07-JULY 28-2020

                                                                                     Good morning.
Big Fish... Little FishHave you ever seen the old tootsie roll pop commercial where the boy owl asks, “how many licks does it take to get to the tootsie roll center of a tootsie pop?”  The owl responds by saying, “good question’” taking the pop, takes three licks and then bites it.  The owl then responds to the boy by saying, “three.”
The issue with stimulus & deficits is that the money spent is generating less and less returns to the real economy and the stock market as exhibited by gold’s meteoric rise.  We keep adding more stimulus be-fore the original has a chance to do anything for fear of failure.  How much growth will the economy get from $1 trillion in deficits?  The world may never know.

Now here’s the rest of the news:

Capitalize On What Could Be a Major U.S. Lithium Breakthrough Piles of what 'looks like' salt
Lithium could soon be one of the world’s most coveted minerals.
Citigro up estimates lithium demand will increase 64% in the next five years, as batteries that fuel electric vehicles and store solar and natural-gas power become the norm.  Two famous energy explorers, who have built billion-dollar companies, have set up shop at a prop-erty in Nevada, which could soon be America’s largest lithium deposit.

July 28, 2019

What makes people ruin their lives?

by Jennifer Taylor, Lawyer / Personal Finance Writer

I believe that there are 3 main things that ruin people’s lives.  It does not happen instantly or during a single event, but slow and steady over time.

I. They Can’t Get Off the Consumption Treadmill

The “Keeping Up with the Joneses” idiom refers to when an individual constantly upgrades their life-style because they see their neighbours doing the same and do not want to be perceived as having an inferior socioeconomic status.  For example, you may buy a new Mercedes because you noticed your friend just bought a new BMW.  You upgrade your iPhone because your co-worker has the newest version.

This is dangerous for two reasons.

First and foremost, you will always lose.  New products are coming out every single second, with brilliant marketers selling you on why you need it in your life.

You will also start to develop the mindset that happiness can be obtained through the pursuit of bigger and better possessions.  This is a recipe for disaster.  It also shows to your colleagues, friends, and family that you value style over substance.

Second, this is a sure-fire way to never accumulate wealth.  In order to generate true wealth, you have to live within your means.

I live a frugal lifestyle.  I only purchase indulgences that truly optimize my happiness.  I still eat sushi, get drinks with friends and buy coffee at Starbucks.  However, these are all done within moderation are ultimately constrained by my budget.  Since I do not engage in these activities every single day, it actually optimizes the pleasure I receive from these indulgences when I do have them.

We need to be more mindful about what we consume.

II. They Lack Discipline

You need habits.

You need routine.

You need values.

Without either one of these things, you will be directionless and unproductive.

I would not be able to write 20 hours every week while working as a full-time lawyer without a rigid daily routine.

During Monday to Friday, I wake up at 5:30 AM, make coffee, sit down at my desk and write for an hour and a half.  I then shower, eat breakfast and get ready for work.  On my half an hour commute to and from work, I read either on my iPad or a physical book.  When I return home in the evening I write for at least another hour.  An hour before I sleep, I stop scrolling social media and leave my phone on my nightstand.  I then read, again, until I head to bed.  Rinse.  Repeat.

The hours that have been given are enough to accomplish our wildest goals.  We just don’t have the discipline to get anything done.

III. They Don’t Chase What Makes Them Truly Happy

I believe, more than anything, that you need to figure out two things: your interests and what you’re good at.  And then, how those two things intersect so you can profit off what you love.

This relates to my first point – stop looking for happiness in things that will end up in a landfill in 5-10 years.  Instead, spend that money on exploring what you enjoy and what you’re good at.

Instead of upgrading your cellphone, enroll in a writing course.

Instead of upgrading your house, travel somewhere new.

Instead of upgrading your car, buy those luxury craft materials that will take your handmade product to the next level.

It’s such a simple formula but one that few rarely follow.

Determine what makes you happy.

Determine how you can keep doing that for as long as possible.

Concentrate on what matters.  Stop allocating your time and money on the rest.

