Category Archives: Mindset

Attitude of Gratitude

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“The secret of happiness, you see, is not found in seeking more, but in developing the capacity to enjoy less.” – Socrates

Gratitude is good for your body, your mind, your wealth, and your emotional well-being. Yet, Americans usually equate happiness to having more in life. And by more, think of monetary or physical possessions — a bigger house, larger bank account, more clothes, the latest gadgets, a faster car. Yet, once you acquire more shiny brand new things, rarely do you find yourself any happier and satisfied.

Instead of acquiring more stuff, the Greek philosopher Socrates taught his fellow Greek citizens to be happy with less. In other words, enjoy that pair of jeans you love so much that you wear it all the time, instead of worrying about the latest fad designer jeans at the boutique that costs two weeks pay.

Simply put, gratitude changes your focus to what you have. Since, it doesn’t matter how much you have if you don’t appreciate it! Without gratitude, you’ll never feel successful, no matter how much you have and own. So regardless of your level of wealth and financial success, practicing gratitude is essential. You get more of what you focus on…what you focus on expands!

According to the Harvard Medical School, gratitude is: “a thankful appreciation for what an individual receives, whether tangible or intangible. With gratitude, people acknowledge the goodness in their lives … As a result, gratitude also helps people connect to something larger than themselves as individuals–whether to other people, nature, or a higher power” 

“The more man meditates upon good thoughts, the better will be his world and the world at large.” Confucius

Every day won’t be perfect, but focusing on what we are grateful for tends to wash away feelings of anger, sorrow and negativity. And there is added benefits to improving your mindset, attitude and outcome. Recent studies show that being grateful and expressing gratitude leads to better physical and emotional health.

“An attitude of gratitude means making it a habit to express thankfulness and appreciation in all parts of your life, on a regular basis, for both the big and small things alike,” according to Lewis Howe, author of the inspirational book, The School of Greatness. “If you concentrate on what you have, you’ll always have more. If you concentrate on what you don’t have, you’ll never have enough.”

Thus, you must look throughout your day for things and activities to be grateful for, and something to be grateful for will always show up. Just because gratitude is good doesn’t mean it’s always easy.

Do not lose sight of being grateful for simply having a challenge or mountain to climb (it beats the alternative). Only when you began feeling gratitude for the opportunity to serve, to learn and to grow will a shift in attitude and happiness happen.

You can view gratitude as an emotional muscle that will grow and strengthen with intentional use. Make gratitude a habit by starting a gratitude journal, incorporating gratitude into your morning routine practice, or perhaps by having a gratitude accountability partner whom you can email daily.

“Everything — peace of mind, happiness, getting the most out of what you have — springs off of the word ‘gratitude’…True gratitude is based on all things — success and failure. If I’m truly grateful, I’m going to maintain that regardless of the outcome. Otherwise, it’s not gratitude.” Cael Sanderson, Head Wrestling Coach, Pennsylvania State University

Gratitude can be made a habit that you can practice every morning. According to motivational speaker Tony Robbins, gratitude is a ritual that can be broken down into three, three-minute sections, which can provide structure for living a life of gratitude. The three sections are:

  • First three minutes, think of three things you’re grateful for. Tony suggests that one of these be very simple—like how beautiful the sunset was last night or the great night’s sleep you just got.
  • During the next three minutes, focus on creating gratitude by imagining an inner presence that can heal and solve any obstacles in your life.
  • For the last three minutes, identify three things you’re absolutely going to make happen for yourself—what he calls his “three to thrive.”

Imagine what it would feel like to complete these tasks, and “see it as though it’s already been done,” Robbins said.

Enjoying less and appreciating the things you own are not difficult. All it takes is a change of mindset and an attitude of gratitude. Since, gratitude makes dealing with the difficult things and experiences easier. So be grateful when things are challenging, when you don’t feel like it, or when you fall short of achieving your goal.

To become more grateful, there are several everyday tips for living a life of gratitude, according to Robert A. Emmons, Ph.D., a leading scientific expert on gratitude:

