Insights Blog
Be Like Lebron
Jun 19, 2023 // Adam Bruderly
LeBron James, the hometown kid from Akron, Ohio, has captivated my attention for many years, not just for his NBA scoring record or for securing Cleveland’s first championship in over fifty years, but more significantly for his deep personal commitment. What truly inspires me about Lebron is the astonishing figure of $1,500,000. This sum isn’t his single game earnings or weekly sponsorships, but rather the yearly investment in his own health and wellness, covering trainers, chefs, recovery tools, and more. His commitment to his fitness and longevity is unmatched as he continues to perform at a high level at the age of 38, which is a rarity in the NBA.
While most of us will not be allocating $1,500,000 per year, the invaluable lesson Lebron imparts is the necessity of reshaping our mindset. Investing in our health and wellness is indeed an invaluable investment, one that will yield long-term returns in the form of an improved quality of life, well-being, and overall happiness. If that kid from Akron consistently incorporates this approach into his annual plan, shouldn’t we think about doing the same?
What is Wealth?
According to Investopedia “wealth is measured by taking the value of all the assets of worth owned by a person. This is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts. Essentially, wealth is the accumulation of scarce resources.”
How Many Summers?
After my first son was born, I began to think about what the next phase of our lives looked like. We went from two busy professionals who could hop on a plane for a weekend trip, grab dinner, or chase endless weekend adventures to first time parents. We were 2,000 miles away from family trying to plan the one or two trips a year that we could see them which led me to ask this question, how many summers do we have left?
The Power of Time
Our humans are brains are instinctively wired to prioritize immediate needs and wants, such as quenching hunger, ensuring safety, or yielding to the allure of instant gratification. This is a survival mechanism that has evolved over tens of thousands of years to help us respond to threats, opportunities, and ultimate survival. However, this tendency to emphasize the short term can be counterproductive and have a detrimental effect when it comes to planning and our financial success.