This post was originally shared in my DT Email Newsletter here.
I used to work in an industry where it’s a never-ending race of social comparison.
We climb up the corporate ladder, we get promoted, we make more money. But this climb keeps shifting our financial goalposts.
We start to see what others around us do. We want more: fancier cars… bigger houses… It’s never enough.
John Bogle was the founder and CEO of The Vanguard Group. He pioneered the first index fund. He passed away in 2019.
He once said in a speech I’ll never forget:
“Here’s how I recall the wonderful story that sets the theme for my remarks today:
At a party given by a billionaire on Shelter Island, the late Kurt Vonnegut informs his pal, the author Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch 22 over its whole history....