Tag Archives: Growth

What this man regrets about going from $2.26 to $1 million in five years

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BY MARKETWATCH — 12/12/2019 3:37 PM ET

Achieving financial independence took time and sacrifice — and came with some regrets
In five years, Grant Sabatier went from having just a few bucks in his bank account to more than $1 million — and he did it through side hustles, sacrifice and investing. But if he had to do it all over again, he said he probably wouldn’t have done it quite the same way.
He made many trade-offs, and a few mistakes, like “making money my God and chasing the next thing, no matter what,” he admitted.
The young millionaire, who blogs at MillennialMoney.com (https://millennialmoney.com/) and is the author of “Financial Freedom,” accomplished financial independence by making small goals for himself — first, shooting to save $1,000, then $2,000, then $4,000. As he reached his goals, he’d double them. “We usually focus on the million-dollar goal or retiring early, and while it is important to set goals, don’t let those goals distract you from taking the next step,” he said. Starting small and consistently doubling his figures made the goal accessible, mentally and physically. “If you are completely in debt and you don’t have anything saved, just save your first $1,000, and see how it makes you feel,” he said. “You’ll feel better than you thought you would.”
But there needs to be balance, something he did not account for on his path to $1 million. That means enjoying life, and that looks differently for everyone (http://www.marketwatch.com/story/its-time-to-stop-judging-people-for-drinking- lattes-and-getting-regular-haircuts-2019-05-14). Stripping yourself of experiences and items that are meaningful can backfire. Sabatier said he had to detox after five years of working 100-hour weeks and traveling, for example.
Hitting a financial goal should be less about quantitative reasons, like having $1 million in an investment portfolio, and more about qualitative reasons, like leaving a job you hate or paying for an annual family trip. “It’s about looking at your life. Do you feel like you’re growing? Do you feel like you’re in a place you like and you have friends you like? Do you like your life?” Sabatier said. “If the answer to that question is no, then the first place you need to look is your money.”

— Read on www.marketwatch.com/story/what-this-man-regrets-about-going-from-226-to-1-million-in-five-years-2019-12-12

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/

Why Failure Is Good for Success | SUCCESS

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Failure is as powerful a tool as any in reaching great success.

“Failure and defeat are life’s greatest teachers [but] sadly, most people, and particularly conservative corporate cultures, don’t want to go there,” says Ralph Heath, managing partner of Synergy Leadership Group and author of Celebrating Failure: The Power of Taking Risks, Making Mistakes and Thinking Big.

In today’s post-recession economy, some employers are no longer shying away from failure—they’re embracing it. According to a recent article in BusinessWeek, many companies are deliberately seeking out those with track records reflecting both failure and success, believing that those who have been in the trenches, survived battle and come out on the other side have irreplaceable experience and perseverance.

“The quickest road to success is to possess an attitude toward failure of ‘no fear.’ ”

They’re veterans of failure. The prevailing school of thought in progressive companies—such as Intuit, Corning and Virgin Atlantic—is that great success depends on great risk, and failure is simply a common byproduct. Executives of such organizations don’t mourn their mistakes but instead parlay them into future gains.

“The quickest road to success is to possess an attitude toward failure of ‘no fear,’ ” says Heath. “To do their work well, to be successful and to keep their companies competitive, leaders and workers on the front lines need to stick their necks out a mile every day.

Embrace failure as a necessary step to unprecedented success.

— Read on www.success.com/why-failure-is-good-for-success/

10 Reasons It Is Never Too Late to Start a Small Business

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Those who start businesses later in life have a better chance of reaching success: Studies have shown that if you’re over 55 years old, you are twice as likely as your counterparts who are under 35 to launch a high-growth startup.

Not convinced? Here are 10 reasons you would make a better entrepreneur now than you would have when you were younger.
— Read on www.thebalancesmb.com/10-reasons-it-s-never-too-late-to-start-a-small-business-4083127

JP Morgan CEO Dimon…U.S. Consumers Remain Strong

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JP Morgan (JPM) released its quarterly earnings yesterday beating The Street estimates.

During the earnings call, JPM Chief Executive Officer Jamie Dimon commented that, “the consumer remains healthy with growth in wages and spending, combined with strong balance sheets and low unemployment levels.” He also indicated that economic growth appears to be in slowing and U.S. – China tensions continue to be a drag on growth. (https://bit.ly/2ML9qO6)

CEO Dimon’s positive view of the U.S. economy and consumer stands in sharp contrast to the prevailing mood on both Wall Street and Main Street regarding the immediate future and direction of the U.S. economy. Many individuals in the financial industry and also retail investors are skittish and fleeing from growth to safety in their investment portfolios.

The proverbial elephant in the room is whether the economy is headed into a recession the business cycle that is long in the tooth. According to CEO Dimon, there will be a recession sometime in the the future, but probably not in calendar year 2020 or the next six to eighteen months.

www.cnbc.com/2019/10/15/reuters-america-update-2-jpmorgan-beats-profit-estimates-on-strength-in-bond-trading-underwriting.html

Here’s What Warren Buffett Really Thinks About the Economy | Money

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The Oracle of Omaha says the U.S. economy has plenty of runway left before the next recession. “Right now, there’s no question: It’s feeling strong. I mean, if we’re in the sixth inning, we have our sluggers coming to bat right now,” Buffett said in an interview with Becky Quick on CNBC’s “Squawk Box” Thursday morning.

Buffett added: “Business is good. There’s no question about it.”
— Read on money.com/money/5304816/warren-buffett-just-made-a-surprising-prediction-about-the-economy/

Talking the Economy into Recession

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In the past four to six weeks, the financial forecasters and entertainment media hosts have been stoking fears of recession occurring in the next twelve to eighteen months. Additionally, numerous financial TV hosts and commentators have performed a Paul Revere like “recession is coming” warning (e.g., “Recession Countdown Clock) despite existing strong fundamentals of the U.S. economy. Essentially, they’re following the standard news media mantra that “if it bleeds (economy perceived to be falling into recession), it leads”.

Whether recession becomes the top trending financial search engine topic or fanned by the hysterical coverage by the financial entertainment media, Americans are succumbing to worry about recession. As a result, they are behaving and taking action that may be detrimental to their long term financial goals and health. Several reports indicated that investors have been moving from equities to less riskier asset classes of bonds, cash and cash equivalents.

Recently, a financial pundit commented that we’re in a peculiar environment of increased U.S. recession fears in the midst of a fundamentally strong economy. Anecdotally, the growing recession fears are due to the near constant media coverage about recession. This recession talk persist despite the strong economic fundamentals, an economy that is still growing, and a strong labor market and consumer spending. The pundit also commented when such dichotomous conditions are present, there are always opportunities present for the savvy and patient investor.

Bottom line, the U.S. economy remains strong and is still growing, but the rate of economic growth is slowing (decelerating growth). Labor market remains healthy and the consumer is spending. The uncertainty of the trade turmoil has caused a slowdown in capital expenditures and business investment. One question disturbing economists is whether businesses have slowdown on hiring due to economic uncertainty. And, finally, Americans are working and Americans are getting paid, according to the August 2019 Payroll numbers.