For the First Time: I Figured Out My "Why"

Good morning!

I hope this finds you well.

Welcome to another edition of The Matt Viera Newsletter.

The newsletter with the goal to inspire you to live the life you actually want to live.

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Did you have a lovely relaxing weekend this past weekend?

I'm willing to bet money you did.

I mean, generally speaking, two days in which you don't have to wake up to an alarm clock, and you can let your weekend days develop organically has to be good, right?

Works for me.

I spent some time this weekend with my good friend Bruce.

Bruce recently retired and is looking forward to diving deep into living the life he actually wants to live, especially with traveling, exploring the world, and pursuing his passions.

We had a lengthy conversation over a few drinks in which we discussed finances, where we traveled over the summer, and future plans.

One question he asked me during our conversation resonated with me.

Concerning this newsletter, he asked me, "What's your 'why'?"

That's a great question and one I've been wrestling with.

Trying to figure out the answer led me to more questions:

"Why are you doing what you're doing?"

"What are you trying to accomplish by doing what you're doing?"

After some reflection, I figured it out.

In determining my "why," I decided to reflect on who I am and what I'm trying to do.

As to who I am - that is defined by my life experiences, what I enjoy, and what I am curious about.

I am a US Army veteran, an attorney, and an educator.

Let's reverse-engineer these three elements:

As an educator, I aim to educate you on how to take control of your finances so you don't have to live under the yoke of trading your time for money for decades.

Trading your time for money for decades is what some would call the so-called "trap" of the American dream: start a career, buy a house (with a 30-year mortgage), accumulate debt to furnish the house and buy "stuff," buy a car or two (with the accompanying car notes), increase your salary, buy a bigger house, accumulate more debt to buy more stuff, trade in the cars for luxury models, and the cycle is continuously repeated.

There's nothing wrong with any of these things per se.

The problem arises when you live way above your means (and in debt).

Also known as lifestyle inflation.

Do you NEED a bigger house?

Do you NEED all the stuff you've accumulated?

Do you NEED to trade in a perfectly good car for a luxury model?

If so, why?

What's the quote?

"Stop buying things you don't need trying to impress people who don't care."

Wouldn't you rather live without credit card debt?

Wouldn't you rather live in a house without a mortgage?

Wouldn't you rather drive a car so you don't have to make monthly car payments?

Listen, this is a judgment-free zone. I'm not here to judge. I've made my share of financial mistakes and spent money on things I don't need just because I can.

And, of course, it's always easier said than done.

But wouldn’t you rather live without debt so you can use your paid time off for a valuable life experience?

Which brings me to the next element:

As an attorney, I am an advocate.

An advocate is "a person who publicly supports or recommends a particular cause or policy."

While I appreciate that everyone may have to work a 9-5 career (I certainly have to at this point in my life).

I support and recommend that there's a better way to live while you're working your career.

By taking control of your finances (and paying off debt), you can use your surplus money to invest in appreciable assets and build your retirement account.

You can also invest in life experiences.

Life experiences gained by traveling and exploring the world (or doing whatever you want to do without worrying about accumulating more debt).

An investment in life experiences is one of the best investments you can make.

I am passionate about traveling and exploring the world.

A passion I developed by serving 8 years in the US Army.

The experience allowed me to travel to and live in countries worldwide.

A passion I doubt I would've developed but for serving in the US Army.

For me to pursue this passion at this point in my life (because I am not going to become a millionaire tomorrow), I decided to take control of my finances.

I track my spending daily.

I carry no credit card debt.

I calculate my net worth monthly.

I invest both pre-tax and post-tax income into appreciable assets with every paycheck.

I take advantage of my paid time off to continue exploring the world every chance I get until I have the financial security to stop trading my time for money so I can pursue my passion full-time.

As of today, the only debt I am carrying is a private student loan and a car payment.

That's it.

Both of which will be paid off in 5 years or less.

Once both of these are paid off, I'll have an additional ~$500 monthly to save, invest, and continue building my retirement account.

Plus, to continue to build financial security, I decided to try to accomplish a new financial goal: saving/investing 50% of my post-tax income over the next 9 months.

I already contribute 22% of my pre-tax income into my employer-sponsored retirement account and save/invest ~20% of my post-tax income.

It's not perfect. I'm not trying to flex. And I'm still trying (and will continue) to figure it all out.

However, if I can do it on a low 6-figure salary while living in the most expensive city in the world - so can you.

So what is my "why" exactly?

To educate and advocate for a better quality of life to anyone willing to listen.

To help you understand that while you may have to work a 9-5 job, you can still enjoy your life outside of your career by optimizing your finances to take full advantage of your paid time off.

To be as transparent as possible concerning money and life experiences in pursuing my passion to help you realize you can pursue yours.

To inspire you to live the life you actually want to live.

So I ask you:

Why do you do what you do, professionally or otherwise?

What are you trying to accomplish by doing what you're doing?

What is your "why"?

Interesting reads:

Considering leaving the US for good? Here’s what to think about before you move abroad

Thanks for reading!

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