Tag Archives: Mindset

Mindset of Building Wealth

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Your mindset is a set of beliefs that shape how you make sense of the world and yourself. It influences how you think, feel, and behave in any given situation or circumstance. It means that what you believe about yourself impacts your success or failure or happiness or wealth.

Simply, your beliefs shape your mindset. Mindset is a collection of beliefs and thoughts. It is a way of thinking:

“Mindsets are those collection of beliefs and thoughts that make up the mental attitude, inclination, habit or disposition that predetermines a person’s interpretations and responses to events, circumstances and situations.”

According to Stanford psychologist and best selling author Dr. Carol Dweck, your beliefs play a pivotal role in what you want and whether you achieve it. Dweck has found that it is your mindset that plays a significant role in determining achievement and success.

Mindsets can influence how people behave in a wide range of situations in life. For example, as people encounter different situations, their mind triggers a specific mindset that then directly impacts their behavior in that situation.

Your mindset plays a critical role in how you cope with life’s challenges. With a positive growth  mindset, adults are more likely to persevere in the face of setbacks. Instead of throwing in the towel, adults with a positive growth mindset view it as an opportunity to learn and grow.

In short, your mindset not only impacts how you perceive the world around you, but also how you see and believe in yourself and your abilities.

Gratitude Mindset

It’s important to be grateful for everything you have in life. For having a roof over your head, a paying job, a family, a good supply of food and water. Simply, gratitude is the “affirmation of goodness”.

Gratitude is a super power! It has been scientifically proven to be good for your health, your well-being, your building wealth, and your relationships.

Psychology research has demonstrated that practicing gratitude is good for improving your health, your well-being, your building wealth, and your relationships.

We often forget to be thankful for what we have…have a mindset and attitude of gratitude.

If you can be grateful for what you have, you won’t take anything or anyone for granted in your life, and you’ll be wealthier and happier in the long run.

Your mindsets have a lot to do with self-confidence, self-esteem as well as self-development and the desire for self-improvement and being grateful.

References:

  1. https://sourcesofinsight.com/what-is-mindset/
  2. https://www.verywellmind.com/what-is-a-mindset-2795025
  3. https://wealthygorilla.com/15-different-types-mindsets-people/

Gratitude

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“I have every possession I want. I have a lot of friends who have a lot more possessions. But in some cases, I feel the possession possesses them, rather than the other way around.” ~ Warren Buffett

Never allow all the things you selfishly covet or you want make you forget about all the things you have or currently possess. Put a little gratitude in your life today and be thankful for all you already possess.

Moreover, happiness doesn’t mean everything is pleasing or perfect. Instead, happiness means that you can choose to see beyond the problems and imperfections, and embrace an attitude of gratitude.

The endless pursuit of hollow amenities and fruitless assets that barely add any value to your life are often so intoxicating that people loose sight of things that truly make them happy and bring them joy such as personal relationships, joy and peace in abundance.

“Sometimes you have to stop staring at your problems and start seeing how beautiful life really is.” ~ Anonymous

Don’t wait for great. Be Great everyday! Don’t allow a little negativity keep you from feeling grateful for everything that is going right and for everything that is good and pleasing in your life.

Gratitude must become a 24 hour / 365 day mindset, so that you don’t take what you have for granted.

Research shows that gratitude can:

  • Help you make friends. One study found that thanking a new acquaintance makes them more likely to seek a more lasting relationship with you.
  • Improve your physical health. People who exhibit gratitude report fewer aches and pains, a general feeling of health, more regular exercise, and more frequent checkups with their doctor than those who don’t.
  • Improve your psychological health and emotional well-being. Grateful people enjoy higher wellbeing and happiness and suffer from reduced symptoms of depression.
  • Enhance empathy and reduces aggression. Those who show their gratitude are less likely to seek revenge against others and more likely to behave in a prosocial manner, with sensitivity and empathy.
  • Improve your sleep. Practicing gratitude regularly can help you sleep longer and better.
  • Enhance your self-esteem. People who are grateful have increased self-esteem, partly due to their ability to appreciate other peoples’ accomplishments.
  • Increase in mental strength. Grateful people have an advantage in overcoming trauma and enhanced resilience, helping them to bounce back from highly stressful situations.

