10 Ways to Ruin your Life
Charlie Munger is an American businessman, investor, and philanthropist who is best known for his long-term partnership with Warren Buffett. Having just reached his 99th birthday he is perhaps even an example that is the true fountain of youth is prudent financial decisions.
Famous for his dry wit and cutting insights he has spoken about a technique which can best be described as - ‘The power of not making stupid decisions.’ This technique involves considering the opposite of what you are wanting to achieve. Effectively reverse engineering the right decision.
It’s a surprisingly good tactic. We as humans were programmed to survive, which lends itself to us finding it easier to identify risks. Effectively using loss aversion to your advantage.
With that in mind, with a bit of a tongue-in-cheek post, here are 10 ways in different areas of your life you can go out and ruin your life!
10 Ways to Ruin your Finances 💷
1️⃣ Constantly change as much as possible. 🏃♂️
Portfolios need to be regularly switched from asset classes and fund managers otherwise they go stale. Tune into finance journalists and take guidance from ‘best buy lists’ at all times.
2️⃣ Act on market news. 🚨
If you get in quick you can profit on this news before anyone else realises.
3️⃣ Listen carefully to people with no money. 💰
They often have good advice on why things are worse than expected.
4️⃣ Start tomorrow. 🕰
You will be able to save more tomorrow, when you are feeling better.
5️⃣ Read LOTS of book - then do nothing. 📖
Trust me, book number 43 is going to be a game-changer.
6️⃣ Favour complex investments that are difficult to understand. 🤔
Your friend with no money will be really impressed when you tell them about the 300% ROI you were promised.
7️⃣ View getting any professional advice as an unnecessary cost, not an investment. 👩⚖️
File your own complex tax affairs. In legal matters, represent yourself at all times. Build you own financial plans, look to critically evaluate all your own decisions and be your own financial adviser
8️⃣ Always live for right now!
You could die at any time and due to that, all your money needs to be spent immediately.
9️⃣ Equate volatility with risk
Have all your money in cash so it is available at all times. It’s safer that way. Better yet, keep it under your mattress. View all who invest as gamblers.
🔟 Take no accountability
You weren’t taught about finances when you were young. You can’t possibly learn now. It’s too late.
10 Ways to Ruin your Business Life 📊
1️⃣ Try help the biggest market possible 📈
The wider you spread your net, the better chance you have of success.
2️⃣ Stop improving 🧗♂️
Your competition is way behind. You have plenty of time.
3️⃣ Ignore secular trends ⏳
Everything will remain the same going forward, there is no need to adapt.
4️⃣ Fail once, then quit ❌
You gave it your best shot. It’s clear you are not cut out for it.
5️⃣ Tolerate bad performance 🙈
This will not spread to other areas and it will figure itself out.
6️⃣ Avoid difficult decisions 👀
Try to forget things that feel hard and make sure you procrastinate in other areas.
7️⃣ Remain busy on unimportant things👩💻
All time spent is equal. As long as you are turning up, you are doing well.
8️⃣ Focus on revenue and ignore profit 🤑
Revenue is a bigger number and it’s more fun to concentrate on the bigger number.
9️⃣ Stop doing what works well
You need to try new things with no track record and ignore your main revenue sources.
🔟 Think you can go it alone in all areas 🏝
You are an island, you do not need any help to develop.
10 Ways to Ruin your Relationships 🫶
1️⃣ Don’t talk when something is wrong 🗣
It’s their job to figure it out. They should understand this.
2️⃣ Never give any ground ✋
They will admire you resilience.
3️⃣ Be vague about your problems 🤷♂️
If they can’t figure them out, maybe they’re not the right person.
4️⃣ Be quick to criticise their behaviour 😤
How else will they learn?
5️⃣ Never provide support 😏
You’re not in this to carry passengers.
6️⃣ Choose a partner who has different values in as many areas as possible 💸
This will not create unmanageable tension on things going forward.
7️⃣ Think mainly about yourself 🤨
It is quicker and easier to do this.
8️⃣ Don’t tell the truth 🫥
They will love the mystery this creates around your character.
9️⃣ Ideally have nothing in common 👥
This will make it easier to have more time to yourself.
🔟 Hold a negative outlook on life
They will find your endless pessimism endearing.
10 Ways to Ruin your Mental Health 😨
1️⃣ Compare yourself to everyone 🙇♂️
You are the best in every area. This will not make you feel inadequate.
2️⃣ Believe that life is fair ⚖️
Life always makes sense and owes you an easy ride. When that doesn’t happen - take it personally.
3️⃣ Think everyone else is looking at you 🫣
They have little else on and have been waiting for your next move. Make sure it counts.
4️⃣ Expect perfection from the outset 💯
If it’s not brilliant when you start, then it’s a waste of time. Everyone else managed perfection, so why can’t you?
5️⃣ Interpret failure as a personal failing 😑
Everything you do that doesn’t go to plan was a direct consequence on your own actions. You cannot learn from this and be better.
6️⃣ Give up on things easily 🫳
It will make you feel better once you accept it was too hard.
7️⃣ Complain loudly and often 🔈
It’s good to reinforce your views and people will warm to you world view.
8️⃣ Define success specifically through things you can’t control 🎛
This will make your journey more fun and varied.
9️⃣ Be unforgiving to personal failures 😵
You are the only person who has ever made a mistake. This makes you a bad person and incompetent. Nothing will ever change that.
🔟 Eat badly, don’t exercise and take no breaks 🍔
Your mind is a fortress and these things don’t matter.
