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Exhibition at The British Museum on Re-Imagining Captain Cook, Royal Navy.
Re-Imagining Captain Cook
Gallery
A Road Map for More Retirement Income – Barron’s
The conventional wisdom about investing in retirement is wrong. Rather than decreasing the percentage of stocks in a portfolio during retirement, he argues, investors should do the opposite.
Mindset Matters
“Your view of yourself can determine everything.”
According to Stanford psychologist Dr. Carol Dweck’s essential finding — children who have a “growth mindset” that intelligence can be developed are better able to overcome academic stumbling blocks than those who have a “fixed mindset” that intelligence is predetermined — is as relevant as ever. Her work has influenced research across the social sciences and reached tens of thousands of schoolchildren nationwide. (Source: Why Mindset Matters, Stanford Magazine, September 20, 2017, by Marina Krakovsky)
https://medium.com/stanford-magazine/carol-dweck-mindset-research-eb80831095b5
Dr. Dweck states: “…in the growth mindset, failure can be a painful experience. But it doesn’t define you. It’s a problem to be faced, dealt with, and learned from.” We can still learn from our mistakes.
Dr. Carol Dweck’s Growth Mindset tips for parents:
- Listen to what you say to your kids, with an ear toward the messages you’re sending about mindset.
- Instead of praising children’s intelligence or talent, focus on the processes they used.
- Example: “That homework was so long and involved. I really admire the way you concentrated and finished it.”
- Example: “That picture has so many beautiful colors. Tell me about them.”
- Example: “You put so much thought into that essay. It really makes me think about Shakespeare in a new way.
- When your child messes up, give constructive criticism — feedback that helps the child understand how to fix the problem, rather than labeling or excusing the child.
- Pay attention to the goals you set for your children; having innate talent is not a goal, but expanding skills and knowledge is.
(Souce: Why Mindset Matters, Stanford Magazine, September 20, 2017, by Marina Krakovsky)
Dr. Dweck advises, “If parents want to give their children a gift, the best thing they can do is to teach their children to love challenges, be intrigued by mistakes, enjoy effort, and keep on learning. That way, their children will have a lifelong way to build and repair their own confidence.”. She advises also not to praise intelligence or talent, but praise the work ethic.
…[W]e can praise wisely, not praising intelligence or talent. That has failed. Don’t do that anymore. But praising the process that kids engage in: their effort, their strategies, their focus, their perseverance, their improvement. This process praise creates kids who are hardy and resilient.
How we word things affects confidence, the words ‘yet’ or ‘not yet,’ “give kids greater confidence, give them a path into the future that creates greater persistence.” We can change mindsets.
TED: Carol Dweck
Carol Dweck researches “growth mindset” — the idea that we can grow our brain’s capacity to learn and to solve problems. In this talk, she describes two ways to think about a problem that’s slightly too hard for you to solve. Are you not smart enough to solve it … or have you just not solved it yet?
Carol Dweck, Ph.D, states that “In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard work—brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment.
Carol Dweck, Ph.D, Psychologist, is a pioneering researcher in the field of motivation, why people succeed (or don’t) and how to foster success.
Growth Mindset…About Learning
You try something, it doesn’t work, and maybe people even criticize you. In a growth mindset, you look for what you’ve learned. – Carol Dweck
Growth Mindset is a set of beliefs and behaviors that adapts to challenging situations; it sees failure as a chance for learning and creativity; and it knows that growth is possible when it comes to talent, abilities and intelligence.
My dad encouraged us to fail. Growing up, he would ask us what we failed at that week. If we didn’t have something, he would be disappointed. It changed my mindset at an early age that failure is not the outcome, failure is not trying. Don’t be afraid to fail. — Sara Blakely
If you fail, you do not lose. You only lose when you quit or do not try.
Carol Dweck states that “In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard work—brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment[.