  • Keep a Gratitude Journal. Establish a daily practice in which you remind yourself of the gifts, grace, benefits, and good things you enjoy. Setting aside time on a daily basis to recall moments of gratitude associated with ordinary events, your personal attributes, or valued people in your life gives you the potential to interweave a sustainable life theme of gratefulness.
  • Remember the Bad. To be grateful in your current state, it is helpful to remember the hard times that you once experienced. When you remember how difficult life used to be and how far you have come, you set up an explicit contrast in your mind, and this contrast is fertile ground for gratefulness.
  • Ask Yourself Three Questions. Utilize the meditation technique known as Naikan, which involves reflecting on three questions: “What have I received from __?”, “What have I given to __?”, and “What troubles and difficulty have I caused?”
  • Learn Prayers of Gratitude. In many spiritual traditions, prayers of gratitude are considered to be the most powerful form of prayer, because through these prayers people recognize the ultimate source of all they are and all they will ever be.
  • Use Visual Reminders. Because the two primary obstacles to gratefulness are forgetfulness and a lack of mindful awareness, visual reminders can serve as cues to trigger thoughts of gratitude. Often times, the best visual reminders are other people.
  • Make a Vow to Practice Gratitude. Research shows that making an oath to perform a behavior increases the likelihood that the action will be executed. Therefore, write your own gratitude vow, which could be as simple as “I vow to count my blessings each day,” and post it somewhere where you will be reminded of it every day.
  • Watch your Language. Grateful people have a particular linguistic style that uses the language of gifts, givers, blessings, blessed, fortune, fortunate, and abundance. In gratitude, you should not focus on how inherently good you are, but rather on the inherently good things that others have done on your behalf.

It’s vitally essential to live your life and build your wealth based in gratitude. With gratitude comes the realization that we get more than we deserve and we’re content with what we have, received and accomplished.

“Cultivate the habit of being grateful for every good thing that comes to you, and to give thanks continuously. And because all things have contributed to your advancement, you should include all things in your gratitude.” Ralph Waldo Emerson

Research has shown that there is a strong link between happiness and gratitude. And there is a lot in your life to be grateful for! Do you want to be happy and wealthy? Stop waiting for happiness to knock on your door. Go out and make a friend or two. Stop thinking others have it better than you do.

Stop looking at what others have and start being grateful for what you have. You probably have a roof over your head and food in your stomach every day. The average world wide salary in 2012 was $18,000, adjusted for purchasing power. If you’re pulling in $19,000 you’re above average and, therefore, in terms of the entire world, rich. Celebrate your new found rich status, by inviting a couple of friends over. It will make you happier.

You must be grateful and love your life whether you’re winning or losing; whether you’re successful or unsuccessful; and whether you’ve built wealth or failed to build wealth. Just be grateful for the opportunity and your life. 

“Gratitude unlocks the fullness of life. It turns what we have into enough, and more. It turns denial into acceptance, chaos into order, confusion into clarity…It turns problems into gifts, failures into success, the unexpected into perfect timing, and mistakes into important events. Gratitude makes sense of our past, brings peace for today and creates a vision for tomorrow.” Melodie Beattie, Author of ‘Co-dependant No More’

References:

  1. https://positivepsychology.com/gratitude-appreciation/https://positivepsychology.com/gratitude-appreciation/
  2. https://celador.net/the-secret-of-happiness-e611f6471b8f
  3. https://www.huffpost.com/entry/how-to-have-an-attitude-of-gratitude_b_8644102
  4. https://partners4prosperity.com/thank-and-grow-rich-gratitude-and-wealth/
  5. https://greatergood.berkeley.edu/article/item/why_gratitude_is_good/
  6. https://greatergood.berkeley.edu/profile/robert_emmons
  7. https://onwardstate.com/2020/05/08/4-lessons-i-learned-from-cael-sanderson-after-covering-him-for-4-years/

Mindset and Paradigm

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“Change your habits, change your life.” Bob Proctor

The number one thing that will stop you from achieving your financial goals and life’s purpose is the way you think…your limiting beliefs and negative thoughts, explains self help guru Bob Proctor. If you want to change your results, you must first change yourself, specifically your paradigms.

Paradigms are nothing more than a group of habits that are programmed into the subconscious mind that control your behaviors which control your results, explains Bob Proctor. Thus, it’s essential to understand that your habits and behaviors control your results.

“We think we see the world as it is, when in fact we see the world as we are.” Stephen R. Covey

Paradigms affect the way we behave and the results we achieve in life, according to Stephen R. Covey. In explaining paradigm, Covey described an event when he “was on a subway in a very large metropolitan city. It was Sunday morning, quiet, sedate. When a bunch of young kids came running into the subway car and their father followed. He sat near me and the kids went crazy on that subway, running up and down, turning people’s papers aside, just raucous and rude. I’m sitting there thinking, ‘I can’t believe this, their father does nothing!’ I look at my attitude, attitude to try to control, but look what I could see.

After a few minutes, attitude went into behavior, ‘Sir, do you think you could control your children a little? They are very upsetting to people.’

‘Oh yeah.’ He lifted his head as if to come to an awareness of what was happening. ‘Yeah, I don’t know. I just guess I should. We just left the hospital. Their mother died just about an hour ago and I guess they don’t know how to take it and frankly I don’t either.’”

Imagine the paradigm shift that took place there. Imagine now what the attitude and the behavior would be based upon that paradigm.

The mind’s default, for most people, contains a plethora of negative thoughts and self-limiting beliefs. The mind tends to default to thinking that bad things will happen, that you’re not worthy, or that you’re not likable. ”

Until you change your paradigms regarding money or your financial mindset, money and wealth will not help you realize your dreams or achieve financial freedom.

