Tag Archives: Mindset

Focus and Mindset

Posted on by

“Anything is possible if you have the mindset and the will and desire to do it and put the time in.” Roger Clemens

Financial mindset consists of a predetermined set of beliefs, thoughts, habits and behaviors an individual has about saving by paying yourself first, investing for the long-term and accumulating wealth for financial well-being.

Every person has a set of beliefs, thoughts, habits and behaviors about money and personal finance. Even if they can’t express what their thoughts and mindset are, they still exist subconsciously. By observing your own financial outcomes, you can begin to better understand your financial mindset, behaviors and habits.

Without a positive financial mindset, it is difficult to develop the good financial habits and behaviors that will be necessary to lead to an improved financial outcome and well-being.

A positive financial mindset means knowing that if you just hang in there long enough, things will work out financially with the correct financial habits and behaviors. Even if you partake in one positive action each day, your confidence and belief will grow, along with your wallet.

Focus and Thoughts

“If you’re trying to achieve, there will be roadblocks. I’ve had them; everybody has had them. But obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it.” Michael Jordan

Mindset is basically about your thoughts and a harbinger of what you focus on in the short and long term.

When you focus a thing, be it positive or negative, your mind has a tendency to heighten your attention on that thought. As a result, by focusing on one thing, such as the fear and uncertainty caused by the COVID-19 pandemic, you have a tendency to miss other things good and positive happening around you. Essentially, your focus becomes the filter in which you observe your world.

Focus on opportunities

“No matter how dark things seem to be or actually are, raise your sights and see the possibilities, always see them, for they’re always there.” Norman Vincent Peale

This too will pass is a common refrain worth remembering in trying times like these created by the pandemic. History and good old common sense tells us that crises always come to an end and this COVID-19 will be no different.

We can control our thoughts, mindset and where we focus our attention. Thus, it behooves us to focus our thoughts on those things we can control and to think about what we need to do now, in the short term, to survive the current storm and prepare our paths for future opportunities and better days.

It’s about doing things now, in the downtime, in order to be prepared and prime to operate in the uptime. It is about laying the groundwork for tomorrow’s long-term financial success during today’s challenging times.

By focusing on the negative and on things outside our control, we can miss the other things and opportunities happening around us.

Positive Attitude

“Our attitude toward life determines life’s attitude towards us.” John N. Mitchell

Nothing is going to change in your life unless you change a negative attitude and mindset. And, you can change your life almost immediately if you can change your attitude and mindset. Many have said that, “A bad attitude is like a flat tire. If you don’t change it, you’ll never go anywhere.”

Furthermore, John N. Mitchell said it best when he said that, “Our attitude toward life determines life’s attitude towards us.” We’ve all heard about the power of our attitude, and that it’s our attitude can determine the altitude of your success in life.

References:

  1. https://www.verywellmind.com/what-is-a-mindset-2795025
  2. https://www.cnbc.com/2020/04/30/why-you-should-create-a-daily-money-mindfulness-practice.html
  3. https://graciousquotes.com/norman-vincent-peale/

Mindset and the Power of Our

Posted on by

“We are what we think. All that we are arises with our thoughts. With our thoughts, we make our world.” Gautama Buddha

Your mind is very powerful. The way you think and believe about yourself turns into your reality. If you draw inaccurate conclusions about who you are and what you’re capable of doing, you’ll limit your potential.

Link Between Thoughts, Beliefs, Feelings and Behavior

Each one of us has the power to create a reality of our choosing through our thoughts. What you think about and focus on directly influences how you feel and how you behave, according to Amy Morin, a psychotherapist and the international bestselling author of 13 Things Mentally Strong People Don’t Do. For example, if you think you’re a failure, you’ll feel like a failure. Then, you’ll act like a failure, which reinforces your belief that you must be a failure.

https://twitter.com/iamjallal/status/1297345759885443072?s=21

Once you draw a conclusion about yourself, you’re likely to do two things;

  • Look for evidence that reinforces your belief and
  • Discount anything that runs contrary to your belief.

It might not be your lack of talent or lack of skills that are holding you back. Instead, it might be your beliefs that keep you from performing at your peak.

Creating a more positive outlook can lead to better outcomes in your personal life and professional career. And, harboring optimistic thoughts  can lead to productive behavior, which increases your chances of a successful outcome.

Change your thoughts, beliefs and behaviors

The good news is that you can change how you think with deliberate practice and effort. You can alter your perception and change your life for the better.

According to Morin, you can alter your perception and change your life by challenging your thoughts and beliefs:

  • Look for evidence to the contrary. Acknowledge exceptions to the rule will remind you that your belief isn’t always true.
  • Challenge your beliefs. Perform behavioral experiments that test how true your beliefs really are. If you think you’re not good enough, do something that helps you to feel worthy. Step outside of your comfort zone, force yourself to do something that feels a little uncomfortable.

