Shane Parrish

For a lot of people, their goal is passive income in order to fund their expenses.

Talk to me about what that is and if that's a good goal or not on the spectrum of sort of financial independence.

Where is that?

My kids have looked this up a lot in terms of how they think about money and they're exploring their little ventures.

In elementary school, they start talking about it and it continues in middle school and stuff.

And one of the things I've tried to tell them is every form of passive income that somebody has was once active income.

Do you have a framework that you use for making the big decisions in life?

You've talked about sort of switching houses.

And I know you did that a couple of years ago.

You also moved from D.C.

to Seattle.

Yeah.

How do you like walk me through your framework for?

This is the one question I probably get more than any other question when I'm giving talks is sort of the relationship between your emotions and your instincts and rational and where we should be on that spectrum.

And the example I always use is sort of chess.

And so chess is not a perfect analogy, but it works in this case, which is the grandmasters have an instinctual move in their head.

they can't explain right 99.9 of the time that's the move they make and then why do they take all this time before they make a turn well because they're checking they're verifying that their instinct is correct and i think so much of life is that and daniel condom would agree right it's just slow down your intuitive brain doesn't mean override it doesn't mean ignore it let it inform your decision not make your decision yeah and i also like the idea of like you got to be very careful with decisions that are irreversible

And also not everything on that list is equally weighted.

What advice do you have for somebody living paycheck to paycheck?

I think go deeper on this sort of the expectations minus what you have.