{"id":730,"date":"2021-08-08T17:42:52","date_gmt":"2021-08-08T09:42:52","guid":{"rendered":"https:\/\/rexy.cafe\/?p=730"},"modified":"2021-09-23T22:09:09","modified_gmt":"2021-09-23T14:09:09","slug":"fixed-mindset-vs-growth-mindset%ef%bc%9a-the-fisherman-and-the-businessman","status":"publish","type":"post","link":"https:\/\/rexy.cafe\/fixed-mindset-vs-growth-mindset%ef%bc%9a-the-fisherman-and-the-businessman\/","title":{"rendered":"Fixed Mindset vs Growth Mindset\uff1aThe Fisherman And The Businessman"},"content":{"rendered":"\n<p>Before we dive into the &#8220;Fixed Mindset vs Growth Mindset&#8221; topic, let&#8217;s check out this little story about values and paradox. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_51_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\" role=\"button\"><label for=\"item-65efa3a121d18\" ><span class=\"\"><span style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input aria-label=\"Toggle\" aria-label=\"item-65efa3a121d18\"  type=\"checkbox\" id=\"item-65efa3a121d18\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/rexy.cafe\/fixed-mindset-vs-growth-mindset%ef%bc%9a-the-fisherman-and-the-businessman\/#The_Story\" title=\"The Story\">The Story<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/rexy.cafe\/fixed-mindset-vs-growth-mindset%ef%bc%9a-the-fisherman-and-the-businessman\/#How_Much_Money_You_Need_To_Be_Happy\" title=\"How Much Money You Need To Be Happy\">How Much Money You Need To Be Happy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/rexy.cafe\/fixed-mindset-vs-growth-mindset%ef%bc%9a-the-fisherman-and-the-businessman\/#Paradox\" title=\"Paradox\">Paradox<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/rexy.cafe\/fixed-mindset-vs-growth-mindset%ef%bc%9a-the-fisherman-and-the-businessman\/#How_To_Change_And_Have_More_Options\" title=\"How To Change And Have More Options\">How To Change And Have More Options<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/rexy.cafe\/fixed-mindset-vs-growth-mindset%ef%bc%9a-the-fisherman-and-the-businessman\/#How_Much_Money_You_Need_To_RetireFIRE\" title=\"How Much Money You Need To Retire\/FIRE\">How Much Money You Need To Retire\/FIRE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/rexy.cafe\/fixed-mindset-vs-growth-mindset%ef%bc%9a-the-fisherman-and-the-businessman\/#A_Great_Example_Of_How_To_Plan_Your_FIRE\" title=\"A Great Example Of How To Plan Your FIRE\">A Great Example Of How To Plan Your FIRE<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Story\"><\/span>The Story<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A rich businessman visited a small island for a vacation and he hired a fisherman to be his tour guide. After a few days of getting along, the businessman said to the fisherman:<\/p>\n\n\n\n<p>&#8220;Why don&#8217;t you buy a new fishing boat so that you can catch more fish and make more money?&#8221;<\/p>\n\n\n\n<p>The fisherman said, &#8220;What then?&#8221;<\/p>\n\n\n\n<p>Businessman: &#8220;You can buy second and third fishing boats and have your own fleet if you save the money that you earn.&#8221;<\/p>\n\n\n\n<p>&#8220;and then?&#8221; said the fisherman. <\/p>\n\n\n\n<p>Businessman: &#8220;You have the capital to start a fish canning factory and sell the products all over the world.&#8221;<\/p>\n\n\n\n<p>&#8220;and then?&#8221; said the fisherman. <\/p>\n\n\n\n<p>Businessman: &#8220;Just like me, you can spend a leisurely vacation on this island once a while every year and enjoy your life.&#8221;<\/p>\n\n\n\n<p>The fisherman replied to the  Businessman :<\/p>\n\n\n\n<p>&#8220;But, I&#8217;ve already spent my holidays on this island every day to enjoy my life?&#8221; After speaking, both of them were silent. <\/p>\n\n\n\n<p>Finally, the businessman left a word:<\/p>\n\n\n\n<p>&#8220;Maybe you think you can always spend your holidays on this island, but this kind of life is only a small part of me.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Much_Money_You_Need_To_Be_Happy\"><\/span>How Much Money You Need To Be Happy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is very true that you don&#8217;t have to possess a huge amount of wealth to be happy. <\/p>\n\n\n\n<p>A wonderful date with your girlfriend\/boyfriend can make you happy. Nice afternoon tea with friends and family can make you happy. A little chat\/gossiping with your colleagues in the tea room can make you happy. It&#8217;s not rocket science to make ourselves happy. <\/p>\n\n\n\n<p>Some people think that &#8211;<br>&#8220;I don&#8217;t need too much money and I&#8217;m doing just fine. <a href=\"https:\/\/www.urbandictionary.com\/define.php?term=Comfy\" target=\"_blank\" rel=\"noopener\">Comfy<\/a> and cozy.