With deliberate practice and effort, you can train your brain to think differently and eliminate those self-limiting thoughts and beliefs.

Deep breathing is incredibly beneficial in finding inner peace.

  • Breathe in and out deeply for one minute
  • Hold your breath for four seconds
  • Breathe out

This simple technique will bring about inner peace. Try it out for yourself and see the results.

References:

  1. https://www.forbes.com/sites/amymorin/2016/06/15/this-is-how-your-thoughts-become-your-reality/?sh=1dd1728528a0
  2. https://www.shift.is/2019/07/proof-that-our-thoughts-create-reality/

Psychosocial Health

Posted on by

It’s important that you choose to be happy, healthy and at peace!

Health is defined as the overall mental, emotional and physical state of a person; the absence of disease and ailment. On the other hand, wellness or well-being refers to the state of being in optimal mental and physical health.

But wellness is more than optimal mental, emotional and physical health. It’s about living a life in harmony, full of personal responsibility and taking proactive steps for one’s entire well-being. Thus, a person living life very well controls risk factors that can harm them. Risk factors are different types of actions or conditions that increase a person’s chances for illness or injury.

Psychosocial (mental, emotional, social, and spiritual) health and wellness

“The secret of a better and more successful life is to cast out those old dead unhealthy thoughts.” Dr. Norman Vincent Peale

Psychosocial health includes four important components of well-being. It means being mentally, emotionally, socially, and spiritually sound which fortunately is no longer lost on traditional modern medicine. There’s plenty of proof that a healthy mind, content heart and grateful attitude are just as important for the prevention of diseases and therapeutic treatment. Therefore, this concept of psychosocial health, a state of mental, emotional, social, and spiritual well-being, deserves much attention and additional research.

Basic Traits of Psychosocial Health

“The greatest revolution of our generation is the discovery that human beings, by changing the inner attitudes of their minds, can change the outer aspects of their lives.” William James

Individuals who are deemed to be psychosocially healthy aren’t completely devoid of problems. Actually, it’s not the quantity or quality of a problem, which makes someone sound in this respect. It’s the way people view themselves and how they view and response to stressful situations that sets psychosocially healthy people apart from those who are not. Here are just a few traits shared by these robust individuals. They:

  • Like themselves
  • Accept their mistakes
  • Take care of themselves
  • Have empathy for others
  • Control their anger, hate, tension, and anxiety
  • Are optimistic
  • Can work alone and with others equally well

Mental Health

“To make your mind healthy, you must feed it nourishing, wholesome thoughts.” Dr. Norman Vincent Peale

The thinking portion of psychosocial health is known as mental health. Your beliefs and values in life, as well as how you relate to others and respond to situations in your life, are a reflection of mental health, which overlaps with the other aspect of health.

When something happens to you that you don’t like and you respond in a positive manner by accepting your mistake and looking forward to its correction, then that’s good. But if you show up late for work regularly, get fired, and then blame anyone but yourself, then that may be an indicator of less than ideal mental and emotional health.

Emotional Health

The feeling part of psychosocial health is called emotional health. This includes things like anger, love, hate, and happiness. Oftentimes, emotional and mental health overlap a great deal in some situations. Going back to our example of getting fired from work because you came in late multiple time, if you feel a bit down, but still have high hopes for the future, that’s a positive thing. But if you lash out in a blinding rage against your boss, sulk when you go home, and avoid everyone thereafter, then that may point to improper emotional health.

Furthermore, it’s not unexpected even for an emotionally healthy person to experience some sadness and grief after getting fired; that by itself isn’t conclusive of poor emotional health. Everyone, even the most optimistic people, have their ups and downs. But an emotionally healthy person is one that responds to a situation in a manner that is controllable, in proportion, and with understanding.

Emotional intelligence is an ability to understand and manage your emotions and those of others. It can be broken up into five main parts:

  • Know your emotions: Are you able to quickly recognize your feelings?
  • Manage your emotions: Can you express those feelings appropriately? Are you able to cope with them well?
  • Motivate yourself: The more you can do this independently in order to achieve more in your life, the higher your emotional intelligence.
  • Recognize the emotions of others: The more you can empathize with others, the better.
  • Handle your relationships: The better you are at navigating conflict in life and building a good social network, the higher your emotional intelligence.

Social Health

Having healthy relationships is a good way to also introduce social health, the ability to create and maintain healthy relationships with others. I’m sure you can already appreciate how much this is related to the concepts we went over in emotional health. Everything here is related because they are all part of the one overarching concept – psychosocial health.

