- This is our last episode for 2020.
- Our topic is gratitude and ambition and FIRE
Gratitude and Ambition
- Gratitude is feeling thankful for what you have and not constantly seeking more.
- When it comes to FIRE, gratitude can help control spending
- People who practice gratitude are more comfortable with delayed gratification
- Delaying gratification also helps set and work towards goals
- Ted practices gratitude by using a tiny habit which has 3 triggers:
- Getting up in the morning
- Daily run
- Before going to sleep
- Habits feed into a bigger lifestyle picture of living gratefully
- People who are materialistic tend to be more dissatisfied with their lives, have low self-esteem, less concern with others, are less satisfied with their standard of living, feel their lives lack meaning and exhibit higher levels of depression.
- People who practice gratitude are less materialistic.
- One thing to be aware of is that practicing gratitude is not an excuse to not try to do better.
- Being ambitious ties to having a growth mindset. This is important because pursuing FI isn’t only about controlling spending. It’s also about expanding your income. That’s where ambition comes into play.
- People who are pursuing FIRE are ambitious by definition.
- It’s important to not let ambition take over and lead you to lifestyle inflation.
- It’s never too late to pursue FI and gratitude.
- Special thanks to Joe Casey from Retirement Wisdom for sharing research on gratitude.
- Here’s a link to Joe’s podcast on gratitude featuring Kristi Nelson: Are You Living Gratefully?
- Kristi Nelson was diagnosed with Stage IV cancer when she was 33 years old. In the 27 years since, she has lived into all that is possible when we take nothing for granted. She is the author of Wake Up Grateful.
- Gratefulness.org is a global organization offering online and community-based educational programs and practices.
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