Category Archives: #BrownleeGlobal

Vaccination and Economic Recovery

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

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

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

Yet, there are a few reasons for optimism.

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

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

    References:

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

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

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

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

    The key to a happy and abundant life

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

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

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

    1. Relationship with Friends and family

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

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

    2. Forgiveness

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

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

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

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

    3. Giving

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

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

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

    4. Gratitude

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

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

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

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

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

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

    References:

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

     

    Personal Investment Philosophy

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

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

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

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

    A personal investment philosophy guides your investment decisions

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

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

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

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

    Rollercoaster of emotions of the retail investor.

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

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

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

    “Beat the market” strategies almost always fail

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

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

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

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

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

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

    References:

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

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

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

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

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

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

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

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

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

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

    References:

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

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

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

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

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

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

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

    References:

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

    Public Speaking—Most Persuasive Things People Do

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

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

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

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

    The Greek philosopher believed the most persuasive people do:

    1. They think about their audience, not about themselves

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

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

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

    2. They make their audience happy

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

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

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

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

    3. They speak in their audience’s language

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

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

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

    Being a great public speaker

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

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

    Tips for preparing your speech

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

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

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

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

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

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

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

    References:

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

    Just Buy Low Cost Index Funds

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    “The less you spend on investing, the more you get to keep.”. Rick Ferri

    When investors who don’t manage their costs, they pay a significant price for their inaction and inexperience. As John Bogle has famously said, “In investing, you get what you don’t pay for.” The primary issue is that investment product providers, especially annuities and actively managed funds, and financial intermediaries are selling commission-based products that take advantage of unsophisticated investors by marketing high-fee, high-commission funds that earn low returns. 

    Cost Matters Hypothesis.

    It costs money to try to beat the market, according to Bogle, and you pay whether or not the manager succeeds. When a group of financial people try to out perform the market, some will win and be successful, some will lose, but collectively they will get the market’s return—before fees. After fees, they will get much less. Bogle once calculated that “active stock investors lose close to 3% a year in fees, trading costs and taxes.”

    “Costs matter. They matter more than past performance.” John Bogle

    Occasionally, you might get lucky for a year or five or ten. Eventually, though, your luck will run out. With each passing year it becomes more likely that you will be overtaken by the law of averages.

    Buffet advice to investors

    Billionaire investor Warren Buffett recommends that most investors should buy low-cost index funds. In his sage opinion, buying index funds would go a long way toward solving this serious problem of overpaying for investments. Buffett’s recommends inexperienced investors and investors without time or inclination to conduct research buy index funds. His view is that index funds, such as those that mimic the S&P 500 benchmark, are a smart investment that almost anyone can follow.

    “Costs really matter in investments,” Buffett says in a CNBC interview. “If returns are going to be 7 or 8 percent and you’re paying 1 percent for fees, that makes an enormous difference in how much money you’re going to have in retirement.”

    The appeal of index investments is their low cost compared to most actively managed mutual funds and ETFs. With active funds and ETFs, according to Fidelity Investment, a manager attempts to deliver performance that outpaces a chosen index, often referred to as a benchmark. Passive ETFs and mutual funds, on the other hand, try to match the performance of a benchmark.

    Benchmarks may include familiar indexes such as the S&P 500, as well as custom benchmarks created by a fund’s managers. Passive investments may not offer the potential to outperform an index, but they typically offer lower costs than active funds managed against a similar index or benchmark.

    When evaluating cost, most investors focus on the expense ratio—the annual percentage of assets that mutual funds and ETFs charge investors to cover services such as investment management, recordkeeping, compliance, and shareholder services. In general, these costs are much lower for passive strategies than for active ones. And, even this expense that can vary dramatically even among seemingly similar passive index funds and ETFs.

    Labor Secretary Thomas Perez said during a Senate panel meeting: “The problem with our [financial] system in the U.S. is it incentivizes complexity when simplicity is all too frequently what’s called for. … It incentivizes complexity because complexity generates more fees.”

    The solution and best defense against those who prey on investor ignorance, according to Rick Ferri, is investor education and requiring financial literacy in our schools and colleges. Perhaps we need to scream continuously, “Just buy low-cost index funds!” every time an investor is pitched a hyped-up mutual fund advertisement or a high-cost fund.

    Investing in index mutual funds and ETFs can be an outstanding low-cost strategy. And, like any other investment strategy, investing in index funds requires that you understand what you are investing in. You need to ensure that you are investing in a low-cost product that tracks a benchmark that fits with your investing strategy.

    References:

    1. https://rickferri.com/forewarned-is-forearmed-on-investment-expenses/
    2. https://www.cnbc.com/2018/01/03/why-warren-buffett-says-index-funds-are-the-best-investment.html
    3. https://www.fidelity.com/viewpoints/investing-ideas/how-to-shop-smart
    4. http://johncbogle.com/wordpress/

    Defense Secretary Lloyd Austin III

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    Austin has broken racial barriers throughout his four decades in the U.S. Army.

