Financial Illiteracy is the #1 Economic Crisis

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Money can work for you or against you.  Poor financial literacy and poor financial habits, like overspending, can be passed down through generations and can lock families into a cycle of poverty for decades.

Financial illiteracy is the #1 Economic Crisis in our country and is threatening Americans’ aspirations for socioeconomic advancement and equal opportunity.  The President’s Advisory Council on Financial Literacy stated, “Financial illiteracy is not an issue unique to any one population. It affects everyone: men and women, young and old, across all racial and socioeconomic lines. No longer can we stand by and ignore this problem. The economic future of the United States depends on it.”

People of color, women and the least educated have some of the lowest financial literacy rates in the nation, a major concern for a country with a widening wealth and income gap.

What is financial literacy

Financial Literacy is not just a budget. In fact, it is also a solid financial understanding of the time value of money. It is having skills like long-term vision, the ability to plan for the future, and the discipline to use those skills every day. Being financially literate means understanding where you are today, and having the knowledge needed to develop a road map to get you and your family to the prosperous financial future, you want.

It’s time to close the gap between those who know how money works and those who don’t. It’s time to break the cycle of endless debt, foolish spending, and financial cluelessness, so anyone who wants to take control of their financial future has the knowledge to make it happen.

43% of Americans can’t answer the most basic questions about how money works.

Financial literacy equips us with the knowledge and skills to be able to make sound financial decisions that will help us manage money more effectively and even the playing field for everyone. It includes the understanding of how money works, how money is made, spent, and saved as well as how to manage debt. People with appropriate financial literacy generally are better at making financial decisions and how to manage money.

It’s important for adults who live and work on Main Street to know how to manage their finances like people who work on Wall Street.  Since economic inclusion and financial well-being begins with financial literacy and providing a financial education to as many people as possible.

Equally, its important to deliver financial literacy to Americas’ diverse underserved middle class, teach people from all generations and socioeconomic communities how money works, how to eliminate debt, cancel interest, improve credit, build equity and will optimize their ability to accumulate wealth.

Increasing financial literacy will help America close it’s widening wealth gap and can even assist in leveling the financial playing field for everyone.

References:

  1. https://www.financialliteracy.group/2020/05/financial-literacy-for-african-americans/
  2. https://www.financialliteracy.group/
  3. https://www.superbcrew.com/the-financial-literacy-group-llc-is-on-a-mission-to-help-america-close-its-wealth-gap/
  4. https://howmoneyworks.com/financialliteracygroup/challenge

Think America! – Dave Ramsey

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“When you give your income to someone else, you don’t have it anymore.  When you give your income away, you’ve given up your economic future…you, the borrower, become slave to the lender.”  Dave Ramsey

According to Dave Ramsey, you can’t borrow your way to wealth and financial security.  So, stop giving away your greatest wealth building tool–your income–to buy stuff you do not need to impress someone you do not know.

Vaccination and Economic Recovery

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As the Federal Reserve Chairman Jerome Powell reiterated, the economic recovery is dependent upon not only the course of the virus but also the vaccination progress. One silver lining is that some of the data trends, such as new cases and hospitalizations, appear to have peaked and are steadily improving. However, for a full return to normality, vaccinations for the majority of the population need to occur swiftly.

“Recovery will depend on the willingness of people to get on an airplane, stay in a hotel, and go out to dinner,” writes Raymond James chief economist Scott Brown. “A quicker rollout of vaccines will get us there sooner, but there is also a risk that vaccines will be less effective against new strains of the virus. Booster shots may be needed.”

The number of new daily COVID-19 cases has declined from recent highs, but remain elevated. Increased social distancing, whether state mandated or voluntary self-preservation, should slow the pace (and the economy) in the near term, according to Brown. The New York Fed’s Weekly Economic Index fell to -2.28% for the week ending January 23. The WEI is scaled to four- quarter GDP growth (for example, if the WEI reads -2% and the current level of the WEI persists for an entire quarter, we would expect, on average, GDP that quarter to be 2% lower than a year previously).

Yet, there are a few reasons for optimism.