“You must begin to understand that the present state of your bank account, your sales, your health, your social life, your position at work, etc., is nothing more than the physical manifestation of your previous thinking.”  Bob Proctor

References:

  1. https://www.lifehack.org/900263/reactive-vs-proactive
  2. https://resources.franklincovey.com/blog/paradigms

Mindset Matters

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“Mindset is everything because it touches, impacts, and influences quite literally every aspect of your life.”

Your mindset is the filter through which you see the world. It is comprised of your beliefs, attitudes, emotions, and perceptions that inform your thoughts, habits* and decisions. Mindset encompasses both your conscious and unconscious thoughts as well as how you view yourself. It, your mindset, determines how you spend your time, who you spend your time with, what decisions you make, and where you invest your resources (time, talent and treasure).

Your mindset is an important part of your toolkit for success. Like glasses, they can either obscure your path or bring clarity to the road ahead. Thus, taking an active approach to understanding and crafting a positive mindset is important. Most people don’t realize that they’ve been programming their mindset through their experiences and perceptions. If you constantly feed your mindset with negative perspectives, your outlook will be negative. Garbage in, is garbage out.

On the other hand, cultivating a healthy wealth mindset will help you stick to your financial goals and you find ways to increase your earning potential. And, there are two key inputs that shape your mindset: the environment (or people) you spend time with and the media (written and verbal) you consume daily.

There’s an old saying in financial circles that you’re the average of the five people you spend the most time with. If you want to be fit, hang out with friends who exercise. If you want to think big and aspire to build wealth and change the world, then you must consume inspiring positive media and hang out with people who have great purpose and big audacious goals.

Just as you are the average of the five people you spend the most time with, the same is true for your ideas and aspirations.

A wealth mindset is a set of beliefs, habits, and behaviors that separates the wealthy from the rest. A wealth mindset will guide you to make the most of the money you have. It is essential to effectively and successfully save for the future, invest for the long term, build wealth and achieve financial freedom. A wealth mindset means spending less than you earn, making wise investments in assets, and looking for ways to improve financial well-being with minimal risk.

A wealth mindset matter matters because 60 percent of Americans live paycheck to paycheck, according to Dave Ramsey. And as of 2018, 175 million Americans actively use credit cards. A majority of these credit card holders engage in impulsive spending behavior, wasting money they don’t have on items they don’t need.

“Wealth is a mindset!”, writes Shynna Key, author of “Wealth Is a Mindset”. She encourages you to “keeping it real” with your current financial position, identifying challenges, and taking responsibility for changing the way you view wealth. She opines that you must begin by examining “…what we have been taught as it relates to money and wealth. Though finances are a very private area for most to discuss, it is a crucial topic that will help us to understand the root of our financial ‘woes’ as well as the fruit of our financial ‘favor’; which is essential to our overall growth of wealth.”

“If you correct your mind, the rest of your life will fall into place.” – Lao Tzu

To accumulate wealth and achieve financial freedom, you must first be and think like the wealthy. By doing so, you will develop the habits and take the necessary actions to attract the resources to you. You must be someone first; someone who has what he or she needs in order to take the inspired action. To become a wealthy, you must be an individual who thinks and manages money like the wealthy. For example, “the average wealthy person spends 10 times more time planning their finances than the average middle-class individual”, explains Thomas J. Stanley, author of “The Millionaire Next Door”.

Money and wealth can buy freedom…financial freedom. Very few wealthy people became wealthy overnight. Building wealth is a deliberate process that requires patience and planning.

If you want to be wealthy, you’ll need to develop a wealth mindset. Start by defining your financial goals: how much money do you want to have in a year’s time? Five year’s time?

To realize your financial goals, you’ll need to develop a wealth mindset, create and follow a plan, and continue to learn and grow. And remember, the road to wealth is bumpy and filled with detours and misconceptions.

In many ways, the health of your finances, as well as your physical health, depends on your mindset and emotional well-being. Thus, it’s important to make it a priority and to take time for you. When you focus on purpose, potential, curiosity and collaboration, you will experience increased energy and well-being. Because, what you focus on…expands!

“We are what we think. All that we are arises with our thoughts. With our thoughts, we make the world.” – Unknown

References:

  1. https://wealthfit.com/articles/wealth-mindset/
  2. https://wealthconnecters.com/wealth-mindset
  3. https://www.audible.com/pd/Wealth-Is-a-Mindset-Audiobook/B07MWHKS46
  4. Draper, Taylor, “Mind Matters”, Costco Connection, May 2021, pg. 17.
  5. https://bydeze.com/why-mindset-is-everything/
  6. https://nevadapartners.org/2021/05/21/12-real-differences-between-a-wealthy-mindset-vs-a-poor-mindset/

“Be kind, for everyone you meet is fighting a hard battle.” – Socrates

* Habits are consistent, unconscious patterns. They constantly express our character and result in our effectiveness or ineffectiveness. Habits are deeply ingrained and we are constantly pulled in their direction.