References:

  1. https://positivepsychology.com/gratitude-exercises/

May you have Peace, Joy and Patience in Abundance!

Never Let Yourself Be Defeated

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“You may encounter many defeats, but you must not be defeated. In fact, it may be necessary to encounter the defeats, so you can know who you are, what you can rise from, how you can still come out of it.”

― Maya Angelou

“Winners are not those who never lose, they are the ones who never quit.”

Sometimes you may not win. But that is not your defeat. You are defeated only when you accept it. You must never accept your defeat at the first occurrence. In the game of baseball, if a batter swings and misses the first pitch, it doesn’t mean that he is out.

Improve Your Life

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“The key to happiness is really progress and growth and constantly working on yourself and developing something.” —Lewis Howes

Self-improvement, improvement of one’s mind, character, habits, and life through one’s own efforts. Life only changes as a result of the improvements you make by the actions you take.

Here are 10 Things You Should Do Every Day to improve your life.

1) Get out in nature

You probably seriously underestimate how important this is. (Actually, there’s research that says you do.) Being in nature reduces stress, makes you more creative, improves your memory and may even make you a better person.

2) Exercise

We all know how important this is, but few people do it consistently. Other than health benefits too numerous to mention, exercise makes you smarter, happier, improves sleep, increases libido and makes you feel better about your body. A Harvard study that has tracked a group of men for more than 70 years identified it as one of the secrets to a good life.

3) Spend time with friends and family

Harvard happiness expert Daniel Gilbert identified this as one of the biggest sources of happiness in our lives. Relationships are worth more than you think (approximately an extra $131,232 a year.) Not feeling socially connected can make you stupider and kill you. Loneliness can lead to heart attack, stroke and diabetes. The longest lived people on the planet all place a strong emphasis on social engagement and good relationships are more important to a long life than even exercise. Friends are key to improving your life. Share good news and enthusiatically respond when others share good news with you to improve your relationships. Want to instantly be happier? Do something kind for them.

Every morning send a friend, family member or co-worker an email (or text) to say thanks for something. There’s tons of research showing that over time, this alone – one simple email a day – can make you happier.

Harvard professor Shawn Achor’s The Happiness Advantage explains:

“This is why I often ask managers to write an e-mail of praise or thanks to a friend, family member, or colleague each morning before they start their day’s work—not just because it contributes to their own happiness, but because it very literally cements a relationship.”

4) Express gratitude

Gratitude is more powerful than you realize. In an experiment, people were asked to spend some time helping a student improve a job application cover letter. After they sent their feedback, the student replied with a message, “I just wanted to let you know that I received your feedback on my cover letter,” and asked for help with another one in the next three days. Only 32% of the people helped. When the student added just eight words—“Thank you so much! I am really grateful”—the rate of helping doubled to 66%.

In another experiment, after people helped one student, a different student asked them for help. Being thanked by the first student boosted helping rates from 25% to 55%. The punch line: a little thanks goes a long way, not only for encouraging busy people to help you, but also for motivating them to help others like you.

Plus, by expressing gratitude:

  • It will make you happier.
  • It will improve your relationships.
  • It can make you a better person.
  • It can make life better for everyone around you.

5) Meditate

Meditation can increase happiness, meaning in life, social support and attention span while reducing anger, anxiety, depression and fatigue. Along similar lines, prayer can make you feel better — even if you’re not religious.

6) Get enough sleep

You can’t cheat yourself on sleep and not have it affect you. Being tired actually makes it harder to be happy. Lack of sleep = more likely to get sick. “Sleeping on it” does improve decision making. Lack of sleep can make you more likely to behave unethically. There is such a thing as beauty sleep.

Naps are great too. Naps increase alertness and performance on the job, enhance learning ability and purge negative emotions while enhancing positive ones. Here’s how to improve your naps.

7) Challenge yourself

Learning another language can keep your mind sharp. Music lessons increase intelligence. Challenging your beliefs strengthens your mind. Increasing willpower just takes a little effort each day and it’s more responsible for your success than IQ. Not getting an education or taking advantage of opportunities are two of the things people look back on their lives and regret the most.

“There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self.” Ernest Hemingway

8) Laugh

People who use humor to cope with stress have better immune systems, reduced risk of heart attack and stroke, experience less pain during dental work and live longer. Laughter should be like a daily vitamin. Just reminiscing about funny moments can improve your relationship. Humor has many benefits.