  • First, President Biden’s original pledge of 100 doses in his first 100 days has been increased to 150 million as production and distribution capabilities expand. Purchasing 100 million doses of each of the high-efficacy Pfizer and Moderna vaccines is a positive.
  • Second, more experience should allow state administrators to improve communications and streamline the distribution process of the vaccine at the local level to maximize daily inoculations.
  • Third, while additional vaccines such as AstraZeneca and Johnson & Johnson have a lower efficacy rate than Modern and Pfizer, they will provide further accessibility (assuming emergency use authorization (EUA) is granted by the FDA) for people to receive some level of protection and hopefully avoid hospitalization.
  • The bottom line is that more effective distribution and additional second wave vaccine options keep the expectation of a return to normality for the US economy (and likely the rest of the world) around midyear. The biggest unknown and threat to this timeline remains the potential deterioration in vaccine effectiveness against the new mutations of the virus.

    • https://twitter.com/raymondjames/status/1353402346550644737?s=21

    References:

    1. https://www.raymondjames.com/commentary-and-insights/economy-policy/2021/01/29/weekly-economic-commentary

    No. 1 Secret to Success, Wealth and Happiness in Life

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    “Kindness and generosity are the keys to happiness and prosperity.”Wahei Takeda, president and founder of Takeda Confectionery Co.

    Wahei Takeda, president and founder of Takeda Confectionery Co., was considered a truly happy man, and lived by example a life that demonstrated to others what it really meant to live a successful and meaningful life. Often called the “Warren Buffet of Japan”, Takeda was one of the country’s most successful and well-known investors.

    The key to a happy and abundant life

    Takeda’s philosophy of “maro,” which in Japanese means ‘a sincere heart’, “inner contentment and gratitude are the keys to a happy and abundant life”.

    The secret to a happy life isn’t an abundance of wealth, since rarely does anyone says they have too much, or just enough. “Winning a $20 million lottery ticket won’t make you happier,” said Dr. Sanjiv Chopra, a professor of medicine at Harvard Medical School. “Research has shown that after one year, lottery winners go back to their baseline. Some are even less happy.”

    Chopra explains the four things that have been scientifically linked to happiness:

    1. Relationship with Friends and family

    Developing a close bond with people we trust and confide in is essential to our overall well-being. “Choose your friends wisely and celebrate everything small and good with them,” Chopra says.

    Researchers have also warned that “loneliness and social isolation can be as damaging to health as smoking 15 cigarettes a day,” whereas friendships can “reduce the risk of mortality or developing certain diseases and can speed recovery in those who fall ill.”

    2. Forgiveness

    “The ability to forgive frees you from the burdens of hate and other unhealthy emotions that can negatively impact your happiness quotient,” says Chopra.

    He cites Nelson Mandela as a hero who truly mastered the art of forgiveness. In 1990, when the legendary freedom fighter emerged from his 27 years of prison, he was asked whether he had any resentment toward his captors.

    “I have no bitterness, I have no resentment. Resentment is like drinking poison and then hoping it will kill your enemies,” Mandela responded.

    “Resentment is like drinking poison and then hoping it will kill your enemies.”  Nelson Mandela

    3. Giving

    Chopra says that getting involved with charities and donating money to help others is one of the most fulfilling ways to spend your time and money.  Researchers have suggested that people who volunteer experience greater happiness, higher self-esteem and a lower mortality rate.

    A study from the University of Chicago and Northwestern University found that giving, rather than receiving, leads to long-term happiness. In one experiment, 96 participants were given $5 every day for five days — with the option to either spend it on themselves or on others.

    “Everyone started off with similar levels of self-reported happiness,” the researchers wrote. “Those who spent money on themselves reported a steady decline in happiness over the five-day period. But happiness didn’t seem to fade for those who gave their money to someone else.”

    4. Gratitude

    “Gratitude is not only the greatest of virtues, but the parent of all the others.” Roman Orator Marcus Tullius Cicero once

    “There’s a wonderful anonymous quote that goes, ‘If you don’t know the language of gratitude, you’ll never be on speaking terms with happiness,’” Chopra says.

    Practicing gratitude can be as simple as saying “I’m grateful” at least once a day. In fact, one study from the American Psychological Association found that doing so can help people savor positive experiences, cope with stressful circumstances and strengthen relationships. It will also measurably improve your own overall satisfaction and happiness in your relationships and life.

    “Happiness flows not from physical or external conditions, such as bodily pleasures or wealth and power, but from living a life that’s right for your soul, your deepest good.” Socrates

    “Taking time to think about what you’re grateful for makes you more aware of the positive things in your life,” says Chopra. As a result, “it makes you less biased by the fewer negative things in your life.”

    In a money-obsessed capitalist society, the simplest way to reach a state of happiness, contentment and abundant life is to express gratitude and give to others, instead of always wanting or asking for more. Bottomline, “gratitude is a key to wealth, health, and happiness”.

