The Rules to Life
Maybe it’s my age or maybe it is that I’m finally achieving a level of maturity, that I am looking at my life and my decisions in narrator mode. What I mean by that, is that, for the first time in quite some time, I’m not making decisions for the short term, not even the mid-term, but truly considering the long term (15+ years). And, it’s not only financial decisions but decisions that will affect my mind, body, spirit, relationships, and community.
Over the first five months, I have come across several “rules to live life” . They are from several individuals; experts in their respective fields. Each with their own view on how to live a meaningful and impactful life.
Through that search, I have compiled several ‘rules’ to live a good life, which I will outline (and provide resources) for you to explore on your own.
Despite not being directly related to finances, I strongly believe that money without having passions, relationships, and family to spend on it, is worthless.
I have these lists posted to a bulletin board in my office to serve as a constant reminder to stay focused, on track, and committed to achieving a fulfilled life.
Updated Version
Rule 1: Your Worth is Not Your Net Worth This is the most fundamental rule, and it's one we often lose sight of. We are surrounded by a culture that equates success with material possessions, a bigger house, a fancier car. But as healthcare professionals, we know that true value lies in purpose, connection, and contribution. A life well-lived is not about the size of your bank account, but about the size of your impact.
Rule 2: Return on Time (ROT) is the Most Valuable Metric: We’ve talked about this before, but it's worth revisiting. Your most precious and non-renewable asset isn’t money; it's your time. The concept of Return on Time (ROT) is simple: it’s the value you get for every hour you spend on something. A high ROT means you’re working smarter, not harder, and building a life on your own terms. A low ROT means you’re stuck in a cycle of trading hours for dollars.
Rule 3: You Are the CEO of Your Life As healthcare professionals, we are often conditioned to be employees. We follow the rules, we do our jobs, and we collect a paycheck. But to live a life of purpose, you have to be the CEO of your own life. You have to set the vision, make the strategic decisions, and take ownership of your outcomes. This means taking control of your finances, your career, and your time.
Rule 4: The Best Investment is in Yourself We spend years and thousands of dollars on formal education, but the learning shouldn't stop there. The best investment you can make is in yourself. This includes investing in your skills, your knowledge, and your personal growth. The more you invest in yourself, the more you can contribute to the world and the more fulfilled you will be.
Rule 5: Embrace Failure as a Learning Tool Failure is not the opposite of success; it's a part of it. We are so afraid of making mistakes that we often don't take risks. But some of the most valuable lessons I've learned have come from my biggest failures. It's time to reframe failure as a learning opportunity, a stepping stone to growth.
Rule 6: Define Your "Enough" We live in a society of more, more, more. We are constantly chasing the next thing, the next milestone. But to live a life of purpose, you have to define your "enough." What is enough money to live comfortably? What is enough time for your family and friends? What is enough freedom to pursue your passions? Defining your "enough" is the first step to living a life of true contentment.
Rule 7: Build Your Financial Fortress Your financial life should be a fortress, not a house of cards. This means building a strong foundation with an emergency fund, a diversified investment portfolio, and a clear financial plan. A strong financial foundation gives you the freedom to take risks, pursue your passions, and live a life without fear.
Rule 8: Your Legacy is Not Your Bank Account Your legacy is the impact you have on the world. It's the lives you touch, the people you inspire, the good you put out into the world. It’s time to start thinking about your legacy, not in terms of how much money you leave behind, but in terms of the difference you make while you're here.
Rule 9: Don't Just Work. Live. We are so focused on work that we often forget to live. But to live a life of purpose, you have to make time for the things that bring you joy. This includes your family, your friends, your hobbies, and your passions. Your work should support your life, not consume it.
Rule 10: Give Generously Giving is not just about money; it's about time, energy, and resources. Giving generously is one of the most powerful ways to find purpose and fulfillment. It's a reminder that we are all connected and that we have a responsibility to contribute to the greater good.
Michael Saylor’s 10 Rules to Life- This list is the most recent one I reviewed. Not only is Michael an OG Bitcoiner, but he is also someone I want to emulate.