Social health goes beyond having appropriate emotional health and intelligence. A person with good social health:

  • Recognizes the importance of social engagement. We’re pack animals after all! We’re not supposed to live alone!
  • A person with good social health is able to support their friends in a time of need and ask for their help when they need it themselves.
  • They aren’t biased, prejudiced, racist, or sexist.
  • Listens to others well, expresses their feelings just as well, and acts in a responsible manner around others.

An example of a person with good social health is someone who has close friends. They enjoy listening to and feels close enough to share important feelings with. The contrast is a curmudgeon who is bad-tempered and discourages close personal relationships.

Spiritual Health

When you enhance your spirituality, you form a relationship built on inner peace, love, faith and security.

Spiritual health is about having “something more” in your life. In practical terms, we’re talking about getting to know yourself—getting to know what you’re feeling, what you’re thinking, what you’re intending, what your fears are, and what your loves are, according to Gary Zukav author of Seat of the Soul.

Relationships can transform into a spiritual connection and partnership. If we use our relationships with ourselves, others and God (or an entity that is transcendent) to make us wiser, kinder, peaceful, grateful and more compassionate, we can actually change how the relationships work for us. We can have and enjoy the relationships and lives we’ve always dreamed of.

Higher levels of spirituality have also been linked to increased compassion, strengthened relationships, and improved self-esteem. “Our findings show that spirituality is significantly associated with better mental health and well-being and may add to an individual’s overall wisdom,” explains Dilip Jeste, senior associate dean for the Center of Healthy Aging and a professor of psychiatry and neuroscience at the UC San Diego School of Medicine. “Spirituality does not require religious faith but is characterized by humility and ever-present connectedness to oneself or to others or to an entity that is transcendent, such as Mother Nature or God or the soul. It helps reduce stress in many people and allows them to be more at peace, happier, and healthier.”

References:

  1. https://study.com/academy/lesson/what-is-psychosocial-health-definition-components-traits.html
  2. https://www.oprah.com/oprahshow/forging-a-spiritual-relationship/all
  3. https://www.psychologytoday.com/us/blog/the-athletes-way/202010/how-spirituality-wisdom-and-mental-health-are-intertwined
  4. https://www.forbes.com/sites/amymorin/2016/06/15/this-is-how-your-thoughts-become-your-reality/?sh=1dd1728528a0

Background:

Physical wellness: This means we exercise, eat well, practice safe sex, don’t do any dangerous activities like jumping off of buildings, and so on. Physical fitness increases physical wellness. By being physically fit and well, you are better able to take care of yourself and others, especially in a time of need. You are also better able to prevent illness and disease.

Intellectual wellness: Critical thinking, being curious, and always learning new things. Developing intellectual wellness is critical not only to help a person grow in school and do better at work, but it actually prevents the onset of disease. It’s been shown that people who regularly learn new things and challenge their mind can stave off many mental health problems.

Emotional wellness: Being confident, having a solid self-esteem, building trust, and being able to understand another’s feelings. A person who is emotionally well is aware of their feelings and is able to properly cope with them. Emotional wellness also implies a person can deal well with stressful situations.

Social wellness: Having good communication skills, the ability to establish good and healthy long-term relationships, and having good relationships with family and friends. Interpersonal relationships are very important in order to maintain a good emotional and physical state of being. We are, of course, ‘pack animals,’ so to speak, that depend on one another to survive and live well.

Spiritual wellness: The path to a spiritual wellness and relationship depends upon you because how you relate to yourself determines how spiritual you are toward others, according to Deepak Chopra. Developing compassion, forgiveness, being caring, having a sense of purpose and meaning in life. Spiritual wellness doesn’t automatically imply the need for religion in a person’s life. But, it does imply a personal relationship with God or committing to something higher. This personal relationship or commitment to something higher can be developed and found through things like nature, meditation, volunteer work, and family.

Mahatma Gandhi:

  1. You must be the change you wish to see in the world.
  2. Happiness is when what you think, what you say, and what you do are in harmony.
  3. Live as if you were to die tomorrow. Learn as if you were to live forever.
  4. Keep your thoughts positive because your thoughts become your words. Keep your words positive because your words become your behavior. Keep your behavior positive because your behavior becomes your habits. Keep your habits positive because your habits become your values. Keep your values positive because your values become your destiny.

References:

  1. https://www.chopra.com/articles/how-to-have-a-true-spiritual-relationship

A Powerful Attribute for Success: Mindset

Posted on by

Act in spite of fear!
 

Failure is a necessary evil on the road to success.

Your mindset is probably holding you back from creating the abundant life you dream and desire. Your mindset is your collection of thoughts and beliefs that shape your thought and habits.  And your thoughts and habits affect how you think, what you feel, and what you do.  Your mindset impacts how you make sense of the world, and how you make sense of yourself.