    References:

    1. https://www.cnbc.com/2021/01/25/warren-buffett-of-japan-secret-to-success-happiness-and-wealth-in-life.html
    2. https://www.cnbc.com/2019/05/31/harvard-professor-says-winning-20-million-lottery-wont-make-you-happy-but-heres-what-will.html?updated
    3. https://www.cnbc.com/2019/01/24/saying-this-powerful-phrase-is-the-science-backed-secret-to-a-happy-relationship.html?__source=iosappshare%7Ccom.microsoft.msedge.EMMXShareExtension

     

    Personal Investment Philosophy

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    Every investor should have a personal investment philosophy. An investment philosophy is simply a set of principles and rules that will guide your actions when making portfolio decisions at both the macro and micro levels.

    Pete Carroll, NFL Seattle Seahawks head coach, often asks his audiences and clients, “Can you describe your philosophy in 25 words or less?” Carroll believes that it’s the process of actually thinking it through and developing a philosophy that makes a difference. And, those who can effectively communicate their philosophy have a leg up.

    An investment philosophy, in simple terms, is nothing more than how you view the world of investing. To some, they believe they can beat the market. To others, they believe in a longer-term approach and controlling what is possible to control. And, developing an investment philosophy is very important for setting yourself up for success.

    Every investor should also be able to explain their investment philosophy. And, if you’re not able to explain your philosophy in a 60-second elevator pitch, chances are you haven’t developed a concise and truly viable philosophy.

    A personal investment philosophy guides your investment decisions

    An investment philosophy is simply a set of principles and rules that will guide your actions when making portfolio decisions at both the macro and micro levels. Essentially, an investment philosophy should be the starting point for every other portfolio-related decision you make as an investor.

    With an abundance of research, data and opinions at our fingertips in today’s fast-paced world, it’s easy to patch together the best tactics, strategies or securities to buy right now. At best, this is a patchwork system that is sure to fail over the long term. Without an overarching philosophy to bring it all together, you’ll just be chasing one hot stock or investment fad to the next, losing money along the way. It may seem like a minor distinction, but an investment philosophy must be determined before a portfolio strategy can be implemented.

    There is no such thing as a perfect portfolio, a foolproof system, a best-in-class asset allocation, just the right amount of risk to take, or a perfect time to buy and sell.

    There are no investment strategies or rules that work at all times. There isn’t a single variable that can tell you when the coast is clear or when it’s time to start worrying. Your unique situation and personality type should dictate your philosophy. No style will work for everyone.

    Rollercoaster of emotions of the retail investor.

    One of the reasons personality is such an important aspect is because there will inevitably be periods when it seems like your philosophy doesn’t work anymore. There are many different ways to make money in the markets, but not all of them are suitable for certain personality types.

    “If you avoid the losers, the winners will take care of themselves.”

    One of the benefits of defining an investment philosophy is the ability to understand what to avoid—what doesn’t work in general or just what doesn’t work for you. Knowing what to avoid, or negative knowledge, is one of the best ways to figure out what works as an investor. Furthermore, understanding the relationship between risk and reward is a key piece in building your personal investment philosophy.

    “Beat the market” strategies almost always fail

    Regardless of the strategy you implement, the true tests of your beliefs will always come at those times when it’s not working. These are the times when your investment philosophy should help. Investor and author Rick Ferri summed this up nicely when he said, “Philosophy is universal; strategy is personal; and discipline is required. Philosophy acts as the glue that holds everything together. Philosophy first, strategy second and discipline third. These are the keys to successful investing.”

    Without an underlying philosophy, it’s nearly impossible to implement an investment strategy because philosophy is what holds it all together when things aren’t working. The discipline that Ferri describes is always going to be the most important aspect of this equation. A philosophy can’t just be words. You have to actually follow through with it. Words can be hollow without the corresponding actions.

    The philosophy should be there to guide your behavior. It should help you avoid crippling mistakes at the worst times. And it should help make some of the more difficult decisions that we’re forced to make as an investor less stressful.

    A personal investment philosophy can help organize your beliefs, reduce the number of choices you are forced to make and avoid huge mistakes in the decision-making process.

