Kid “invests” $700k inheritance and loses $150k in hours.

I’ve heard that quote before (it’s a funny comment) but I don’t understand what advice Mike is giving. Spending time planning is a waste of time? Or just a cautionary note that you don’t always succeed with planning and preparation (sometimes natural skill and genetics gifts will succeed over others who put in the time to prepare whom are less gifted?). Just never understood the advice.
I think the lesson in this quote is that you should have a plan, but you need to have contingency plans for when things go way different than expected. Even then, you will get totally unexpected surprises, so you have to be prepared to realize when the old plan has gone out the window, and it's time to adjust and improvise on the fly.

If you have this mindset ahead of time, you will be better prepared when you get punched in the face.
 
Back
Top