What are you Trying to Master?

With the help of author Daniel Pink’s framework, we’ve identified five main motivating factors that drive much of human behavior:  Autonomy, Mastery, Purpose, Identity and Connection.

I want to focus today on ‘Mastery’, as I think this aspect of motivation often gets overlooked entirely.

Sure, many students and those early in their careers are consciously pursuing knowledge and mastery, but honestly, how many older people are actually trying to "master" any new skill or learn anything new at all?

I think the answer is just about nobody.

Routines turn into ruts and we just don’t have the energy, time or motivation to even attempt to learn anything new.

I know I was guilty of this for a solid decade of my adult life.  But something shifted and I now relish the "white belt beginner’s mindset" which amounts to being terrible at something but soaking up all the knowledge I can with a long-term goal of attaining some level of mastery.

I still have a long way to go, but just in the past five years I’ve taken up weightlifting, Brazilian Jiu-Jitsu and the Japanese language.

It’s motivating knowing each is a long-term effort that may take me 10+ years to get really good at, and that I can’t just show up and expect to succeed with little to no effort or study.

My challenge to you if you’re in the same rut I was stuck in for so many years is this:  Find something really difficult you would enjoy working towards that is completely out of your comfort zone and take one step today to get started down that path.

Inner Work Challenge: 100 Great

Dominick Quartuccio is one of our most popular recurring guests on ChooseFI and I have benefited greatly from being a member of his Mastermind group focused on ‘inner work.’

Starting January 1st, Dom is hosting a free 60-day program called the "100 Great Pushup Challenge" which appears at first glance to be a physical challenge about doing 100 pushups in a row, but it is so much more than that.

It’s really an entry point to doing inner work, as you’ll focus on breathwork, meditation, visualization, overcoming your limitations & inner critic and much more.

It’s important to note that Dom’s work centers around helping men primarily, but this challenge is open to all who want to join.

I highly recommend it – the accountability of being part of a group is significant, and the free training Dom is preparing is essential work for all of us to help better navigate life.

ChooseFI Resource of the Week: FI 101

I’m highlighting some of the excellent free resources we have available at ChooseFI, and this week I wanted to mention the Financial Independence 101 course our Foundation created to get you up to speed on the core concepts of financial literacy and financial independence.

This course offers in-depth videos from Jonathan and me (plus detailed lessons) and is the perfect way for you to introduce someone to the concept of Financial Independence, or, if you’re new to the community, to get more familiar yourself.

ChooseFI Community Taking Action This Week

• Emma said, "My 1% - I canceled my $250/month automatic investment in my brokerage account to put the money towards body work to invest in my health. As the saying goes, "Health is Wealth." My body has made this very clear to me over the last year and I am waking up to embrace the lessons life has to offer. It feels great to be investing in my body to support me for the decades to come. Plus, it will make life more enjoyable and fun along the way!"

• Rob said, "I had a few great investing wins this weekend. I finally took back control of my Roth IRA after parting ways with my financial adviser (no more 1.25% fee for advising I don't need), then maxed out contributions for the year. I set up contributions for my company SEP IRA so that I will get the full 3% match. And I immediately invested my Christmas bonus in my M1 Finance brokerage account. In the last 2 days, I invested $5k and greatly lowered my fees, which will make me much wealthier in the long run. I also booked a consult with an adviser at the Student Loan Planner to finally get my loan repayment strategy sorted out. Feels great."

• Rachel said, "My 1% better has been getting involved in our local YMCA. While my husband is deployed, we get a free family membership that gives us use of the facility and access to most of the workout classes at no cost, as well as half off youth programs. I enrolled my daughter in gymnastics on Saturday mornings and we go swimming almost every Sunday at the indoor pool. I also started attending workout classes during my lunch breaks. The mental and physical benefits are phenomenal but the biggest benefit has been the community of individuals at our YMCA that have gone out of their way to make us feel welcome and who check in on us while my spouse is away. After this deployment, we will opt to pay for a family membership as it's affordable on its own, especially considering the access and benefits it gives us. I would highly recommend anyone, but especially those with children, to look into their local YMCA!"

• Bryan said, "My 1% better this week was a HUGE step for my fiancée and I. Last year we were looking to buy a rental property when the housing market started to skyrocket. We decided to move that chunk of money into some other investments that ended up doing really well (basically doubling) in the craziness of the stock market. Over the past couple months, we pulled that money back out and got an offer accepted on a townhome. The appraisal came back low and our outstanding real estate agent was able to negotiate the sale price down another $10k because of it! After this whole ride, we finally just closed on our first rental property!"

• Josh said, "Here are a few recent wins: 1) My wife and I hosted a book-exchange party. Everyone brought food for the potluck and 5-8 books that they like but probably won't read again. Everyone left with new additions to their library and full stomachs. 2) We spent almost no money on Christmas gifts for extended family. I am a hobbyist woodworker. Using wood I got for free and supplies I mostly already had, we were able to make meaningful and quality gifts for ~10 people. 3) This will be my wife's and my second Christmas together, but our first with decorations. Last year, we agreed to not have any décor, then went out on Dec 26th to find some. We got everything for about 80% off just because we were willing to go a year without."

• Stephen said, "Our 1% better this week consisted of selling an albatross of a property that we foolishly bought four years ago. We were able to sell at a profit and instead of blowing through the extra cash we were able to pay off most of our debt. We have decreased our monthly outflow by almost $1200. We are looking forward to INVESTING the extra cash. Thanks FI!!!!"

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