‘The 2% Mindset’.

“Adapting a growth mindset means recognizing that success is not about avoiding failures, but rather about embracing them, taking on challenges, and not giving up.” James Clear.

With a 2% or growth mindset, people believe that their most basic abilities and skills can be developed through dedication, deliberate practice, effort and hard work. This view of mindset creates a love of learning, growing and a resilience that is essential for success.

“To live is the rarest thing in the world. Most people exist, that is all.” Oscar Wilde

It’s postulated that only 2% of the population go for their dreams with confidence and excitement. They make a conscious decision to live “outside the box”.  They have the confidence to live a life of adventure and are willing to go for their dreams….the bigger the better. 

Only 2% of the population choose happiness and fulfillment. Only 2% of the population get the most out of life by exploring new things and embracing the unknown. Only 2% of the population live life without limits and act in spite of fear. In other words, only 2% of the population live a life beyond their comfort zone.

To achieve this mindset, you must actively change your way of thinking. You must act in spite of the fear. Rather than fear the unknown these 2% embrace the unknown.  Change is something to be embraced, as well, and they seek it with gusto.  The 2% have been able to embody an abundance mindset, not merely as a concept but as a way of being.  A life of contentment and fulfillment is their ultimate prize.

The remaining 98% of the population

The majority of the people (98%) in this world make a conscious decision to live in a comfort zone of their own making. They remain in their comfort zone and are content with just getting by. This zone is a place that is easy, routine, and secure.  It is easy to be like everyone else as it helps keep fear at bay.

98% of the population live their lives playing it safe, doing the right things and save themselves for some future event that never happens. 98% of the population enjoy being like everyone else and simply let life push them into submission because they have no guts. Deep down inside they are fearful and terrified of taking risks and end up settling for less. They really want to succeed, but the fear of losing is greater than the excitement of succeeding. 98% of the population will look back one day and know that deep down inside they didn’t go for it.

“Success occurs when your dreams get bigger than your excuses.” Anonymous

Fear, a powerful teacher.

The fear of failure is preventing you from realizing your true potential. It stops you from going for your dreams, be that public speaking, or maybe starting your own business. Most people wished that they had honored even a half of their dreams and had died knowing that it was due to choices they had made, or not made. But, “you need to fail, learn how to fail and condition yourself to fail” in order to find success, according to Tim Ferris.

Where there is uncertainty and fear, it’s easy to stay in your comfort zone and not face the unknowns. You experience resistance. Resistance is fueled by fear. And you feel fear because you don’t know what you don’t know and so you make up stories.

It’s important to embrace the unknown; find out how truly exiting and reinvigorating it can be. Live without limits, and enjoy exploring new things.

Regrets of the dying:

“Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. All fear of embarrassment or failure — these things just fall away in the face of death, leaving only what is truly important.” Steve Jobs

Bonnie Ware, an Australian palliative nurse, counseled the dying in their last days and recorded their most common regrets. In her book The Top Five Regrets of the Dying – A Life Transformed by the Dearly Departing, she shared the top five regrets of the dying:

  1. I wish I’d had the courage to live a life true to myself, not the life others expected of me.
  2. I wish I hadn’t worked so hard.
  3. I wish I’d had the courage to express my feelings.
  4. I wish I had stayed in touch with my friends.
  5. I wish that I had allowed myself to be happier.

Take these five wishes of the dying to heart and avoid living a life full of regrets and unrealized dreams. Mark Twin said it best: “Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream.”

“Health brings a freedom very few realise, until they no longer have it.” Bonnie Ware

References:

  1. http://sourcesofinsight.com/what-is-mindset/
  2. http://www.amazon.com/exec/obidos/ASIN/B000FCKPHG/thbosh-20/
  3. https://www.cnbc.com/2017/08/07/how-overcoming-the-fear-of-failure-helped-steve-jobs-and-bill-gates.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Message
  4. https://www.inc.com/tom-popomaronis/only-2-percent-of-world-embraces-these-11-risky-mindsets-heres-why-everyone-else-doesnt-but-should.html
  5. https://bronnieware.com/blog/regrets-of-the-dying/
  6. https://substanceeducation.com/2015/05/23/a-2-mindset/

Owning a Successful Business Is the Single Best Way to Accumulate Wealth

Posted on by

Successful investing for the long term and accumulating wealth are about owning a portion of a successful business. It is the single best way to accumulate wealth.

It is extremely difficult for individuals to accumulate wealth by earning income and slugging their way through a 9 to 5 job. It’s very hard to get truly wealthy by renting out your time. Bottomline…you can only work so many hours. 