1. Focus your Energy “The Things I regret in my life are all the good ideas I pursued, to the detriment to my great idea”
2. Guard your Time
3. Train your Mind “Learn language, how to speak, and problem solving skills”
4. Train your Body
5. Think for Yourself “Assume everything is distorted and it is your job to get to your version of the truth’
6. Curate your Friends “There are 8 billion people on the planet, you can find three that will work well with you”
7. Curate your Environment “Choose where, and how you will live: it will impact your mental and physical health”
8. Keep your Promises “The one thing people will remember from you is your credibility”
9. Stay Cheerful & Constructive
10. Upgrade the World- “Figure out a way to upgrade the world”
Bonnie Ware “ Top Five Regrets of Dying” - Bonnie Interviewed individuals on their deathbeds and asked them about the deepest regrets of their life. When I read this list, my outlook completely I wish I'd had the courage to live a life true to myself, not the life others expected of me. "This was the most common regret of all. When people realize that their life is almost over and look back clearly on it, it is easy to see how many dreams have gone unfulfilled. Most people had not honoured even half of their dreams and had to die knowing that it was due to choices they had made, or not made. Health brings a freedom very few realize, until they no longer have it."
I wish I hadn't worked so hard. "This came from every male patient that I nursed. They missed their children's youth and their partner's companionship. Women also spoke of this regret, but as most were from an older generation, many of the female patients had not been breadwinners. All of the men I nursed deeply regretted spending so much of their lives on the treadmill of a work existence."
I wish I'd had the courage to express my feelings. “Many people suppressed their feelings in order to keep peace with others. As a result, they settled for a mediocre existence and never became who they were truly capable of becoming. Many developed illnesses relating to the bitterness and resentment they carried as a result."
I wish I had stayed in touch with my friends. "Often they would not truly realize the full benefits of old friends until their dying weeks and it was not always possible to track them down. Many had become so caught up in their own lives that they had let golden friendships slip by over the years. There were many deep regrets about not giving friendships the time and effort that they deserved. Everyone misses their friends when they are dying."
I wish that I had let myself be happier. "This is a surprisingly common one. Many did not realize until the end that happiness is a choice. They had stayed stuck in old patterns and habits. The so-called 'comfort' of familiarity overflowed into their emotions, as well as their physical lives. Fear of change had them pretending to others, and to their selves, that they were content, when deep within, they longed to laugh properly and have silliness in their life again."
Investing Rules For New Investors: According to The Market Hustle
Do not start investing until you have an emergency fund. So that you'll never be forced to sell your stocks
Avoid speculation & hype. It's very easy to fall for the "get rich quick" or "the financial system is ending" narratives as a new investor. Stay away from both extremes. If you are investing based on fear or greed, it likely won't end well.
Start with Index Funds first. And then test out stock picking later with 10% of your portfolio. If you find out you're a good stock picker over a few years with just 10% of your portfolio, you can increase your portfolio more towards individual stocks and away from Index Funds. But ~90% of people will fail to beat Index Funds over 5-10 year period.
Good investing is very very boring. The big money is made by holding great assets over long periods of time.
The best investors buy MORE stocks when the stock market is on sale. Not run away from the sale.
There's a huge difference between trading and investing. Make sure you know the difference before starting.
90% of investing is a psychology game. NOT an IQ game. Controlling your emotions and impulses is probably the hardest part of investing.
Nobody. And I mean nobody. Knows with 100% certainty what the stock market is going to do in the short run. Timing the market is a lot easier said than done.
Never invest into anything you don't FULLY understand. If you can't explain what you are investing in to a 5 year old, you don't fully understand it.
We aren't investing to win arguments. We are investing to make money. It's easy to find people who agree with what you think (confirmation bias). But the best investors try and understand different perspectives in order to make better investing decisions.
From my favourite book: How to Win Friends and Influence People. This list cannot be understated on how it has helped me forge and maintain strong, rich and fulfilling connections. They may seem basic and elementary, but it is truly the little things in life that move the needle.
Don’t criticize, condemn or complain.
Give honest and sincere appreciation.
Arouse in the other person an eager want.
Become genuinely interested in other people.
Smile.
Remember that a person’s name is to that person the sweetest and most important sound in any language.
Be a good listener. Encourage others to talk about themselves.
Talk in terms of the other person’s interests.
Make the other person feel important – and do it sincerely.
The only way to get the best of an argument is to avoid it.
Show respect for the other person’s opinions. Never say, “You’re wrong.”
If you are wrong, admit it quickly and emphatically.
Begin in a friendly way.
Get the other person saying “yes, yes” immediately.
Let the other person do a great deal of the talking.
Let the other person feel that the idea is his or hers.
Try honestly to see things from the other person’s point of view.
How to Win Friends and Influence people has made it on my ‘16 Most Influential Reads’ list. You can grab your free copy of the list, here