9) Touch someone

Touching can reduce stress, improve team performance, and help you be persuasive. Hugs make you happier. Intimate contact may help prevent heart attacks and cancer, improve your immune system and extend your life.

10) Be optimistic

Optimism can make you healthier, happier and extend your life. The Army teaches it in order to increase mental toughness in soldiers. Being confident improves performance.

Bonus:

Email a good friend and make plans.

Research says that to keep friendships alive, you should stay in touch every 2 weeks.

Got 14 friends, then you need to be emailing somebody every day and making plans to get together. Research shows the best use of electronic communication, like email or social media, is to facilitate face-to-face interaction:

The results were unequivocal. “The greater the proportion of face-to-face interactions, the less lonely you are,” John T. Cacioppo, author of “Loneliness: Human Nature and the Need for Social Connection” says. “The greater the proportion of online interactions, the lonelier you are.” 

Facebook is merely a tool, and like any tool, its effectiveness will depend on its user. “If you use Facebook to increase face-to-face contact,” Cacioppo says, “it increases social capital.” So if social media let you organize a game of football among your friends, that’s healthy. If you turn to social media instead of playing football, however, that’s unhealthy.

“Beginning today, set an intention and a relentless focus on living your life as the greatest person you can be, in all situations.” —Brendon Burchard

References:

  1. https://bakadesuyo.com/2012/05/what-10-things-should-you-do-every-day-to-imp/
  2. https://bakadesuyo.com/2013/07/make-your-life-better/

Mindset: Steps to Success

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“A mind is a terrible thing to waste.” ~ Arthur Fletcher

The mind is a powerful and extraordinary thing. And, your mindset shapes your happiness, success and ultimately the direction and destination of your whole life.

Essentially, “mindset is a way of thinking; it is a habitual opinion or attitude that affects thinking”, explains Aaron Jarrels, a Licensed Therapist, and Certified Motivation & Mindset Coach. “A strong and growth mindset is confident, focused, determined, and maintains a desire to learn.”

Your life is a reflection of your habits and thoughts, and habits and thoughts are driven by your mind. Thus, the mind is everything… you become what you feed to it and what you focus on.

By developing the right mindset you can achieve almost anything. A growth mindset on the other hand, rewards those who want to get better at something. When you believe that you are capable of learning to do something, it sparks hope in the future.

Thus, it’s important to design your mindset and life for growth, learning and continuous expansion and improvement. Here are several steps:

1. Positive thoughts and outlook. Use positive thoughts and words to evoke feelings of strength, confidence, courage and success about yourself. Practice being kind and loving to yourself. You need to be able to keep yourself encouraged. Focus on the traits and skills that you like and that are productive, because what you focus on expands. Direct your thoughts towards the belief that you will succeed and achieve your life’s goals. But if you fail, embrace the failure, analyze, learn and grow from what went wrong. Give yourself credit and kudos for having the courage to try.

2. Build systems and a routine. Before you can permanently change your thoughts, you have to change your habits and behaviors. You must take responsibility and be accountable for you actions and behaviors. Discipline, patience and long-term perspective breed a positive mindset because you’re motivated by results and concentrating on achieving your goals. Delayed gratification is a key trait of successful people, states Jarrels. If you cannot control yourself and your desires, you will always be a slave to your impulses. When you develop the ability to maintain self-control, you conquer your biggest foe, your impatience. Owning your faults and how you respond gives you the power to change them.

3. See beyond today and maintain a long-term perspective. What the mind believes, the body achieves. Believe you can win. Visualize and focus on the end result, creating a mental image of the future you’re striving to achieve. Visualizing the desired outcome allows you to begin to accept the possibility of achieving your desired outcome. Perception is reality and the brain can be positively hacked with this simple strategy. And, be mindful of your tongue. If, you catch yourself saying “I can’t” you should stop immediately and replace it with “How can I?” Doing this will prime your mind and brain to look for possible solutions that were not imaginable prior. By asking “How can I?” you are creating a place for the desired outcome as well as the path to get there.

