Tag Archives: Good Life

Thoughts of the Day

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Gratitude is a Super Power!

Gratitude is a choice, not just a feeling. You must choose to live a life in gratitude and therefore gratitude is an attitude and virtue. Gratitude is a virtue you choose to live your life by.

“Gratitude is not only the greatest of all virtues but the parent of all the others.” Cicero (106-43bc), Roman Philosopher

Angeles Arrien wrote: “The practice of offering gratitude bestows many benefits. Anger, arrogance, and jealousy melt in its embrace. Fear and defensiveness dissolve. Gratitude diminishes barriers to love and evokes happiness, keeping alive what has meaning for us.”

Gratitude is recognizing the fact that everything good that happens in your life is a gift. Not something we’re entitled to, or should expect, but actually a very sweet gift.

“The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey

“Acknowledging the good that you already have in your life is the foundation for all abundance.” ~Eckart Toll

“Success is the sum of small efforts repeated day in and day out.”– Robert Collier

“Destiny is not a matter of chance, it is a matter of choice. It is not a thing to be waited for, it is a thing to be achieved.” -William Jennings Bryan

“Minimalism isn’t about removing the things you love. It’s about removing the things that distract you from the things you love.” ~Joshua Becker Over

“In every season of our life, we’re tempted to focus on our present burdens and miss the opportunities and blessings.

We love it when we receive the blessing, the promotion, the new house, the baby, but with the blessing comes new burdens, responsibilities, payments, cares.

Rather than enjoy where we are on the way to where we’re going, we get so caught up in the challenges that we miss the beauty of this moment.

You could be in one of the best seasons of your life, but you don’t realize it because you’re focused on the struggles, on what you don’t like, on what’s taking so long.

At some point you have to put your foot down and say, “This is the day the Lord has made”, and I will not allow my burdens to steal my joy, my peace and my enjoyment of my blessings.

Change your perspective and attitude. Shift your focus from life’s burdens to the blessings and opportunities, from what’s wrong to what’s right, from what you don’t have to what you have.

Make the most of abundant joy and peace every day.

“Being grateful all the time isn’t easy. But it’s when you least feel thankful that you are most in need of what gratitude can give you: perspective. Gratitude can transform any situation. It alters your vibration, moving you from negative energy to positive. It’s the quickest, easiest most powerful way to effect change in your life — this I know for sure.” ~ Oprah Winfrey

References:

  1. https://www.joelosteen.com/en-US/inspiration/todays-word/2021/03/21/20/06/Todays%20Blessings

Planning and Achieving Financial Freedom

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Financial freedom can be an elusive—and hard-to-define—goal.

Financial freedom is often said to be in the eye of the beholder. To some it may mean freedom of debt and being able to fund your lifestyle with your cash flow; to others it may mean early retirement on a Caribbean island. Whatever your financial goals or definition of financial freedom, there are ways and things you can learn to help you get your financial house in order.

Once you’ve decided that financial freedom is one of your top goals, you can start taking steps to achieve it. Thus, the first step toward achieving financial freedom is to define exactly what it means for you. You can’t generally achieve something that you haven’t defined. So, once you’ve defined what financial freedom means to you, you can start taking steps toward your goals.

“What then is freedom? The power to live as one wishes.” Marcus Tullius Cicero

Just because you have money does not mean you have financial freedom. There have been numerous people, especially professional athletes and entertainers, who have earned millions of dollars and subsequently lost it all through reckless spending and debilitating debt. Thus, even if you have a lot of money, if you don’t know how to manage and make your money work for you, it will more than likely disappear.

Financial freedom typically means having enough savings, financial assets, and cash on hand to afford the kind of life you desire for yourself and your families. It means growing savings and investments to a level that enables you to retire or pursue the career you want without being driven to earn a wage or salary each year. Financial freedom means your money and assets are working hard for you rather than the other way around…you’re working hard for your money.

In other words, financial freedom is about much more than just having money. It’s the freedom to be who you really are and do what you really want in life. It’s about following your passion, making choices that aren’t influenced by your bank account, net worth or cash flow, and living life on your terms.

