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Every two weeks, I share my writing on investing, career transitions, meaningful work, parenting, living intentionally, and other topics that engage me.

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Field Notes Edition #9

Welcome to another Field Notes edition of Beyond the Cove. I’m experimenting with a looser approach that's quicker to write and, hopefully, just as interesting for you to read.

In these emails, I’ll share a few things I noticed lately that made me think, smile, or look twice. Maybe they’ll do the same for you.

Please share any feedback or ideas. Just hit reply.

Over the next few weeks, I'll decide what this newsletter becomes. What bits should stay? What needs to go? Any new ideas?

For now, let's go...

• Multifamily Update I haven't written much about apartment investments lately, largely because it's still really tough out there - cost pressures persist, and rent growth has been anemic at best. While there are some reasons for optimism - the supply glut has abated in growth markets and the prospect of lower interest rates may drive more deal activity - I'm just focused on working through this extended cyclical trough. If you're interested in more detail, Jay Parsons August Multifamily Update delivers a good update on the industry dynamics.

• Remote in the Wide Open My wife and I spent an afternoon anchored off Basket Island, a tiny, unpopulated island in the middle of Casco Bay (see the photo below). From our boat, we could see Portland and the coastal towns of Falmouth, Cumberland, and Yarmouth. And, occasionally, a boat would pass by. But mostly, it was silent and relaxing. I was struck by how remote it felt, maybe 10-15 minutes from thousands of tourists packed into Portland's Old Port. For some reason, I was reminded of a similar feeling in my younger days living in New York. Whether sitting in Central Park or riding the subway, it was easy to feel detached and alone, despite being surrounded by thousands. Not a perfect comparison, but there's something there.
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• Levels of Engagement How deeply do you want to explore an idea? Last week, I read a newsletter article that described a biography written about a 16th-century philosopher and why he was especially relevant today. Intrigued, I downloaded and listened to the book. At some point, I wondered why I didn't go to the source, so I downloaded a book of essays written by that philosopher. Finally, I took a few notes to highlight areas of agreement and disagreement. Soon, I hope to spend some time journaling to clarify my own thoughts on the topics. During this process - from a newsletter book review, to reading the biography, to the source, to exploring my own ideas - I rediscovered the joy of going deeper. Obviously, we can't fall into the rabbit hole every time, but when we can, we're almost always rewarded for the effort.

Small Sparks of Joy Sometimes it doesn't take much. Just over the past few days, I've felt a spark from each of the following:

• Email Update During a catch-up call, "R" shared his recent decision to send a short update email monthly to a group of his closest friends. It's not a newsletter. Just an email. Simple bullets and a few photos. Over time, he began to feel disconnected, so he decided to give it a shot, hoping they'd do the same. Seemed like an authentic alternative to social media and a wonderful idea worth sharing.
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• Nerd alert 🤓 I've been using ChatGPT to raise my Excel spreadsheet game. I've learned new approaches and built some useful retirement savings projection models with functions I never knew existed (Sequence, Vstack, Lambda, and Scan). Admittedly, it took patience. Nothing seemed to work the first time, but I learned a ton through the process and built something cool.
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• This Quotation Hit Home “We must let go of the life we have planned, so as to accept the one that is waiting for us.” - Joseph Campbell
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• College Drop-off This week, we're dropping off our oldest kid at college, so we're experiencing a lot of emotions in the Gerber home. Mostly, it's excitement and joy. Sure, we'll miss her, but I'm thrilled for her to grow and explore the world. When your kids are younger, parents of older kids tell you the years will fly by, and before you know it, that toddler will be off to college. And you nod, and mostly ignore the "advice", suspecting it's true, but not likely to change how you feel about your young kid. But then, at some point, that toddler becomes a young adult, and you become just like those other parents, struggling to make sense of where the time went. You can't understand it until you experience it for yourself.
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• College Drop-off #2 After a few deep breaths, our packed car crept down the driveway, and we began the long drive from Maine to Pennsylvania. One neighbor waved from her porch. Then another. And, as we approached the top of the street, we came across a thoughtful send-off written in sidewalk chalk. Small acts can really hit home.

• Interstellar My 16-year-old son happened to watch Christopher Nolan's Interstellar, loved it, and thought I might enjoy it too. So, he asked if I wanted to watch it with him. The movie was incredible. I can't believe I hadn't seen it until now. But as you'd guess, the movie was nothing compared to being invited to watch it with my teenager.

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• From Work A 91-year-old client requested a meeting to discuss some recent home maintenance expenses (yup, she still lives at home). She explained that she'd been losing sleep, worried she didn't have enough money to cover the costs. For context, the projects had to be done and totaled less than 2% of one of her liquid accounts. In our meeting, we walked through the numbers, and I could see her relax. It was ok. She's quite sharp and could have done the math herself. There was nothing complicated here. Still, it felt great to help. The exchange reminded me that a trusted partner can help us see things more clearly, even if we already know the answers. In this case, the work wasn't a series of complex calculations; it was the clarity that emerged through conversation.

And a Farewell Photo...

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