Wealth Building mindset and habits rules:

• Everything in life compounds…use it wisely
• Invest in assets
• Always use a margin of safety
• Create great money habits
• Spend what is left after saving
• Set clear financial goals and create a financial plan
• Control your time; learn to say “no” to things that do not align with you vision, values and goals
• Real wealth is created by solving problems
• Have multiple income streams
• Diversify your investments
• Surround yourself with smart people
• Invest in yourself, continue to learn and grow
• Buy income-generating assets
• Financial education is key
• Work for money. Then let money work for you
• Simplify your life and practice gratitude
• Focus on achieving financial freedom
• Track your monthly expenses
• Pay yourself first and focus on your health
• Live below your means; spend less than you earn
• Secure your future income…let your assets produce income while you sleep

Source: Compounding Quality https://x.com/qcompounding/status/1746198458040557966?s=46&t=mF_tsrQnjgviyl62GYfJjw

You’re never too young to invest. Starting early to invest in stocks is a major advantage.

In your 20s, and even your 30s, your biggest investment  asset is time. Even when you’re just investing in retirement savings, nothing can make up for the effect of compound interest. Also, if you lose money in the market, you’ll have more time to make it back before you need it.

Your savings account isn’t invested in anything …

You do earn interest on money in savings, but it’s usually less than 1%, and that money sits in the bank. If you’re looking for a better place to keep your cash, high-yield savings accounts pay more like 4% to 5%, but note that rates fluctuate over time.

… but your retirement savings are.

Retirement savings, on the other hand, are invested if you put them in a retirement plan like an IRA or 401(k). This isn’t the case if you simply name your savings account “retirement.”

Investments are one of the only ways to keep up with inflation.

Inflation lopped an average of 3.1% off your money’s value in 2023, so you need your money to grow fast enough to outpace inflation. For most people, investing is the only way to get that kind of growth.

Investing is always a risk.

Investing could earn you money or lose it. Investments typically aren’t FDIC-insured like a bank account, meaning there’s the potential to lose money for good.

A security is a financial instrument. 

You’ll probably hear people refer to “securities,” which is a catch-all term for things like stocks, bonds, or CDs. Securities are divided into debt securities (money owed to us, like from a government bond), and equity securities (actual value we own, like stocks).

Stocks are equity in a company.

When you buy a stock, you’re buying a tiny little piece of an actual company. Not a lot, but ownership nonetheless. Stocks are more volatile than bonds, and may therefore yield greater rewards or losses.

The stock market lets you track stock performance. 

Stocks are traded on “exchanges,” which make up the overall market. The major stock exchanges in the US include the New York Stock Exchange (NYSE) and the Nasdaq. Stock prices are also tracked on indices such as the S&P 500 and the Dow Jones Industrial Average. While you’ll want to check in with your individual investments, monitoring stock market activity can give you an idea of how your portfolio might be performing.

Bonds are loans you make.

When you purchase a bond, you’re essentially loaning a little money to an entity — like the US government, for instance — and that entity has to pay you back after a fixed period of time, with interest. There aren’t bond exchanges that show up in a ticker, because bonds are traded differently than stocks. However, there are sites where you can get an idea of bond pricing, like Markets Insider.

Diversification means spreading your money out among different kinds of investments.

There are a lot of opinions out there about how diversified an investment portfolio needs to be, but most everyone agrees that putting all of your financial eggs in one basket is a recipe for disaster.

The ROI is how much money you make on your investments.

To get an idea of how well your investments are performing, you can calculate the ROI by dividing an investment’s gains by its costs.

You’ll be charged fees. 

Investing isn’t free. If you’re working with an investment professional, you’ll pay them either a percentage of your portfolio or a flat fee (you’ll want to know if your advisor is “fee-based” or “fee-only” before you sign on), online investment platforms or “robo-advisors” each have their own fee structures, and some mutual funds and ETFs also charge fees. These fees vary, and if you do your research, you can minimize them.

No one can or has ever reliably predict or forecast the stock market.

Pundits and friends just can’t. While professionals can make educated guesses, predicting the market is predicting the future, and no one can do it.

And past market behavior isn’t a reliable way to predict the future.

On that same note, looking at what the markets have done isn’t a reliable way to predict what they will do. Again, this is a case of predicting the future, which could go in an unexpected direction due to unforeseen events known as “black swans.”

References:

Ray Charles’s recordings are major landmarks in American culture.

By combining Gospel with R&B, he pioneered soul music, and his groundbreaking move into Country music during the heart of the Civil Rights Movement broke racial barriers, while elevating Country music to world-wide popularity for the very first time.

