Debt

I don’t watch his shows but have always loved Anthony Bourdain’s books. Kitchen Confidential is among my most favorite books ever. It could be that as a teenager I worked in a kitchen for many years and the book appealed to my culture that I was experiencing at the time.

I do love hearing the inside story of people and this latest from Anthony on wealth, money, debt and enjoying life is pure gold :: https://www.wealthsimple.com/en-us/magazine/money-diary-anthony-bourdain

That was really the first time I started thinking about saving money. About not finding myself in that terrifying space, that uncertainty that goes back to childhood. Will the car get fixed? Will we be able to pay for tuition? In very short order, I contacted the IRS and I paid what I owed. I paid American Express. Since that time, I am fanatical about not owing anybody any money. I hate it. I don’t want to carry a balance, ever. I have a mortgage, but I despise the idea. That was my biggest objection to buying property, though I wasn’t in the position to pay cash.

Getting my first mortgage also freaked me out due to the debt load. I always borrowed for cars too and just figured it was about building credit worthiness. Fortunately I have never lost my shirt on a house deal. But I know so many people that became “house poor” or defaulted on a mortgage.

One of the wonderful things about my agent, Kim Witherspoon, is she always presents me with two options when approaching a business deal, particularly when it comes to books. She’ll say, ”Look, you could go with these guys and get a whole shitload of money upfront, or you could go with these guys, which is the morally right and loyal thing to do, and negotiate an amount of money that fits in with what we actually think you’re going to sell.” I like to make money for my partners.

It’s amazing to hear how he cares about everyone making money. Not just himself.

I’d like my daughter and her mom looked after, both while I’m alive and after. They shouldn’t have to worry if something bad happens, so my investments and savings are based on that. I’m super-conservative. Money doesn’t particularly excite or thrill me; the making of money gives me no particular satisfaction. To me, money is freedom from insecurity, freedom to move, time if you choose to make use of time. My investments advisor understands that I’m not looking to score big on the stock market or bonds. I have zero understanding of it and zero interest. Life is too short. I like a limited amount of mail, and a limited amount of conversations with people who make the investments. If the money’s not less money every time I look at it, I’m pretty happy. If it’s a little bit more, great.

That’s the best part for me. The family first mantra and the I want to have fun while I am alive. Life is too short – I need to constantly remind myself of that.

Sounds like a cool dude.

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