    10 Questions That Will Help Define Your Investing PhilosophyThe following questions can help you sort through the noise and create a personalized investing philosophy:

    1. What are your core investment beliefs?
    2. Do you understand your philosophy and why you believe in it?
    3. Do you know the potential risks?
    4. Does it suit your personality and individual circumstances?
    5. Will your philosophy help you follow whatever strategy you implement?
    6. What constraints are necessary for turning your philosophy into a portfolio?
    7. What will you own and why will you own it?
    8. What will cause you to buy or sell?
    9. What will cause you to make changes to your portfolio over time?
    10. What types of investments or strategies will you avoid?

    References:

    1. https://www.aaii.com/journal/article/defining-your-investment-philosophy?via=emailsignup-readmore
    2. https://mlrwm.com/defining_your_personal_investment_philosophy/
    3. https://www.firstrepublic.com/articles-insights/life-money/grow-your-wealth/whats-your-personal-investment-philosophy-achieving-long-term-goals-requires-a-personal-roadmap

    Mark Cuban Talks Trading Realities on CNBC Squawk Alley – Fantastic Interview

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    “If you really think of it, when a stock doesn’t pay dividends, there really isn’t a whole lot of difference between a share of stock and a baseball card. If you put your Mickey Mantle rookie card on your desk, and a share of your favorite non-dividend paying stock next to it, and let it sit there for 20 years. After 20 years you would still just have two pieces of paper sitting on your desk.” Mark Cuban

    In a fantastic interview this morning, Mark Cuban said on CNBC “Squawk Alley” that he “believes the Reddit traders who helped spark the GameStop short squeeze and subsequent stock surge will remain a force in the market”.

    “I always was taught, ‘You get long and you get loud,'” Cuban said. “You get out there and create more buyers for your stock and the stock price goes up and that’s exactly what’s happening here, except it’s just WallStreetBets that’s doing the ‘getting loud.'”

    Cuban said he believes those online investors have gained valuable knowledge from the short squeeze, as well as from the volatile cryptocurrency market. “I think this is real,” said the “Shark Tank” investor and owner of the NBA’s Dallas Mavericks.

    “I think now that they’ve recognized their power and now that they’ve learned some lessons, we’re going to get more of it, not less of it,” he added. “It’s not going to be a set of circumstances where all these people lost money, they’re going to go home with their tail between their legs and they’re never going to do this again.”

    Cuban piled on during his interview with CNBC with remarks that some investors might regard as heresy.

    “The narratives that we create to sell stocks — price earnings, right, discounted cash flow, those are all subjective,” Cuban said. “We just have been told by Wall Street that the lower the price-earnings ratio against your growth rate, then that’s an indicator the stocks’ going to do great things. Or Graham and Dodd in terms of asset valuation — that doesn’t necessarily hold in a digital environment in the way it did in the past.”

    When pressed by the interviewer about his comments, Cuban remarked, “Yeah, they used to trade salt for gold, too,” Cuban replied. “Things change.”

    References:

    1. https://www.msn.com/en-us/money/markets/this-is-real-e2-80-94-mark-cuban-says-reddit-traders-wont-go-away-just-because-they-lost-money/ar-BB1djUfc?ocid=uxbndlbing
    2. https://www.mediaite.com/news/mark-cuban-tells-cnbc-he-supports-reddit-traders-to-gen-z-thats-what-makes-perfect-sense/

    Bitcoin and Risky Investing

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    Volatility isn’t always bad, and it’s important to be cautious about applying leverage

    Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games.

    Bitcoin has become an asset class of great interest to many investors and speculators across the world. But recently a few leading asset managers have recommended that investors direct a small allocation of their capital to cryptocurrency as part of their investments and retirement savings.

    Where does Bitcoin fit in?

    “Bitcoin is neither intrinsically valuable, nor is it a reliable store of wealth,” said Stuart Trow, a credit strategist at the European Bank for Reconstruction & Development, in a Bloomberg Opinion article. “It certainly does not produce an income. It does, however, possess two characteristics that could make it a good fit for even the most conservative portfolio”…volatility and it is not leveraged.

    Volatility

    Many investors and financial advisors view Bitcoin’s volatility with horror. Between Dec. 2017 and Dec. 2018 the price of Bitcoin fell by almost 85%. But since that meltdown it has risen more than tenfold, demonstrating that volatility can cut both ways. The greater an investment’s volatility, the larger the losses but the larger the potential returns.

    Bitcoin’s volatility offers a greater possibility of meaningful gains, while committing a relatively small, manageable sum. Since over the past year, its price has more than quadrupled. Had you invested one percent of your capital to Bitcoin, it would have contributed much to your portfolio. Thanks to Bitcoin’s volatility, as long as you don’t bet the ranch, there remains the possibility of making a real gain without too much loss.

