As a substitute of sharing the same old issues I am grateful for (well being, household, being Asian, and so forth.), I assumed I might share some uncommon issues I am grateful for this yr!

2023 was speculated to be a return to simple dwelling. Alas, I do not really feel very relaxed. The mixture of protecting Monetary Samurai going and being a dad is grinding me down.

By going by way of a listing of common issues to be pleased about, even when a lot of them are unhealthy, I hope to really feel extra appreciative of every thing. That is what this time of the yr is for!

I hope you’ll carry out this private train as properly.

5 Uncommon Issues I am Grateful For

Regardless of how disappointing some issues are, I at all times prefer to look on the brilliant facet of issues. So right here goes nothing.

1) Grateful for native authorities corruption

When you’ve got a $14+ billion annual San Francisco finances, it is exhausting to not have some corrupt officers. Cash and energy can convey out the worst in folks.

However let’s take a look at the brilliant facet of metropolis officers taking bribes. It means it is exhausting to get issues completed because of excessive requirements and tons of competitors. If getting issues completed within the metropolis had been simple, we is perhaps jeopardizing the well being and security of our denizens.

See: Former SF Public Works Director Will get Sentenced To 7 Years In Jail

Tough to transform or construct new property

One instance of authorized bribery is paying a “allow expediter” to get your housing allow permitted or permitted quicker. Should you do not pay for one, your allow might be held hostage for months and even years.

In 2005, once I was 28, I constructed a brand new full lavatory out of a closet. My common contractor suggested me to pay $1,200 for a allow expeditor so I did. He instructed me, “That is simply how issues work within the metropolis.”

It sounded fishy on the time however as this was my first time reworking, I did not know higher. The allow expeditor I paid was charged with bribery a yr later.

By making it troublesome to transform and construct new houses, town helps help current residence costs by artificially limiting provide. Consequently, current San Francisco owners have skilled higher residence value appreciation than cities with much less corrupt buildings and planning departments.

Additional, if you happen to can full a intestine rework, your own home needs to be way more worthwhile since it is so exhausting to get permits and cross the rigorous inspection course of.

See: Ex-SF Constructing Inspectors Took Bribes

2) Grateful to the Fed for creating boom-bust cycles

As a substitute of elevating and chopping rates of interest regularly, the Fed takes an aggressive method, which creates boom-bust cycles.

Throughout charge cuts in 2020 to counteract the pandemic, we made some huge cash in 2020 and 2021 with shares and actual property. As soon as the Fed began climbing charges aggressively in 2022, we purchased shares at a reduction. Now the S&P 500 is up ~20% and the NASDAQ is up ~45% YTD in 2023. What a blessing!

Because of aggressive charge hikes, I used to be additionally capable of purchase an exquisite property at a cheaper price 17 months after I first noticed it in Might 2022. The Fed’s charge hikes purchased me 17 months of time to save lots of, make investments, and recuperate from my inventory market losses. With out an aggressive Fed, the home would have gotten bid up past my household’s attain.

Thanks Fed for giving me the chance to finest maintain my household! As a father, one of many high priorities is to supply a snug residence.

Lastly, due to the Fed, we are able to now all earn ~4.84% risk-free earnings for as much as 20 years in Treasury bonds if we wish. Incomes such a excessive risk-free rate of interest with inflation heading again to 2.5% or decrease is a generational win. Hundreds of thousands extra savers will expertise higher monetary safety in consequence.

3) The intense facet of OpenAI altering to a for-profit firm

OpenAI, the AI firm which created ChatGPT started as a non-profit firm to assist all of humanity. However the leaders quickly realized the money-making potential in ChatGPT, so that they switched to a for-profit construction. After elevating an incredible quantity of funding, hiring high expertise, and innovating, the corporate is now value ~$86 billion.

When an organization is value $86 billion, it will get to rent much more folks, which is nice for cities the place OpenAI has workplaces (San Francisco, Seattle, and so forth.). As well as, the speedy creation of an $86 billion firm will increase the need to create new rivals. Enterprise capitalists are funding AI corporations left and proper!

Anthropic, a detailed OpenAI competitor, for instance, got here out of nowhere and is now value ~$30 billion. Not unhealthy for an AI firm which can be supposedly not revenue pushed.

Inside a number of years, all this sudden wealth creation has created 1000’s of latest millionaires and dozens of billionaires within the San Francisco Bay Space. In the meantime, 1000’s of latest jobs shall be created.

If OpenAI had determined to stay a non-profit and constant to its mission to assist humanity, all this wealth creation seemingly would have by no means occurred.

AI Is A Vacuum Cleaner Of Capital

Now there may be one other robust native financial catalyst for the San Francisco actual property market and financial system. I count on there to be much more AI corporations created due to 1000’s of latest financially unbiased workers at OpenAI, Anthropic, and so forth branching off. This occurred a number of years after corporations like Google and Fb went public. As soon as the shares totally vest, workers love to do their very own factor.

With a virtuous wealth cycle concentrated within the Bay Space, it is now more durable to depart San Francisco as a result of extra nice fortunes shall be made. The AI revolution is simply getting began.

It is a lot better to stay at AI headquarters than be outdoors the partitions the place AI shall be systematically eliminating hundreds of thousands of jobs over time. I hope this does not occur, however it’s an inevitability when an organization is attempting to maximise earnings.

