Steven

Because if you are a billionaire, if you have a billion dollars in the bank, but you are so encumbered by your business, your employees, your suppliers, your customers, you're waking up at three in the morning sweating because you got this email and you're stressed out about it, you actually have very little independence in that situation. Your shareholders or regulators are coming down on you.

Because if you are a billionaire, if you have a billion dollars in the bank, but you are so encumbered by your business, your employees, your suppliers, your customers, you're waking up at three in the morning sweating because you got this email and you're stressed out about it, you actually have very little independence in that situation. Your shareholders or regulators are coming down on you.

I mean, we see this. There's no one in particular here, but we've seen very wealthy people kind of become sycophants to politicians. And the truth is a lot of those mega billionaires absolutely rely on politicians and regulators to keep their machine moving. And so my grandmother-in-law on $1,700 a month had a higher level of independence than a lot of those people do.

I mean, we see this. There's no one in particular here, but we've seen very wealthy people kind of become sycophants to politicians. And the truth is a lot of those mega billionaires absolutely rely on politicians and regulators to keep their machine moving. And so my grandmother-in-law on $1,700 a month had a higher level of independence than a lot of those people do.

And that's why I say like a lot of this is a mindset because the truth is the vast majority of people listening to this could have a level of independence. It's not that you can retire tomorrow, but you can have a level of financial independence once you realize that the key is managing your expectations. More than it is how can I just pile up as much money as I possibly can.

And that's why I say like a lot of this is a mindset because the truth is the vast majority of people listening to this could have a level of independence. It's not that you can retire tomorrow, but you can have a level of financial independence once you realize that the key is managing your expectations. More than it is how can I just pile up as much money as I possibly can.

It's easy to think, like, how do you become financially independent? Like, save a ton of money. And there's truth to that. Of course, that's part of it. But more of it is just in, like, what kind of life do you want to live? Because if your expectations are growing faster than your net worth, it's never going to feel like it. You'll never be independent. Never.

It's easy to think, like, how do you become financially independent? Like, save a ton of money. And there's truth to that. Of course, that's part of it. But more of it is just in, like, what kind of life do you want to live? Because if your expectations are growing faster than your net worth, it's never going to feel like it. You'll never be independent. Never.

You have $100 billion, but if you want more and more and more, it's never gonna feel like it's enough. Or if you enjoy birdwatching and reading books like my grandmother-in-law, 7,800 bucks a month, you're all set. You're set for 30 years.

You have $100 billion, but if you want more and more and more, it's never gonna feel like it's enough. Or if you enjoy birdwatching and reading books like my grandmother-in-law, 7,800 bucks a month, you're all set. You're set for 30 years.

You're rich.

You're rich.

She was psychologically rich, even if she was financially poor. And I think that's the biggest thing about it. Adam Smith, who was the greatest economist to ever live, this was 300 years ago, he once wrote about this. He was like, why do people work so hard? And he was just like, that's a simple question, but why do people work so damn hard?

She was psychologically rich, even if she was financially poor. And I think that's the biggest thing about it. Adam Smith, who was the greatest economist to ever live, this was 300 years ago, he once wrote about this. He was like, why do people work so hard? And he was just like, that's a simple question, but why do people work so damn hard?

And he's like, it can't just be for our sustenance because even poor people, as he was writing about it, had homes and adequate food most of the time. He's like, there has to be something else. And what that something else was, he wrote, was to be seen by other people. And it was attention and admiration.

And he's like, it can't just be for our sustenance because even poor people, as he was writing about it, had homes and adequate food most of the time. He's like, there has to be something else. And what that something else was, he wrote, was to be seen by other people. And it was attention and admiration.

They wanted to be getting rich so that they could have a bigger house and a nice car, not in his day, but they wanted attention from other people. But he was like, it's not that you needed the money. Because even in his day, 300 years ago, in Scotland, I think he was, he was like, look, people have homes and food. Like, what are they doing this for? And he was not criticizing them.

They wanted to be getting rich so that they could have a bigger house and a nice car, not in his day, but they wanted attention from other people. But he was like, it's not that you needed the money. Because even in his day, 300 years ago, in Scotland, I think he was, he was like, look, people have homes and food. Like, what are they doing this for? And he was not criticizing them.

Like, his whole point was like, they're going out and innovating. They're going to have great technology. And it's great to go do that. But the reason to do it was not because they had to stop. Now, of course, most people to get shelter and food do have to keep working. But they're working more than they absolutely need to because they want something else besides independence.

Like, his whole point was like, they're going out and innovating. They're going to have great technology. And it's great to go do that. But the reason to do it was not because they had to stop. Now, of course, most people to get shelter and food do have to keep working. But they're working more than they absolutely need to because they want something else besides independence.