Pure Independence
Morgan Housel
Independence is a key goal in life, offering freedom and individuality beyond just financial stability. It allows you to make choices based on your own values rather than the expectations of others. True independence involves both financial and intellectual freedom, enabling you to pursue your passions without outside pressure.
12 Apr 2025
It’s difficult as a parent to, on one hand, want to shower your kids with protection and help while, on the other, know how important it is to teach them independence. “Teach” is probably the wrong word, because you know they’ll figure it out on their own. Sometimes you provide the most help with the assistance you withhold.
If you have no strong views on what kind of life you want to live – who are you, what you desire, what makes you happy and what doesn’t – you’re likely to want to mimic the most visually appealing person you come across (often the person with the biggest house, fastest car, or nicest clothes). That may work, it may not.
And so it’s vital to constantly reflect on who you want to be, what kind of life you want to live, and ask if you’re on an independent path versus chasing someone else’s dream.
Charlie Munger once listed three practical rules for success:
• Don’t sell something you wouldn’t buy.
• Work for people you admire.
• Partner with people you enjoy.