Track your expenses

It’s difficult to know how to save money if you don’t have a good idea of where your money is going. Carefully track your spending habits for a typical month. Doing this will help you to become more conscious of your discretionary expenditures. It will also reinforce what expenses are essential and remind you to plan for unexpected expenditures, like medical emergencies and car repairs. Therefore, it is vital to understand and to know where your money is going.

Make a budget

Once you’ve taken inventory of your expenses, next step is to create a budget. While budgeting can sound like a cumbersome task, you may want to start by using a budgeting calculator to get a feel for how you are currently spending your money and how you’d like to change your spending.

One popular budgeting method is the 50/30/20 rule. The 50/30/20 rule is a way to divide your post-tax income based on your needs, wants and savings. The rule states that people should spend 50% of their income on their needs. This includes health insurance, housing, transportation, and groceries. Then, the guideline states that people should spend 30% of their income on wants or non-necessities such as entertainment, travel, and more. Finally, the last 20% of a person’s income should be saved or invested. This might include retirement savings and building a stock portfolio.

Once you have created a budget, don’t put it in a drawer and forget about it. Instead, make it a working and living document that you check and refer to often. Spend a half-hour per month reviewing how your actual expenses match your budget and make adjustments as necessary.

Automate your savings

Automating your savings and investing is one of the easiest steps you can take to ensure that you are on the path to financial freedom. You can set automated contributions to your employer-sponsored investments, including your 401(k) contributions and employee stock options.

When your savings and investing are automated, your money will continue to grow without you having to think about it. This will help you to reach your financial goals easily and quickly.

Have some percentage (10% to 20%) of your paycheck automatically deposited into a separate account—whether it’s a savings account, a 401(k) or an IRA. Money that isn’t easily accessible is not easily spent.

Unfortunately, many Americans are not saving enough to maintain their current standard of living during their retirement years. It was found that about 21% of Americans have nothing saved for retirement, according to the Northwestern Mutual’s 2018 Planning & Progress Study.

Start investing early

Follow the adage, the best time to start investing was twenty years ago; the second best time is today. You should start investing in a tax deferred account, preferably with your employer matching a portion or all of your contribution.

Planning for retirement is a marathon and not a sprint. Even if you are starting small, the most important thing is to get started. Therefore, it will likely take decades to reach your goal. Therefore, it is important to remember why you want to achieve financial freedom. Keeping your purpose, goals and the bigger picture in mind will help you navigate the day-to-day financial decisions.

Once you become financially free, you have more choices of how to live your life and spend your days.

When you decide that you want to start working toward financial freedom, it is important to remember that you will not become financially free overnight. However, according to certified financial planner David Rae, in a 2018 article in Forbes magazine, there are eight hierarchies of financial freedom that you can work towards:

  1. Level 1: Not Living Paycheck to Paycheck – The first level of financial freedom is building up an emergency fund and paying off any credit card debt. Unfortunately, living paycheck to paycheck is the reality of millions of Americans. According to the Federal Reserve’s Report on the Economic Well-Being of U.S. Households in 2017, some 40% of households could not cover a $400 unexpected expense.
  2. Level 2: Enough Money to take a sabbatical from your work – Accumulating enough money to be able to take a break away from work can be rewarding. This does not mean you have to quit your job, but it sure is a good feeling to know you can.
  3. Level 3: Enough to be Financially Happy and still Save – it’s about enjoying your life and having the money to do it. There can be peace when you are earning enough to save, doing the things you enjoy and still having extra at the end of the month.
  4. Level 4: Freedom of Time – Many people desire more flexibility with their schedules. Freedom of time and financial independence go hand in hand. Together, they are about following your passion, or spending more time with family, and not going completely broke doing it.
  5. Level 5: Enough for a Basic Retirement – Think about what your bare minimum retirement would look like. By knowing your bare minimum retirement, and knowing that you have enough money saved to at least cover some standard of living in your retirement, will also influence other life choices you may make along the way.
  6. Level 6: Enough to Actually Retire Well – Knowing you are on track to accumulate a nest egg to support that lifestyle is a big win. Well done to those who have accumulated enough assets, or passive income streams, to be in a position to retire well.
  7. Level 7: Enough for Dream Retirement – It would feel great knowing that you are on track to have enough money to retire and be able to live your dream life. What is stopping you from getting there.
  8. Level 8: More Money Than You Could Ever Spend – Having more money than you expected to spend is great. Building enough wealth so that you could not possibly spend all of it is another.

