Tag Archives: Personal 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

7 Signs You’re Walking a Financial Tightrope – USAA Community – 201662

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Living paycheck to paycheck is stressful.
 
The concept brings to mind a tightrope walker wobbling on the high wire. Unfortunately, it’s a reality for many Americans. A USAA study last year revealed a third of our members are walking that tightrope. If this is you, we can help.
 
Whether you’re making $30,000 or $300,000, it’s easy to fall into the trap of living paycheck to paycheck. And the scary thing is you may not even realize it.
— Read on communities.usaa.com/t5/Family-Life/7-Signs-You-re-Walking-a-Financial-Tightrope/ba-p/201662

Animal Spirits

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Animal spirits refers the state of confidence or pessimism held by consumers, businesses and investors. Regarding financial markets, they represent the emotions of confidence, hope, fear, and pessimism that can affect an investor’s financial decision making, which in turn can fuel or hamper economic growth.

If spirits are low, then confidence levels will be low, which will drive down a promising market—even if the market or economy fundamentals are strong.

Likewise, if spirits are high, confidence among participants in the economy will be high, and market prices will soar.

According to the theory behind animal spirits, the decisions of investors and business leaders are based on intuition and the behavior of their competitors or other investors rather than on fundamental analysis.

Famous British economist, John Maynard Keynes believed that in times of economic upheaval, irrational thoughts might influence people as they pursue their financial self-interests. In 1936, Keyne published, The General Theory of Employment, Interest, and Money, where he postulated that trying to estimate the future yield of various stocks, companies, or financial activities using general knowledge and available insight “amounts to little and sometimes to nothing.”

Keynes referred to these psychological factors that make investors jump into the equity market — in the face of deep uncertainty and volatility, as animal spirits. He thought, only a manic, driven, strong-willed person would put capital at risk in periods of high uncertainty and volatility.

When animal spirits are strong, investment is sufficient to maintain aggregate demand; when they lag, aggregate demand falls, and the economy lapses into depression.

It is assumed that the only way people can make investment decisions in an uncertain and extremely volatile environment is if animal spirits guide them.

Source: CARLA TARDI, Animal Spirits, Investopedia, Updated Apr 20, 2019

Importance of Embracing Failing

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Everyone, and we mean everyone, experiences failure in life.

The difference is that most successful people have embrace and learned invaluable lessons from failure. Essentially, when they fail; when they embrace failure, they tend to learn lessons from the experience. They tend to grow and mature. They achieve new understandings and perspectives on life, love, business, money, investments, relationships, and people.

You can’t control the volatility of the stock market, market forces, the miserable weather or readers dismal response to your blog post. What you can control is your reaction to it.

We must learn how to embrace failure positively and understand that fearing failure only holds us back from realizing our full potential. By recognizing and accepting that everyone fails, we are better able to embrace failure as a regular part of life. For example, American President Lincoln and British Prime Minister Churchill both failed multiple attempts to get elected to public office until becoming President of the United States and Prime Minister of Great Britain, respectively. Thus, since most of what we learn is from trial and error, beginning when we fall down again and again trying to walk, it’s only natural to recognize that everyone fails … and often.

“Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday.” William Rudolph

Thomas Edison, one of the greatest inventors in modern history, once said, “Genius is one percent inspiration, ninety-nine percent perspiration.” While experimenting on the incandescent light bulb, Edison exclaimed to a reporter’s question, “I have not failed. I’ve just found 10,000 ways that won’t work.” Success typically comes after numerous failures. There’s something magical that happens when you don’t give up.

Failure can be an immense asset if we are trying to improve, grow, learn, or do something new. It’s the necessary feature that precedes nearly all successes. And, there’s nothing shameful about being wrong, about changing course. Each time it happens we have new options. Problems can become opportunities and new insights to solve old challenges. Deep down we know that our past failures have contributed immensely to our personal growth.

People fail in small ways all the time. To gain the benefits, we have to learned from the failure. The simple truth is – no great success was ever achieved without failure. It may be one seemily life changing failure. Or a series of failures. But, whether we like it or not, failure is a necessary stepping stone to reaching our ultimate goals and achieving our dreams.

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/

21 lessons for how to get the most out of life, from a guy who retired at 50 – MarketWatch

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A man who retired at 50 offers some unvarnished truths about life and retiring.

“Life should not be a journey to the grave with the intention of arriving safely in a pretty and well-preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming “Wow! What a Ride!” — Hunter S. Thompson

— Read on www.marketwatch.com/story/21-lessons-learned-from-early-retirement-2018-04-12