Cha-Ching! An Easy Way To save A Million Dollars

In today’s tough economy, it’s easy to lose hope and get disillusioned about the future.  When I was growing up, ambitious guys and gals used to talk about being millionaires by the age of thirty.  It is a common dream, but when the demands of life set in, the dream of having a million dollars dissolves to a distant memory.

Having a million dollars for retirement is however a reasonable reachable goal.  All it requires is some planning and some discipline.

A practical way to save a million dollars for retirement is by contributing to your 401 k, assuming that it will take 30 yrs of working full time to achieve this goal and a rate of return of 8%, if you put aside 680$ a month, every month for 30 years, you will have a million dollars for your retirement.  So if you start contributing at 30 or 35 and God willing nothing drastic happens like illnesses or long periods of unemployment or just dipping into those 401 k funds, it is reasonable to say you can be a millionaire if you want to and work towards it.  An easy way to make sure you are contributing to your 401 k is to automate it, set it up where the funds are contributed to your 401 k before you get your paycheck so if you are paid  twice a month, set up your contribution where they deduct a specific amount as opposed to a percentage i.e 340$ from  every pay check you earn goes to paying yourself first.

Granted, the market does not give returns of  8% every year, some years are double digit returns great and some years are downright ugly, but on average over a period of 30 years, a return of 8% is highly probable.

There are some costs associated with investing, like adviser fees, the declines in the market, the costs to buy and sell securities, however if your company matches, then the match should smooth out these costs and bumps.

Is a one million dollar retirement possible?  Absolutely.  The key is the habit of paying yourself first every month, automate the process so that it’s easy, and best of luck!

Happy Investing!  Comment below, I’d like to know what you think!


Photo Credit: Google Images

Who Run the World- Girls! A Case For Women And Investing.

Women make up the majority of the workforce today, they earn 60% of University degrees in USA and Europe and make majority of the spending decisions in the home.  With this impressive statistics, it is unfortunate that women have generally shied from investing.  Alot of women  have expressed being uncomfortable with investing because of several reasons, one is that they feel that they just don’t have the know-how and are terrified of making decisions in a field they are unsure about.  Also traditional gender roles usually lead to women not fully taking advantage of investing.  Even though women make most of the bill paying decisions in the home, men tend to make the decisions regarding investing and large ticket items.

It is critical for women to become more involved in investing now more than ever.  Here are some of reasons why more women should invest.

Control

It is important for women to take control of their investing because, majority of women are solely responsible for their living expenses, the number is actually 53%.  Right now according to the 2011 census there are 53% of women who are unmarried in America, that includes single women, divorced and widowed, these women are pay their own bills, they are responsible for their healthcare and possibly the healthcare of dependents.

Assuming 47% of women above the age of 18 are married, which includes women who are separated from their husbands or have an absent spouse, 50% of these marriages will end up in divorce at some point in their lives.

If 80% of women over the age of 18 are going to be single, either choosing to be single or through, divorce and widowhood and will need money to cover their living expenses, food and medicine, why should such critical financial decisions  that will determine the quality of life be left to their spouses or significant others?  Just for self preservation purposes alone, Investing for your future should not be anyone’s responsibility but your own.

Earning Power

Women are paid 13-23% than the male colleagues in the same position.  As unfair as it may be, it is the reality now.  That means women over the course of their working career make significantly less than men and therefore invest less for retirement and have less social security benefits.  Why is this significant? Less money Invested now means less money to live on later, when it will be harder to make an income.

Expenses

Women live longer than men; both my grandmothers outlived my grandfathers.  My grandmother on my father’s side outlived my grandfather by 24yrs and chose not to remarry.  On average women live 5 years longer than men, that means, women need to save more money than men because they live longer and therefore have more expenses.  For those that are married, most women end up caring for their husbands last years, where their healthcare costs can actually make a huge dent in the family’s savings due to very expensive long term care situations.

The bottom line is a lot of women are completely unaware of what it is going to cost to live in the future.  With better healthcare we are looking at long retirements,  however, only 41% of women contribute to their 401 k.  We are going to need more money to live on in the future and need to make up for it with aggressive saving and Investing.  There is plenty of literature on investing and plenty of access to good advice from financial advisers   So many women in my office always say “I didn't know” when they finally face the reality of their finances.  Let that not be an excuse anymore.


Photography Credit: Google Images

Handle Business Meetings Like A Pro

Working for myself, I take a lot of business meetings, as an entrepreneur you have to deal with a lot of vendors that  may want to do business with you and provide products or services.  It is surprising however, how many folks usually appear completely unprepared for meetings with a potential business partners or potential new clients  Along the way I have found some simple things that can increase your chances of landing that big account or that great business partner.

Research

First thing is to research you business partner or company you want to do business with.  I mean stalk them on social media, look at their website, find out everything you can about the individual that you are going to meet, find out if the company has been in the press. This information is important because when you have your business meeting, it will be obvious that you have done your homework, you are well prepared for the meeting and share some common Interests.