Building Resilience

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“God, grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.” Reinhold Niebuhr

The author of “Healthy Brain, Happy Life” and “Good Anxiety” explains how to harness the power of anxiety into unexpected gifts.

We are living in the age of anxiety. There are about 40 million Americans— or 18% of the population—suffering from clinical anxiety disorders today.

Anxiety is a situation that often makes you feel as if you are locked into an endless cycle of stress, uncertainty, and worry. But, there are ways to leverage your anxiety to help you solve problems and fortify your wellbeing, explains Dr. Wendy Suzuki, PhD, a neuroscientist and professor of Neural Science and Psychology in the Center for Neural Science at New York University. Thus, instead of seeing anxiety strictly as a problem or curse to dread, you recognize it as the unique gift that it is.

Dr. Suzuki has discovered a paradigm-shifting truth about anxiety: yes, it is uncomfortable, but it is also essential for your survival. In fact, anxiety is a key component of your ability to live optimally. Every emotion you experience has an evolutionary purpose, and anxiety is designed to draw your attention to vulnerability. If you simply approach it as something to avoid, get rid of, or dampen, you actually miss an opportunity to improve your life. Listening to your anxieties from a place of curiosity, and without fear or worry, can actually guide you onto a path that leads to inner peace and joy.

Drawing on her own struggles and based on cutting-edge research, Dr. Suzuki has developed strategies for managing unwarranted anxiety and exercises you can do to build your resiliency and mental strength. The exercises include:

Visualize positive outcomes

At the beginning or at the end of each day, think through all those uncertain situations currently in your life — both big and small. Now take each of those and visualize the most optimistic and amazing outcome to the situation. Not just the “okay” outcome, but the best possible one you could imagine.

This process of visualizing “the most optimistic and amazing outcome” should build the muscle of expecting the positive outcome and might even open up ideas for what more you might do to create that outcome of your dreams.

Turn anxiety into progress

Our brain’s plasticity is what enables us to be resilient during challenging times — to learn how to calm down, reassess situations, reframe our thoughts and make smarter decisions.

Reach out

Asking for help, staying connected to friends and family, and actively nurturing supportive, encouraging relationships not only enables you to keep anxiety at bay, but also shores up the sense that you’re not alone.

The belief and feeling that you are surrounded by people who care about you is crucial during times of enormous stress — when you need to fall back on your own resilience in order to persevere and maintain your well-being.

When we are suffering from loss or other forms of distress, it’s natural to withdraw. Yet you also have the power to push yourself into the loving embrace of those who can help take care of you.

Practice positive self-tweeting

Lin-Manual Miranda sends out tweets at the beginning and end of each day. The tweets are essentially upbeat little messages that are funny, singsongy and generally delightful.

If you watch him, you’ll see an inherently resilient, mentally strong and optimistic person.

For you to be that resilient, productive and creative, it’s essential to come up with positive reminders. You don’t necessarily need to share them. The idea is to boost yourself up at the beginning and at the end of the day.

This can be difficult for those who automatically beat themselves up. Instead, think about what your biggest supporter in life — a spouse, partner, sibling, friend, mentor or parent — would tell you, and then tweet, remind or say it to yourself.

Although popular science continues to suggests that persistent, low-level anxiety is detrimental to your health, performance, and wellbeing, but if you could learn how to harness the brain activation underlying your anxiety and make it work for you, you could turn anxiety into superpower, says Dr. Suzuki.

Her research and her own experience demonstrate that this paradigm shift from bad to good anxiety can accelerate focus and productivity, boosts performance, lead to happiness, create compassion, and foster more creativity.

Twenty-five positive quotes and reminders to build resilience:

  1. You’re awesome, Bro.
  2. You can do all things through Christ which strengthens you!
  3. Believe in yourself; have faith in your abilities!
  4. Everyday, in every way, you’re getting better and better, dude!
  5. “Great minds discuss ideas.” Eleanor Roosevelt
  6. “Success is the sum of small efforts, repeated day in and day out.” Robert Collier
  7. “Be patient with yourself.” Stephen Covey
  8. “People will never forget how you made them feel.” Maya Angelou
  9. “Be content with what you have; rejoice in the way things are. When you realize there is nothing lacking, the world belongs to you.” Lao Tzu
  10. “If you want to be happy, set a goal that commands your thoughts, liberates your energy, and inspires your hopes.” Andrew Carnegie
  11. “Happiness is the spiritual experience of living every minute with love, grace, and gratitude.” Denis Waitley
  12. “Happiness never decreases by being shared.” Buddha
  13. “The secret of health for both mind and body…is to live in the present moment wisely and earnestly.” Buddha
  14. “Happiness…is appreciating what you have.”
  15. “We make a life by what we give.” Winston Churchill
  16. “Reflect upon your present blessings, of which every man has plenty.” Charles Dickens
  17. “He is a wise man who rejoices for the things which he has.” Epictetus
  18. “Be thankful for what you have; you’ll end up having more.” Oprah Winfrey
  19. “Open your eyes and your heart to a truly precious gift–today.” Steve Maraboli
  20. “This is the day the Lord has made, rejoice and be glad in it.”
  21. “Talk to yourself like you would to someone you love.” Brené Brown
  22. “Do not overestimate the competition and underestimate yourself. You are better than you think.” T. Harv Eker
  23. “Always remember you are braver than you believe, stronger than you seem, and smarter than you think.” Christopher Robin
  24. “Nothing can stop the man with the right mental attitude from achieving his goal.” Thomas Jefferson
  25. “Do what you can, where you are, with what you have.” Theodore Roosevelt

