Sunday, August 26, 2018

Financial advice on an index card

Last week's blog was about managing money. And I had several questions about managing money. I figured that there had to be something simple that everyone could understand. And yet was effective,  And as seems to be the case on most occasions these days anything you think should be there, is there.


And when I found, "All the financial advice you’ll ever need fits on a single index card", I was intrigued. And interested.


And the notes on the talk seemed that it was exactly what I was looking for.
"At first glance, fiscal planning can seem more complex and time-consuming than it’s worth. But according to Professor Harold Pollack of the University of Chicago, you can fit all the financial advice you’ll ever really need on a single index card. Economics correspondent Paul Solman takes a look at Pollack’s ten easy tips for simple and sensible money management."


While all the 10 tips may not apply to everyone, these are solid. Just follow them and you'll do better at managing your money than any financial planner ever could.

Pollack’s 10 Tips
1.    Strive to save 10 – 20% of your income.
2.    Pay your credit card balance in full, every month.
3.    Max out your 401(K) and other tax advantaged savings accounts.
4.    Never buy or sell individual stocks.
5.    Buy inexpensive, well diversified indexed mutual funds and exchange-traded funds.
6.    Make your financial professional commit to a fiduciary standard.
7.    Buy a home when you are financially ready.
8.    Insurance – Make sure you are protected.
9.    Do what you can to support the social safety net.
10.    Remember the index card.


Sunday, August 19, 2018

Managing Money

A couple of days ago, my sister Mabel was reviewing her portfolio. And was disturbed. She was disturbed because although she was using several professional money managers, they were unable to provide a few basic answers. And her questions were quite simple:

a. What are my returns for the last year ?
b. What are my returns since I started investing ?
c. Where are my investments and why?
d. What are the returns of the benchmark against which you are investing ?


She wanted to do it herself, and wanted my opinion. Having a big mouth, I told her she should research the subject and then make a decision. No surprise, I was immediately given the task.

And being the Good brother, that's what I did. I won't bore you with all of the research, except to say the results were extremely interesting.

There was one talk which did not give me what I was looking for. However I did find that it would be interesting to most. And could help them re-define the way they managed their wealth. At a macro level.

Warren Buffett: Investment Advice & Strategy - #MentorMeWarren
Evan Carmichael



 

Sunday, August 12, 2018

The mathematics of weight loss

Weight loss is my favorite subject. And something I struggle with all the time. And so I was intrigued to learn the mathematics of weight loss. I'm sure you will too.


The mathematics of weight loss
Ruben Meerman


Sunday, August 5, 2018

What makes a good life?

Who among us does not want to be happy and healthy ? In that case it makes sense to listen to what the longest study on happiness has found.

What makes a good life? Lessons from the longest study on happiness
Robert Waldinger

What keeps us happy and healthy as we go through life? If you think it's fame and money, you're not alone – but, according to psychiatrist Robert Waldinger, you're mistaken. As the director of 75-year-old study on adult development, Waldinger has unprecedented access to data on true happiness and satisfaction. In this talk, he shares three important lessons learned from the study as well as some practical, old-as-the-hills wisdom on how to build a fulfilling, long life.

Sunday, July 29, 2018

Gulbarga

Friday evening, Ivy was informed that she has been transferred to Gulbarga with immediate effect, and was to report there the next day. Gulbarga is a small town in North Karnataka that borders the states of Maharashtra and Telangana. Since Gulbarga does not have an airport, it was not possible for Ivy to report there on Saturday. And so she spent Saturday informing all and sundry about her inability to report on Saturday.

We found that the closest airport was Hyderabad and it was a 5-hour road trip from there. Or a 10-hour train journey. We chose the train journey. I hadn’t traveled in an outstation train in around 20+ years and was kind of looking forward to the journey.


What turned out to be an amazing experience started with the booking. The online booking for the Indian Railways happens at www.irctc.co.in. And ironically it’s the “Indian Railway Catering and Tourism Corporation Limited. It’s an amazing website that compares extremely well with most of the travel websites, including the airlines. It has a feature that predicts the probability of a wait listed ticked being confirmed, among several awesome features. We managed to book tickets for Sunday and were on our way.


