Be Average In Most, Just Not With Your Money

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5 min
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As a third-generation financial advisor, Tom Stadum carries on the tradition of his grandfather and father by delivering comprehensive financial plans, prudent investment strategies, and timely service.
June 17, 2023

Good Reads


“I would almost say that the conditions that we need to see in place to get inflation down are coming into place.” Jerome Powell on inflation

A Suggestion

Be Average in most, just not with your money. A hallmark of success is understanding what you are average at, being ok with that, and stacking all your chips on what you are good at.

Don’t think Michael Jordan was competing on cooking shows at the height of his career, he was focused on what he was great at, winning championships.

Michael Jordan is probably very content being a below average cook because he’s a champion and one of the best that played the game.

Albert Einstein once said, “By definition, it is not possible for everyone to be above average.”

Yet many people walk around thinking they are above average, for good reasons, and in many ways, not good.

Average is not bad. I personally am 100% ok being average with my health. I eat OK, I am active but don’t exercise enough, I am a healthy weight, though probably would be consider skinny fat. I am athletic, but am far past my prime.

And I am ok with that.

Why? Because I know what it would cost for me to be above average, and I am not willing to sacrifice my time with my young kids to have a chiseled physique.

As an entrepreneur, I’ve come to realize that I am not a great operator, while Dan, is much better at the day to day of the business. I am average, and that’s ok. Our company, our team, and our clients are better off because I know that I am average their and excel in other areas.

To me, in most areas of life, being average is being content. And I find being content is one of the most fulfilling feelings. Do I want more, of course, but I am ok with the vast amount of averageness in my life while I pursue just a few areas of excellence (writing, entrepreneurship, and family).

But there is one area of life that we should not strive to be average, and that is financially.

According to a recent survey by CNBC found that 70% of Americans feel stressed financially. Or put another way, the average American is stressed about money.

Furthermore, at any age band, financially speaking, the average American’s balance sheet is stretched.

An average financial life in our country leads to credit card debt, hours a week feeling stressed, working on financial problems vs working on getting ahead, dead end careers, etc.

Not a great spot to be average.

The above average financial life, on the other hand, is one of confidence, no bad debt, growing asset bases, free time and time spent with your family, not stressing about money.

The above average financial life is the dream, one worth pursuing.

For me, my above average financial future rests upon the success of our business, to you, it looks different. But one this is for sure, we need to keep seeking and pursuing the above average financial life and stop worrying about things that are ok to be average.

Appreciate you all. Let’s be average in most and exceptional in a few areas, money being one of them.

See you next week.

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