4. Step away from safety and liv outside your comfort zone. Operating in an stress free environment and using a limited set of behaviors won’t increase your performance or growth. It’s facing your fears and dealing with your challenges that allows you to realize your goals and to grow mentally, physically and emotionally. If you take risks and are willing to accept and learn from setbacks, nothing can stop you! Remember, if it scares you and makes you uncomfortable, it’s probably the right course of action to catalyze some next level personal growth.

High performance and growth is not realized when you’re comfortable and steering clear of stressful situations. You’re restricted by your self-imposed limiting beliefs. Becoming abundantly successful in whatever goal you want to achieve is simply a mindset shift away.

Developing a strong mindset takes the decision not to give up. It takes a willingness to grow and become more than you currently are now. It takes a strong determination to focus on what’s good, what’s going well and what’s positive in your life. It takes living a life of faith, rather than a life of fear.

Additionally, a strong mindset is one that sees, what others call failure as lessons and successes as steps along the way.

“The mind is everything. What you think you become.” ~ Buddha

References:

  1. https://aaronjarrels.com/how-to-develop-a-strong-mindset/
  2. Peter Oakden, There’sNo Such Thing as Luck: 4 Steps to Abundant Success, Muscle and Health Magazine: The Wealth Issue, Fall 2022, pg. 89.
  3. https://www.setquotes.com/a-mind-is-a-terrible-thing-to-waste/

Thoughts

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Negative thoughts can make you feel sad and anxious. They take the joy out of life-and they can take a toll on your physical health. That’s why it’s so important to learn how to deal with them.

One way to deal with negative thoughts is to replace them with thoughts that make you feel better. Positive thoughts can make you feel better and more hopeful. And it helps your body too.

Do you have any negative thoughts right now?

Take a minute, listen to your thoughts, and see if you do. If you’re focusing on negative thoughts, remember: You are in charge of what you tell yourself. And, it’s up to you to come up with something more encouraging.

Because of the mind-body connection, your thoughts really can affect your health. By telling yourself more encouraging things, you’re telling your brain to produce chemicals that can:

  • Lower your blood pressure.
  • Reduce your risk for heart disease.
  • Make your immune system stronger so you can resist infection and disease.
  • Lower your stress level and make you feel less anxious.
  • Help you avoid stomach problems, insomnia, and back pain.
  • Make you feel happier and more optimistic about the future.

Sometimes negative thoughts are connected to the way you live from day to day. Here are some things you can try right now to help you see the brighter side of life:

  • Be “mindful” and focus on what you are feeling right now. If you’re sad, feel the sadness. But don’t tell yourself that you have always felt this way and are doomed to feel sad forever. Sadness passes. A negative thought can linger… until you let it go.
  • Share your feelings with someone close to you. Everyone has negative thoughts from time to time. Talking about it with someone else helps you keep those thoughts in perspective.
  • Do something nice for yourself. Maybe you could work less today and play with your kids more. Or you could find something that makes you laugh.
  • Take time to count your blessings. There are so many things for each of us to be thankful for.
  • Eat well. Sleep well. Be active. The nicer you are to your body, the easier it is to feel more positive about yourself.
  • Make social connections. Reach out and enjoy some time with family and friends.

References:

  1. https://myhealth.alberta.ca/Health/Pages/conditions.aspx

Stop focusing on how stressed you are and remember how blessed you are.

Mindfulness: Being Mindful

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Research suggests mindfulness influences how you interpret the world.

“I learned that courage was not the absence of fear, but the triumph over it. The brave man is not he who does not feel afraid, but he who conquers that fear.” ~ Nelson Mandela

To live mindfully is to live in the moment and reawaken oneself to the present, rather than dwelling on the past or anticipating the future. To be mindful is to observe and label thoughts, feelings, sensations in the body in an objective manner.

Mindfulness can help you achieve greater understanding, which in and of itself will bring you peace. It will also help you develop greater inner strength. This will enable you to make better choices in your lives, which will lead to a healthier and more fulfilling life. Being Mindful can mean meditating or simply stopping to smell the roses.

Mindfulness encompasses two key ingredients: awareness and acceptance.

  • Awareness is the knowledge and ability to focus attention on one’s inner processes and experiences, such as the experience of the present moment.
  • Acceptance is the ability to observe and accept—rather than judge or avoid—those streams of thought.

Studies show mindfulness slashes stress, relieves pain, and improves your mood. And scientists are beginning to understand how. One study found that 8 weeks of regular meditation and being mindful can change parts of your brain related to emotions, learning, and memory. Even washing dishes can be good for your brain, as long as you do it mindfully.