Ray Charles uniquely succeeded in recording and blending virtually every genre of music including soul, R&B, jazz, blue country, rock and pop in unique and unprecedented ways. This visionary singer, songwriter, pianist and composer brought his expansive musical vision to a worldwide audience and forever changed the face of American Music.

Researchers believe that people who maintain a more positive mindset may be better protected against the long-term inflammatory damage of stress.

Also, researchers believe that positive thinking can help people make better health and life decisions and focus more on long-term goals.

Studies also find that negative emotions can weaken immune response.

The bottomline is that there is definitely a strong link between “positive thinking” and health.

There are steps you can take to improve your outlook and improve your health and well-being, according to John Hopkins.

Simply smile more.

A University of Kansas study found that smiling—even fake smiling—reduces heart rate and blood pressure during stressful situations.

Practice reframing.

Instead of stressing about a traffic jam, for instance, appreciate the fact that you can afford a car and get to spend a few extra minutes listening to music or the news, accepting that there is absolutely nothing you can do about the traffic.

Build resiliency.

Resiliency is the ability to adapt to stressful and/or negative situations and losses. Experts recommend these key ways to build yours:

• Maintain good relationships with family and friends.
• Accept that change is a part of life.
• Accept responsibility and take action on problems rather than just hoping they disappear or waiting for them to resolve themselves. 

References:

1. https://www.hopkinsmedicine.org/health/wellness-and-prevention/the-power-of-positive-thinking

Once you achieve success selling, “You recognize opportunities everywhere because you believe in yourself.” ~ Fredrik Eklund, author of The Sell

Knowing how to sell a product or service is an important skill. Learning more about how to sell regardless of the customer can help you improve your skills and develop strategies for success.

In this article, here are six tips for how to sell anything to anyone.

First, it’s essential that you research your customer.  It’s important to know who you’re selling to because it helps you communicate effectively to your them, which can then lead to more sales.

Learning more about the customer’s needs, wants, lifestyle, motivations and perspective. From there, you can adapt your sales pitch accordingly. For example, if you know that a customer is interested in convenience, you can focus on the aspects of a product that make it easy to use.

1. Don’t just sell products and services. Sell results and solutions.

Don’t talk about what your product can do. Take time to list the benefits of your products and services and how they might improve your customers’ lives. Talk about what the product can do for your customers.

You don’t sell a camera by saying it can shoot video at 25,600 ISO. You sell it by telling people it can shoot video in the moonlight.

2. Get into your customer’s world.

Talk about what they care about…their problems, fears, and desires. Then start discussing ways they can solve them with your product or service. They’re likely to give an immediate “Yes!”

3. We are emotional creatures, not logical.

Sell towards emotions and feelings. For instance, if you want to sell a family business, you can discuss your family’s problems and explain how you feel about their situation.

Additionally, selling yourself is important because it helps you communicate your own value and can create a personal connection. When customers can envision your value, they may be more likely to trust you and feel comfortable enough to buy from you.

4. Be Specific.

Don’t say, “Lose weight fast.” Instead, say: “Lose 10 pounds in 3 weeks without diet and exercise!”

5. Take advantage of FOMO (fear of missing out)

Set a hard deadline when the sale ends and create a sense of urgency.

– Show social proof
– Use countdown timers
– Highlight limited availability
– Use language that creates urgency

6. Don’t make it boring.

Be entertaining, exciting and exotic. Don’t sound like a generic company. Put jokes in your text. Be different.

Finally,

• People want to do business with someone they like.
• Selling is nothing more than playing up the good and playing down the bad.
• Every successful person knows how to fail well.
• Everybody wants what everybody wants.

References:

1. https://www.indeed.com/career-advice/career-development/how-to-sell-anything

“Autophagy, literally translated as ‘self-eating,’ promises clear skin, more energy, and weight loss. Autophagy is triggered at around the 17-hour mark and peaks at 72 hours.” 

To trigger something called autophagy, which means ‘eating itself,’ through this process, old cells are broken down and recycled to form new cells.

It has been hailed as the answer to everything from reducing the symptoms of long-term COVID-19 to nixing tiredness to losing stubborn fat. Its proponents talk about its vast effect on the body and how it offers a spring clean of sorts.

Michelle McKenzie, a nutritionist who designed a fasting-mimicking diet, says, “Autophagy means self-eating, and it’s like a recycling plant, taking the waste and damaged cells which aren’t functioning as well, then using them to make new cells and proteins.”

