Hi Shanyou,

You said “我现在看周围的人，不是看他自己专业上干的怎么样，因为对绝大多数人干的再好也好不到哪里去” I totally agree. Looking around (including those Morgan Stanley EDs), I think 2% to 4% of my former colleagues/classmates are senior managers (above ED) in big companies across greater China (Not sure for how many years) and everyone else seems to be somewhere behind, in terms of salary.

Note the junior ED and Director in many ibanks are basically team leaders in charge of a few guys, but they are usually paid pretty well, around 200k.

Some specialists can probably earn more. But comparing salary is extremely touchy, irrational, unreliable, and not based on verifiable facts. We all try to be rational and philosophical about peer comparison. I wonder what is a simple, fair and realistic yardstick to see who among us can be a role model.

Obviously health and vitality, harmonious family, comfortable cash flow are basic foundations of “good life”, but what else?

In 2003 a friend of mine (Qi ChongLei) introduced to me his simple concept of “easy life” as a long-term personal goal. He is diligent and knowledgeable (now a senior manager in EBay China). Influenced by him, now I feel a simple yardstick is something like “bare-bones financial freedom to sustain an easy life“. My idea of “easy life” is more like “minimalist lifestyle”. I won’t elaborate, but those peers who don’t need to work are the luckiest even if their lifestyle becomes minimalist. Call them Group A.

If that’s impossible, then some peers can take any simple low-paying job and still live a simple-yet-comfortable life. Low-paying like pretax 50k / year. I think these peers are very lucky simply because they are free to take a break any time. These peers probably hit Level two of 6 levels@ffree #US perspective . I now feel these are the realistic role models. Call them Group A-.

I assume most of us are not in Group A or A-. Perhaps you know someone in Group A- but he may not feel that way about his life.

And then, there’s group F — many peers actually struggle on the “foundation” level — failed marriage; serious chronic illness; problem kids (Note academically mediocre kids like my son are fine kids) ….

A friend has such limited marketable skills that he can’t find any other job so he has to accept shitty tasks imposed by his boss, and work under constant pressure. Another friend is forced to work 7 full days a week. I said this is illegal. He said the U.S. labor law doesn’t really protect him, due to legal cost, legal evidence … Even if he wins he would lose his job soon.

I have more than one close friend who have only three-digit savings and/or heavy debt. High interest payments. Uncomfortable cash flow.

I classify these guys as Group F, perhaps unfair to them. Some of these individuals might have some level of financial success (even freedom) but not my role model. Financial freedom is the wrong priority, the most important but not the dominant criteria for a role-model.

— my top strengths in SelfMgmt, as I told grandpa in a 2019 call from Bayonne

AAA cash flow - burn rate including debt
A   cash flow - passive income
A-  cash flow - 30Y balance sheet mgmt
AA  #1) cash flow
AA  tech IV - QQ
A-  tech IV - algo @WallSt
A   #2) tech IV
A-  #3) wellness

Each is an extremely important strength. ( Some of them are probably viewed as competitive “advantages”. )
I only need to be really good at one of them to be rather successful.

However, in reality I’m “generally good” not “gr8” at any.

They each provide a cushion/buffer against the “blows” in our lives. No perfectionist please — No cushion can be perfect as life is full of adversities and setbacks.