As you develop mindfulness through your practice, your emotions will naturally change. The reason is that you begin to identify less with your ego, and you begin to see more clearly your connection with the rest of the world. And when you truly see this interconnection, your loneliness will disappear.

Through mindfulness, your anger and frustration will also subside. As you meditate, your mind will naturally calm down. This will reduce the mental agitation that triggers your unhealthy emotions. They will be replaced with more wholesome emotions, such as love, compassion, and joy.

“Meditation is not evasion; it is a serene encounter with reality.” ~ Thich Nhat Hanh

The more you practice mindfulness meditation, the deeper your understanding of your emotions will be. When you are truly mindful, you are aware of when your emotions arise, what your sources are, and have the inner strength to resist the temptation to fuel the negative emotions, and be able to cultivate the positive ones. This will lead to greater equanimity.

Mindfulness of Your Mind

As you get older, your mental abilities begin to decline. Your memory, concentration, and reasoning ability slowly diminish. This is an inevitable sad truth about growing old. However, not all of your mental decline is due to age, and there is a lot we can do to slow this decline.

Studies have shown that mindfulness meditation helps preserve and even improve your mental abilities. Mindfulness meditation can improve your memory, concentration, and abstract thinking. Several studies have shown that even small amounts of meditation can have a significant impact. The impact is even greater with years of practice.

In addition to mindfulness, another thing you can do to preserve your mind is to keep it active. However, not all mental activity is equally beneficial. Mental activities that require little use of your mind, such as crossword puzzles, have little effect. What has the most impact is learning a new skill, such as a new language. Learning a new skill forces your brain to create new neural pathways.

Proper nutrition can also have a tremendous impact on your mental abilities. This is more a matter of giving your brain what it needs to function at an optimal level. For example, your brain needs a fair amount of protein and fat to work properly. You also need plenty of fluids. When you’re dehydrated, which many of you are, your memory and concentration are greatly diminished.

Physical activity will also improve your mental abilities. In order for oxygen and nutrients to reach your brain, they have to be transported there through our blood, and physical activity improves the blood flow to the brain. You don’t need to do a lot of exercise to get the health benefits. Sometimes just walking regularly is enough to improve the blood flow.

Mindfulness encompasses awareness and acceptance, which helps you understand and cope with uncomfortable emotions, allowing you to gain control and relief. To cultivate these skills, concentrate on breathing to lengthen and deepen your breaths. Notice your thoughts and feelings, and practice curiosity and self-compassion.

References:

  1. https://www.psychologytoday.com/us/basics/mindfulness
  2. https://www.webmd.com/fitness-exercise/ss/twelve-habits-super-healthy-people
  3. https://mindfulnessmeditationinstitute.org/2020/12/05/find-greater-happiness-in-your-retirement-through-mindfulness/

Warren Buffett Investing Lessons

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“Most people get interested in stocks [or assets like Bitcoin] when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.” – Warren Buffett

Warren Buffett, Chairman and CEO, Berkshire-Hathaway, the Oracle of Omaha, has been the most successful investor of the 20th Century and is considered by many to be one of the greatest investors of all time.. His investment track record is simply remarkable with compounded annual returns over 20% over the last 55 plus years.

Essentially, if you had invested $10,000 USD in his investment firm Berkshire-Hathaway in 1965, that $10,000 USD would today be worth over $280 million US dollars.

What follows are several investing lessons all investors can learn from Buffett:

Investing Lesson 1: Risk Comes From Not Knowing What You are Doing

Many first-time investors have started trading in stocks and cryptocurrency without really understanding how these asset classes work. Buffett has advised investors to not chase everything that is new and shiny, and instead to only focus on the opportunities that they painstakingly researched and understand.

Stick to your circle of competence. Try not to be good at all things, and instead try to be great at one thing and give it all you`ve got. It`s better to be known for one thing than nothing.

“Never invest in a business you cannot understand.” Warren Buffett.

Investing Lesson 2: System Overpowers the Smart

Buffett advises that retail investors use a low-cost index fund. Investing via index funds gives you the advantage of a system, it allows for a disciplined investing cycle via SIPs and keeps emotions away from corrupting that framework. In other words, Buffett wants retail investors to follow a system over everything else.