&#8221; <br>&#8220;Why do I have to bust my ass off?&#8221;<br>&#8220;Is it really worth spending so much time working and miss out on the moments I should enjoy?&#8221;<\/p>\n\n\n\n<p>Just like the fisherman who thinks he has achieved the ideal life he wanted. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Paradox\"><\/span>Paradox<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>But this kind of life is only a small part of me. <\/p><cite>-The Businessman <\/cite><\/blockquote>\n\n\n\n<p>It leads us to think differently. Meaning the life of the fisherman looks very satisfying but actually, he doesn&#8217;t have &#8220;OPTIONS&#8221;. <\/p>\n\n\n\n<p>His income completely depends on the catch, once he stops working, then 0 income. <br>He doesn&#8217;t have any savings, it&#8217;s extremely difficult for him to leave the island. <br>He won&#8217;t be able to buy a new car or a new fishing boat. <br>He can&#8217;t provide for his kids to receive a better education.<br>If the environment changes, he might face a decrease in the catch and it would be hard to maintain the current lifestyle he had. <\/p>\n\n\n\n<p>To be honest and cruel, the fisherman doesn&#8217;t have any strength to deal with the &#8220;RISKS&#8221; in his ideal cozy lifestyle. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_To_Change_And_Have_More_Options\"><\/span>How To Change And Have More Options<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"540\" src=\"https:\/\/rexy.cafe\/wp-content\/uploads\/2021\/08\/Fixed-Mindset-vs-Growth-Mindset.png\" alt=\"Fixed Mindset vs Growth Mindset\" class=\"wp-image-755\" srcset=\"https:\/\/rexy.cafe\/wp-content\/uploads\/2021\/08\/Fixed-Mindset-vs-Growth-Mindset.png 960w, https:\/\/rexy.cafe\/wp-content\/uploads\/2021\/08\/Fixed-Mindset-vs-Growth-Mindset-300x169.png 300w, https:\/\/rexy.cafe\/wp-content\/uploads\/2021\/08\/Fixed-Mindset-vs-Growth-Mindset-768x432.png 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n\n\n\n<p>So how do we escape from the situation like the fisherman? How to change it and make us have more options and fewer risks?<\/p>\n\n\n\n<p>To do that, let&#8217;s take a look at what scientists have told us. ( by the extensive research of Stanford psychologist <a href=\"https:\/\/profiles.stanford.edu\/carol-dweck\" target=\"_blank\" rel=\"noreferrer noopener\">Carol Dweck<\/a> )<\/p>\n\n\n\n<p>A Fixed Mindset : <\/p>\n\n\n\n<p>The perspective of a Fixed Mindset is that intelligence and talent are attributes you are born with; they are fixed and permanent. There is no room for mistakes in any situation because mistakes are evidence of failure that prove you&#8217;re not really smart or talented after all. If you were, you would not have to work at it- whatever it is; having to make an effort is evidence of deficiency. And because each performance is seen to be an eternal measure of your ability, failure feels dangerous; it defines you forever. <br>You can see how fear of failure springs from the Fixed Mindset and leads, in turn, to procrastination. When things get hard, people with a Fixed Mindset retreat and lose interest. They don&#8217;t want to do anything that might prove their inadequacy &#8211; or, we would add, their unworthiness. Procrastination protects people from taking a risk that might result in failure, which from a Fixed Mindset perspective would be a life sentence of inadequacy.   <\/p>\n\n\n\n<p>A Growth Mindset :<\/p>\n\n\n\n<p>The central belief in this mindset is that abilities can be developed; with hard work and effort, you can get smarter and better over time. In a Growth Mindset, effort is what makes you smart or good at something; it is what &#8220;ignites ability and turns it into accomplishment.&#8221; From this perspective, you don&#8217;t have to be good at something immediately. In fact, it&#8217;s more interesting to do things you&#8217;re not good at, because that&#8217;s a way to stretch yourself and to learn. People with a Growth Mindset don&#8217;t just seek challenges; they thrive on them. Failures may hurt or disappoint, but they don&#8217;t define a person. In fact, failure becomes a reason to redouble effort and work harder, rather than to give up, retreat, and &#8230; procrastinate. <br>Adopting the Growth Mindset is one way to undo the self-worth equation. Not only performance not reflect your value as a person, but performance is no longer a central concern! What matters is what you learn, what you feel excited about, and how you&#8217;ve improved, while outcome moves to the background. The definition of &#8220;ability&#8221; is no longer a fixed entity; it is something that can change and develop. There&#8217;s no longer anything to prove. As <a href=\"https:\/\/profiles.stanford.edu\/carol-dweck\" target=\"_blank\" rel=\"noreferrer noopener\">Dweck<\/a> asks so compellingly, &#8220;Is success about learning &#8211; or proving you&#8217;re smart?