The train journey was comfortable and uneventful. The train was on time and we arrived Gulbarga at 6 a.m. The station had a working escalator and Gulbarga was already feeling good. We checked into the Citrus, a small boutique hotel located inside a Mall, a Gold Mall.



While Ivy went to report to work, I walked around the town. It was nice and had its own uniqueness. I came across several gardens, a science center, a museum and finally a group of huge beautiful structures that resembled several Taj Mahal’s. I had never seen so many beautiful buildings together.




And when I got there, I realized, that this was Ivy’s new workplace. The ESIC hospital complex.

Sunday, July 22, 2018

Doing Nothing

Very often, you want to do nothing. This was 1 such week. And then I remembered that Mabel had mentioned that her husband Prem was an expert at doing nothing. And had found an article that not only found it okay, but glorified it.


This was perfect. I could re-post the article about doing nothing, thereby practicing what was being preached.

Surprisingly, the article was awesome. And was not what I thought it would be. And I'll have to work hard to be able to actually practice what it says.

Enjoy reading !




Aytekin Tank
Founder at www.JotForm.com
https://medium.com/swlh/the-power-of-doing-nothing-at-all-73eeea488b8b 

The old crocodile was floating at the river’s edge when a younger crocodile swam up next to him,

“I’ve heard from many that you’re the fiercest hunter in all of the river bottoms. Please, teach me your ways.”

Awoken from a nice long afternoon nap, the old crocodile glanced at the young crocodile with one of his reptilian eyes, said nothing and then fell back asleep atop the water.

Feeling frustrated and disrespected, the young crocodile swam off upriver to chase after some catfish, leaving behind a flurry of bubbles. “I’ll show him”, he thought to himself.


Later that day the young crocodile returned to the old crocodile who was still napping and began to brag to him about his successful hunt,

“I caught two meaty catfish today. What have you caught? Nothing? Perhaps you’re not so fierce after all.”

Unphased the old crocodile again looked at the young crocodile, said nothing, closed his eyes and continued to float atop the water as tiny minnows muched away lightly at the algae on his underbelly.

Again, the young crocodile was angry he couldn’t get a response from the elder, and he swam off a second time upstream to see what he could hunt.

After a few hours of thrashing about he was able to hunt down a small crane. Smiling, he kept the bird in his jaws and swam back to the old crocodile, adamant about showing him who the true hunter was.

As the young crocodile rounded the bend, he saw the elder crocodile still floating in the same spot near the river’s edge.

However, something had changed — a large wildebeest was enjoying an afternoon drink just inches near the old crocodile’s head.

In one lightning fast movement, the old crocodile bolted out of the water, wrapped his jaws around the great wildebeest and pulled him under the river.

Awestruck the young crocodile swam up with the tiny bird hanging from his mouth and watched as the old crocodile enjoyed his 500 lb meal.

The young crocodile asked him, “Please… tell me… how… how did you do that?”

Through mouthfuls of wildebeest, the old crocodile finally responded,

“I did nothing.”

Doing what matters vs. busy-bragging

When I was first building JotForm, I was a lot like the young crocodile — believing that I always had to be doing something to get results.

Back then, if someone would have told me that I would see greater results by spending more time doing nothing, I would have rolled my eyes and continued to chip away at my 16 hour day of work.

I thought that in order to be successful, I had to constantly be building, working, growing and developing the next thing — whatever that “thing” was.

All of us have a problem with busyness. But being busy and being successful are not one in the same. And, I think if we were to make “doing nothing” more of a priority, we might find ourselves catching more wildebeests versus measly catfish.

It worked for me, and I hope it can work for you, too.

But, doing less or nothing at all is easier said than done, especially in a society that suffers from extreme busyness. Let’s take a closer look at our unhealthy obsession with staying busy…
The extreme busyness epidemic.


Mankind has struggled with busyness since the beginning of time — or at least since 425 BC when Homer walked the Earth.

The Odyssey tells the tale of the Lotus-eaters — a strange people that slothed around all day long eating lotus and doing nothing. And, what was stranger than fiction was that these people were content with their lives.

Homer wrote that after some of Odysseus’s crew ate the Lotus-eaters Lotus fruit (say that three times fast), they became like the Lotus-eaters — content, relaxed and a bit lethargic.

