Monthly Archives: May 2016

What Endurance Athletics Has Taught Me

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Most people want to get in shape in a fraction of the time it took them to get out of shape. A vast majority also want to win the lottery and fall in love over night.

The key to success in endurance athletics is building strength, stamina, and mental toughness over time. The key is taking the long view towards incremental improvement, week-to-week, month-to-month, year-to-year. Am I stronger, fitter, more confident this week, month, year? I’ll never be strong, fit, and confident enough. When most successful, there’s positive momentum, movement along the continuum. Positive momentum requires waking up and getting out the door, even when I don’t feel like it. Especially when I don’t feel like it.

How to create positive personal finance momentum? The key is incremental improvement which results from saving more than I spend month-to-month, year-to-year, and then investing in passive index funds month-to-month, year-to-year. Building the strength, stamina, and mental toughness to hold on for five, ten, fifteen years. Rebalancing on occasion.

How to be a better human being? By being a more active, patient listener this week, this month, this year. By being a little more friendly to others, more empathetic, more curious, more understanding.

It’s much easier to write about the long view and incremental improvement than it is to apply it consistently. In some important ways—including as an endurance athlete, as a blogger, and as a close friend—I’m lacking positive momentum right now. This is the point in the post where I wish I had an inspiring insight to close with.

Postscript: Alexi has momentum in her life.

 

 

Going Against Type

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It’s human nature to extrapolate what we know about one another to predict the future. More simply, thanks to our pea brains, we put people in boxes. Case in point, my “friends” love nothing more than making fun of me for my sometimes frugal ways.

Truth be told though, I can open my wallet wide open, it’s just that it takes me a lot longer than the average person to be convinced of something’s value. In the last 18 months I’ve cracked the wallet wide open at least four times. From most to least expensive:

• New crib. Hard to express how fortunate I feel to have been able to make this purchase, the largest of our lives. I looked at enough waterfront properties in Olympia over the last several years to know the agreed upon price represented excellent value. We won’t make money on it because of real estate commissions and a 1.78% excise tax, but we won’t lose any either.

• New car. 2015 Acura TLX. It would be nice if I lived close enough to work to walk, run, or cycle. And close enough to everything else to ZipCar. But the crib is 4-5 miles from civilization and work is 30 miles. Amazing vehicle, no regrets, 90-95% as nice as luxury cars twice as expensive. The linked Edmunds review summary is a joke, my last tank, almost exclusively highway, I got 39.3 mpg. At that rate I can push 600 miles before finding a Costco gas station. I’ve averaged 35-36 from beginning. Perfectly quiet; excellent acceleration if you switch from “eco” to “normal”; buttery, Barbara Streisand-like smooth. Only blemish is a tech glitch. Occasionally, brake warning alert flashes on at random times. Last software update didn’t fix that. And since Dan is wondering, yes, a lot of women check me out while driving my new ride, but that’s been true since the first VW Bug beater, so can’t really credit Acura for that.

• 27″ iMac Retina. Three days old. Just read this article on it. Wowza, like being in Kenya. Never thought I’d own another desktop, but probably shouldn’t put myself in a box. Dig it.

• Last, but not least, this bad boy. The new crib sits amidst a lot of large trees. The wind blows most afternoons. This thing is total kick ass. One of my fav purchases in a long time.

So to my friends, put that list of purchases in your collective pipe and smoke it!

 

 

 

Higher Cost Education

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Maybe we should begin inserting “cost” in between “higher” and “education” as a continual reminder of the increasing challenge paying for college poses.

On Lutheran university campuses there’s frequent talk of vocation which Frederick Buechner described this way, “Your vocation in life is where your greatest joy meets the world’s greatest need.” During a “vocation” conversation last week, I listened to a colleague talk earnestly about the role discernment plays in determining one’s vocation. To “discern” something is to develop spiritual direction and understanding.

The discernment reference was shortly after another colleague shared an anecdote about a recent grad who’d returned to say he was still trying to find a job that would enable him to pay his bills. And mostly likely, tens of thousands of dollars of student debt.

Prior to that a colleague said we talk too narrowly about diversity, limiting it mostly to race, meaning important differences between economic classes are slighted. Connecting the various dots, it dawned on me that our repeated talk of vocation and discernment is a byproduct of our privilege. Discernment implies multiple possibilities in life, when an increasing percentage of college grads, like my colleague’s former student, would be content with one job that pays a livable wage.

In the 20th century, a college degree created far more opportunities than it does in the 21st. I’m afraid some of my higher ed friends and I have lost touch with people’s day-to-day realities. Naively, we talk of great joy, great need, spiritual direction, and understanding; when what many of them want is enough money to make it to graduation and the confidence they’ll find decent enough work to meet their basic needs.

 

 

 

What I’ve Been Reading

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  1. Work email.
  2. The Secret Shame of Middle-Class Americans by Neal Gabler. Highly recommended. Gabler, a well educated widely published author, explains how he became one of the 47% of Americans who could not cover an unexpected $400 expense. A clear, compelling story, courageously told.
  3. All the Sad, Broke, Literary Men by Helaine Olin. This genre, the take-down of a person others admire, is on the rise. Which is unfortunate. It’s sad Olin can’t muster up any empathy for Gabler. Helaine, if you don’t have anything nice to say, . . .
  4. My wife’s emotions.
  5. The Voyeur’s Motel by Gay Talese. I’m about to share the tagline. Then you’re going to click on this link. In fact, it will probably be the only link you open. Why, because deep down you’re a voyeur too. Tagline, “Gerald Foos bought a hotel in order to watch his guests have sex. He saw a lot more than that.” Told you.
  6. The Secret History of Tiger Woods by Wright Thompson. Thompson deserves a Pulitzer for making me feel some empathy for TWoods.
  7. Thinking Beyond Money in Retirement by John Wasik. Nice insights.
  8. Work email.

Postscript: A reader texted in:

Read your blog post. I read that $400, 47% article earlier this week and thought it was pretty interesting. Buuuut even though one of my top 3 pet peeves is probably people gleefully and lazily taking other people down on the Internet without any effort toward critical empathy, I actually very much agreed with Helaine Olin’s article. She was a little callous up top, but I thought the article itself was pretty balanced – she commended his bravery for talking about something that is difficult to talk about (but it helped made less difficult when people step up to the plate and tell their stories, like he did) and gave him credit when she agreed with some of his other points but I also very much agree that his article was lacking in other ways and it was worthwhile of her to call him out in it. (Seriously, I couldn’t get over the emptying of the retirement fund for the daughter’s wedding.)

Okay, the “reader” was actually my eldest hija. I told her I stopped reading Olin’s article too early. Sorry Helaine for my knee-jerk rejection of your essay. Best part of this? It’s on record that eldest hija doesn’t support fathers’ paying for daughters’ weddings!!! Yes!!!