The Examined Life
Episode 287
Episode Guide
Episode Timestamps
ChooseFI Episode Show Notes
Episode Title: The Examined Life of Goal Setting
Hosts: Jonathan Mendonsa & Brad Barrett
Episode Summary: Goal setting involves actively planning and executing personal objectives, especially as the new year begins. Participants reflect on their past approaches, emphasizing sustainable habits over rigid goals. The episode emphasizes the importance of "examined living," encouraging listeners to critically evaluate their choices and consider the impact on their health and well-being. A focus on self-experimentation, value-driven lifestyles, and community connection is highlighted throughout the discussion.
Key Topics Discussed:
Introduction to Goal Setting
- Discussion around new year resolutions and goal-setting strategies.
- Importance of having realistic and achievable goals.
Discussing the Examined Life
- Emphasizes the concept of the "examined life."
- Encourages listeners to analyze how their habits affect their overall quality of life.
Health and Wellness Goals
- The episode discusses participants' approaches to health and wellness, shifting focus from weight loss to overall energy and well-being.
Personal Development and Systems
- The hosts discuss the distinction between setting rigid goals and developing flexible systems that support personal growth.
- Emphasizing the benefits of habit stacking for sustainable personal development.
Growing Your Own Food
- The conversation shifts to the value of self-sufficiency, including growing one's own food.
- Tips from James at grass to veggies.com on how to start gardening, focusing on practicality and accessibility.
Community Connection
- Discusses the role of community connections in achieving personal goals.
- Encourages listeners to seek out mentors and engage with local resources for learning and growth.
Key Takeaways:
- Experiment with Habits: Implement small experiments to assess the impact of dietary choices on energy levels.
- System Shift: Focus on creating systems for achieving goals rather than rigid targets, allowing for flexibility and personal insight.
Quotes:
- "Recognizing a problem often requires experiencing the absence of it."
- "Embrace the examined life for true self-awareness and growth."
- "Focus on progress, not perfection."
Action Items:
- Start a Personal Well-being Experiment: Track food intake and its impact on energy levels.
- Engage with Community Gardening: Join local gardening initiatives to learn and contribute.
FAQs:
-
How can I set more effective personal goals?
- Focus on creating supportive systems rather than fixed targets. Embrace flexibility to adjust based on outcomes.
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What does the 'examined life' involve?
- It encourages individuals to reflect on their choices and understand their impacts on health and well-being.
Related Resources:
Discussion Questions:
- What systems can you implement in your life to help you achieve your goals?
- How can reflecting on your personal values influence your daily decisions?
Additional Information:
- Episode Mention: Explore episode 248, "You Are More Than Your Financial Capital," for more insights on personal growth and resource connection.
Podcast Description:
Join Brad Barrett and Jonathan Mendonsa as they delve into effective goal-setting solutions, personal growth strategies, and the importance of community connections in your pursuit of financial independence.
Embrace the Examined Life: Transform Your Goal Setting for Financial Independence
In the quest for financial independence and personal growth, the importance of effective goal setting cannot be overstated. However, rather than setting rigid goals, consider embracing a more holistic approach—one that focuses on systems, self-experimentation, and habitual growth. This article draws from insightful discussions shared on the ChooseFI podcast, guiding you through actionable strategies to redefine how you set and achieve your life goals.
The Power of Intentionality in Goal Setting
The beginning of a new year often prompts reflections on past resolutions and future aspirations. Instead of merely setting goals, cultivate a mindset of intentional living. Ask yourself: What do you truly value? Align your goals with your personal values to ensure they resonate deeply with your aspirations. This requires a commitment to the "examined life," which is about reflecting on your choices and their impacts on your health, finances, and overall well-being.
Curiosity as a Catalyst for Growth
Approach each day with a sense of curiosity. Instead of accepting your current circumstances, challenge yourself to ask questions about the habits and routines that govern your life. This mindset fosters learning and uncovers opportunities for growth. For instance, experiment with different dietary habits and track how these changes affect your energy levels and overall health. Small adjustments can lead to significant insights, revealing what works best for you.
- Action Item: Begin a personal experiment to gauge how dietary changes impact your energy.
Developing Flexible Systems over Static Goals
Many individuals often feel disheartened when unable to achieve their rigid goals. Shift your focus from fixed outcomes to creating flexible systems that can adapt to your journey. Instead of setting a goal to read a specific number of books this year, establish a routine of reading for 30 minutes each day. This habit-focused approach cultivates long-term growth and aligns with sustainable values.
Habit Stacking for Success
Explore the concept of habit stacking, where you integrate a new habit with an existing one. For example, if you enjoy your morning coffee, pair it with a 10-minute meditation session. This technique makes it easier to incorporate new habits into your daily life without feeling overwhelmed.
- Action Item: Identify an existing habit and stack a new habit on top of it to boost your routine.
Prioritize Health and Wellness
As you set goals, don't overlook your health. Many people prioritize financial goals over their well-being, but true financial independence is about more than just money—it's about living a fulfilling life. Reflect on your energy levels and well-being regularly.
Exploring Nutrition and Its Impact
Consider conducting small experiments with your diet to identify foods that enhance or diminish your energy. What you consume significantly influences your performance and productivity. If you notice that certain meals lead to fatigue or mood swings, seek alternatives that lead to more vibrant and sustained energy levels.
- Quote: "Recognizing a problem often requires experiencing the absence of it." - Embrace insights gained from personal experimentation.