“Far better is it to dare mighty things, to win glorious triumphs–even though checkered by failure–than to rank with those poor spirits who neither enjoy much nor suffer much, because they live in a gray twilight that knows not victory nor defeat.” Theodore Roosevelt

References:

  1. https://www.cnbc.com/2021/08/31/do-these-exercises-every-day-to-build-resilience-and-mental-strength-says-neuroscientist.html
  2. https://www.wendysuzuki.com
  3. https://www.inc.com/jeff-haden/top-350-inspiring-motivational-quotes-to-tweet-and-share.html

Persistence and Perseverance

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“Nothing in the world can take the place of persistence.

Talent will not; nothing is more common than unsuccessful men with talent.

Genius will not; unrewarded genius is almost a proverb.

Education will not; the world is full of educated derelicts.

Persistence and determination alone are omnipotent.

The slogan “press on” has solved and always will solve the problems of the human race.”

Calvin Coolidge

“Three simple rules in life and habits…Go, Ask, and Do:

  1. If you do not go after what you want, you’ll never have it.

  2. If you do not ask, the answer will always be no.

  3. If you do not step forward, you will always be in the same place.”

Austin Miller, VP of Talent Management at Sorenson Capital Partners

Wealth Blueprint

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If building wealth and financial freedom are your destination, the journey always starts with your financial mindset, attitude and habits. Jeff Hayden

T. Harv Eker, author of “Secrets of the Millionaire Mind”, is convinced that anyone can be build wealth and become financially free. But, he opines that what holds most people back from accumulating wealth is an internal mental script or “money blueprint” that tells them that they can’t or shouldn’t.

In his bestselling book, Eker teaches people to identify their internal money blueprint and revise them. However, many critics rightfully argue that his focus on personal psychology as the sole driver of success ignores very real economic and systemic factors such as inequality, sexism and racism which can be possible determinants of one’s income bracket and net worth.

“If your subconscious “financial blueprint” is not set for success, nothing you learn, nothing you know and nothing you do will make much of a difference.” T Harv Eker

Yet, Eker argues that you have a personal wealth blueprint already ingrained in your subconscious mind that will determine your financial life and overall success. What he means is that you can know everything about saving for the future, investing to grow your money, and accumulating wealth, but if your subconscious wealth blueprint isn’t preset to a high level of life and financial success, you will never amass a large amount of wealth or achieve financial freedom.

What people have to realize is that we are all subconsciously taught and conditioned in how to deal with money and wealth, according to Eker. Unfortunately, many of us were taught by family members and acquaintances who didn’t own a lot of assets and did not have a lot of money, so their way of thinking about wealth became your natural and automatic way to think. And since you are a creature of habit, your internal thoughts and beliefs about wealth and money will determine your external results of net worth and cash flow.

“If you want to change your results, you have to start by changing your thoughts.” T. Harv Eker

Your wealth blueprint single-handedly, according to Eker, determines your financial life, because your thoughts lead to feelings, which lead to actions, which lead to your results. Thought is the ‘Mother of all Results’. It’s about a process of manifestation, that your thoughts lead to your feelings, which lead to your actions, which lead to your results.

Thoughts → Feelings → Actions → Results

The reason you think the way you do about money is conditioning. You were taught how to think about money. You weren’t born with money thoughts and beliefs. You learned them. You were conditioned around money, success, and wealth by:

  • Verbal programming – what you’ve heard,
  • Modeling – what you’ve seen,
  • And specific incidences and experiences you’ve had.

No personal wealth mental blueprint is true or false or right or wrong, says Eker. It’s just how you’ve been programmed. Some people are savers. Others are spenders.

There are several important question to ask yourself: What is your current wealth and success blueprint, and what results is it subconsciously moving you toward? Are you set for working hard for your money or are you set to have your money work hard for you? Are you programmed for saving money or for spending money? Are you programmed for managing your money well or mismanaging it?

