, mentally and physically.
9. We do not scare easily and profit from “ugly” situations that others run from.
10. We seek opportunity in EVERY adversity.
11. We make lots of mistakes and learn from each and every one. In other words, we embrace failure and use it as a tool to improve.
12. We handle problems quickly by taking massive action.
13. We work hard to think accurately, and we typically do the opposite of what most people do.
14. We reject ALL limitations.
15. We play the long game and make decisions accordingly.
16. When we work, our focus is to always build cashflow pipelines. We try and arrange our efforts to get paid multiple times in the future for the work we do today.
17. Opinions do not matter. Not anyone’s. Not yours. Facts matter. Actual results matter. Almost everything we hear is an opinion, and we accept these opinions as fact. This is a costly mistake.
18. We refuse to conform.
19. Our overriding goal above all others is…peace of mind and happiness. ?
Well, what do you think?
Would any of these guidelines make your life better?
P.P.S. I’ll be releasing my March Cashflownaire newsletter this Friday. In the newsletter, I share my plan to create 1,000 monthly income streams. You can join here.