Even high earners like corporate executives, doctors and lawyers don’t typically earn millions of dollars a year. Instead, the path to amassing vast fortunes is paved by owning assets like stocks of a successful business and allowing the assets to to appreciate in value and work for you.

The single greatest wealth-building secret on the planet and the path to amassing vast fortunes is paved by owning a successful business through investing for the long term in stocks. Controlling vast sums of stock market wealth is a common thread among the world’s wealthy.

That doesn’t mean you have to create and build the next Tesla, Amazon or Walmart. You can “piggyback” on billionaire CEOs like Bezos by buying shares of their companies on the stock market.  This is the playbook many wealthy folks follow.

Recent data from investment bank Goldman Sachs shows the wealthiest 1% of US households own more than half the stocks in America. At the end of 2019, they controlled $21 trillion in stock market wealth.

Over long term, ownership of companies through stocks have outperformed bonds and most other asset classes. This makes sense when you think about it. Stocks are riskier than bonds, so you expect to earn a higher return on capital. 

When you save for the future by paying yourself first and invest for the long term your capital in a successful business, you accumulate assets that earn money while you sleep. For example, by owning Amazon shares, every time the stock soars, your net worth increases.

When Amazon crushes earnings, you win, too. Think of it as a second income that often brings in more than your main job.

References:

  1. https://www.forbes.com/sites/stephenmcbride1/2020/08/19/why-owning-stocks-is-the-single-best-way-to-get-rich/#6ede923248ec

Long Term Thinking and Planning

Posted on by

Long-term thinking and planning are core values

In the book 7 Habits of Highly Effective People, Stephen Covey explains in the book’s second habit that it’s important to “Begin with the End in Mind”. This habit is all about knowing your purpose and what you’re trying to achieve. Beginning with the end in mind is all about asking yourself questions to determine your long term objectives and the reasons behind wanting to achieve them.

Habit 2 is based on imagination–the ability to envision in your mind what you cannot at present see with your eyes, according to FranklinCovey. It is based on the principle that all things are created twice. There is a mental (first) creation, and a physical (second) creation. The physical creation follows the mental, just as a building follows a blueprint. If you don’t make a conscious effort to visualize who you are and what you want in life, then you empower other people and circumstances to shape you and your life by default.

“Are you–right now–who you want to be, what you dreamed you’d be, doing what you always wanted to do?” FranklinCovey

According to Covey, before you can live a purposeful, meaningful life, you’ve got to have a vision of what that life looks like. When you know how you want people to talk about and remember you at the end of our life, you can start taking action now to make that scenario a reality later. With the ‘End in Mind’, you’ll know what you need to do day to day and week to week to get there.

‘Begin with the End in Mind’ means to begin each day, task, or project with a clear vision of your desired direction and destination, and then continue by flexing your proactive muscles to make things happen. 

It’s never too late to change course.

“People are working harder than ever, but because they lack clarity and vision, they aren’t getting very far. They, in essence, are pushing a rope with all of their might.” Dr. Stephen R. Covey

Personal journeys are all about defining your direction and moving towards it with consistency, perseverance and persistence. It’s important to remember that you are in control of developing your personal journeys to wealth, health and emotional well-being.

It’s imperative to understand that if you don’t have an end goal in mind, how will you know where are you going. How can you possibly know whether you’ve succeeded, failed or reached a place somewhere in between, if you don’t know your destination. Knowing your end goal can give you the continued motivation you need to achieve success.

Yet, the end product (goal) isn’t as important as the process. As Covey explains, “writing a mission statement changes you because it forces you to think through your priorities deeply, carefully, and to align your behavior with your beliefs.”

Additionally, it’s important to ‘focus on the process’. Remember, the important thing is that you’re intentionally thinking about what it means to live a life of purpose and meaning on a daily basis and how to get there.

References:

  1. https://www.franklincovey.com/the-7-habits/habit-2.html
  2. https://www.thediscoveryway.com/begin-end-mind-7-habits-highly-effective-people-explained/#:~:text=Begin%20with%20the%20end%20in%20mind%3A%207%20Habits,can%20use%20it%20to%20develop%20your%20personal%20leadership.

America’s Mental Health Epidemic

Posted on by

“Be sure to give each other a lot of grace and be kind and forgiving to each other. We’re all experiencing heightened levels of uncertainty and anxiety right now. Giving an extra beat of patience to others is critical.” Dani Fallin, chair of the Department of Mental Health at the Johns Hopkins Bloomberg School of Public Health

The mental health impact of COVID-19 are real, widespread and growing exponentially. The immense stress and emotional trauma experienced by vulnerable individuals, families and households amid the pandemic has given rise to an unprecedented mental-health crisis. Additionally, there’s strong evidence showing that social isolation and distancing can increase symptoms of mental illnesses like depression and anxiety.

