Clicky

Search:

Living the Rich Life … Well Below Your Means

August 12, 2017 by  
Filed under blog

In last week’s blog, I said that multi-millionaires are risk takers and, sure, sometimes those risks don’t work out but with enough time, determination, and a good game plan, taking risks do pay off.

Viewing multi-millionaires from a distance you might not realize that most of these people also have a “lack of attachment to spending”, especially on their way up the financial ladder. But even after arriving at the multi-million dollar status, they still tend to live below their means. This is because they still pay close attention to their spending; it’s a habit they formed when they were poor and working on climbing that money ladder.

This trait jumped out at me just a few days ago while planning a trip to Europe.  I got on line to buy two first class tickets to Paris and, on my first search, saw that prices ranged from $8,000 to $11,000 for each round-trip ticket. Even though I could easily afford those kind of prices, I just couldn’t stop there.  I spent another 20 or 30 minutes looking at different route’s, dates and airlines and those minutes paid off big time.  I found a $2500 ticket for a nonstop flight to London, knowing that we could catch a ride on the great Euro star train which only takes 2 hours and 15 minutes to get to Paris. The only minor problem was that we prefer to fly on Delta airlines since we get a lot of free miles and our million-mile status gives us all kinds of benefits and privileges.

I told my wife and she told me to wait a few minutes because she was checking a few different dates for Delta and sure enough within 5 or 10 minutes she found a round trip, first class flight on Delta into London for $2600 dollars—for another $100 it was well worth it to us and we quickly booked our 2 tickets.

Like I said, I could easily afford the higher price but I would much rather use the savings to buy more properties or even make more donations to my favorite charities.  Maybe if I were a multi billionaire I would just not bother shopping around and would pay the much higher price.  But then I look at someone like Warren Buffet and even with his $75 billion, he lives far below his means, still residing in a very modest house that he’s been in since 1958.  He very much has that great “lack of attachment to spending” trait and knows how to live below his means!  We all need to learn a lesson from him and yes, pass it on to your kids and friends and anyone who wants to make it big and stay there.

A little P.S. here … that Euro star train ride is fantastic! It’s smooth, quiet, and travels at 200 miles an hour, straight from downtown London to downtown Paris. I love that wonderful and very scenic ride! You should make your own plans to take Euro Star and visit Europe in the not so distant future.

A Journey Takes Unexpected Turns

October 14, 2008 by  
Filed under blog

Passion, like life, is about journeys not arriving. Kimberly and I have been planning a trip to Europe for a year. This was a goal of ours. You see the brain craves the new, the unfamiliar. Living in the moment also stimulates the mind. Of course it’s easy to live in the moment when you’re in Paris.

Another way is to experience something familiar through someone else’s eyes. We took our good friends  Frantoise and Stein Eriksen (who is now in his eighties and has a Wikipedia page) with us. We’d been to some of the places before, but they came alive again when we showed them. Our brain loves new experiences.

Everywhere we went I asked people what there passion level was. We visited a farm of a cheese maker in Switzerland. We stayed at the Palace Hotel in Gstaad Switzerland which had unbelievable scenery and impeccable service. I got to introduce the Eriksen’s to an Australian tennis champ. We were in Germany for Octoberfest (I’ll put up some video of the trip).

Swiss Cheesmaker with Kimberly

The most exhilarating part of the journey though started with a train ride that had some curve balls. Getting on the train and going from Zurich to Croatia there was no one was there to greet us. We had a tough time finding a cab to make it to the ship. We finally found a cab and arrived an hour late. Luckily, they waited for us.

Once we got onto the ship we realized it was not like the spacious hotel with great service. It was tight quarters. The bathroom was so small you could hardly change your mind, let alone change a shirt in it. The shower was a spout hooked up to the bathroom sink. You turned it on and sprayed yourself, along with the rest of the room.

The week long ship ride was full of adventure. There were people from all different nationalities speaking different languages. We stopped on islands of all sizes. We bicycled 30-40 kilometers. One island was so small that license plates weren’t necessary – everyone knew everyone else. With only a few hundred people, there were maybe 25 cars.

Tiny Croatian Island

Then there were high winds – so high that the buses couldn’t run because they might blow over. So rented an expensive taxi, and headed back to make our flight home – which we barely made.

While we loved the more predictable parts of the trip, our real passion was in the unexpected – the missed rides, the cramped ship, the collage of cultures, and even the storm.

Do you fears prevent you from traveling (literally or figuratively) because you’re afraid to try something new? Sometimes people are so comfortable it scares them to do something different. Yet when they go ahead they look back that is what stands out, it’s what they talk about.

Stein Eriksen, Roy Emerson, Mark HaroldsonMixing things up, trying the new, seeing something through another’s eyes, being open to adventure. This is how you create passion.