    Newly confirmed Defense Secretary Lloyd Austin III took office Friday as the first Black defense chief. Retired Army General Austin, 67, is a 1975 graduate of the U.S. Military Academy at West Point. He helped lead the invasion into Iraq in 2003, and eight years later was the top U.S. commander there, overseeing the full American troop withdrawal.

    General Austin was only the sixth African-American four-star general in Army history. Austin gained confirmation after clearing a legal hurdle prohibiting anyone from serving as defense chief until they have been out of the military for seven years. Austin retired less than five years ago, but the House and Senate quickly approved the needed waiver, and President Joe Biden signed it Friday.

    President Biden said he chose retired Gen. Lloyd Austin III for defense secretary because of his experience and integrity, calling the retired soldier “the definition of a patriot.”

    The top Democrat on the Senate Armed Services Committee said that Austin is an “exceptionally qualified leader” who pledged to uphold civilian control of the military during his confirmation hearing.

    The retired four-star Army general told senators that the Pentagon’s job is to “keep America safe from our enemies. But in the wake of the deadly insurrection at the U.S. Capitol, where retired and current military members were among the rioters touting far-right conspiracies, we can’t do that if some of those enemies lie within our own ranks.”

    He said that military leaders must set the right example to discourage and eliminate extremist behavior. They must get to know their troops, and look for signs of extremism or other problems, he said.

    But Austin — the first Black man to serve as head of U.S. Central Command and the first to be the Army’s vice chief of staff — also knows that much of the solution must come from within the military services and lower-ranking commanders. They must ensure their troops are trained and aware of the prohibitions.

    “Most of us were embarrassed that we didn’t know what to look for and we didn’t really understand that by being engaged more with your people on these types of issues can pay big dividends,” he said, recalling the 82nd Airborne problems. “I don’t think that you can ever take your hand off the steering wheel here.”

    Austin describes himself as the son of a postal worker and a homemaker from Thomasville, Georgia, who will speak his mind to Congress and to President Biden.

    References:

    1. https://www.militarytimes.com/news/your-military/2021/01/24/for-1st-black-pentagon-chief-racism-challenge-is-personal/
    2. https://www.militarytimes.com/news/pentagon-congress/2020/12/08/biden-heres-why-i-chose-lloyd-austin-for-defense-secretary/

    Never too Late to Become healthier

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    “We’re experiencing a health care crisis that no one talks about, and it’s not the second wave of the pandemic: We are a nation of couch potatoes, and it’s literally killing us.” James P. Owen, Founder and CIO of the Center for Cowboy Ethics and Leadership and bestselling author of The Try: The Secret to Success in Life and Career, Cowboy Values: Recapturing What America Once Stood For

    In a study published in The New England Journal of Medicine, researchers predicted that nearly half of Americans will be obese by 2030, up from .

    Health experts have long known that being physically fit substantially reduces the risk of serious chronic illnesses such as Type 2 diabetes, heart disease and cancer, and Americans have much more control over the aging process than we think.

    How you age is largely up to you

    While you can’t help getting older, you don’t have to get old.  It is important that you make wellness a personal priority.  Remember that you can take charge of the aging process and make your life the best it can be.

    “It’s never too late or too difficult to become healthier, but there are no shortcuts. No matter what shape you’re in or what your physical condition, there is something you can do to lead a healthier, more rewarding life.” James Owen

    Healthy living gives you a sense of purpose that can motivate you every day.

    With determination, you can slowly and gradually take control of your health,  Through a systematic approach, you can begin with daily 10-minute walks, moderate strength-building exercises and eating healthier.

    With persistence, your ultimate goal might be to create a body that’s a decade younger than one’s actual age.  There is a payoff from regular exercise. Regular and deliberate exercise can really boost your health and confidence.

    The motivation can be as simple as to get rid of aches and pains, and develop a mind-set of training one’s body, mind and spirit. Adults, especially older adults, need to take care of themselves in body, mind and spirit.

    “Most people think the payoff from regular exercise is physical—look younger, live longer, feel better,” James Owen says. “All that is true, but by far the most profound change I experienced was mental. For example, every time I met a goal I’d set for myself, like going from two pull-ups to three, it was another boost to my confidence. And I’d think, ‘I did it! Now what else can I do?”

    “Everybody is going to die someday. The quicker you understand that, the sooner you can get on with the business of living”, Owen explains. Thus, “it’s imperative you prepare for the next phase of life.  And, try to ignore all that noise and enjoy life.”

    Make time for your loved ones. You are not promised tomorrow so make the most of today.

    At the end of the day family is all you really have. Stay in close contact with siblings and other family members. And if you have been at odds with a family member, make peace with them now. It doesn’t matter how it all started or who was to blame. Carrying grudges is bad for your health and it makes family gatherings like Thanksgiving unpleasant.

