Comments on: April 3 = Call Your Ass Out day

By: Preet

Preet — Thu, 09 Aug 2007 05:13:26 +0000

How in the world you put everything so nicely? Its easy to understand, sticks around in your head, inspiring and entertaining. Bravo! I like your post. Your post reiterated my belief in some of the steps that i am taking…how will i look back at the choices that i make now – 10 years from now?

By: Wilson

Wilson — Thu, 06 Apr 2006 06:34:58 +0000

Mmmm.. makeover. Yes. The masses yearn for it! Hehe.

Great reminder, Ramit. I agree with Kim that setting daily/weekly goals makes everything more streamlined, that way you don’t have chunks.

Someone recently reminded me that a great way to accomplish any goal is to work backwards from it. This is a trading example (it was on a trading forum), but for example, to hit the $1MM (1 million) mark in say 5 years, you would first break it down to how much you’d need to make a year (1MM/5 = 200k) and then monthly: (200k/12 = 16.67k a month), then weekly: (16.67k/4.5 weeks a month = $3703). So you’d have to consistently make about $3700 a week to achieve the 1MM in 5 years.. now how much trading capital would that take, how you would acquire that capital, what types of trades you would do, risk, etc.

Anyway, more make-over imo.

By: Mike

Mike — Thu, 06 Apr 2006 03:02:57 +0000

does this mean we may actually see you finish the new years finacial make-over piece? Still waiting to read about the mutual funds.

By: Jerimi / UVTV

Jerimi / UVTV — Tue, 04 Apr 2006 18:12:52 +0000

I like this one in particular….best point…ever.

“Have you felt some pain (rejection, time at the library doing research, etc) because you were learning, rather than staying in your comfort zone? “

By: Kiran

Kiran — Tue, 04 Apr 2006 16:14:50 +0000

“But you know that old thing, live fast, die young? Not my way. Live fast, sure, live too bloody fast sometimes, but die young? Die old. That’s the way- not orthodox, I don’t live by “the rules” you know.”
-David Brent, BBC’s The Office

This post is a good reminder to all. I know I’ve become more cognizant of personal finance this year and now understand the real reasons many people live paycheck to paycheck. By the way Ramit, post the next step in the financial makeover when you get a chance.

By: Ben Casnocha

Ben Casnocha — Tue, 04 Apr 2006 06:01:29 +0000

I agree, in part. But if you always think about what your 10 year elder self will think, you are never living in the present. Living in the future tense sometimes calls for different actions, and sometimes they’re not healthy ones. After all, you may not be around in 10 years to reap benefits or feel satisified!

By: The Dividend Guy

The Dividend Guy — Tue, 04 Apr 2006 05:03:11 +0000

Thanks for the kick in the a$$. 25% over, already. Time flies when you are making money.

By: Scott Young

Scott Young — Mon, 03 Apr 2006 23:45:43 +0000

Good points!

A ships is safe in the harbour,
but that’s not what ships are for.

By: Kim

Kim — Mon, 03 Apr 2006 22:44:05 +0000

I’m one for setting weekly and monthly goals.
It prevents exactly this.
The year being 25% over and not having accomplished anything.
However, there’s still time, people, to have a glorious and event filled year!

By: Al Abut

Al Abut — Mon, 03 Apr 2006 22:20:56 +0000

Wow, that's crazy, I just wrote up a blog post to review my new year's resolutions and explain how your personal finance makeover series fits into it. Literally within minutes of each other. While I was flipping back and forth to your site to check the links, you published a retrospective also!
I've been toying with the idea lately of doing a quarterly review of all of my life goals, not just finance, and basically treating myself as an important "Me, Inc." entity instead of just "Al the web dude".