And the system and a clear investing framework finding great business at good reasonable prices that have powered Berkshire Hathaway for the last five decades.

Change the way you see setbacks. You will make mistakes, probably lots of them, as long as you choose to swing for the fences. Buffett believes you can do well if you program your mind to see opportunities in every setback.

“A low-cost index fund is the most sensible equity investment for the great majority of investors.” Warren Buffett.

Investing Lesson 3: Have an Owner’s Mindset

Buying a stock is effectively buying a business and investors should follow the same kind of rigorous analysis and due diligence as one would do when buying a business.

The lesson here is that instead of getting too caught up in the recent movement of the stock price, you should spend more time analyzing the business fundamentals behind the stock price.

You can only genuinely value a business if you can accurately predict future cash flows. This is impossible without an understanding of the company’s operating environment and fundamentals.

And once you have answers to the pertinent questions, invest in a business that you would like to own for the next 10 to 20 years.

On how to invest in stocks. His response is a simple five-word answer: “Invest in the long term.”

“That whole idea that you own a business you know is vital to the investment process.” Warren Buffett

Investing Lesson 4: Be Fearful When Others are Greedy and Be Greedy When Others are Fearful

The stock markets work in cycles of greed and fear. When there is greed, people are ready to pay more than what a business is worth. But when fear sets in, then great businesses are available at huge discounts for anyone who is ready to keep their gloomy emotions aside.

In Berkshire’s 2018 shareholder letter, Buffett wrote, “Seizing opportunities does not require great intelligence, a degree in economics or a familiarity with Wall Street jargon such as alpha and beta. What investors need instead is an ability to both disregard mob fears or enthusiasms and to focus on a few simple fundamentals. A willingness to look unimaginative for a sustained period — or even to look foolish — is also essential.”

In other words, Buffett encourages investors to not follow the herd. And strip away emotions when making investment decisions, which is likely to open up more profitable opportunities.

“What investors need is an ability to both disregard mob fears or enthusiasms and to focus on a few simple fundamentals.” Warren Buffett

Investing Lesson 5: Save and Preserve Capital for A Golden Rainy Day

Warren Buffett goes by the philosophy – hold onto your money when money is cheap and spend aggressively when money is expensive.

Financial expert criticized Buffett for holding onto billions of dollars in cash and not deploying it in stocks. But Buffett was saving all that cash to be used when companies come down from the then astronomical valuations to more reasonable prices.

“Every decade or so, dark clouds will fill the economic skies and they will briefly rain gold. When a downpour of that sort occurs. It is imperative that we rush outdoors carrying washtubs and not teaspoons.” Warren Buffett

Investing Lesson 6: Never Invest Just Because a Company is Cheap

A cheap business may be cheap for a very good reason, but may not be a profitable or favorable investment.

His investing approach is to look at a business’s competitive advantage, intangibles like brand value, cost superiority and its strong growth prospects.

This goes hand-in-hand with his Buffett’s first rule of investing is “don’t lose money.” His second rule is “never forget rule number one.” In short, investors should try to avoid significant losses at all costs, but avoiding all losses is impossible.

“It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price,” Warren Buffett

Investing Lesson 7: Time is The Friend of The Wonderful Business

Patience and time are important in investing and has investors can reap the benefits of compounding.

Additionally, “cash is king” and investors must avoid debt at all costs. Buffett has always had a strong net cash position. Cash gives optionality and means you’re unlikely to have to make hard decisions when the market becomes volatile and eventually turns.

Considering volatility, Buffett said, “There is simply no telling how far stocks can fall in a short period. Even if your borrowings are small and your positions are not immediately threatened by the plunging market, your mind may well become rattled by scary headlines and breathless commentary. And an unsettled mind will not make good decisions.”

Buffett is not a fan of the kind of debt that can leave consumers broke and helpless, especially when the markets go down.

“It is insane to risk what you have and need in order to obtain what you don’t need,” Warren Buffett

Investing Lesson 9: Keep It Simple

An element of simplicity is important. Buffett himself follows a simple to understand investing framework, which can best be defined as buying stakes in a business where the price you pay is far lower than the value you derive. He wants investors to invest in simple and understandable instruments only and using a process that one can easily digest.

