Healthy, Wealthy, Wise # 2
December 21, 2017 brought us to another Healthy, Wealth and Wise Conference. The goal of the conference is for people to bring ideas and share them in an effort to help one another grow. Below is a summary of the ideas.
With the new year upon us, health tips were simple, yet effective. We shared ideas such as using a magic bullet to create smoothies that quickly fill the body with healthy fruits and vegetables. Another idea was to start each morning with 100 pushups and 100 squats. This is a great way to change your state, get motivated, and make sure your body is moving in the right direction.
On a deeper note, one of the members brought exciting new research about helping people with PTSD. A doctor working with a PTSD patient was experimenting with an epidural injection between C-6 and C-7 to relieve muscle spasms on his patient. One week after the injection, the patient, who had severe symptoms of PTSD, came back to the clinic in amazement saying that he had no symptoms during the past week. The doctor, surprised, did more research and did more successful injections with other patients. Briefly, the doctor has found that PTSD may have physical roots.
Wealth was the major topic of the day with the new tax law looming. Below are several great suggestions on how to add wealth to your portfolio.
- Use other people’s money. The biggest limiting factor for people acting on their dreams is money. That’s why people love scratch off lottery tickets so much. When it comes to starting a business, having enough capital to get the business off on the right foot and still having enough leftover to pay expenses for about 1 year is ideal. This can be anywhere from $100,000-$1,000,000 which most people don’t exactly have in a piggy bank. So use other people’s money or OPM. The biggest two ways to go about this is 1. Find an investor and 2. Contact banks for a business loan. If you choose to find an investor be sure they have values that align with yours and you clearly define expectations upfront and on paper. If you contact banks remember that banks are a business that thrive on lending people money so get over the initial fear of asking for money. Create a board of advisors from local businesses or LinkedIN and use their experience and resumes as leverage for acquiring more capital. Always remember that we live in a world of abundance.
- In terms of business building, another great suggestion is to ask the question: “Who do we know that already does this and how can I get them to help?” There is no need to reinvent the wheel in terms of business building. Someone has most likely already done the leg work for you.
- Dave Ramsey author of the Total Money Makeover said ” I like the way I’ve built wealth better than the way you haven’t. With the onset of bitcoin and a multi-year bull market, everyone seems to be an expert in the world of investing. However, time and again the average person succeeds by using the slow and steady approach. Look at the image on the right, and see how starting early can lead to much greater returns.
- Starting early in investing is a major key to building wealth. One other way to build wealth is using a company match for a 401(k). Several participants shared how much their company is willing to match. Whether it’s 1%, 6% or a lump sum, your best bet is to take the match and let the company help build your wealth. This is another example of using other people’s money.
- Invent yourself, and then reinvent yourself. The idea here is to focus on the notion that you can continually change. According to a recent study in Forbes Magazine 70% of people do not like their jobs. One of the major factors is that we feel that once we identify ourselves in a career that becomes who we are. However, once you identify yourself with a clear vision, it doesn’t matter what you do, it only matters who you are. For instance, you can be a generous and thoughtful person who does architecture. Or you can be a person who is dedicated to helping others perform better who works in sales. The point is that it is not about what you are, but rather who you are. So keep reinventing yourself to find the best you.
- What is your standard? This is a great ten-minute video from Tony Robbins explaining how the most successful people in the world have a standard. Tony focuses on people who have a standard for the way they eat, the way they work, the way they earn. If you have a lower standard for yourself, you will succeed at a lower rate. The plan is simple, raise your standard and your life will increase.
- Jim Rohn said “Discipline is the bridge between goals and accomplishments.” Building off of the standards set by Tony Robbins, this quote explains that the best and the brightest in the world don’t get to where they are by trying to do the least possible. Instead, the most successful people have standards of discipline that help them achieve. Goals are great, and we all need them, but if we are not disciplined, we will never reach them. If you need further motivation on this matter, check out Jocko Willink’s video entitled Discipline Equals Freedom
- Read more books. If you consider that the average personal development book is 200-250 pages and you read 20 pages a day, you have the capability to read 25-30 books in 2018. Imagine how your life would be better if you engage in the world of personal development. Below are some book recommendations to start with.
The Tail End– This article will put in perspective how much time we have left in life. If you think you will live forever, think again….. Now do something meaningful with life.
The Miracle Morning – If you have trouble waking up in the morning, or are not motivated in your morning routine, this book is for you.
Thank you very much for taking the time to read this. If you have other questions or comments feel free to reach out.
- S Prev