2015 wrote: ↑
Fri Sep 22, 2017 12:11 pm
Actually, you weren't too far off the mark, my life is
my project, precisely because there is so much more at stake now. We are at a particular time in history where all legacy forms of power are dissolving, giving rise to unprecedented collective and personal uncertainty with what can be dire consequences. We have moved from a linear world, where cause and effect were much more interrelated, to a world of complex systems and even nests of systems, where cause and effect are disconnected, where we can never take just one action, because those actions reside in systems with consequences and unintended consequences that we are not able to see. In such a complex adaptive world, much of our thinking, our conclusions, and our decision-making, in the most important areas of our lives can be almost delusional (see Hour Between Man and Wolf, for example). We are in an Age of Creative Destruction and
Construction (with profound implications on our personal lives), an Age of Unending Turbulence, and an Age of Attention, Emotion, and Experience. Globally, we are in a winner takes all economy, society, and lifestyle, with fierce ramifications on a personal level. To meet this challenge, I believe it's imperative to create a system for regularly updating our thinking and for optimizing decision-making. To do this successfully, we must develop systems for taking in only the most relevant
information, the most critical
I have several tools which I use to strain noise
. First, having studied in-depth the concept of Simplicity in a variety of disciplines, I view with a jaundiced eye all Complexity threads, blog/podcast posts, links, publications, interviews, prognostications, studies, books, etc. (particularly those that violate behavioral economics mental models). I scan such information only insofar as it may benefit combating my own confirmation/commitment/overconfidence bias.
Second, having created my own "investment niche" (your fantastic term), I strain for information that will either refute my decisions or perhaps enhance them (i.e., my recent discovery of VPW).
Third, I have a rather elaborate library of book marks, all covering several areas in life for which I have goals. These goals could be anything from retirement relocation, Medicare, ACA reform, to TLH. Whenever I come across a link, post, or thread which contains knowledge I want to retain in a given area, I bookmark it in the appropriate folder. For example, I have yet to engage in TLH, but I read all of the posts in the several threads, and created subfolders on areas such as wash sales, fund tax partners, etc. So as not to annoy people and ask a TLH question that's been asked 500 times before, when it comes time to engage in TLH, I'll simply review my TLH bookmarks.
Finally, I constantly surf the information waters regarding macro
influences on my life in the following broad but important areas: (1) business (but only as it pertains to developments that will have a micro impact on my goals or life, e.g., the Equifax breach), (2) politics (only
as it relates to tax/social security/medicare/other regulatory reform), (3) the economy, (4) technological trends, (5) society (excludes anything to do with pop culture and social media, and includes areas such as income inequality, current job market disruption/transformation, health matters ((e.g., obesity, opiate, and other sociological trends), (6) trends in general, and (7) innovation (includes everything to do with innovative thinking).[/color]
This is why I am really liking Taylor Pearson's template. This past week, as part of my Q3 review, I have modified it to suit my own needs and goals even more. I will say it has helped me greatly to not only monitor my progress towards specific qualitative and quantitative goals, but to stay on track as well. I was thinking this morning I can see even clearer now how the more I use this tool the more it really helps me stay on track to funnel all of my activities into my Wildly Important Idea of creating a (financially, emotionally, and psychologically) Successful Retirement.