4) Grateful for perpetual rejection

Once I did not get promoted to Managing Director in 2011, after 10 years of loyal service to Credit score Suisse, I made a decision to plot a plan to get laid off. The concept to negotiate a severance package deal with all my deferred money and inventory got here to me whereas sitting at a bar in sunny Santorini, Greece. Then I made it occur six months later.

Having the ability to stroll away from banking with cash in my pocket was a dream come true. Banking was making me ailing. Inside a yr after I left, all my continual again ache, sciatica, and TMJ went away. The well being advantages of early retirement are priceless.

Again then, I’d have paid something to really feel wholesome once more. Little did I do know that every one it took for a wholesome physique was not working 60 hours per week for years beneath numerous stress. Hooray for hitting the “bamboo ceiling”!

Turning job rejections into earnings

After getting rejected by dozens of tech corporations in 2012, I ended up shopping for numerous tech shares. I figured, if I could not work for them, they’d work for me! The returns from these tech investments have made it potential for my household to eat at McDonald’s on daily basis for the remainder of our lives.

As soon as my spouse negotiated a severance in 2015 as a excessive performer, we now not had backed healthcare. After getting one in all our medical health insurance claims denied by UnitedHealthCare, I noticed what a robust enterprise it was. So I purchased some UNH inventory and it has blown away the S&P 500!

Getting rejected as a author

When no literary agent responded to me about my e book thought on find out how to negotiate a severance, I made a decision to self-publish. The e book has now bought 1000’s of copies and has revamped $550,000 in web earnings.

I constantly get feedback and emails of thanks saying how How To Engineer Your Layoff gave them the braveness to depart a foul work scenario behind. It feels superb to vary folks’s lives for the higher.

Getting rejected as an athlete

One of many saddest issues about being an athlete is getting previous. Sooner or later, you notice your physique will now not cooperate even when your thoughts continues to be robust.

In 2023, I used to be rejected by the captain of a public park 4.5-level tennis group to affix his group. It was a tragic fall from grace given I had performed on the 5.0 stage for 4 years on different groups earlier than the pandemic. However with out this rejection, I would not have skilled one of the satisfying wins of my life.

On July 6, 2023, my accomplice and I beat the captain who had rejected me and his accomplice 4-6, 6-3, 10-7 in a vital playoff match. Ah, the win was so satisfying, so was seeing the melancholy on his face after he misplaced. Thanks Jeff for the priceless reminiscence!

Associated: Perpetual failure: the explanation why I save a lot

5) Decrease-than-average need to achieve success

One of many best destroyers of happiness is rarely being happy with what you’ve got. As a result of a pal of mine misplaced his life at age 15, since 13, I’ve felt extra grateful to be alive. Each new yr appears like a bonus.

At 34, I made a decision I had had sufficient and left banking. It was exhausting to stroll away from a wholesome paycheck. I knew if I labored for simply 5 extra years, I’d be capable to accumulate no less than one other $1 million in web value. However I did not care anymore.

My passive funding earnings on the time wasn’t sufficient to stay a wealthy way of life in San Francisco or Honolulu. However it was sufficient to stay a snug middle-class way of life as a person or couple.

If my intent was to make hundreds of thousands and get promoted to Managing Director, I’d have been depressing for the following 5-10 years working lengthy hours. My well being would have suffered and perhaps I’d have lower a few years off my life expectancy.

Ok is nice sufficient I say!

Fame just isn’t value it

I’ve discovered principally intrinsic motivation to do what I need to do. Though fame might be alluring, fame does not maintain my curiosity. Consideration is like an habit that may break an individual’s psychological well being.

I tasted some public publicity for a few months throughout my Purchase This Not That e book advertising tour in 2022. It was enjoyable to point out my mother and father the TV spots, however not one thing I’d need to be ongoing.

Whenever you’re together with your children on the playground, do you really need strangers coming as much as you and interrupting your one-on-one time together with your little ones? I do not suppose so.

All I need is sufficient cash to maintain my household, do significant work each week, and have the freedom of being a no one.

So Many Extra Uncommon Issues I am Grateful For

I may go on about extra uncommon issues I am grateful for. However I will not bore you.

There are two details to this publish:

1) Attempt to look on the brilliant facet of issues. Unhealthy issues occur on a regular basis. Prepare your thoughts to turn into extra optimistic by searching for the potential positives. Should you do, you will discover extra alternatives and really feel happier in consequence.

2) Do not cease attempting. You’ll by no means lose if you happen to by no means hand over. Do not underestimate the facility of grit. It does not matter if you happen to fail. What issues is that you just tried and can carry on attempting.

Glad Thanksgiving everybody!

I am curious what are some uncommon stuff you’re grateful for? What are some fortunate breaks you’ve got had?

Observe: I am probably not grateful for corruption, boom-bust cycles, authorities crimson tape, and greed taking up AI. Rejections at all times stink as properly. I am simply attempting to have a look at the positives of suboptimal conditions.

Associated posts about being grateful:

Fixing The Happiness Conundrum In 5 Strikes Or Much less

The Significance Of Forecasting Your Distress To Reside A Extra Fulfilling Life

Grateful For Luck: A Telephone Name That Modified My Life for The Higher

Subscribe To Monetary Samurai

Hear and subscribe to The Monetary Samurai podcast on Apple or Spotify. I interview specialists of their respective fields and talk about a few of the most attention-grabbing subjects on this web site. Please share, charge, and overview!

For extra nuanced private finance content material, be part of 60,000+ others and join the free Monetary Samurai e-newsletter and posts by way of e-mail. Monetary Samurai is without doubt one of the largest independently-owned private finance websites that began in 2009.