| Real Life Strategies for Building Wealth

I’ve always believed in the power of pushing myself outside my comfort zone.

Remember that I’m Cho Dan, Soo Bahk Do practitioner? (Well, practice has been a bit sporadic lately but I do have a black belt in Korean karate.). Spending two weeks in South Korea training, and sleeping on the floor, was a transformative experience for me.

More recently, I went horse riding (and I’m truly terrified of horses).

Today I went to a traditional Finish sauna in Tampere.

This involves sitting in a very hot sauna and when you simply cannot take anymore you go out and dip in the lake. My friend does this in the winter when you have to cut a hole in the ice.

Now the lake water is warm, they kept telling me; it is 15C. Frankly, for a Southern European wimp like me this was heart stopping cold – still did it! Four times.

Now feeling tired and mellow from the sauna and very proud for pushing the boundaries of my life again.

AHA of the week

What I find particularly interesting when it comes to money is that many a time the right thing to do is counter-intuitive.

For instance, I always thought that the logical thing to do when investing is to take a bit more risk at the early stages. Why?

Because, if you win your investments build faster; and if you lose, you don’t lose enough.

Apparently, I am wrong about this one. So, here come the AHA of the week:

When you start investing take small risks because you can be wiped out faster. Increase risk with growth.

Frankly, I didn’t see this coming but thinking about it…makes sense.

What am I reading?

This week I have been reading the story of the Witch of Wall Street: Hetty Green. The book is called ‘Hetty: The Genius and Madness of America’s First Female Tycoon’ by Charles Slack.

Very interesting. We need to hear about more women in the finance industry.

Where have I been?

[Thought that this bird nesting on the streets of Tampere, and people going out of their way to make it feel safe, is a good way to present to you this part of Finland.]

Last week I did some teaching on a short course. It was about evaluating organisations – interesting but not much aligned with the core interest of this blog.

Now I’m writing from Tampere in Finland. Tampere is also known as the Finish Manchester because of its cotton industry (in the past). Another claim to fame is that Lenin spent some time here before he went back to Russia (funded by Germany) to make revolution.

I’m here on academic business.

My favourite blog posts of the week

And here are my favourite blog posts of the week (these are not all about money, mind):

This is all for now, friends. Speak soon.

How has your weekend been? Did you do anything interesting?