For example, if you don’t understand cryptocurrency, don’t invest, trade, or speculate in Bitcoins or glamorous-looking investment vehicles we are exposed to every year.

“If you are uncomfortable with the asset class that you have picked, then chances are you will panic when others panic,” Warren Buffett

Finally, treat your body and mind like the only car you could have. If someone offered you the most expensive car in the world with a single condition that you never get another one, how will you treat this car?

With this analogy in mind, Buffett urges you to treat your body and mind the same way you treat your one, and only car. If you don’t take care of your mind and body now, by the time you are forty or fifty you’ll be like a car that can’t go anywhere.

Investing Bottomline

Buffett’s lessons are simple and straightforward. He submits to keep it simple, improve upon what you know, stay within your circle of competence and comfort zone, and there are enough opportunities for one to thrive in investing.

References:

  1. https://www.etmoney.com/blog/9-lessons-in-investing-by-warren-buffett/
  2. https://thetotalentrepreneurs.com/business-lessons-warren-buffet/
  3. https://addicted2success.com/life/5-lessons-we-can-all-learn-from-the-life-of-warren-buffett/
  4. https://finance.yahoo.com/news/5-warren-buffetts-most-important-224429018.html

Recession…recessions always come with significant increase in unemployment. It’s basically definitional. Employment and gross domestic product fall together during a recession.

Life Purpose in Five Minutes

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Adam Leipzig gave a TED talk regarding discovering your Life Purpose in 5 minutes. In his talk, he discusses a five step process to find meaning and purpose in your life.

In a non-scientific survey of Yale University classmates attending a college reunion, Adam Leipzig discovered to his dismay — despite financial, material and career success — that:

  • The majority of attendees, eighty percent (80%), were unhappy with their lives, and
  • A minority of attendees, twenty percent (20%), were happy

He explained that the people who were happy with their lives knew their life purpose.  For this to take 5 minutes, you need to already know the answers to these 5 things or questions:

  1. Who you are
  2. What you do
  3. Who you do it for
  4. What those people want or need to better their lives
  5. How the people you serve change or transform as a result of what you gave or did for them.

The most successful and happy people in almost every field and walk of life  are outward focus and focus on the people they serve first and foremost.

So, when people ask you, “what do you do”, just respond how what you do changes the lives of people. For example: “I help people build wealth, better manage their money, and achieve financial freedom”.  In a way, this can become your personal brand and elevator pitch. And it can be that simplite.

Adam Leipzig is a producer, executive and distributor. and has produced more than 300 stage plays and live events, and one of the founders of the Los Angeles Theatre Center.

Your Life Purpose comes down to what you really want to do to serve others and what you really enjoy doing to serve other, in the end. What you feel the most alive and happy doing while serving others.

References:

  1. https://www.transcendyourlimits.com/find-life-purpose

Dare to be Daring

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“I believe that the most important single thing, beyond discipline and creativity, is daring to dare.” ~ Maya Angelou

Risk-taking is the act of exposing yourself to potential failure, danger, harm, or loss.

While that might not always sound like a great idea and may push you beyond your personal comfort zone, the adage, “No risk, no reward” rings true regardless of how you feel about potential failures. You have to put yourself out there and move beyond your comfort zone in order to get what you want and to succeed.

History is repeat with those individuals who took the biggest risks and fought against the greatest odds and they were the ones that have been remembered. “You can’t outwit fate by standing on the sidelines placing little sidebets about the outcome of life. Either you wade in and risk everything you have to play the game or you don’t play at all. And if you don’t play you can’t win,” states Judith McNaught.

“It’s not because things are difficult that we dare not venture. It’s because we dare not venture that they are difficult.” Seneca

Thus, dream boldly and reach for the stars. You, and most people, are more capable and able to live their dreams and achieve the big audacious goals if only they’re willing to believe, focus, work hard, be patient and persist. “It seems to me that people have vast potential. Most people can do extraordinary things if they have the confidence or take the risks. Yet most people don’t. They sit in front of the telly and treat life as if it goes on forever,” writes Philip Adams

References:

  1. https://www.inhersight.com/blog/career-development/taking-risks-quotes
  2. https://www.maverickmindsets.com/blog-posts/quotes-on-risk-taking/

“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, and catch the trade winds in your sails. Explore. Dream. Discover.” ~ Mark Twain