52: Designing your vision for your life

55: Lessons from the Game of Poker

Poker

Receive 2 cards, you are the only one to see your two cards

Dealer reveals 3 cards that all players can see and use in their hand

Players bet

Check - if you have enough bet but don’t want to raise

Fold - if you need to put in more chips but don’t want to

Call - match the amount of chips bet by others

Raise - increase the amount of chips bet by each player

Dealer reveals another card

Players bet

Dealer reveals final card

Players bet

Best hand wins

You have no control over the cards you are dealt or the community cards

The only control is whether you take the opportunity given to you or wait for another opportunity

If you are wise about the opportunities you take and the ones you don’t, then over time you will win more often than lose.

When deciding how much to bet, you determine how often you would win out of 100 rounds with that hand (winning percentage) If you would win 1 out of 100. Then you wouldn’t want to bet much if at all because you would have to get 100x what you lost each round when you win just to break even. But if you would win 50% of the time then you only need to double your loss when you win which if you have more then 2 players is likely going to happen.

In life, you don’t get to choose where you start, who your parents are. You only have a small control (usually) over what other people do to you. But you do have the opportunity to choose how you react.

When you have a bad “hand” you can fold and just ignore the situation, you could also bluff and try to learn some things about the other players.

Sometimes, when I have someone who is purposefully attacking me (verbally). I often find it’s a good strategy to bluff and assume that they are joking with me and I laugh along with them. Oftentimes this either softens them up or at least confuses them enough that I can leave the situation.

Sometimes you are given great opportunities and you should determine your odds of success and how much you are willing to bet on that opportunity.

Most of the time you are just dealt average hands and you can try to make the most of it and be willing to adjust as you go.

If whenever you get a bad hand you get angry at chance and think it’s not fair, you will be a poor poker player. Use your bad hands to learn. Be creative, is there any way to turn this into a win, even if it’s a small one?

Remember, we are playing the long game, it’s not about winning every hand, it’s about winning the whole pot. This happens by consistently making good decisions and correctly determining probabilities.

Great players can turn bad hands into successful rounds. It’s all about the mindset

https://www.thrivetimeshow.com/podcast-guests/sean-stephenson/

Clifton Taulbert

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54: Auto Assign Secret Santa

Each year for Christmas each person in my family is assigned one other person to give a gift to.

We want it to be a surprise so we can’t have a rotation

We can’t have ourselves or our spouse

We can’t have the person we had last year

We would like to make it more likely to get someone that we haven’t been assigned for awhile.

My program automatically sends out an email to each person with their assignment.

I like it because it forces you to try to get to know the person better so that you can get them a good gift. Strengthens family bonds etc.

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53: The Tragedy of Age Segregation

Age Segregation

Kids go to school, spend all day with other kids their age

People are encouraged to retire, leaving the workforce for people in working age

Older people spend their time in retirement homes

The normal thing is for the grandparents to help teach the kids

Grandparents teach what is most important, morals, how to live a good life

Parents teach more practical things, how to make a living, how to organize your life etc

Why the change?

Perhaps because things are changing so much that many people look at their parents and grandparents as uninformed because they don’t know the latest tech.

Schools and the push for retirement are big factors

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53: The Tragedy of Age Segregation

Age Segregation

Kids go to school, spend all day with other kids their age

People are encouraged to retire, leaving the workforce for people in working age

Older people spend their time in retirement homes

The normal thing is for the grandparents to help teach the kids

Grandparents teach what is most important, morals, how to live a good life

Parents teach more practical things, how to make a living, how to organize your life etc

Why the change?

Perhaps because things are changing so much that many people look at their parents and grandparents as uninformed because they don’t know the latest tech.

Schools and the push for retirement are big factors

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52: Designing your vision for your life

People making drastic life choices without thinking them through

Autopilot just following the path of least resistance

Buying things you don’t need or sometimes don’t even really want

Weighing the importance of each thing

There isn’t enough time or money for you to do everything so you must actively prioritize

Big potential mistakes:

Going into debt - car, house, college, consumer

Wasting time

Not having an idea of what you want your life to look like

What to do?

Think about what a perfect day would look like for you

Try to be as realistic as possible (sitting around all day gets boring fast)

What can you do to design your day to look like that as much as possible?

Do this exercise often because it will motivate you and also it will change over time.

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