Data is staggering

The latest data reveals some of the most frightening and staggering spikes in anxiety, depression, substance use, drug overdose and suicide rates that behavioral-health experts have ever witnessed, according to Babette Hankey, president/CEO of Aspire Health Partners in Orlando.

A recent survey by the Centers for Disease Control and Prevention on adult mental health found that more than 40% of U.S. adults have reported at least one mental health issue during this pandemic, and more than 1 in 10 adults had seriously considered suicide. During this period, 7 out of 10 young adults (18-24 years old) reported experiencing symptoms of anxiety and depression and more than 25% have seriously considered suicide.

In the wake of the coronavirus COVID-19 outbreak, many people may feel anxiety or stress.

Everyone responses differently

Everyone reacts differently to stressful situations such as the seemingly enduring COVID-19 pandemic infectious disease outbreak. It is normal to experience a wide range of emotions. Yet, it’s important for people to take care of themselves physically, emotionally, and mentally.

According to the CDC study, the rate of substance abuse and/or suicidal thoughts among unpaid caregivers more than tripled between May and the end of June.

Older Americans appear to be more resilient to the strain of the pandemic compared to the young: The study found rates of anxiety, depression, substance abuse and suicidal thoughts were most prevalent among those aged 18 to 24, and the prevalence of these issues “decreased progressively with age.”

Black and Hispanic Americans tended to have higher rates of mental health issues tied to the pandemic than did whites, the study also found.

Of course, unemployment or the threat of it is a major source of anxiety for millions in 2020. So, efforts aimed at “strengthening economic supports to reduce financial strain” should be part of an effort to boost mental health, the researchers said.

According to the CDC, reactions during the outbreak can include:

  • Fear and worry about your health status and that of your loved ones who may have been exposed to COVID-19.
  • Increase levels of stress, anxiety, hopelessness and depression.
  • Changes in sleep or eating patterns.
  • Difficulty sleeping or concentrating.
  • Worsening of chronic health problems.
  • Increased use of alcohol, tobacco, or other drugs.

Learning to cope with anxiety and stress

Figuring out ways to cope with anxiety and stress can help you, your loved ones and your community. If stress begins to interfere with your daily life, reach out to your healthcare provider.

These numbers, although startling, are unsurprising to mental health experts given the emotionally taxing measures local and state governments have taken to reduce the spread of the virus: children and grandchildren have been separated from their parents and grandparents; students are prevented from attending school; and the sick and dying have been denied the embrace of loved ones.

During this unique moment in the nation’s history, American society and economy have slowed down, we’re experiencing unprecedented social unrest and political rancor, and, many have been left feeling powerless and uncertain about their physical health and financial wellbeing as well as that of their loved ones.

The importance of self-care during this challenging time.

“Seek out ways to have social and professional engagement while adhering to social distancing…can help people feel connected socially with their colleagues, family, and friends, and maintain a sense of belonging.” Dani Fallin, chair of the Department of Mental Health at the Johns Hopkins Bloomberg School of Public Health

  • Avoid excessive exposure to media coverage of COVID-19. Be aware and conscious of your news and media intake. The more time you spend consuming news about the pandemic, the more likely you are to feel anxious and concerned. That’s especially true at home, when you’re able to access news media 24/7.
  • Take care of your body. Take deep breaths, stretch or meditate. Eat healthy, well-balanced meals, exercise regularly, get plenty of sleep and avoid alcohol, smoking and drugs.
  • Make time to unwind and remind yourself that strong feelings will fade. Take breaks from watching, reading, or listening to news stories. It can be upsetting to hear about the crisis and see images repeatedly. Try to do some other activities you enjoy to return to your healthy life.
  • Learn a new hobby or skill like gardening, a foreign language or a musical instrument. Devote yourself to learning and growing everyday.
  • Connect with others. Share your concerns and how you are feeling with a friend or family member. Maintain healthy relationships.
  • Maintain a sense of hope that “this too shall pass” and maintain positive outlook and thinking. Have faith in your inherent resilience to persevere and overcome life’s extraordinary challenges brought on by the pandemic.

Take care of your mental health

Mental health is an important part of overall physical health and emotional wellbeing. It affects how we think, feel, and act. It may also affect how we handle stress, relate to others, and make choices during uncertain situations or an emergency.

Again, we stress to contact your healthcare provider if you think you have new or worsening mental health symptoms or stress (or anxiety) gets in the way of your daily activities for consecutive days.

