I'm curious for other immigrants with kids, how difficult is it to break from the more deterministic "study hardest for success" vs relaxing a bit to optimize for happiness and embracing the impact of luck.
"... break from the more deterministic "study hardest for success" vs relaxing a bit to optimize for happiness and embracing the impact of luck."
Ahh, yes - the third generation ...
"We are an immigrant nation. The first generation works their fingers to the bone making things; the next generation goes to college and innovates new ideas. The third generation snowboards and takes improv classes."[1]
Totally OT, but strangely, 30 Rock appears to be getting better every time I re-watch it. Most other shows tend to get on my nerves after a few times, but 30 Rock just keeps getting more enjoyable.
Good to hear that even if it's tiny, there is a small contingent who agrees. I took a portion of my savings in order to invest and have outperformed the index funds and basic allocations in my 401k and retirement accounts. I don't have a long enough track record (3 years thus far) to assume it can continue but my overall returns have consistently beaten SPY/DJI.
My sense is that investing is a skill and that you have to practice in order to get better. I've enjoyed the books of Thomas Bulkowski (http://thepatternsite.com/mybooks.html) and had fun doing it. Because it's not my primary retirement or savings it is less pressure and I try to minimize the gambling aspect instead relying on something more mechanistic.
With that said the current bull market keeps me humble; right now it's easy but if things take a turn I will try to be honest with myself and, if necessary, reallocate everything in index funds.
