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The Next Small(est) Thing

How many of us have been paralyzed by a daunting to do list, or a next Big Thing? 

[Raises hand.]

Recently I’ve been taking on a few big projects with Fident (more on that soon!), and I’m reminded of a few Big Things I’ve been discussing with members of the Fident Family. Awesome Things. Inspiring Things. But potentially overwhelming Things.

Launching an art school.
Raising outside funding for original video content.
Transitioning from two incomes to one.
Changing jobs after multiple decades at the same company. 

And in each of these conversations there’s been some element of feeling stuck, not sure how to tackle such a daunting idea. What we’ve done is simply identify the Next Smallest Step, and do it. Then identify the Next Smallest Step, and do that. Repeat. Repeat. Repeat. 

Talk to someone who has launched a similar school. 
Ballpark an approximate amount of funds needed. 
Audit monthly expenses and determine income need.
Create a resume. 

Breaking down the Big Thing into several - or a plethora of - smaller steps helps us maintain focus, celebrate small victories, and build up momentum. It helps us see the progress.  

And before we know it, we’re well on our way. 

Next. Smallest. Step. 
Interesting Finds

1. A Wealth of Common Sense - Financial Superpowers
The smashing success of the Marvel Universe movies over the years shows that we still all want some degree of superpowers. What about financial superpowers? Great list here. A few of my favorites:

The ability to delay gratification.
The ability to avoid lifestyle creep.
The ability to stop comparing yourself to others.
The ability to be satisfied with what you have.

What makes these seemingly common sense superpowers, well - super, is the fact that most people don't possess them. Even more - all of them can be learned with knowledge and discipline, and don’t require an arc reactor implanted in our chest. 


2. CNBC (gasp!) - Do You Consider Your Home a Great Investment? Think Again.
I’m so hesitant to actually link to a CNBC article, but this one is pretty good. Something I’ve talked about before is the fallacy of your primary home being a great investment. Home price appreciation averages about 1% above inflation historically. And once you factor in such things as property taxes, maintenance, and homeowners insurance that return can drop even more. 

There are certainly exceptions to this, especially if you’re flipping the home and know what you’re actually doing - and it doesn’t apply to separate rental properties or other real estate investments outside your main home. But it’s always a good reminder that presumably the largest financial purchase most people make oftentimes isn’t the highest return on investment. That doesn’t mean we shouldn’t buy a home - there are plenty of other reasons to buy - but we need to set realistic expectations.
What's a Big Thing that you're working on? What's the next smallest step you can take towards it? Hit reply and let me know. I love hearing what people are up to.

Gratefully,
Jeremy
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