Bottomline is that if you want to be financially free, if you want to be able to live the lifestyle of your choosing while responsibly managing your finances, you need to become a different person than you are today and let go of the financial mindset that has created your current financial predicament and has held you back in the past.

Attaining financial freedom, which means having enough savings, investments and cash flow to live as you desire, both now and in your later years, requires a continuous process of growth, learning and emotional strength. In other words, whatever has held you back and provided you comfort in the past or kept you less than who you really are will have to be replaced. You will have to become comfortable for awhile being uncomfortable. And in return, the financially empowered, purposeful, and successful you will emerge — like a butterfly shedding its cocoon.

References:

  1. https://www.richdad.com/what-is-financial-freedom
  2. https://smartasset.com/financial-advisor/financial-freedom
  3. https://www.forbes.com/sites/davidrae/2019/04/09/levels-of-financial-freedom

Money and Happiness

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“The great Western disease is, ‘I’ll be happy when… When I get the money. When I get a BMW. When I get this job. When I get the relationship,’ Well, the reality is, you never get to when. The only way to find happiness is to understand that happiness is not out there. It’s in here. And happiness is not next week. It’s now.” Marshall Goldsmith

Research shows that after you make enough money to pay your essential expenses and save for the future, making more does little for your happiness. A 2010 study by economist and psychologist Daniel Kahneman found that, where wealth is concerned, a person’s satisfaction with their life no longer increases after about $75,000 ($90,000 in today’s dollars) a year.

If anything, once people start making a lot of money, they begin to think they’re doing worse in life, because they become obsessed with comparing themselves to those who appear richer and appear to be living a relatively larger and more luxurious social media embellished lifestyle. But, it important to remember that, “Money has never made man happy, nor will it, there is nothing in its nature to produce happiness”, Benjamin Franklin quipped. “The more of it one has the more one wants.

Instead, research suggests that spending money on experiences rather than tangible goods, giving to others with no thought of reward, and expressing gratitude for what you have, results in the greatest feelings of happiness.

Pitfalls of chasing money

Focusing on chasing the accoutrements of wealth is a trap, because it leads only to an increased focus on chasing wealth. Even multimillionaires make the mistake of believing that money, and not time, experiences and gratitude, will enrich their lives.

“These days, in our materialistic culture, many people are led to believe that money is the ultimate source of happiness. Consequently, when they don’t have enough of it they feel let down. Therefore, it is important to let people know that they have the source of contentment and happiness within themselves, and that it is related to nurturing our natural inner values.” Dalai Lama

A few thousand of the world’s wealthiest people were surveyed and asked how much money they’d needed to be “perfectly happy”, according to Harvard Business Review. Seventy-five percent (many of whom had a net worth of $10 million or more) said they’d needed “a lot more” ($5 million to $10 million, “at the very least”) to be happy.

It doesn’t take a PhD in psychology to see how misguided the mindset of “needing a lot more money” is not related to achieving happiness.

Money may not buy happiness, but there are some things you can do to try to increase happiness such as writing down what you’re grateful for. Literally “counting your blessings” can help you feel more positive. Instead of thinking about what you don’t have, think about the things you do have.

Nothing less than your health and happiness depends on reversing the innate notion that money alone leads to happiness. It’s important to start seeing time, daily habits, being grateful, and lifestyle are the main drivers that determines your happiness:

  1. Convince yourself that your time, expressing your gratitude, and your health are more important than money and your bank account balance.
  2. Remind yourself that your values and that your closely aligned goals when faced with critical life and financial decisions.
  3. Make deliberate and strategic decisions that allow you to have more time across days, weeks months, and years.

