Bible Project | One Story That Leads To Jesus
Day 262 | Jesus and the Kingdom
John 9-10, Psalm 107
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Bible Project | One Story That Leads To Jesus
Day 262 | Jesus and the Kingdom
John 9-10, Psalm 107
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Day 261 | Jesus and the Kingdom
John 7-8, Psalm 106
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Day 260 | Jesus and the Kingdom
John 5-6, Psalm 105
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Day 259 | Jesus and the Kingdom
John 3-4, Psalm 104
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Can We Experience Eternal Life Today?
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Day 258 | Jesus and the Kingdom
John 1-2, Psalm 103
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Day 257 | Jesus and the Kingdom
Mark 15-16, Psalm 102
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Day 256 | Jesus and the Kingdom
Mark 13-14, Psalm 101
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Day 255 | Jesus and the Kingdom
Mark 11-12, Psalm 100
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Day 254 | Jesus and the Kingdom
Mark 9-10, Psalm 99
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Day 253 | Jesus and the Kingdom
Mark 7-8, Psalm 98
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Day 252 | Jesus and the Kingdom
Mark 5-6, Psalm 97
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Day 251 | Jesus and the Kingdom
Mark 3-4, Psalm 96
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Mark: The Gospel of the Servant-Messiah
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Day 250 | Jesus and the Kingdom
Mark 1-2, Psalm 95
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Day 249 | Jesus and the Kingdom
Matthew 27-28, Psalm 94
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Day 248 | Jesus and the Kingdom
Matthew 25-26, Psalm 93
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“Why Did Jesus Have To Die?” (A Question Worth Unpacking)
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Luck and risk are both the reality that every outcome in life is guided by forces other than individual effort. They are so similar that you can’t believe in one without equally respecting the other. They both happen because the world is too complex to allow 100% of your actions to dictate 100% of your outcomes. They are driven by the same thing: You are one person in a game with seven billion other people and infinite moving parts. The accidental impact of actions outside of your control can be more consequential than the ones you consciously take.
If you give luck and risk their proper respect, you realize that when judging people’s financial success—both your own and others’—it’s never as good or as bad as it seems. Luck and risk are both huge elements of success.
Everything worth pursuing has less than 100% odds of succeeding, and risk is just what happens when you end up on the unfortunate side of that equation. Just as with luck, the story gets too hard, too messy, too complex if we try to pick apart how much of an outcome was a conscious decision versus a risk. When we don’t give risk and luck their proper billing it’s often invisible yet countless fortunes (and failures) owe their outcome to leverage.
The difficulty in identifying what is luck, what is skill, and what is risk is one of the biggest problems we face when trying to learn about the best way to manage money. But two things can point you in a better direction.
1. Be careful who you praise and admire.
2. Be careful who you look down upon and wish to avoid becoming.
Realize that not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself. Risk and luck have a great part to play in the outcomes of life .
Focus less on specific individuals and case studies and more on broad patterns.
Bill Gates once said, “Success is a lousy teacher. It seduces smart people into thinking they can’t lose.” When things are going extremely well, realize it’s not as good as you think. You are not invincible, and if you acknowledge that luck brought you success then you have to believe in luck’s cousin, risk, which can turn your story around just as quickly.
Failure can be a lousy teacher, because it seduces smart people into thinking their decisions were terrible when sometimes they just reflect the unforgiving realities of risk. The trick when dealing with failure is arranging your financial life in a way that a bad investment here and a missed financial goal there won’t wipe you out so you can keep playing until the odds fall in your favor.
Bible Project | One Story That Leads To Jesus
Day 247 | Jesus and the Kingdom
Matthew 23-24, Psalm 92
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People do some crazy things with money. But no one is crazy.
Studying history makes you feel like you understand something. But until you’ve lived through it and personally felt its consequences, you may not understand it enough to change your behavior.
As investor Michael Batnick says, “some lessons have to be experienced before they can be understood.” We are all victims, in different ways, to that truth.