&#8221;<\/p>\n\n\n\n<p>A Fixed Mindset And A Growth Mindset Content Originated From The Book &#8220;<a href=\"https:\/\/www.amazon.com\/Procrastination-Why-You-What-About\/dp\/0738211702\" target=\"_blank\" rel=\"noreferrer noopener\">Procrastination: Why You Do It, What to Do About It Now<\/a>&#8221; <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-amazon wp-block-embed-amazon\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Procrastination: Why You Do It, What to Do About It Now\" type=\"text\/html\" width=\"500\" height=\"550\" frameborder=\"0\" allowfullscreen style=\"max-width:100%\" src=\"https:\/\/read.amazon.com\/kp\/card?preview=inline&#038;linkCode=kpd&#038;ref_=k4w_oembed_loz7JqcBRifVAn&#038;asin=0738211702&#038;tag=kpembed-20\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>The Businessman already told us how to do it. Have a Growth Mindset, keep open-minded and willing to make changes, to learn, to put in the effort. And create passive income streams for ourselves in the long term. <\/p>\n\n\n\n<p>Now let&#8217;s get back to the start and ask ourselves this question &#8211;  <br>&#8220;If I&#8217;m doing just fine, should I put in the effort and work really hard to pursue my Financial Independence?&#8221;<\/p>\n\n\n\n<p>There are times that we wanted to change but because the current status is not bad, we didn&#8217;t take any action. Should we fight hard, or should we stay stable? In fact, it only depends on how many choices and options we want to have.<\/p>\n\n\n\n<p>Just BE HONEST with yourself. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Much_Money_You_Need_To_RetireFIRE\"><\/span>How Much Money You Need To Retire\/FIRE<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Everybody has their own desired lifestyle. Only you know how much money you need every month to have a happy retirement life. According to the FIRE(Financial Independence Retire Early) movement, 4% is the magic annual ROI number. <\/p>\n\n\n\n<p>One of my friends, he&#8217;s making 50,000 USD annually in New York and he&#8217;ll have after-tax 39,286 USD left to spend.<br>  39,286 \/ 12 = 3,273  \u23e9  This is his current living standard. Even NOT to consider inflation at all. <br>If he wants to have 3,273 USD at his disposal every month after retirement, then he gotta have AT LEAST an accumulated capital of 982,150 USD with the 4% rule. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"A_Great_Example_Of_How_To_Plan_Your_FIRE\"><\/span>A Great Example Of How To Plan Your FIRE<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container\" style=\"height: 100%;\"><iframe loading=\"lazy\" title=\"Our Plan to Retire in 8 Years | Financial Independence Retire Early | $1.9MM Target\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/WScd62Xjh6I?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Before we dive into the &#8220;Fixed Mindset vs Growth Mindset&#8221; topic, let&#8217;s check out this little story about values and paradox. The Story A rich businessman visited a small island for a vacation and he hired a fisherman to be &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/rexy.cafe\/fixed-mindset-vs-growth-mindset%ef%bc%9a-the-fisherman-and-the-businessman\/\"> <span class=\"screen-reader-text\">Fixed Mindset vs Growth Mindset\uff1aThe Fisherman And The Businessman<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":1,"featured_media":754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[12,14],"tags":[],"modified_by":"Rexy","_links":{"self":[{"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/posts\/730"}],"collection":[{"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/comments?post=730"}],"version-history":[{"count":0,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/posts\/730\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/media\/754"}],"wp:attachment":[{"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/media?parent=730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/categories?post=730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rexy.cafe\/wp-json\/wp\/v2\/tags?post=730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}