How to Build a Kickass Life (by Kevin Dahlstrom)

Sharing lessons from a video I just watched from Kevin Dahlstrom (shown below!) It’s coloring a lot of reflection in my life today.

Kevin knows a lot of very rich people who live very dissatisfied and unhappy lives. He was one of them — until a wake up call caused him to quit his job, likely costing him 10s of millions of dollars, in exchange a better, kickass life.

Below are his steps…

  1. Define the dream. To start the journey, you need to know the destination. What’s your ideal life look like? Write it out and don’t hold back. Here’s Kevin’s list:
    1. image
    2. Turns out majority of people’s “ideal life” states don’t involve a ton of money. Instead, they require more time.
    3. Goal: how can you fill the gaps between what you say you want and what you actually do?
  2. Know your number. How much money do you actually need to be happy?
    1. In an HBS study, they asked multiple people the question “How much do you need to be happy?” and most everyone answered “Twice what I have.” It’s a hedonic treadmill — you’ll always want more.
    2. Instead, think about the 4% rule: for financial independence, you need assets 25x of your annual living expenses.
      1. Example:

      2. Let’s say you spend $40k/year (about ~$3.3k per month)
      3. $40k x 25 = $1M is the base of how much you might need be financially independent (not have to work for money)
      4. This number goes down if:
        • You cut down on expenses
        • You continue to work (because you’re bored)
        • You have passive income
  3. Upgrade from business class to economy. Only keep things that you find joy in (basically Marie Kondo your life!)
    • “The things you own end up owning you”
    • Minimalism isn’t:
      • A life of sacrifice and self-denial
      • Penny-pinching
      • Returning your Porsche
    • Minimalism is:
      • Keeping what brings you joy and discarding the rest
      • Make space for MORE of what brings you joy
      • Different for everyone
  4. Compare your camera roll, not your bankroll. Experiences > things.
    • Their household has a mantra: “Dahlstroms invest in experiences”
    • What’s in your camera roll?
  5. Be more than your work. Work does not have to be your #1 identity.
    • What’s the one thing your 20 and 80 year old self will tell you?
  6. Don’t be a goldfish. Choose the place you reside in, don’t stay stuck in your defaults.
    • His hot take: Your choice of place is as important as your choice of partner.
  7. Think like a time billionaire. There are 1 billion seconds in 30 years. How do you choose to spend these billion seconds?
    • Would you trade places with Warren Buffett who has $135B and 93 years old? Warren Buffet would probably want to trade places with someone younger.
  8. Get fit. Letting this image speak for itself.
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  10. Give yourself a break. Take sabbaticals to recharge, reflect and think creatively.
    • You work 500 months. A 3-month break is <1%.
  11. The time is now. Someday might never come.
    • Kevin talks about a moving story about his uncle who collected coins from work. Everyday he’d fill a bucket with coins and say “Someday my wife and I will take this bucket of coins and take a trip to Hawaii.” Unfortunately one day he learned he had bone cancer and 3 weeks later he passed. Someday never came (at this point Kevin started tearing up and I did, too.)
    • Someday might never come so how can you bring someday to today?

Hope you enjoyed!