Tom Bilyeu, the host of the Impact Theory sits down with James Altucher to discuss how James chose himself through the ups and downs in life where he made millions and busted them and the daily practices he has chosen that will transform how life is lived.
James Altucher (@jaltucher) is an Entrepreneur, Investor, Hedge Fund Manager, Author, and Podcaster. He has published 20 books including the Wall Street Journal Bestselling Book, Choose Yourself: Be Happy, Make Millions, Live the Dream. James hosts the podcast, The James Altucher Show which was started in 2014 and has had guests including Sir Richard Branson, Ray Dalio, Mark Cuban, Peter Thiel, Tim Ferriss, Arianna Huffington, and Tony Hawk.
Enjoy the Impact Theory James Altucher Podcast Notes covering quotes, daily practices, and living life on own terms.
Here are the key takeaways from the conversation.
- Money is not the goal but is only the means towards other goals
- Altucher was a writer since 1991 and has written for notable publications including The Wall Street Journal and The Financial Times
- After busting $10 million he made from selling his first company through bad investments, James contemplated suicide because he had two kids to take care of and thought that his life insurance of $4 million will take care of his kids.
- After riding the wave of success but finding himself at the bottom each time, James realized that he had to change something.
- He thought about his failures and successes and came up with 4 daily practices to improve his Physical, Emotional, Creative/Mental, and Spiritual Health.
- James Altucher wants to live life on his own terms and find ways that help him achieve his mission and also document his way so that it might help other people in similar situations.
- James Altucher got the jamesaltucher.com domain from a person who registered the domain for him as a gift in 2004. It was only in 2009, he reached out to the person and received the domain.
- James Altucher continues to share his thoughts and experiences on the blog on his personal website
JAMES ALTUCHER QUOTES
- “I thought money was the goal and not just the means towards other goals.”
- “Every moment in your life has only added up to where you are right now. So, if you don’t feel like you’re a success, everything you’ve done before has added up to right here. So, you’ve got to do something a little different.”
- “My purpose is to live the life I want to live and not the life anybody else wants me to live.”
JAMES ALTUCHER ON WRITING
- James Altucher believes that writing is a hard thing to do as the writer’s job is to take a story clear inside the writer’s head and teleport into the heads of thousands of strangers.
- James never gives advice to people in his writings. He only tells them what worked for him which they can try and see if it works for them too.
- It was only from 2009-2010 that James Altucher started writing raw, personal, and honest thoughts on how he felt about things.
4 THINGS TO DO EVERYDAY
After making his fortune for the third time and busting it all again, James Altucher was lying on a hammock while it rained but he had no motivation to get up and move.
He realized that he had to break the cycle of hitting the ebb hard every time and introspect himself. It was then and in the days ahead that he put together the four things to do every day to make him better.
- Physical Health (Eating, Sleeping, and Moving Better)
- Emotional Health (Eliminating Toxic People and Keeping Positive People)
- Creative/Mental Health (Working the Idea Muscle – Writing 10 Ideas Everyday)
- Spiritual Health (Doing the best and not worrying much about things that cannot be controlled)
PURPOSE IN LIFE FOR TOM BILYEU AND JAMES ALTUCHER
- Tom Bilyeu’s purpose in life is to pull people out of the matrix by giving them an empowering mindset
- James Altucher’s purpose in life is to live life on his own terms, sticking to his daily practices and core values, and sharing his story with the world that might ultimately have an impact.
- According to James Altucher, depending on the Google Search Algorithm if you type in “I want to die” (with the quotations), then James Altucher’s website will rank somewhere in the 2nd, 3rd, or 4th position. (Note: We tried it and we see that Google has given more preference to government websites and organizations trying to help people with suicidal thoughts. We could see James Altucher’s Blog as the 45th result – as of 1st July 2020)
- The website jamesaltucher.com was registered in 2004 as a gift for James Altucher by another person. But James only replied to the email he got in 2004 in 2009 to take ownership of the domain name.