Ten years ago this month, I began writing No Mercy / No Malice every Friday. I reflected on that milestone and wrote about why I believe great storytelling starts with strong writing here.
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Let’s talk about spending money in your twenties
I’m going live tomorrow at 3:15pm ET with Jack Raines, Substack writer and author of Young Money. This event is for everyone. Sign up below.
We’re discussing how to build wealth, find purpose, and make smarter financial decisions in your twenties. What should young people prioritize? Which conventional money rules are worth following? And how do you prepare for the future without putting your life on hold?
Get involved:
Submit your questions and topics in the comments of this Substack post before the taping. We’ll use that to shape the conversation.
Join the livestream and give us feedback in real-time. We’ll be looking at the comments.
A recording of the episode will be available this Thursday as usual – the difference is that your input will have helped shape it.
You’ll get an email notification when the stream goes live.
Appointment raging
Wednesday July 29 at noon ET (and every Wednesday) catch Jess Tarlov and Aaron Parnas on Raging Perspective. They’ll help you make sense of the firehose of political news this week.
ICYMI
Last week, I spoke with Derek Thompson, host of the Plain English podcast, Substack writer, and co-author of Abundance about living through the loneliest era in American history, how we got here, and what we do about it.
Life is so rich,
P.S. The 10% discount on an annual Prof G+ paid subscription expires at the end of the month. Buy now, or pay more later.
My partner and I are early in our careers with two solid incomes, and right now we can save comfortably. But we can see our expenses climbing in about five years. We're planning for kids, buying a house, and possibly dropping to one income for a stretch. Since we know these costs are coming, what’s the smartest way to prepare now? Should we save as aggressively as we can, focus on growing our income, or something else?
I would like to hear your perspectives on those with high current income (think $1mm+ annually in cash) with remaining upward trajectory. Not quite an UHNW but further along than a HENRY. What is the right way to compare consumption versus saving versus investing? High value consumption is very well within "reason" relative to earnings but what are the biggest issues you have seen, particularly for those that are younger and have quite a bit of remaining runway in terms of career and hopefully earnings growth? Is this a critical juncture where lifestyle creep must be avoided at all costs to set the right habits for the future or is the Porsche or the vacation at du Cap-Ferat or Amangiri justifiable? It is easy for people to put extremely high net worth individuals that forego lavish consumption (Buffett still eats at McDonald's!) on a pedestal but through personal experience, I have not found these perspectives coming from the highest earners.