Among millionaires, past studies reveal that wealth may be likely to pay off in greater personal happiness only at very high levels of wealth ($10 million or more), and when that wealth was earned rather than inherited.

Takeaways

Research concludes that money can buy life satisfaction and that money is unlikely to buy happiness, but it may help you achieve happiness to an extent through experiences, expressing gratitude, and giving to others. Look for experiences and opportunities that will help you feel fulfilled and that are aligned with your values. And, remember to count your blessings.

And beyond that, you can find happiness through other nonfinancial means, like spending time with people you enjoy or thinking about the good things in your life. Since, “Happiness comes from spiritual wealth, not material wealth…”, according to Sir John Templeton. “Happiness comes from giving, not getting. If we try hard to bring happiness to others, we cannot stop it from coming to us also. To get joy, we must give it, and to keep joy, we must scatter it.”

References:

  1. https://www.pnas.org/content/107/38/16489.full
  2. https://www.cnbc.com/amp/2020/10/19/even-millionaires-make-this-money-mindset-mistake-says-harvard-psychologistheres-the-real-cost-of-it.html
  3. https://www.healthline.com/health/can-money-buy-happiness

Deciding to retire or not | 3 preretirement phases | Fidelity

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Key takeaways

  • While financial and work-related factors are the primary reasons people continue to work, nonfinancial factors like family, health, and lifestyle ultimately cause people to pull the trigger to retire.
  • Wellbeing in retirement is not just about money, or even intellectual stimulation. It’s largely about the freedom to do what you want, when you want.
  • As you enter a stage of preretirement, consider working with an advisor to help shape strategies for Social Security, health care, and cash flow in retirement.

When will you be ready to retire? Particularly if retirement is still far away, you’re probably thinking in terms of dollars—how many you will have and how long they will last. But new research finds that for many people, the decision to retire is not just about money. It’s about life, and the freedom to enjoy it.

That’s the conclusion of an extensive survey of over 10,000 pre-retirees and recent retirees. The online survey was conducted by Fidelity Investments in collaboration with the Stanford Center on Longevity and Greenwald & Associates1 and only included respondents who believed they had some control over if and when they would stop working full-time.

While financial and work-related factors are the primary reasons people continue to work, with eligibility for Medicare and Social Security as key factors, the survey also finds that it’s often nonfinancial factors like family, health, and lifestyle that ultimately cause people to pull the trigger to retire. Among retirees, 72% chose leisure as a very or somewhat strong reason to retire, 64% pointed to stress at work, and 62% cited a desire to spend more time with grandchildren.

“We’ve seen a shift in values as people near retirement,” says Eliza Badeau, Director of Thought Leadership at Fidelity. “Many people seem to desire freedom over money. It’s less about the money and more about spending time where it matters most to them,” she adds. “Most people say they look forward to the freedom that retirement brings such as spending time with their family or doing hobbies they enjoy—ultimately trading in that job stress for leisurely interests.”

Research finds that for many people, the decision to retire is not just about money. Discover 3 preretirement phases that are influencing peoples decision to retire here.

— Read on www.fidelity.com/viewpoints/retirement/time-to-retire

Self-Care Is Not An Indulgence. It’s A Discipline. | Forbes

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Self-Care is a Discipline. It takes discipline to do the things that are good for us instead of what feels good in the moment. It’s takes even more discipline to refuse to take responsibility for other people’s emotional well-being. And it takes discipline to take full and complete responsibility for our own well-being.

Self-care is also a discipline because it’s not something you do once in awhile when the world gets crazy. It’s what you do every day, every week, month in and month out. It’s taking care of yourself in a way that doesn’t require you to “indulge” in order to restore balance. It’s making the commitment to stay healthy and balanced as a regular practice.