In theory people should make investment decisions based on their goals and the characteristics of the investment options available to them at the time. But that’s not what people do. The economists found that people’s lifetime investment decisions are heavily anchored to the experiences those investors had in their own generation— especially experiences early in their adult life.
The financial decisions we make most times tends to define how our life turns out to be. However, we can't be determinants of our financial success some times. The economy hits everyone differently but there's always diverse impact that economic recession would have on an individual who had made a wise financial decisions than an individual who has not.
The economists wrote: “Our findings suggest that individual investors’ willingness to bear risk depends on personal history.”
Every decision people make with money is justified by taking the information they have at the moment and plugging it into their unique mental model of how the world works.
Few people make financial decisions purely with a spreadsheet. They make them at the dinner table, or in a company meeting. Places where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together into a narrative that works for you. Your experiences often influence your perspective and decision with money .
Everyone talks about retirement, but apparently very few do anything about it. It should surprise no one that many of us are bad at saving and investing for retirement. We’re not crazy. We’re all just newbies.
We all do crazy stuff with money, because we’re all relatively new to this game and what looks crazy to you might make sense to me. But no one is crazy—we all make decisions based on our own unique experiences that seem to make sense to us in a given moment.
People's experiences, influence and impact their view on money. And when that’s the case, a view about money that one group of people thinks is outrageous can make perfect sense to another. Therefore , it's wise to respect people's opinion about their personal financial decisions.
Bible Project | One Story That Leads To Jesus
Day 246 | Jesus and the Kingdom
Matthew 21-22, Psalm 91
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Bible Project | One Story That Leads To Jesus
Day 245 | Jesus and the Kingdom
Matthew 19-20, Psalm 90
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Day 244 | Jesus and the Kingdom
Matthew 17-18, Psalm 89
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Day 243 | Jesus and the Kingdom
Matthew 15-16, Psalm 88
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How to Read Biblical Narrative: The Parables of Jesus
Day 242 | Jesus and the Kingdom
Matthew 13-14, Psalm 87
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Day 241 | Jesus and the Kingdom
Matthew 11-12, Psalm 86
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Day 240 | Jesus and the Kingdom
Matthew 9-10, Psalm 85
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Day 239 | Jesus and the Kingdom
Matthew 7-8, Psalm 84
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Day 238 | Jesus and the Kingdom
Matthew 5-6, Psalm 83
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What Matthew 6:33 (Seek First the Kingdom of God) Means
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Day 237 | Jesus and the Kingdom
Matthew 3-4, Psalm 82
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Day 236 | Jesus and the Kingdom
Matthew 1-2, Psalm 81
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Matthew: Jesus Is the Promised Messiah
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Day 235 | The Story So Far
2 Chronicles 35-36, Psalm 80
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Day 234 | The Story So Far
2 Chronicles 32-34, Psalm 79
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Day 233 | The Story So Far
2 Chronicles 28-31, Psalm 78
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Day 232 | The Story So Far
2 Chronicles 25-27, Psalm 77
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Day 231 | The Story So Far
2 Chronicles 21-24, Psalm 76
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The Sense of an Ending: What is the Real Last Book of the Old Testament?
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Day 230 | The Story So Far
2 Chronicles 18-20, Psalm 75
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Bible Project | One Story That Leads To Jesus
Day 229 | The Story So Far
2 Chronicles 13-17, Psalm 74
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Bible Project | One Story That Leads To Jesus
Day 228 | The Story So Far
2 Chronicles 9-12, Psalm 73
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Day 227 | The Story So Far
2 Chronicles 5-8, Psalm 72
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Day 226 | The Story So Far
2 Chronicles 1-4, Psalm 71
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Day 225 | The Story So Far
1 Chronicles 25-29, Psalm 70
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Day 224 | The Story So Far
1 Chronicles 22-24, Psalm 69
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Day 223 | The Story So Far
1 Chronicles 18-21, Psalm 68
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Day 222 | The Story So Far
1 Chronicles 15-17, Psalm 67
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Bible Project | One Story That Leads To Jesus
Day 221 | The Story So Far
1 Chronicles 11-14, Psalm 66
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