Building Community Connections
Strengthen your journey toward financial independence by engaging with your community. Establishing such connections not only provides support but also expands your learning opportunities. Seek out local groups focused on goals you're pursuing, whether in finance, health, or personal development.
Learning from Experts
As you venture into new territories—such as personal finance or gardening—consider connecting with those who have expertise in those fields. The wisdom you gain from informal mentorship can significantly accelerate your learning. For instance, if you're interested in gardening, reach out to community gardens or local farms and volunteer your time in exchange for hands-on advice.
- Action Item: Participate in community gardening efforts to learn about sustainable food production while building local connections.
Sustainable Living Through Gardening
Growing your own food can lead to substantial savings and enhanced well-being. Even with limited space, numerous resources available can help you start small with planting herbs or easy-to-grow vegetables like squash.
Tips for Beginners
- Start Small: You don’t need extensive knowledge to begin. Just try planting a few herbs or vegetables to learn as you grow.
- Grow What You Love: Cultivate the types of produce you enjoy eating to make your efforts rewarding.
- Utilize Community Resources: Check if there are local farms or community gardens that allow you to grow food in shared spaces.
- Expert Tip: "Grow what you're actually going to eat." - Focus on your preferences to build a successful garden.
Conclusion: Focus on Progress, Not Perfection
In your journey toward financial independence, remember not to let perfection become the enemy of good. Celebrate your progress, no matter how small, and keep adjusting your systems as needed. Each step taken in the direction of self-improvement, community engagement, and intentional living will bring you closer to your goals.
As you think about your own aspirations for the year, reflect on these guiding principles. Create systems that align with your values, engage your curiosity, and connect with your community. With these strategies, you’ll find greater fulfillment and success along your path to financial independence.
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What You'll Get Out Of Today's Show
Are you the kind of person who sets New Year's resolutions? Like many Americans, Jonathan used to set weight loss goals for the new year, but not this year. Instead, he and his accountability partner, JD Roth, spent the previous nine months working on it and began the year, at or very close to their goal weight.
Not having to work on big weight loss goals is allowing Jonathan to be aware and focus on testing smaller adjustments that will make him feel better and have more energy.
Brad once had an experience while on vacation that made him realize how his normal diet was causing him joint pain. He wasn't even aware he had joint pain until one day it was gone. It was only then that he understood he had a problem that needed to be worked on.
When you live an examined life, you don't have to accept the things that are reducing your capacity to function as normal.
Brad thought his morning smoothies were a healthy choice, but it turns out the negative impact was a sugar crash necessitating an afternoon nap. It wasn't something he noticed until he stopped the daily smoothie routine.
The examined life concept can be applied to your personal finance life as well. It's not as much a goal as it is a mastery of process.
Brad embraces James Clear's concept of setting up systems that work in his life versus setting goals. He has set up eight different things he wants to accomplish as a part of a system with checkpoints along the way.
In an attempt to develop two new habits, Brad is habit stacking. With habit stacking, you take one habit you have and combine it with another you want to create. Brad has combined his desire to become more fluent in Japanese with moving more during the day by taking walks around the neighborhood while listening to the Pimsleur language learning app. It's not perfect, but it's a system that is working for him.
Brad is also following the advice of Chris Guillebeau and conducting his own annual review. This annual review sets the big picture, the intentions, the purpose, and outcomes. It then breaks life down into different areas where concrete goals may be set, such as self, health, family, community, travel, and others.
While neither has large plots of land in suburban Richmond, VA, Jonathan and Brad have both contemplated starting some sort of micro garden.
Listener James wrote in to say that he's been able to cut down on his grocery bill by going a whole year eating only vegetables he's grown himself.
James says knowledge isn't needed. Just try growing things. You'll learn as you go. Also, grow what you are actually going to eat. Kale is great, but not if you won't eat it. And finally, squash is king as it produces pounds and pounds of food.
Start with a 4'x4' or 6'x6' plot of land and plant 2 summer squashes and 2 winter squashes two feet apart. Water the roots, not the leaves.
If you don't have a yard, get creative like a friend with a yard, a community garden, or a local farm.
In your own garden, build up your soil health with compost.
When you are genuinely interested in learning, finding mentors willing to help can be easy. Jonathan's brother, Andrew who edits the podcast, has been interested in sustainable homesteading. Through the ChooseFI Facebook groups, he has found a community to learn from and is getting free room and board in exchange for work.
You get so much power and understanding in your own life just by understanding the concepts of FI. You don't need to be at your FI number to achieve power and autonomy in your life. It starts the moment you decide to make small changes to make your life better.
Neither Jonathan nor Andrew have reached FI, yet for all intents and purposes, they are living a financially independent lifestyle.
The goal isn't to have the most money, it's to be post-money, which is beyond the point where money matters. What do you want your life to look like, and what do you need to pull that off?
Suzanne sent in a question about expense ratios. She didn't know where to look to find out how much she is paying across their various investments.
First, there may be a fee attached to the fund for it being executed the way it is, known as the expense ratio. Second, if access to the fund is through a financial manager, there could be an assets under management fee.
The impact these fees can have on your investments is enormous. They can cost an investor millions of dollars over a 40-year time frame.
Brad suggested Suzanne google the funds' names or ticker symbol and expense ratio, such as "VTSAX expense ratio". The result should be just one or two clicks away.
To reduce costs, long-term investors should use a commission-free platform to purchase funds, such as M1 Finance when investing outside of your employer.
