I sold everything
Summary
- I sold two businesses for just under $50 million along with some exotic cars and a house in Austin to reset my life.
- My goal was to live with minimal belongings, travel, and determine where I wanted to settle down.
- I prefer living in a location where nature, restaurants, a quality gym, and a grocery store are within walking distance.
- The ideal house for me includes a view of water or mountains, super-fast Wi-Fi, a hot tub or pool, an office, a studio, a minimum of three bedrooms, and a spacious balcony or patio.
- I look for homes in zero-tax states and in areas easily accessible by Amazon Prime.
- Having lived in many cities, I know that experiences are largely based on specific neighborhoods and the people around you.
- After selling everything, I traveled with my wife and realized that having belongings and a stable home is important for maintaining relationships and having a sense of familiarity.
- Hedonic adaptation teaches us that the novelty of new acquisitions wears off, and I experienced it with cars and temporarily swapping them.
- I've learned that status symbols like a Bentley for $300,000 don't bring lasting happiness; they're not worth the investment for me.
- For travel, private jets make the experience positive by reducing transit hassles and recovery time, making sense to me given my income.
- My unifying decision-making theory for material goods is to prioritize function over form.
- I wear simple cotton tank tops for comfort and prefer expensive flannels that fit me well.
- To reduce clutter, I only add new clothing if it has high utility and replaces something of lower value.
- My long-term plan is to have 2-3 homes in different climates to enjoy variety without feeling nomadic.
- The "middle path" of balanced material possessions works best for me, where the utility of an item is the main criterion for choosing whether to own it.
- By having a decision-making algorithm like this, I save mental bandwidth for new choices rather than reevaluating old ones.
Video
How To Take Action
A good way of doing things is to start small and easy. Here are some steps you could use from what I've learned:
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Make a Must-Have List: Write down what's most important in your life like I did. If a good gym or certain foods matter to you, put them on the list. This helps you know what you really need.
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Choose Function Over Form: When you buy things, think more about how they'll help you, not just how they look. Get clothes or tools that work well, not just fancy ones.
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Declutter Your Space: Try living with less. If you get something new, maybe give away something you don't use anymore. It can make you feel better and less crowded.
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Plan for Comfort: While traveling is fun, having a home base is nice too. It gives you a place to come back to and keeps you connected with friends and family.
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Adapt to Happiness: Remember that new stuff is exciting at first, but the feeling doesn't last. Only keep things that make you happy over time.
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Be Smart with Money: If you're doing well with money, it's okay to spend some for good experiences like faster travel, but only if it makes sense for you. Don't waste money on things just for status.
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Think About Location: If you're moving or setting up a business, choose a place with the things you want close by. A good environment can change your whole experience.
By having this kind of plan, you can save time thinking about what to do. You use that saved time to make new choices instead of going back to old ones.
Quotes
"I've lived my life in seasons"
– Alex Hormozi
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"I wanted things to be walking distance from me"
– Alex Hormozi
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"Having a grocery store really nearby… it's actually very convenient"
– Alex Hormozi
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"I wanted to have a way to meet lots of neighbors that were interesting"
– Alex Hormozi
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"Form over function… improved function is what I make all my decisions based on"
– Alex Hormozi