    Don’t interfere with something that ain’t bothering you.  There is no need to elevate your blood pressure any more than you have to over things you can’t control or do anything about.

    Live a good honorable life. Then when you get older and think back you’ll enjoy it a second time.

    Maintain your health and boost your wealth. Since health is the most important thing here and we’ve all learned just how dangerous to your health COVID can be.

    Regardless of your age, it’s important to schedule regular medical and financial checkups to assess where you are and what you may need to change to reach your health and wealth destination.

    It is suggested that you develop metrics for your physical fitness; and rather than fear those numbers, welcome a signal that it’s time to switch to a healthier lifestyle or make financial course corrections.

    Cherish your memories. Look back and see how far you have come and give yourself a pat on the back. It may not have always gone the way you wanted but if you lived an honorable life and always strived to do the right thing you should feel justly proud.

    Staying active and having a positive, youthful attitude builds up resilience to face any health crisis.  “With a little creativity and commitment to do something, each of us can find some way to make a difference, however modest …. when we get involved in a personal, hands-on way, it sets up a completely different dynamic: one in which whatever time and energy we give yields a rich dividend in terms of the satisfaction and expanded awareness we get back.”  James Owen, Cowboy Values: Recapturing What America Once Stood For (Connecticut: The Lyons Press, 2008)

    References:

    1. https://www.marketwatch.com/story/anyone-can-make-money-this-retired-wall-street-investor-wants-to-motivate-americans-to-get-off-the-couch-2020-09-30
    2. https://www.nejm.org/doi/10.1056/NEJMsa1909301
    3. https://www.foxnews.com/opinion/a-cowboys-guide-to-aging
    4. https://carolynmappleton.com/cowboy-ethics-ten-principles/
    5. https://theartofagingwell.com/wellness-checklist-a-10-point-survival-guide/

    Financial Literacy and Positive Future Financial Outcomes and Behaviors

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    Financial Literacy Is Significant Indicator of Positive Future Financial Outcomes and Behaviors

    The first step for Americans to achieve a financially stable and secure tomorrow is to measure and manage your current personal financial situation. You can do this by taking a proactive approach to managing your money and controlling your spending.

    Furthermore, it important to recognize the warning signs that a financial hardship may be in your future. If you’ve fallen behind in your credit card payments, are receiving calls from collection agencies, or financial issues are affecting your home life, financial literacy can provide you the skills and knowledge to help you take control of your finances.

    Only 17 U.S. states require a financial literacy course in high school which might explain why U.S. adults averaged an “F” on a recent survey about financial literacy.

    Taking control of your financial future and start building wealth

    If you’re like most Americans, you’ve thought about financial literacy, saving, investing and building wealth.  Maybe you’ve already started. Or maybe you’re still behind the financial curve. All that matters now is that you’re heading down the responsible path of financial illiteracy and building your wealth. Because this isn’t just about making your money work for you – it’s about ensuring your current and future quality of life.

    And whether that means retiring early, supporting your family, or simply having the financial safety net to pursue your long-forgotten dreams, financial literacy and getting started investing are critical.

    “Achieving financial literacy for all Americans has always been an important goal”, said Harvey L. Pitt, Chairman, U.S. Securities and Exchange Commission in testimony before an U.S. Senate Committee.  “With so many individuals and employees, through their employer’s 401K plan, invested in  markets, financial literacy is now not only important but an essential skill and goal.”

    Budgeting, saving and investing for retirement.

    All Americans should have the opportunity and the wherewithal to participate in financial markets. Financial literacy is a crucial foundation for participation and being successful. People need to be able to “read, write and speak” basic financial concepts in order to make informed investment decisions.

    Beyond basic fairness issues, there are significant economic and social benefits of financial education. People of even modest means can realize financial peace of mind and financial security and all that it promises — such as buying a home, pursuing educational opportunities and retiring with dignity. As a society, we should want all Americans to have the opportunity and the ability to focus on building up their savings accounts and to invest in financial markets. Historically, investing in the market has resulted in returns superior to other savings strategies and financial assets.

    References:

    1. https://www.sec.gov/news/testimony/020502tshlp.htm
    2. https://www.nfcc.org/resources/client-impact-and-research/2019-consumer-financial-literacy-survey/#:~:text=The%202019%20Consumer%20Financial%20Literacy%20Survey%20was%20conducted,overview%20of%20financial%20literacy%20statistics%20in%20the%20U.S.
    3. https://militaryfamilyadvisorynetwork.org/milcents/

    We’re passionate about teaching financial literacy advising others how to save for the future, invest for the long term and build wealth for those who want to achieve financial security and comfortable retirement.

    “Once you find the thing that you will do for free, then that’s the thing that you’re going to end up doing for a lifetime.’”