J Money end at Budgets space Sexy newly wrote about failure. I’ve been functioning on this post about screwing up based on assumptions, therefore it urged me to move this to the prior of the queue. My main thesis is indigenous a favourite movie the mine indigenous the mid-90s. It’s on assumption.

You are watching: Assumption is the mother of all fuck ups

As the head mercenary villain from the Steven Seagal classic movie, Under Siege 2: Dark Territory, stated:

“Assumption is the mommy of all f*ck ups.”

Here room lessons learned indigenous three significant f*ck ups I’ve made. Let’s acquire to it!

1. Plowing +$100k into Utilities

My paternal grandfather functioned as an electrical engineer for many of his life. Prior to that, he served in the US army Signal Corps in Europe during WWII.

He passed far from Alzheimer’s when I was about 10. Ns don’t remember much around him except visiting the parenting home. I’ve learned around him v stories from my dad and also grandmother.

Grandpa to be a steady saver and also investor. My grandparents bought shares of Public service Enterprise group (PEG), and shares that its predecessor, Public service Electric and also Gas (PSE&G), long prior to PEG formed in 1985.

When mine grandmother passed away about 10 year ago, she live comfortably on my grandparents’ savings, pension, and dividend income. PEG, and a number of other holdings, provided stable, predictable income during her retirement and after my grand passed.

Disclosure: ns inherited shares of PEG in 2007/8 yet liquidated the shares and also diversified among various other holdings. We do not currently hold PEG, except indirectly via index funds.

F*ck increase #1

After practically seven year in my very first job out of college, I got to an initial colony egg about 3.5 time my annual salary at the age of 29. Ns didn’t establish this till after quitting my project and beginning at a brand-new employer.

I decided to roll my pre-tax and also Roth 401(k)s end to Vanguard, whereby I currently held our Roth IRAs and some taxable investments.

Around this time, I started seeking investment income. Partially resulting native my past exposure to utility stocks, ns loved see dividends and also other distribution purchase added shares. It came to be a type of game.

I spent dozens of hrs researching invest options. With a big lump sum conserved away, I discovered I became eligible because that the +$100k minimum accumulation at Vanguard.

I thought, “Why the hell not? i saved and also saved. For this reason let’s placed those one thousands Benjamins come work!”

This to represent a GROSS negotiation example. A international exchange spot or forward profession is merely an exchange of two cash operation (the money bought and also the currency sold) on one agreed-upon future date at a predetermined rate. For this reason if 2 counterparties gone into into 3 trades come exchange one money for another on the exact same settlement or value date (the days that currencies room physically exchanged), there would be a complete of six currency transfers: two per trade, representing each buy/sell. Source: well balanced Dividends
I couldn’t find the picture from TurboTax 2010, however I plainly didn’t review the definitions to the concern asking about my marital status. Regardless, always consult through a tax experienced no matter just how trivial a matter could seem. Source: TurboTax

About six weeks later on after reviewing further, i was in ~ an H&R Block paying numerous dollars to send an amended filing together MARRIED.

Fortunately, ns still had actually a pair of weeks before the April filing deadline.

Lessons Learned #3

These make me smile a bit, however they were few of the hardest to expropriate (except the last one, of course).

Swallow your Pride

I’m destructive with taxes. I’d be lost in the woods there is no TurboTax (and I’m tho usually lost with it). Even with a beneficial tool, i still plainly messed up.

If you’re uncertain, seek help. Asking questions. Surround yourself with civilization who room smarter 보다 you.

Don’t end Think Things

I literally review that concern over and also over and discussed it because that days in mine head on exactly how to translate the statement.

I thought, “Oh, I have the choice to record as single” based upon my misguided translate of the question. What was i thinking?

Don’t Forget You’re Married

It’s actual simple. And also it will save you sane — and safe — in much more ways than one. Enough said.

Overall, ns was stubborn and also lazy. Don’t i think you understand it all just since of your endure or knowledge.

Related: Resources & Motivation

Looking ago and — much more Importantly — Ahead

All of united state will continue to make errors and also mistakes in the future. It’s a reality.

The likelihood and also potential results of our f*ck ups are exacerbated by the size and/or the number of assumptions we make.

See more: What Is The Best Kind Of People, The Best Kind Of People By Zoe Whittall

We also learn and also get far better as a result of ours mistakes. It’s never-ending together we continue to find our balance.

Just remember: “Assumption is the mommy of every f*ck ups.”

Readers, what assumptions have you made that brought about mistakes or errors? are there any specific moments native your personal life or career that stick the end the most? any kind of lessons learned you’d choose to share?