Bottomline, your wealth blueprint, meaning your thoughts and beliefs, will determine ultimately your financial life and net worth – and can even determine your personal life, according to Eker.

“The vast majority of people simply do not have the internal capacity to create and hold on to large amounts of money and the increased challenges that go with more money and success. That, my friends, is the primary reason they don’t have much money.” T. Harv Eker

References:

  1. https://www.selfgrowth.com/articles/what_is_your_money_blueprint.html
  2. https://www.knowledgeformen.com/podcast-t-harv-eker/
  3. https://www.tonyrobbins.com/mind-meaning/a-new-blueprint-for-happiness
  4. https://www.businesstimes.com.sg/lifestyle/weekend-interview/t-harv-eker

Most Valuable Retirement Assets

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“Retirement is like an iceberg, where 90% of what’s really taking place lies below the surface, absent from traditional financial plans and conversations” Robert Laura

For a long and fulfilling life in retirement, you need much more than financial resources and financial security. Consequently, there are more valuable retirement assets than financial.

Retirement planning is typically related solely to financial planning, all about numbers. It centers around one question: Do your financial assets — pension, 401(k)s/IRAs, Social Security, property, sale of a business, etc. — provide enough income to fund your desired retirement lifestyle?

5 Tips to Help You Stay Motivated to Exercise poster

You’ll need enough money to get by, of course, but you don’t have to be super wealthy to be happy. In fact, life satisfaction tops out at an annual salary of $95,000, on average, according to a study by psychologists from Purdue University. Enough money to never have to worry about going broke or paying for medical care is important. But financial freedom is not the only or even the most important piece of a fulfilling retirement.

Once you have a retirement plan in place, it is essential to focus on all those things money cannot buy. There are non-financial assets that studies show can improve life satisfaction in retirement. According to Kiplinger Magazine, they include:

  1. Good Health (Health is Wealth) – Good health is the most important ingredient for a happy retirement, according to a Merrill Lynch/Age Wave report. Studies show that exercise and a healthy diet can reduce the risk of developing certain health conditions, increase energy levels, boost your immune system, and improve your mood.
  2. Strong Social Connections (Emotional Well-Being) – Happier retirees were found to be those with more social interactions with friends and family, according to one Gallup poll. Further, social isolation has been linked to higher rates of heart disease and stroke, increased risk of dementia, and greater incidence of depression and anxiety. A low level of social interaction is just as unhealthy as smoking, obesity, alcohol abuse and physical inactivity.
  3. Purpose – Retirees with a sense of purpose or meaning were three times more likely to say “helping people in need” brings them happiness in retirement than “spending money on themselves.” Purpose can fall into three buckets, which means getting involved with your place of worship or spiritual pursuits, using your talents in service to others, and doing what you’ve always wanted to do.
  4. Learning and Growing – Experts believe that ongoing education and learning new things may help keep you mentally sharp simply by getting you in the habit of staying mentally active. Exercising your brain may help prevent cognitive decline and reduce the risk of dementia.
  5. Optimistic Outlook – Optimistic people tend to expect that good things will happen in the future. A fair amount of scientific evidence suggests that being optimistic contributes to good health, both mental and physical and may lower risk of developing cardiovascular disease and other chronic ailments and a longer life, and people with higher levels of optimism lived longer. Optimism is a trait that anyone can develop. Studies have shown people are able to adopt a more optimistic mindset with very simple, low-cost exercises, starting with consciously reframing every situation in a positive light. Over time, your brain is essentially rewired to think positively.
  6. Gratitude – People who counted their blessings had a more positive outlook on life, exercised more, reported fewer symptoms of illness and were more likely to help others. Gratitude enhances people’s satisfaction with life while reducing their desire to buy stuff.
  7. Dog Ownership – Older dog owners who walked their dogs at least once a day got 20% more physical activity than people without dogs and spent 30 fewer minutes a day being sedentary, on average, according to a study published in The Journal of Epidemiology and Community Health. Research has also indicated that dogs help soothe those suffering from cognitive decline, and the physical and mental health benefits of owning a dog can boost the longevity of the owner.

Retirement is major transition made up of many financial as well as life decisions. This is why it is important to create and to adhere a retirement plan as early as possible. That way you can spend more time focusing on everything else that equally matters.

References:

  1. https://www.kiplinger.com/retirement/happy-retirement/601160/7-surprisingly-valuable-assets-for-a-happy-retirement

Wealthy Mindset

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“Training and managing your own mind is the most important skill you could ever own, in terms of both happiness and success.” – T. Harv Eker

The right mindset can help you on the road to wealth. And, your mind–which refers to your subconscious thoughts and beliefs–represents the biggest obstacle to your financial success and freedom.

The human mind has evolved over the centuries as a self-survival mechanism. It’s not designed to make you happy, or to help you build wealth and achieve financial freedom, it’s designed to protect you and look for and respond to things that are perceived to be wrong or life threatening.