References:

  1. https://www.cdc.gov/coronavirus/2019-ncov/daily-life-coping/managing-stress-anxiety.html
  2. https://www.orlandosentinel.com/opinion/guest-commentary/os-op-coronavirus-mental-trauma-aspire-health-20200914-xw7kcjahvbfrlgcd2s4bmvbmzi-story.html
  3. https://www.webmd.com/lung/news/20200813/levels-of-anxiety-addiction-suicidal-thoughts-are-soaring-in-the-pandemic#1
  4. https://hub.jhu.edu/2020/04/06/dani-fallin-mental-health-challenges-coronavirus/

Purpose of Saving

Posted on by

Save for the long term. Saving and investing are a marathon. To power through saving and investing, you need purpose, patience and stamina.

As a general rule, it’s recommended that individuals save and invest 15% of their gross income into a retirement fund or funds like a 401(k), 403(b), IRA, etc. The exact amount depends on the individual, but the sooner individuals begin saving, the better.

Delaying saving until you have more money to contribute could mean less funds in the future, as your investment won’t have as much time to earn compounding interest.

The impact of compounding is greater the earlier you start saving. You’ll earn not only from the money you invest but also from previous earnings. Not to mention, the sooner you work savings into your budget, the easier it will be to live within your means and prioritize savings in the future.

No matter how little, contribute what you can to your selected plan. Any time you see an increase in salary, receive a bonus or pay off a debt, consider increasing your contribution.

“Savings is the money set aside for emergencies and major purchases like a vehicle or a house. Savings is about setting aside money for future use.”

Most Americans don’t feel prepared for retirement. Fully 58% of workers with pay of more than $100,000 indicated they are not saving enough for retirement; that percentage increases to 69% across income levels. Additionally, 18% of people who earn more than $100,000 say they live paycheck to paycheck which makes it difficult to save for retirement, according to a survey of 8,000 workers by global advisory firm Willis Towers Watson. Frankly, the problem is simply that Americans aren’t saving enough.

Experts say there are ways to up your retirement savings, even if you’re feeling financially stretched. First, look for ways to slash your current spending to free up extra cash or consider a side gig to earn more.

Saving money takes effort and discipline

“Do not save what is left after spending but spend what is left after saving.” Warren Buffet

Saving does requires self discipline and desire to save and to not spend more than you earn. That lack of frugality could explain why 58% of Americans have less than $1,000 in savings. But, saving money can be simple when you develop the correct mindset and create positive savings habits. Add, savings can get easier to accomplish when you actually know where your earnings go month after month.

Automate your savings

Automate your savings is about setting aside a portion of your earnings that would go directly into either a bank account or a retirement plan, depending on your financial goals and plan. You can also set automatic transfers from your checking to savings accounts to fund important goals and create automatic bill pay so you never forget to handle a fixed expense. With an automatic transfer of a portion of your earnings, you’re effectively paying yourself first as a means to save money, and at the same time, you will not really miss the cash you’re socking away.

Reasons to Save and Invest

If you require motivation to save money, make a competition or game out of saving money. By making it interesting and competitive, saving should become more deliberate. Thus, a good way to boost your cash reserves is to find someone who’s willing to engage in a savings contest.This will encourage you to save money that will put you on the path of buying yourself more financial security.

Another trick to staying motivated and on track, set small saving goals and milestones that will give you a sense of progress. For example, make a point to celebrate saving and investing accounts reach $10K, $25K and $100K in assets.

You cannot save your way to financial independence and wealth. The only reasons to save are to create an emergency fund, to set aside money for a short term major purchase like a house or vehicle, and to invest it.  Saving money will put you on the path of buying yourself more financial security.

The difference between saving and investing comes down to accumulating money vs. making money grow. Both are important and it essential to understand how to make saving and investing work together. It’s important to put your money to work for you. Put your saved money into investment accounts and never use these accounts for anything, not even an emergency.  This will force you to create an emergency fund.

Avoid debt that doesn’t produce cash flow

“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” Albert Einstein

Make it a personal financial rule that you will never use debt that doesn’t make you money. You should only borrow money to purchase assets that increase your income or create positive cash flow. Financially savvy people use debt to leverage investments and grow cash flows. Financially non-savvy spenders use debt to buy good and services that make others richer.

Debt is one of the big three destroyers wealth and can wreck havoc on one’s ability to achieve financial security and independence. It can quickly get out of hand especially when people habitually spend more than they earn to live a lifestyle they cannot afford. Debt can compound to the detriment of a spender if consumers fail to pay off credit card balances each month.