In summary, people ruin their lives because they lack focus, discipline and self-awareness.  Although these are interconnected, I view them each as very distinct.

You need to focus on things that only align with your values, ambitions and aspirations.  You need the discipline to put in the actual work to achieve the goals that you defined.  And, most importantly, you need the self-awareness to know what actually makes you happy.

Thanks Jennifer, as you teach, we will listen.  🙂

IMG_0712
Come From Aways, Do You?

More Posts

04-APRIL 16-2021

Good morning. Retail sales came in with a blowout number, sending stocks to all-time highs and reversing a pre-market drop.  The reason is thanks to the last round of stimulus payments.  While earlier rounds made their way into the stock market, Bitcoin, or paying down a credit card, it’s clear from the retail numbers that many are spending. Governments and central banks are also likely noticing the impact as well.  If inflation numbers don’t materially rise and stay higher, the lesson may be learned that money can be created seemingly infinitely, as long as it’s designed to be spent.  Like

04-APRIL 15-2021

Good morning. Typically, April 15th is the day taxes from the prior year are due. 2021, like 2020, has seen a delay in payment.  Add in extensions, and you can float your payment to Uncle Sam for a year well into the autumn of the next. Tax talk hasn’t been too big in the past year.  For those on the upward part of the K-shaped recovery, it’s been withheld from their jobs as it’s been made.  For those on the lower end, there’s been less made to tax, or even the lower tax rates on unemployment benefits.  At some point,

04-APRIL 14-2021

Good morning. Coinbase is expected to make its initial public offering today.  Analysts have provided expectations for the company to trade as high as $600 per share, and potentially with a valuation of $148 billion.  That would make for one of the largest companies to go public in history. With cryptocurrency prices rushing to new all-time highs ahead of the IPO, and with estimates getting increasingly bullish for the space, this big IPO could be a sign of a top.  While the chart patterns suggest such a top is a long way off, traders should watch to see how shares

04-APRIL 13-2021

Good morning. The stock market is forward-looking.  And it’s been looking forward to this earnings season.  It’s a chance for companies to report solid numbers for the first quarter of 2021.  Earnings are expected to not only be good compared to the 4th quarter, but will also provide a strong view relative to the first quarter of 2020, when stocks had to first start pricing in the pandemic. But the real question is, what happens after earnings?  With some solid numbers likely, and with many companies still avoiding any future guidance, the next few weeks may lead to a big

04-APRIL 12-2021

Good morning. The Bureau of Labor Statistics was down early on Friday, as traders looked to see the latest inflation numbers.  With a consumer price index level up 1.0 percent month over month, or twice what was expected, inflation numbers are certainly looking up. Over time, high inflation makes it difficult for companies to provide accurate estimates of costs.  Projects are delayed, and the economy and the stock market contract.  While some of that fear has been bubbling up, for the time being, a quarter or two of extra inflation may not cause a big market selloff.  Traders can potentially

04-APRIL 11-2021

“If you want your business to thrive, you must fall in love with sales and marketing.” –Marie Forleo Here’s to a better YOU … and now … Today’s DarrenDaily Recap Sunday.  A collection of the weeks videos from Darren Hardy.  Enjoy! Naturally beautiful: Lots of things to do in Charlottetown, Prince Edward Island, Canada. Lots of local shops to visit and people to meet! April 11, 2020 I play golf.  Tiger Woods earns millions.  I earn zero.  Totally unfair! Network marketing is the same.  The people that do it well, earn the most money. As we get better in businesses,

04-APRIL 10-2021

How to set boundaries … and say NO You know, when we were younger, we were wisely taught by our parents, teachers, and law enforcement officials to say NO.  Somewhere along the lines, however, we lost our way.  We started feeling bad about saying no, and we began saying yes…to everything.  The result?  We stretch ourselves thin by taking on anything and everything that comes our way – often reluctantly, begrudgingly, and resentfully.  This happens in our personal and professional lives, and it not only creates overwhelming (yet unnecessary) stress, it also puts tremendous strain on our relationships. In our

Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on pinterest
Share on Pinterest

Leave a comment

Send Us A Message