Develop a wealthy mindset

If you want to be wealthy and achieve financial freedom, you have to stop thinking (and acting) like a broke person! It’s that simple.

A starting point in this process is to observe each thought as it comes into your mind and determine if it is supportive or non-supportive thought.

When you change the way you think about money, success, wealth, and financial freedom, you can create the life you’ve always wanted.

“Understanding your past attitudes towards money and changing them if need be”, according to T. Harv Eker. “The only way to permanently change the temperature in the room is to reset the thermostat. In the same way, the only way to change your level of financial success “permanently” is to reset your financial thermostat. But it is your choice whether you choose to change.”

At the end of the day, becoming successful in business is more about your mindset, passion, and determination than it is about your product or service. Mindset is what separates those who are truly successful from the people who are struggling to get by.

It is important that you discover what you’ve been conditioned or taught to believe about money that keeps you from having more of it, according to T. Harv Eker. By assessing your subconscious beliefs about money, you can finally break through the barriers to your financial success and freedom.

Anyone can create financial freedom if they have the right money mindset.

A true measure of your wealth is not your income, but your net worth. Your net worth grows with your selfworth. There is no time better than now to open yourself to receive massive amounts of financial success in your life.

It’s no secret that the wealthy tend to be frugal with their money. While they excel at saving and spending wisely, they also know that one of the best ways to grow their money and accumulate wealth is to invest some of what they earn in buying assets. 

If you aren’t doing what you want to do and you’re not where you want to be, there’s something you don’t know.

Three things involved to create wealth:

  • The right vehicle
  • The right knowledge (generalized knowledge, specific knowledge)
  • The right you (mindset, attitude, belief, habits & character)

Determine how good you are at what you do and get paid for the results your produce instead of your time.

Financial freedom

“It’s been proven time and time again that long-term investing can produce significantly more wealth than short term trading, yet many Americans fail to make the most of their best long-term investment vehicle: their workplace retirement plan,” writes Todd Campbell, author of Your Guide to Better Stock Picks, in a piece for The Motley Fool.

Top advice for developing a wealthy mindset, explains T. Harv Eker:

  • Do not to listen to the negatives in your life and believe in your own convictions.
  • Training and managing your own mind is the most important skill you could ever own, in terms of happiness and financial success.
  • If you aren’t doing what you want to do and you’re not where you want to be, there’s something you don’t know.
  • Enjoy every aspect of what you do: how you do anything is how you do everything in life.

References:

  1. https://www.harveker.com/blog/6-steps-for-wealth-in-business/
  2. https://www.forbes.com/sites/danschawbel/2012/02/06/how-to-master-the-inner-game-of-wealth/
  3. https://www.shortform.com/pdf/secrets-of-the-millionaire-mind-pdf-t-harv-eker
  4. https://www.millionairemindworld.com

Quote: Freedom Involves Risk

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“To laugh is to risk appearing the fool,

To weep is to risk appearing sentimental,

To reach out for another is to risk involvement,

To expose feelings is to risk exposing your true self,

To place ideas and dreams before the crowd is to risk their loss,

To love is to risk not being loved in return,

To live is to risk dying,

To hope is to risk despair,

To try is to risk failure,

But risk must be taken because the greatest hazard in life is to risk nothing. The person who risks nothing, does nothing, has nothing, and is nothing. He may avoid suffering and sorrow, but he simply cannot learn, feel, change, grow, love and live. Chained by certitudes, he is a slave, he has forfeited freedom.

Only a person who risks is free.”

Author Unknown

“Freedom is never free. It requires risk taking.” Nassim Nicholas Taleb.

Things to Consider When Saving, Investing and Building Wealth

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Saving for the future, investing to grow your money and building wealth has little to do with the economic cycle, the stock market valuation or even how much money you earn.

It’s your mindset that can hinder your financial outcome and keep you trapped at an unsatisfying level of financial success. And, unless you can embrace a positive financial mindset, your ability to save, invest and build wealth will be hindered for the rest of your financial life.

The process of investing and wealth-building can be improved by a adhering to the following tips to set yourself up for potential financial success and freedom:

1. Start Early

It’s important to invest a percentage of your salary each month. And, starting early could be a way to dramatically increase your savings over time. The good thing about starting early is you can get the benefits of compound interest!

2. Set Investment Goals

Are you saving up to buy a house? Or putting money away for retirement? Investing with a purpose will help you determine the right strategy and keep you on track to pursue your financial goals. Determine your financial freedom number.

3. Know Your Time Horizon

If you think you’ll need the money within the next five years, you might consider less volatile investments, like fixed income securities. Investing for the long-term (think: 15 or more years)?  You might think about adopting a less conservative strategy.

4. Assess Your Risk Level

Knowing how much risk you’re willing to take on will help you narrow down your investment choices and keep you from letting your emotions guide your investing during periods of high market volatility.

