Comments on: too big to fail

By: Creating too Big to Fail Apps « // TODO: Create Blog Title

Creating too Big to Fail Apps « // TODO: Create Blog Title — Wed, 01 Apr 2009 12:09:16 +0000

[...] too Big to Fail Apps I can’t help it. I read Steve’s post too big to fail on brip blap and I immediately apply its principle to life as a developer. The focus is about [...]

By: –› A White House Blog, Mortgage Rates, Taxes, and More!

–› A White House Blog, Mortgage Rates, Taxes, and More! — Wed, 21 Jan 2009 14:29:56 +0000

[...] Too big to fail [...]

By: Click It! 01.20.2009 - amanda lee dot org

Click It! 01.20.2009 - amanda lee dot org — Tue, 20 Jan 2009 22:43:50 +0000

[...] Words of wisdom from BripBlap: if you’re too big to fail, you’re too big. [...]

By: fathersez

fathersez — Sun, 18 Jan 2009 18:42:46 +0000

Great points! Still some things, by definition would have to be too big to fail. Like our health, family perhaps for many, etc.

On the material things, you have made a whole new perspective on diversifying.

Cheers

By: fathersez

fathersez — Sun, 18 Jan 2009 11:42:46 +0000

By: Steve @ bripblap

Steve @ bripblap — Thu, 15 Jan 2009 23:42:32 +0000

@bethh: I think it's got to be a mix, doesn't it? I've put some money in cash and I've kept a lot – in fact the majority – in investments. The failure to maximize growth is based on an assumption that may not be assured in the future: that growth will occur in the markets! It's been a long-standing belief that markets must inevitably rise, but I think we'll see it tested over the next decade – we may have a long, slow stasis. We'll see – but for now I'm hedging my bets.

By: Curmudgeon

Curmudgeon — Thu, 15 Jan 2009 19:58:49 +0000

What a great way of making the point, Steve. And too big to fail can apply to a lot of aspects of our lives – house, debt, income, expectations and aspirations, and so on. You may be making the argument (which I have tended to believe) that it is better to be a generalist in your life, rather than a specialist.

For many years I have had multiple income streams – my LLC and its clients have traditionally accounted for 30-60 percent of my income. One downside of this strategy is that I work a lot of hours, and some periods are much busier and others, as both the salary work and my LLC hit peaks. I wish I could control it better, but we are subject to market trends. Today, many more companies seem to be outsourcing the work I do in my LLC, and at the same time I am filling two full-time roles in my day job.

By: Jules @ Lovely Las Vegas

Jules @ Lovely Las Vegas — Thu, 15 Jan 2009 13:48:23 +0000

True — the current state of the economy (and all that lead up to it) has opened my eyes to the fact that you can't rely on one source of income (whether it be your IRAs for retirement or your paycheck during the working years). This has instilled a baseline caution in me and reinforced my desire to be proactive with my financial choices.

By: Ryan@SpillingBuckets

Ryan@SpillingBuckets — Thu, 15 Jan 2009 10:45:17 +0000

Well said. We are learning that any kind of “eggs in one basket” or deferred life plan is set up for trouble.

“Happiness is not something you postpone for the future; it is something you design for the present.” – Jim Rohn

By: Sam

Sam — Thu, 15 Jan 2009 00:49:05 +0000

You make a very good point. We should all try not to become 'too big to fail'. Too many people (including myself) rely on their job. I am trying to make it so I am not so reliant. Brilliant post, really got me thinking.