• 02:01:37 am on August 1, 2008 | 2

    Frankly, I am surprised that I haven’t received more questions along the lines of Debbie’s question about encapsulating her Life’s Purpose in a short statement.

    I mean, if you think about it, how can you possibly capture the most infinite of concepts in the most finite of methods … a simple sentence fragment?

    Yet, it may work for you as it did for me, so here’s Debbie’s question:

    I am still struggling with this 🙂  I would say I’m ‘overthinking’ it but considering what it is, I guess that’s not really possible.  Each time I think I’ve come close, I realize what I’m writing down is just a list of things I want to do, have, see, experience…  any tips for taking that and making it in a short statement of purpose?

    All I can tell you is what I learned from doing this exercise …

    … you will fail the first time that you do this!

    How do I know? Because I failed, too.

    The first thing that I came up with was “to experience everything” … seemed pretty profound, pithy, and cool … at least at the time. So, I went with it …

    … for a while.

    Then IT suddenly popped into my head – the line buried deep in my Rear Deck Speech:

    I want to travel physically, mentally, and spiritually.

    And, I realized that was it for me. For me, this came relatively quickly and hasn’t changed in around 10 years now.

    For others, it may come much more slowly – perhaps months later something will suddenly ‘pop’ for you, too.

    Even when you think you have IT – your Life’s Purpose – the chances are it isn’t … but, that’s OK.

    Simply give it your best shot now and plan your finances accordingly …

    … if something different pops up in the future, simply alter plans, shift course, change gears.

    By the way, this isn’t a test … this is for you, and you alone, and we will revisit and examine this subject more closely once we select the Final 7, because we’re humans …

    … we’re allowed – nay expected – to change course from time to time 😉



  • Ryan 5:01 pm on August 1, 2008 | #


    I agree about the “mantra” type life purpose statement, it’s impossibly difficult but a great exercise!

    On a seperate note, regarding “the number”. I know you’ve touched on this briefly before, but when considering a multi-million dollar home to live in during retirement, would you suggest putting in a number to rent or to pay for a mortgage? If for a mortgage, do we assume a certain percentage down? And what kind of interest rate can we assume we’ll get in 10-20 years?


  • AJC 12:03 pm on August 2, 2008 | #

    @ Ryan – I’m assuming 100% cash, mate! Alternatively, you multiply your rental or mortgage payment by 20 (to 40) to make sure that you have enough investment income to make the payment. If you have a fixed mortgage, you could actually multiply by only 10 because it won’t inflate.

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