5. Analyze Your Budget

Take your monthly income and take a list of your monthly expenses and create a budget (for instance, the popular 50/30/20 budget). By looking at your spending, you may discover extra money to invest each month.

6. Know Your Investment Choices

Familiarize yourself with different investment types to see what makes sense for you. Are you interested in international stocks and ETFs (exchange-traded funds)? Maybe bonds and mutual funds?

7. Go It Alone or Use an Advisor

If you’re the independent type, you may be drawn to Self-Directed Trading. Or if you prefer an advisor or to automate your investments with a Robo Portfolio.

8. Consider Avoiding Individual Stocks and Bonds; Invest in Market Index Funds

If you’re still learning the ropes, you might be more comfortable sticking to broader based investments like index funds and ETFs. These types of investments require less of your time and are less risky since they invest in numerous companies. As an alternative, an market index fund is an investment that tracks a market index, typically made up of stocks, like the S&P 500, or bonds. Index funds typically invest in all the components that are included in the index they track,

9. Diversify Your Portfolio

If all your investments are your company’s stock, and they go out of business, you’ll wish you had a diversified portfolio. You may reduce your risk by holding a variety of securities that react differently to market changes.

10. Think Long-term

History shows whenever the market takes a dip due to volatility, it eventually bounces back. Be patient and disciplined: Give your money time, make consistent contributions and wait out inevitable market downturns.

11. Don’t Forget High Interest Debt

School loans or credit card debt can make allocating money to investments a tough choice. It’s possible to reduce your debt and invest, and we can help you accomplish both.

12. Get Your Match

Many employers offer a 401(k) match, which can be a great incentive to invest for retirement, helping you to potentially build tax deferred savings.

13. Save and Invest for Retirement

When you’re young, retirement seems like eons away — but for many, regardless of age, now is the best time to start saving for your golden years. You may consider looking into Traditional and Roth IRAs to get started. The typical retirement strategy is built on the pillars of your pension, 401(k) plan, your Traditional IRA, and taxable savings.

14. Automate Your Contributions and Pay Yourself First

Pay yourself first instead of saving what remains after monthly expenses. Set up recurring investments to take advantage of dollar cost averaging. With this strategy, instead of trying to time the market, you invest the same amount each month — sometimes you might buy high, but other times, you’ll purchase low.

15. Beware of Fads

Just because everyone is jumping on the latest meme stock or investing app doesn’t mean you should. Fad stocks are often unpredictable, so if this doesn’t align with your investment strategy, feel confident to sit them out.

16. Be Informed

A prospectus sheet details the performance of a company to help you understand its stock performance. And digital tools can help you track your investments, too. If you cannot dedicate time to read and research, invest in a market index fund which is one of the easiest and most effective ways for investors to build wealth.

17. Don’t Neglect Your Emergency (or Peace of Mind) Fund

Investing grows your money and helps build long-term financial freedom, but you need to be prepared for short-term unexpected expenses. So when setting out on your own, don’t forget to start setting aside funds in an emergency (or peace of mind) fund. This money should be liquid (not invested in securities), so you can access it for unexpected expenses.

18. Watch Out for Fees

Some brokers will charge a commission fee whenever you buy or sell stocks, which add up and make a dent in your overall returns. Trade U.S. stocks and ETFs commission-free with our Self-Directed Trading.

19. Ask for Help

Investing can get complicated. Don’t be afraid to reach out to a financial advisor for advice and support.

20. Adjust as You Go

As life circumstances change, it might make sense to move your money into different types of investment accounts or change up how much you contribute. Any time your financial circumstances change, remember to reassess your financial goals, plan and investments.

21. Create and Follow a Financial Plan

Every living adult needs to financially plan. A financial plan is a comprehensive overview of your financial goals, net worth, cash flow, debt, taxes, risk tolerance, time horizon and it provides the steps you need to take to achieve and manage them.

22. Investing has risks.

No one knows exactly what will happen in the future and investments could lose money, so be aware of how much you are able to invest and be comfortable leaving it there for a period of time since it may have ups and downs.

23. A Wealthy (or Positive Financial) Mindset

It’s imperative that you refocus your mindset and change how you think about yourself, your finances, and the world around you. If you keep thinking about things the same way, you’re going to get the same results. Change in the world around you doesn’t happen until you change yourself. Embrace and grow your positive financial mindset about money, wealth and financial freedom.

Getting Started

Getting started is often the hardest step for most new investor to take, but starting to invest today is advice worth implementing! “The best time to plant a tree is twenty years ago; the second best time is today.” And, what’s true for a tree is also true for growing your money.

References:

  1. https://www.ally.com/do-it-right/investing/things-to-know-when-investing-in-your-20s/
  2. https://www.harveker.com/blog/11-principles-infographic-financial-freedom/