Terrified that if all of his men ate the lotus fruit they would be unmotivated to return home, Odysseus ordered the affected men to be tied to the ship benches and for the ship to set sail immediately.

It ’s interesting, Odysseus’s reaction to this feeling of “doing nothing” sounds similar to the Corporate CEO, the Startup Founder and the collegiate football coach we know today — hardcore workaholics that despise anything that might allude to a sense of complacency.

Though, they of course are just the tip of a much larger societal iceberg that feels frozen with fear at the thought of doing nothing.

The world as a whole now measures value in terms of busyness versus quality of work. In many ways, it has become something of a status symbol to be “busy”.

How many times have you heard or had a conversation like this…

“How have you been lately, Mark?”

“Oh man, just insanely busy!”

“That’s awesome to hear man — keep killing it!”

We’ve grown to subconsciously measure a person’s worth based off how many hours they work, how much is on their plate and put simply — whether or not they are running around like a chicken with their head cut off.

In Tim Ferriss’s 4-Hour Work Week, he pokes fun at this idea by facetiously saying that if you want a promotion, you should appear to be more busy by working longer hours, scrambling around and constantly answering emails.

But, sooner or later, all of us have to ask ourselves what our mission is — is it to be the busiest or is it to make the most impact?

And, what’s fascinating is that when we look at some of the greatest minds to grace planet Earth, we see an interesting commonality — they all make time for doing nothing.
The power of doing nothing at all

Making time in your life to do nothing can be challenging — especially during the work week where we are constantly pummeled and bombarded with meetings, notifications and an ever growing list of tasks.

Busy founders have started implementing “Think Weeks” into their annual schedules — week long periods they spend reflecting, reading, thinking and living outside the all-encapsulating world that is running a business.

While young founders like Skillshare’s Mike Karnjanaprakorn have adopted this practice, as well as big names like Steve Jobs, Mark Zuckerberg and Tim Ferriss, it was Bill Gates who originally made the Think Week famous.

For many years while running Microsoft, Gates would retreat into week long Think Weeks twice a year — not vacations, but actual periods of time dedicated to doing nothing.

Gates was so adamant about his Think Weeks that family, friends and Microsoft employees were banned. Today, Gates attributes much of Microsoft’s success to the big ideas and concepts he stumbled upon while doing nothing.
On implementing “nothing” time.


You don’t necessarily have to ban family and friends to retreat into a Think Week, though. Take me as an example.

Every year, I take at least a full week off from my company and head back to my hometown to help my parents with the olive harvest.

All thoughts of startup growth or conversion rates slip away when you’re picking olives. It’s meditative and calming.

I know that olive picking won’t land me at the top of TechCrunch, but it’s a personal measure of success. And somehow, some of my best ideas come to me during this period.

For someone who can’t take an entire week off of work once a year to do nothing, I recommend taking a slightly different approach — embracing the digital sabbath.

On either Saturday or Sunday, force yourself to step away from all forms of technology — a practice known as a digital sabbath.

Shut off your smartphone and hide it in your closet. Powerdown the laptop and slide it under your bed. And, try with all your might to refrain from binge-watching Netflix.

Give your brain space to think by stepping away from the daily grind and doing nothing. Your mind will have time to stumble upon new ideas and further process old ones.


You may find the success that results from this practice to be similar to that of the old crocodile at the beginning of this article.

While we tell ourselves we can achieve more by scrambling, sometimes it’s better to close our eyes and just float.

And, wait, until the wildebeest shows up.

Sunday, July 15, 2018

The Thai Miracle

On June 23, 12 boys and their soccer coach went trekking in a cave system in their area. Over the next few weeks, an unprecedented search was being carried out to locate the missing group.


The search included experts especially cave divers from all over the world. I was puzzled that the search was on for so long. In difficult and dangerous conditions. Especially when it seemed to me that most likely they wouldn’t be found.


I was wrong. The search not only managed to find the boys and the coach. They managed to get all of them out safely. In an unbelievably complex operation. The BBC news has a beautiful article that presents the saga, brilliantly and beautifully.


The full story of Thailand’s extraordinary cave rescue
https://www.bbc.com/news/world-asia-44791998


And for those who prefer video over reading, here’s CNN’s coverage

The miraculous story of the Thai cave rescue
CNN