When things do not go your way, remember that every challenge — every adversity — contains within it the seeds of opportunity and growth. ― Roy T. Bennett
Successful people are able to persist through all of the doubt, pain and failures that come with following their goals and dreams due to their Mindset. To be successful, people must have and vigorously embrace the concept of a Growth Mindset, a mindset that sees challenges as opportunities for learning, growth and expansion.
History has demonstrated that the most notable winners usually encountered heart-breaking obstacles before they triumphed. They won because they refused to become discouraged by their defeats. — B.C. Forbes
Growth Mindset is about attitudes towards seeking challenges, learning from failures and set-backs, and the ability to progress and achieve. Essentially, the concept is that if you believe your talents can be developed, you have more of a ‘growth mindset’ and will tend to achieve more.
Your Financial Mindset
Financial Mindset – behaviors and beliefs about how you earn, spend, save and invest money.
Financial Independence means Never have to work again to live your life.
Secrets to Financial Independent, according to Tony Robbins, are…
- Spend less than you make, and invest the difference.
- You want to put your money to work for you.
- Re-invest your returns so you can earn compound interest on it
- Never get financially independent by work alone.
- Only reason to invest is for income, not assets
- Three Financial Buckets: Security | Growth | Dream
Best Retirement Advice
While still in the workforce enduring my typical 7:30 a.m. to 5:30 p.m. professional career, a respected colleague shared a nugget of advice that became the bedrock of my life, he said…”you should never run from something; instead, you should run to something”. The advice became a mantra used to guide my professional and personal life.
The same advice is relevant when considering retirement:
You shouldn’t just retire from something, but to something
Retirement can be a confusing, even a stressful time, as retirees create a new way of life for themselves. Thus, it becomes imperative that retirees know what they want to do with themselves and their lives. No one can provide the answer and there is not a secret formula or recipe to a happy and fulfilling retirement.
Furthermore, it is surprising how many retirees don’t have a clue who they are or what they want to do.
Experts say that creating a new schedule helps. There is an transition period to understand and a new retiree must devote time to determine a new routine and daily schedule. Without some sort of regularity in a retiree’s day, it will be easy for a retiree to waste away their day and more importantly not do the things that make them happy.
Experts advise retirees should spend the first three to six months without any firm commitments and instead make a list of activities and goals they would like to achieve in retirement. After doing the things they enjoy like playing golf, writing blog posts, meeting friends for lunch or coffee, trading stock options, working out almost every day, traveling, reconnecting with friends working in the yard and volunteering, retirees might fine that they have created a new routine for their days.
Bottom-line, it is imperative for retirees to figure out how to spend their time in retirement. It behooves them to live with a schedule that makes them productive, fulfilled and happy.
Market Corrections Infographic
The Growth Mindset – Carol Dweck | Inside Quest #12
http://mindsetonline.com/ — Growth Mindset people think mistakes are my friend…I love a challenge…I struggle with (insert) and have not yet succeeded.
Life is about the contributions you make and knowing when you look back, you went for it.
Carol Dweck, Ph.D
Mindsets are beliefs—beliefs about yourself and your most basic qualities. Think about your intelligence, your talents, your personality. Are these qualities simply fixed traits, carved in stone and that’s that? Or are they things you can cultivate throughout your life?
People with a fixed mindset believe that their traits are just givens. They have a certain amount of brains and talent and nothing can change that. If they have a lot, they’re all set, but if they don’t… So people in this mindset worry about their traits and how adequate they are. They have something to prove to themselves and others.
People with a growth mindset, on the other hand, see their qualities as things that can be developed through their dedication and effort. Sure they’re happy if they’re brainy or talented, but that’s just the starting point. They understand that no one has ever accomplished great things—not Mozart, Darwin, or Michael Jordan—without years of passionate practice and learning.
Retire with $1 million in 20 years
https://www.cnbc.com/2aa7f086-f082-4839-9555-9b0959188502
Use this simple formula to retire with $1 million in 20 years
Wealth manager: Use this simple formula to retire with $1 million in 20 years from CNBC.
“If you’re in your 20s or 30s right now, chances are, you don’t want to work until you’re 65 or 70,” says self-made millionaire David Bach.