Dr Valter Longo devised a fasting-mimicking protocol, a way to eat thrice daily while your body still thinks it’s only getting water. With the food being minimal and portions minuscule, rations are measured to make sure they come under the threshold to keep the body in fasting mode. But, still, better than just water, I tell myself. And, besides, I want all those touted benefits.

References:

https://www.standard.co.uk/lifestyle/autophagy-fasting-benefits-what-is-it-how-to-b1111484.html

“We became successful by buying great businesses and holding on. We didn’t get to be successful by buying and selling.” ~ Ron Baron, Founder, CEO and Chairman Baron Capital

In a world focused on short-term results, fads, and news, most people overlook the power of acquiring and holding valuable assets. It’s important to adopt a mindset that emphasizes the long-term benefits of ownership.

Ron Baron’s philosophy:  Not taking risk is the greatest risk. Question everything. Standard of performance comes from the top (CEO). Belief before ability…The most successful people believe in themselves almost to the level of delusion. Obsession. Exceptionalism takes time.

Baron Capital’s Approach to High-Conviction Investing

Conviction is having a strong belief in the fundamental underlying value and growth prospects of an investment, based on thorough and ongoing research and analysis.

Investors with high conviction believe that their investment in a particular stock, asset, market sector, or investment strategy has a solid foundation and is likely to succeed over the long term, despite market volatility or contrary opinions.

Conviction is an integral risk management mechanism. While diversification is traditionally associated with risk reduction, Baron Capital believes that investing more in the companies they know best results in lower risk. Thus, at Baron Capital, conviction-based investing is less a strategy and more a philosophy – a philosophy that honors the depth of insight over the breadth of selection.

Conviction-based investing is at the core of Baron Capital’s portfolio construction and management processes. Their strongest skill is their ability to thoroughly research and understand the inner workings of a business, analyze its growth trajectory and competitive advantages and how robust they are, and assess how qualified and motivated management is.

“Owning awesome businesses and holding on to these great investments for the long-term, not buying and selling, is the secret sauce to build wealth.” ~ Ron Baron, Founder, CEO and Chairman Baron Capital

References:

1. https://www.baronfunds.com/conference-2023
2. https://www.baronfunds.com/sites/default/files/quarterly-report-9.30.2023._0.pdf

“Worry never robs tomorrow of its sorrow, it only saps today of its joy.” ~ Leo Buscaglia

In raggae legend Bob Marley’s lyrics, he sang:

“Don’t worry, about a thing
‘Cause every little thing, gonna be all right
Singin’, don’t worry, about a thing
‘Cause every little thing, gonna be all right…”

Unfortunately, many people fail to heed Marley’s sage advice to not worry, since constant worrying, negative thinking, and always expecting the worst can take a toll on your emotional and physical health.

It’s been demonstrated that worry and anxiety robs you of joy, peace of mind and your health. Dr Charles Mayo, founder of the Mayo Clinic stated, ‘There’s a growing mountain of evidence to suggest that worry is the chief contributor to depression, nervous breakdowns, high blood pressure, heart attacks, and early death. Stress kills. I’ve never known a man to die from hard work, but I’ve known a lot who died from worry.’

‘Do not fret or have any anxiety about anything.’ Philippians 4:6 AMPC

Worry is like a rocking chair; it uses up all your energy but where does it get you?

Leo Buscaglia writes, ‘Worry never robs tomorrow of its sorrow, it only saps today of its joy.’ He’s right!

Mathematically speaking, it doesn’t make sense to worry. Psychologists tell us that roughly 30 per cent of what we worry about never happens; another 30 per cent has already happened; 12 per cent is about unfounded health concerns, and an additional 20 per cent involves worrying about the little things. That leaves only eight per cent. Think about that! We worry 92 per cent of the time for no good reason at all, and it’s killing us.

What’s the answer?

‘Do not worry about anything, but pray and ask God for everything you need, always giving thanks. And God’s peace, which is so great we cannot understand it, will keep your hearts and minds in Christ Jesus. Brothers and sisters, think about the things that are good and worthy of praise. Think about the things that are true and honourable and right and pure and beautiful and respected…And the God who gives peace will be with you’ (Philippians 4:6-9 NCV). That’s God’s answer to worry!

Prayer Point:

Father, I so crave peace in my life, when so much is in turmoil. Help me to meditate on Your Word today and create an oasis of peace within me. I pray that Your Holy Spirit would come and dwell in my life and slowly build up my ability to handle the pressure I feel under. You are Lord over every circumstance; I submit my life to You today. Amen.

May Peace, Joy and Abundance of God be with you today and always!