References:

  1. https://makingcents.navyfederal.org/knowledge-center/retirement-savings/making-a-retirement-plan/planning.html
  2. https://www.marketwatch.com/story/1-in-5-people-making-more-than-100000-a-year-are-still-living-paycheck-to-paycheck-2020-02-11?mod=retirement&link=sfmw_fb
  3. https://www.schwab.com/resource-center/insights/content/youre-saving-should-you-be-investing-too?SM=uro#sf229772500

Pledge to Action

Posted on by

Recently, four Black Alumni from the U.S. Naval Academy’s Class of 1988 penned a short, yet strong message and call to action ‘Pledge’. The Pledge was written for and shared with their approximately one thousand classmates.

They asked their classmates “to read carefully and consider acknowledging publicly” the intent and and message of the Pledge.

I offer their message to my blog readers to do likewise, to read carefully and consider acknowledging.

Pledge:

“Recent reprehensive comments of a fellow Naval Academy alumnus, along with the worldwide call to address racial inequality and police brutality have deeply impacted many of us in ’88.”

“We have drafted a Pledge that we ask each of you to read carefully and consider acknowledging publicly.”

“This Pledge is not only about race, but about openly discussing and understanding all our differences as people and offering a deeper level of support for each other in a way that many of us have already come to embrace in our lives.”

“It is about conversation, engagement, and using our influence to help us be even stronger as a class and better friends.”

I will take these 3 steps:

1. Listen to my peers.

  • I will interact intentionally with shipmates and have real conversations about our respective life experiences.
  • My commitment is not only to hear but also to try to understand. I pledge to listen to my Class of 1988 brothers and sisters.

2. Lead by example.

  • I will engage to address any displays of injustice and any statements of untruths.
  • If I am in an environment among friends or peers and something insensitive, derogatory, or untrue is proffered, I will reject it and encourage others to do the same.
  • I will lead by example. Silence is no longer an option.
  • What I can do, I will do.

3. Leverage my network.

  • I will use my sphere of influence, an important extension of me, to the benefit of my classmates and the U.S. Naval Academy.

It is critical that we all affirm our commitment to fairness and integrity, and that we carry out our message to the broadest audience possible.

One of their Naval Academy classmate wrote an article that appeared on the website www.medium.com where she pledged to do the following:

“I recognize that we are men and women of action, and only through our actions can we effect a change.” She wrote. “Because it is not enough to only recognize and speak against the mistreatment of our brothers and sisters who served alongside me, I commit to you that I will also engage on your behalf.”

“What I can do, I will do. I commit to each of you to serve alongside you.”

References:

  1. https://medium.com/@leelauras/annapolis-grads-write-powerful-pledge-9976017cc1f9
  2. https://www.news4jax.com/news/local/2020/06/06/jacksonville-area-naval-academy-alumni-member-resigns-apologizes-after-racial-comments-aired-on-facebook-live/

Understanding the Black Experience | Psychology Today

Posted on by

“Can a White Person Understand the Black Experience? Layers of pain, mistrust, and taboos keep people divided along racial lines.”

Having frank discussions about or asking questions about racism and injustice is challenging for many well-meaning people. They simply don’t know how to approach or “connect to our fellow human beings who are from different ethnic/racial groups and cultural traditions”.

This is particularly difficult when there are over 200 years of racism, injustice and oppression between groups; and, it is difficult while significant social, health and economic inequities remain.

Without an American and world history lesson, it’s safe to say that there are many reasons for discomfort on both sides. This is the major reason why most White people do not understand the African American experience in America.

“Yet, making an authentic connection with another person means understanding, empathizing, and being able to see the world through their eyes.” And, it is hard to imagine that people of color are living a completely different experience in America simply by virtue of their race, ethnicity or gender.

Racism hurts. 

As much as people of color adopt a stoic attitude and pretend that racism does not impact their psyche, repeated and persistent racism can be traumatic. And it hurts doubly so when those around refuse to acknowledge the experience and its potential impact. Well meaning people tend to view an experience as only a single racist occurrence, rather than understand that the incident adds to a lifetime of accumulated experiences and frustrations.

People of color do not want other people to discount their experiences or tell them that they’re being overly sensitive. So if you are a White person patiently waiting for a “Black person to spontaneously share their experience, you may be waiting a long time.” 

Read more: https://www.psychologytoday.com/us/blog/culturally-speaking/201408/can-white-person-understand-the-black-experience

References:

  1. https://www.psychologytoday.com/us/blog/culturally-speaking/201408/can-white-person-understand-the-black-experience
  2. Carter, R. T. (2007). Racism and Psychological and Emotional Injury: Recognizing and Assessing Race-Based Traumatic Stress. The Counseling Psychologist, 35(1), 13-105.
  3. https://www.msn.com/en-us/news/us/being-black-in-america-shouldnt-feel-like-a-overwhelming-burden-opinion/ar-BB15jkne
  4. https://www.nytimes.com/interactive/2018/03/19/upshot/race-class-white-and-black-men.html