Tradeoffs
Tradeoffs
"Having it all" is the modern-day fairytale.
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Dear Unlearners,
Everything in life is a tradeoff.
We must carefully pick what truly matters to us.
A friend of mine, a multimillionaire, chose to base himself in a second-tier city. It doesn't have everything, and he needs to fly to other cities for things he wants in life. But the tax rate is great. This allows him to reinvest a lot of his money and grow his wealth. He prioritizes financial growth over other aspects of life. While he may miss out on some conveniences and cultural offerings of larger cities, he's able to build his fortune more efficiently. In the long run, he will be more financially stable and have more freedom in life. Clearly, he is very wealthy.
On the other hand, Amanda Rollins, a Paris-based TikTok influencer, recently complained about taxes in Paris. For every $3 she makes, the government takes $2. Paris is a gorgeous city with great culture, history, and many things to do. But financially speaking, it's a nightmare for someone who is self-employed. The taxes and social contributions eat into savings and investment. If her personal income tax rate increases from 20% to the maximum, she might end up making cents for every $3. While she enjoys the vibrant culture, history, and lifestyle Paris has to offer, she faces significant financial setbacks. If she is not careful, she can be broke while making a lot of money at the same time.
Some people value quality of life over financial benefits. Some choose to have an easier life financially by trading convenience and excitement.
This applies to almost everything in life:
High salary vs. job satisfaction: A well-paid job might not always align with interests or values. But a fulfilling job might come with lower compensation.
City living vs. rural living: Big cities like NYC, London, San Francisco offer more job opportunities. But the cost of living and the stress that comes with the job goes through the roof. Rural areas provide more space and lower costs. But it would be hard to find a job for many fields.
Having children vs. personal freedom: To have kids you need to invest a lot of time, energy, and money. Being childless, you would have more freedom and resources to yourself. However, later in life, you could end up being lonely without a family.
Social life vs. alone time: Maintaining an active social life can be really fun but time-consuming. That eats into the time you could work on your personal growth and career. But by focusing on yourself, you sacrifice a lot of fun moments.
Greater results usually require greater tradeoffs. The more you sacrifice, the more you might get.
You need to understand what truly matters to you, what you're willing to sacrifice and what you're not. You can choose what's most important to you.
Your priorities may shift over time, and that's okay. But at the end of the day, when you realize everything is a trade-off, life will become so much easier.
We can't have everything in life. But we can get the things we choose and go after.
Until tomorrow,
Cammi
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In other words, sometime compromising the lesser of two or more evils, making the seemingly better choice with the prospect of losing another, or sacrificing one aspect for the sake of another.
Life can sometimes be an endless plethora of compromises and tradeoffs.