Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship pdfdrive com



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UNSCRIPTED Life, Liberty, and the Pursuit of Entrepreneurship ( PDFDrive )

THE THREE POTS OF ALLOCATION
So let’s get to the juice. An effective 
UNSCRIPTED
money system is allocated
into two pots and an optional third. The size of these pots is dependent on your
lifestyle goals as well as your risk tolerance for each item they represent.
1.
The “fuck you” pot
2.
The home pot
3.
The paycheck pot
Visually, the 
UNSCRIPTED
money system looks like this:
THE “FUCK YOU” POT


The “fuck you” (FU) pot is idle cash sitting in brokerages and money-market
accounts, usually doing nothing, and yes, making nothing. The point of the “fuck
you” pot is not about yields or returns, but about options, or 
choices
.
For example, if you want to invest in start-ups, become an angel investor, or
dabble in Las Vegas poker tournaments, the FU pot is where you do it. If your
old high school pal is the founder of a hot new start-up and he’s accepting equity
investments, you can be the lead or the seed. If you want to dance Wall Street’s
waltz and buy a bunch of biotech stocks, hoping they explode to the upside, the
FU pot is where you draw from. If your dream house comes up for sale and,
lucky you, it’s a foreclosure sale, the FU pot gives you the chance to steamroll the
competition with a fast-close, cash offer.
Many folks in the financial world will sneer about idle cash not invested in
the market, often using the inflation argument. Yes, inflation is real, but its real
cost impact to an 
UNSCRIPTED
life is negligible. I don’t lose sleep over sixty-two
dollars and eighty-seven cents—the nominal yearly cost increases of electricity
and bread, respectively.
When Kyle, my trusty neighborhood financial advisor, called me, he
mentioned inflation and argued my cash should be “working.” He didn’t
understand this account was my FU pot. He didn’t understand what it
represented: 
a liquid call option on opportunity.
Money pooled in the “fuck you” pot is money you’re willing to risk and lose,
but its loss does not endanger your lifestyle. Losses from the FU pot should not
negatively impact your life, other than depleting the pot for the next speculative
venture. If catastrophic losses impact your 
UNSCRIPTED
lifestyle, you are
violating discipline and, technically, risking a rock-star fall from grace. In effect,
the FU pot is “play money”—enhancing your lifestyle or expanding the other
pots.


THE HOME POT
The optional home pot is your dream home, owned free and clear without a
mortgage. While mortgage interest can be deducted on your tax returns,
spending one dollar to save thirty-three cents never makes sense, whatever your
tax bracket. Your biggest lifetime expense will be your home. If you remove this
expense, money will never be an issue. The other alternative (and why the home
pot is optional) is to have your next pot—the paycheck pot—
large enough
to pay
your monthly mortgage nut (or rent) without stress or issue.



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