    Leverage

    Bitcoins other key characteristic is that it is not a leveraged investment. Unlike leveraged trading strategies, which traders apply leverage (or debt) to trading financial instruments such as option and future contracts, your losses with Bitcoin are limited to your initial stake. Most other get-rich-quick schemes, including contracts for derivatives, rely on debt to some degree.

    Fear of Missing Out (FOMO)

    “Fear of missing out” and viewing cryptocurrencies as an alternative safe have to gold were just a few of the reasons that were heard when new Bitcoin investors were asked to explain their purchases in a month when the cryptocurrency had reached historical record highs.  Especially when conventional investing wisdom would advise against buying the elevated prices, and these investors knew that the cryptocurrency might lose value.

    Yet, Bitcoin is not for everyone, as underlined by its recent short term $10,000 fall in early January 2021.  But, if you have a couple of dollars that you can afford to lose, there are probably worse things to buy right now than the world’s most popular cryptocurrency.

    Reference:

    1. https://www.bloomberg.com/opinion/articles/2021-01-30/personal-finance-what-bitcoin-teaches-us-about-risky-investing
    2. https://www.bloomberg.com/news/newsletters/2021-01-21/bitcoin-investing-why-people-are-buying-the-cryptocurrency-now

    Want to set financial goals? Start with one word | Vanguard

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    “Don’t.” Saying “don’t” is more empowering than saying I can’t.

    It’s a word we often use as a command or when we’re rattling off a set of rules. But we also use it when we state simple facts—and the gravity of a well-placed “don’t” can make any mission statement sound a lot more decisive.

    Here’s how a simple shift in the way you talk about your financial goals can go a long way toward helping you reach them. Your financial goals, such as managing debt, buying your first home, saving for education, retirement, and planning for health care costs, are important to you.

    This infographic explains why “don’t” is a more empowering word to use than “can’t” when describing investing goals. “Don’t” puts you in control of your decisions.

    Content inspired by the insights of Vanguard Senior Behavioral Scientist Annie Wilson, PhD. Annie received a PhD in consumer behavior from Harvard Business School and now works with Vanguard’s Center for Analytics and Insight.

    References:

    1. https://investornews.vanguard/want-to-set-financial-goals-that-stick-this-year-start-with-one-word/

    Johnson & Johnson Vaccine

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    A single-shot coronavirus vaccine from pharmaceutical giant Johnson & Johnson was effective at preventing illness, hospitalizations and deaths in global trial. But its protection against sickness was stronger in the United States and weaker in South Africa, where a worrisome coronavirus variant now dominates.

    The results, once granted emergency use authorization by the FDA, would put a third vaccine on the market in the United States. A third vaccine could accelerate the ability to broaden immunity, as variants that challenge the current generation of vaccines spread across the world.

    The vaccine trial was primarily designed to measure how well the vaccine prevented illness. It was 66 percent effective overall at preventing moderate and severe disease: it was 72 percent effective at protecting against moderate to severe illness in the United States, but it was 66 percent effective in Latin America and 57 percent effective in South Africa, where concerning variants have taken root.

    Company officials emphasized the vaccine was 85 percent effective at preventing severe illness, and there were no cases of COVD-related hospitalization and death in people who received the vaccine. There were five COVID-related deaths in the trial, all in people who received the placebo, not the vaccine.

    Johnson & Johnson is expected to apply for emergency use authorization from the Food and Drug Administration late next week. If the review follows the path of two earlier vaccine candidates, the shot could be authorized and available to the public by March.

    The J&J vaccine uses a different technology than the two FDA  authorized mRNA vaccines. This vaccine employs ‘a harmless cold virus’ to deliver a gene that carries the blueprint for the spiky protein found on the surface of the coronavirus. The virus infects cells, which then follow the genetic instructions to construct a replica of the coronavirus spike.

    In contrast, the Pfizer and Moderna vaccines use a strip of genetic material called messenger RNA to instruct cells to build the spiky protein found on the surface of the coronavirus. In both cases, the immune system learns to recognize the real virus by mustering an immune response to the spike.

