DTN Podcast | Jim Alstott Ep. 81 | Am I on the Wrong Mountain? | Matt Ludmer

Description

What if you reach the top of your mountain and it turns out to be the wrong one?In 2000, Matt Ludmer and his partner were named the No. 1 producing team at DLJ. He walked up to collect the award, and his very next thought was, "Where do I go from here?" Earlier that year he had wandered into a matinee of a play called Wrong Mountain, and its question never left him.Matt grew up in Teaneck, New Jersey, the son of a man who sold staples and nails up and down the Turnpike. He talked his way into the University of Chicago by sitting outside the dean's office, talked his way into Morgan Stanley by walking into a recruiting lunch uninvited, and spent decades building wealth for other people while quietly studying meditation, Tibetan Buddhism and Judaism on the side. For years, none of those worlds knew about the others. At his 50th birthday, none of his best friends knew each other.We talk about the thirteen years between knowing and leaving, why a risk manager decided the risk of staying was worse, the day he wrote ARTICULATION on his daughter's wall and saw her light dim, a week alone in a Vermont cabin where he started laughing on day three, and what his father knew about contentment that took Matt forty years on Wall Street to learn. His new book, The Right Mountain, comes out October 20.And stay for the Playlist Round: Led Zeppelin, Queen, Al Green, a tenor aria, and the Knicks.KEY TOPICSReaching the top and asking "where do I go from here?" · Living two lives: Wall Street and the meditation cushion · The four dimensions of true wealth · Intelligent risk and the decision to leave · Money as achievement, not fulfillment · Being spiritual in business · Parenting and the achiever mindset · A solo retreat and laughing at your own story · Must do, fun to do, and what your heart wants · What a father's contentment teachesSOUND BITES"Did it ever occur to you that you may be on the wrong mountain?""I'm a wealth manager and I didn't feel wealthy.""My job is not managing money. My job is managing risk.""Money is achievement