Ironically when you truly care for yourself, exercising all the discipline that requires, you are actually in a much stronger place to give of yourself to those around you. You will be a happier parent, a more grateful spouse, a fully engaged colleague. Those who take care of themselves have the energy to take care of others joyfully because that caregiving doesn’t come at their own expense. And those who take care of themselves also have the energy to work with meaning and purpose toward a worthy goal. Which means they are also the people most likely to make the world a better place for all of us.
— Read on www-forbes-com.cdn.ampproject.org/c/s/www.forbes.com/sites/tamiforman/2017/12/13/self-care-is-not-an-indulgence-its-a-discipline/amp/

How to Cultivate a Growth Mindset

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“What you think, you become.”

The idea that our thoughts become our reality? Well that’s something we tend to forget, even if we know it’s true. We prefer to tinker with our outside worlds—to switch our diets, change jobs, try a new life hack. Don’t get me wrong, these do help you move toward a better life.

“Wealth occurs in the mind long before it ever shows up in the wallet”

But the most successful people in history know this: Your thoughts create your reality.

Ancient Wisdom
“Watch your thoughts, they become your words. Watch your words, they become your actions. Watch your actions, they become your habits. Watch your habits, they become your character. Watch your character, it becomes your destiny.” —Lao Tzu


“90% of success is mindset.” —David Bayer
Science has finally joined the party and confirmed what our top minds have known for three millennia: Our minds create what shows up in our reality. David Bayer’s clearly done serious thinking about mindset and he had some fascinating science about the power of thought:

  • Thoughts create happiness: In a study published in the Yonsei Medical Journal, researchers found a strong connection between positive thinking and overall life satisfaction.
  • Visualization creates our future: Scientists at the Institute of Neurology in London have shown that those who visualize a better future are more likely to create one.
  • Affirmations bring results: Researchers at the University of Exeter foundthat people who use affirmations (constructive, repetitive thought) to set goals were more likely to achieve them.
  • We tell our brain what to look out for: The Reticular Activating System in our brainstem allows only important information into our consciousness. Studies suggest we can program it with a positive mindset and good things will show up in our lives.
  • Negativity steals our power: When we worry or feel fear, our adrenal glands release the hormone cortisol. Research shows that high levels hurt our productivity and lead to burnout.
  • Others’ mindsets influence our own: Neuroscientists recently discovered“mirror neurons” in the brain that respond to actions we see in others. Surround yourself with positive thinkers and you’ll become one.

— Read on www.success.com/how-to-cultivate-a-growth-mindset/

Financial Wellbeing Pays Off | Gallup

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  • Employee wellbeing is more than just physical health
      • A person’s experience of the five elements of wellbeing affects their work
      A financial wellbeing initiative can improve performance

    Gallup’s research into wellbeing found that “a life well-lived” — the underlying concept of wellbeing — requires the fulfillment of five elements: Career, Social, Physical, Community and Financial wellbeing. A person’s experience of wellbeing — whether thriving, struggling or suffering — affects every aspect of their life. Including their experience of their job.
    — Read on www.gallup.com/workplace/267152/financial-wellbeing-pays-off.aspx

    Young and Turning Sixty

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    For those of us who are turning sixty years young, we sexagenarian have much in life to be grateful and thankful regardless of the current hand we’ve been dealt. As we ease into the seventh decade of life, just the mere fact that we were able to awake each morning, to take another breath, and to feel the warmth of the of the sun on our skins represents a great blessing.

    Furthermore, we should cherish and appreciate each day of walking above ground since the daily walk is not guaranteed and it beats the alternative by a wide margin.

    Additionally, we should all be from the school of thought which dictates that as long as you’re alive, you should never, never, never, give up on on this life, or give up on achieving your dreams and goals. You should not fear failure, but you should fear not trying or quitting too early before achieving your dreams and goals. Follow the example of the Ohio born Thomas Edison who was quoted as saying that “I have not failed. I’ve just found 10,000 ways that won’t work.” When trying to create the incandescent light bulb. After thousands of repeated failures, he persevered and never permitted the fear of failure stop him from realizing his dream.

    So, my fellow sexagenarians, never give up on pursuing your dreams or passion… since it never too late to write the next great American novel, to visit that faraway dream vacation destination, or to pursue that new skill of learning to play the piano or alto saxophone.

    When in doubt, remember the words of the genius Albert Einstein, You never fall until you stop trying.”