    References:

    1. https://www.washingtonpost.com/health/2021/01/29/covid-vaccine-johnson-and-johnson
    2. https://www.washingtonpost.com/health/2020/09/23/coronavirus-vaccine-jj-single-shot/?itid=lk_inline_manual_2

    Public Speaking—Most Persuasive Things People Do

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    “We are what we repeatedly do. Excellence therefore is not an act but a habit.” Aristotle

    Aristotle believed that we speak for one reason: to persuade.  Which can be challenging since most people have never been formally trained to think strategically about communication, despite the fact that “it’s one of the most critical skills in life”.  According to Aristotle’s teaching on persuasion, “the art of eloquence is all about the audience and about learning how people listen to us”.  Thus, it is important to shape the info you have, in the way that is ideal for the intended audience.

    To be a great public speaker, you must first define two things:

    • Your audience: Who are they? How do they view the world or the situation? What do they already know about you and your topic? What will they benefit from listening to you talk?
    • Your purpose: Why are you speaking to them? What do you want them to know? Why is it important? What are you trying to get them to do?

    The Greek philosopher believed the most persuasive people do:

    1. They think about their audience, not about themselves

    Aristotle’s advice is to focus instead on the people you’re addressing.  Begin by asking yourself: Who will be listening? How many of them will there be? How old are they? What race and gender? What do they know about you and your topic? Why are they gathering to listen to you? How can you help them?

    Before you begin writing, think about the purpose of your talk. It can be beneficial to distill your message to a single line. An effective method is to use this simple, 15-word sentence: “As a result of my [talk], they will understand [this], and respond by [doing that].”

    By aiming your remarks at the audience members, and by sticking to your purpose, you will eliminate a tremendous degree of anxiety and uncertainty.

    2. They make their audience happy

    In your mind, the subject of your talk is quarterly sales, company policy or your amazing new invention. Your audience, however, is focused on an entirely different topic — their happiness.

    Aristotle listed a number of things that make people happy: Health, family, wealth, status and so on. Your success as a speaker, regardless of subject, depends on demonstrating to your audience that you’re not just prattling away; you’re talking to them, for their benefit.

    Let’s say you’re pitching a financial product. You know that it’s awesome. The numbers prove it. But what’s going to make your audience happier? A lengthy diatribe about numbers, or an explanation of how these numbers will make their life better?

    The point, as always, is that every element of your presentation should demonstrate your awareness of what they care about.

    3. They speak in their audience’s language

    Whether you share much or little, your audience’s decision to accept your words and ideas depends upon how credible they find you to be. “When speakers behave inappropriately,” wrote Aristotle, “their credibility is questioned — even when they speak the truth.”

    It’s intuitive that awkward body language or inappropriate clothing will distract people from your message, but instead of worrying about what not to do, train your attention toward the myriad of ways you can frame your presentation in the cognitive universe of your audience.

    Every aspect of your presentation, including timing, humor, word-choices, metaphors and statistics, must mean the same thing to them as they mean to you.

    Being a great public speaker

    I Have Something to Say: Mastering the Art of Public Speaking in an Age of Disconnection by [John Bowe]

    “Being a great public speaker has nothing to do with your personality, with overcoming shyness or learning to act confident,” said John Bowe, speech trainer, award-winning journalist, and author of “I Have Something to Say: Mastering the Art of Public Speaking in an Age of Disconnection.”. It’s a technical skill that nearly anyone can acquire, just like cooking.

    Tips for preparing your speech

    1. Memorize your introduction and conclusion. Brain freeze occurs most commonly during those awful seconds when you first face a crowd.

    2. It’s not about you. Every decision you make must demonstrate that you’re talking for your audience’s benefit, not yours.

    3. Do everything you can to help them hear and understand you. People are bad at listening. Use short words, sentences and paragraphs to express your ideas; physical, concrete and vivid images that appeal to the senses; and active verb choices in place of abstract or passive language.

    4. Don’t drown your audience in data. If your talk relies on heavy data, be sure to explain what that data means — on a human level. People want to know how you think, feel, and believe. That’s why you’re in the same room with them, instead of sending the data by email.

    Do everything you can to help them hear and understand you. People are bad at listening.

    5. Eliminate anything that doesn’t clearly support your purpose. If a slide, statistic, joke, or anecdote doesn’t serve your goal, cut it.

    6. Record yourself or practice in front of real people — or both, if you can. This will be painful. But it’s better to hate yourself before your speech, rather than during (and probably for a long time after) your speech.

    References:

    1. https://www.cnbc.com/2020/08/13/to-be-great-at-public-speaking-distill-message-15-words-speech-trainer-says.html
    2. https://www.cnbc.com/2021/01/12/aristotles-3-most-important-rules-for-being-more-persuasive-in-public-speaking.html?__twitter_impression=true