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The first step to becoming financially independent starts with the mind. Before starting your debt free plan, be real with yourself about money.

Why do you want to be debt free?

What does financial independence mean to you?

What will you be able to accomplish once you are debt free?

What would you do with your life?

How will this journey impact you, your family and generations to come?

Thought-provoking questions can reshape years of negative thoughts, intentions, and bad habits with money.

Before I started my debt free journey, I allowed myself to dig deep into the plans that I had for my future. I wrote down goals (several times), dreamt about the future, practice gratitude and got excited about the result. With my new plan in place, I felt determined and even more disciplined to see the journey through.

Challenge and Interest go hand-in-hand in the Growth Mindset. Think – this is challenging and fun. It is about learning something over time. The point…”who cares if you cannot yet do it now…you will do it in the future.” Think and believe… I cannot do it yet… and becoming is more important than being.

The two most dangerous words in people’s vocabulary are “I can’t”. Never say “I cant” and instead, say “I presently struggle with…”.

The two most powerful words are… “I am”. Must be careful were we place our identity.

Here are the recent financial and economic headlines: 

• Strong U.S. jobs report was released on Friday with unemployment falling to the lowest level in fifty years.   
• The Federal Reserve is holding on moving the Federal Fund interest rate.   
• U.S. Inflation rate is lower than economist expected and trending around two percent.  
• U.S. economy has been very good with GDP reported to be growing at a robust 3.2 percent during the first quarter of calendar year 2019.   
• The economy has experienced consistent growth for more than ten year despite periods of short term market volatility, sell-offs and negative headlines.   
• POTUS tweeted late Sunday threatening to raise tariffs on Chinese imports. The tweet has riled and caused a sell-off of U.S. and global equity markets during the first full week of May. 
• U.S. financial media reporting that the Chinese trade officials are considering postponing travel to the U.S. to continue trade negotiation talks.
• U.S. – China trade negotiations continue with most economists and financial experts assuming that a trade deal will be successfully negotiated since many believe a bilateral trade deal is in the best interest of both parties. 

With the recent headlines, what actions should a long term investor take in view of the headlines, current short term market volatility and sell-off?   

A long term investor should take no short term actions other than to follow their long term financial plan and maybe decrease the volume on the financial media/entertainment networks. If in doubt, they should call their financial adviser for emotional support.