Have a conversation

When it is time to have a meeting, have a conversation.  Compliment your potential client and business partner on what they have done so far no matter how large or small an organization.  Every entrepreneur is proud of what they have built and it would be great if they are acknowledged for that.  The biggest no-no in a meeting is to minimize what they have done or suggest they have “further to go” (trust me it has happened in a meeting before).  Also a pet peeve of mine is when, women are not acknowledged in a meeting.  If you are having a meeting with 2 business partners ( a man and a woman) and all the attention is directed to the man as if the woman does not make decisions, you will absolutely not get the business you want, tip- do not alienate a key decision maker based on gender.

Be enthusiastic about your product and provide value, in other words provide the service or product that the business needs.  Keep your conversation short and pleasant, time is extremely valuable and respect the person’s time.

Send a Note

Send a thank you note after the meeting and follow up with a call or email, then wait.  Sometimes a business will do business with you immediately, sometimes it may not be the right time or they may not do any business with you at all. The important thing is to make sure you continue with your current business you have at hand and other clients, do not depend on this one client to do business with you so you can pay your rent, try not to have an air of desperation, desperation is like blood in the water and makes everyone uneasy, so check with the business from time to time and just wait till the business is ready to do business with you.

How do you handle business meetings?  I would love to know please subscribe and comment!

Why Having A Mentor Increases Your Earning Power

There is no getting around it; sometimes you learn lessons in hindsight.  One of the lessons I learnt rather late is the Importance of mentor-ship.   People who have mentors in business and career are twice as likely to be more successful than those without.  The reasons why mentor-ship is important, are obvious to me now but were not immediately obvious to me while I worked various jobs at different companies, back then all I was interested in was going to work, doing what I needed to do and leave when work was done, then I started noticing that those who had a friendly relationship with generally older more senior members of the organizations I worked, usually got better assignments sometimes even promotions.  Those of my colleagues that had mentors seemed to get noticed more and kept getting in positions that where more successful and ultimately made more money.  The mentors in the entrepreneurial world or the career world are extremely valuable because of some of the reasons below.

Value

Mentors provide great advice and in entrepreneurship, great advice is extremely valuable.  A mentor is a great person to bounce ideas off of especially if they have been in a similar business as yours.  The benefit of the mentors experience is more valuable than money in the bank, they can see minefields before you are aware they exist; they can quickly let you know if an Idea can work or can’t work and why, they can suggest better practices that they have tried etc.  Having a mentor is like having an extra set of eyes and an extra brain that you can tap into whenever you need to.

Network

Mentors typically have a better network than yours; successful people tend to have successful friends.  If you do your job well and have a great relationship with your mentor, they gladly introduce you to their friends who can help your career on several levels as valuable contacts in different organizations that you could probably work with or you can do business with in the future.

Discomfort

A good mentor will push you beyond your comfort zone; they will encourage you to take risks with your career and business which forces you to think outside of the box and therefore acquire new skills and grow in confidence.  The more skills and experiences you have, the more tools you have to leverage to earn more.

Good advice is hard to find, at the end of the day a good mentor would only be valuable if you are open to listening to advice and acting upon it. I found some great mentors that truly pushed me and encouraged me to do things differently.  How have mentors helped you in your life?  Please share and comment below.

YOLO FOR SHIZNIT!

I just love the way YOLO For SHIZNIT  sounds!!  I could say the phrase over and over, all day.  I feel like one of the cool kids when I say it.  I know it dates me but I don’t care!  For those in my generation and older YOLO is short for you only live once and SHIZNIT is slang for cool, totally awesome or for sure.  I think what I really love about the phrase is the energy behind the phrase, the phrase has real attitude, it reminds me of the freedom of youth, when you have the whole world ahead of you and truly believe you can do anything you set out to do and you just do it! 

For me YOLO for SHIZNIT represents living in authenticity, life is short; you only live once so life should be lived at its most authentic existence.  The phrase represents freedom to just be, to own who you are, to embrace the good and hopefully start working on the bad or the challenging things embedded in our lives.

The problem is, that we all want community and we all want people to like us, but in searching for that community we have so buried the things that make us individuals, that truly make us special. So In business, how do you embody this philosophy of YOLO for SHIZNIT yet still be able to attract customers and do well at our jobs?

Embrace your differences

First thing is to understand that your little quirkiness, your upbringing or background, sense of humor or borderline crazy is good!  It distinguishes you from the pack and you stand out, it brings a different point of view or a fresh way of looking at things which is valuable to your client or your work environment.  So embrace your differences,  and own them, you are who you are and God made only one of you, so love who you are and who will become.

Separate from the Pack

One thing about distinguishing yourself or separating from the pack- you will rub people the wrong way, even if you are just breathing, you will irritate somebody.  The best way to deal with it is continue to do your work, keep your eye on the prize, keep improving, learning and being your best to your clients. Treat negativity as just noise and do not allow it to distract you from your goals and achieving them.

Be serious about your business

Work on your business and your job like your life depends on it.  Take it seriously, this is the way you feed and clothe yourself, and provide for your family, maybe some employees depend on the business you have built for their sustenance.   Your main job is to make sure that your business grows and thrives, because there are people depending on you.  A wise woman (actually my former boss) once told me that you can’t play friendship with your business- what that means is that business is a struggle to win every day , it’s like going back to basics of survival, you kill what you eat and therefore you cannot take the things that make you productive everyday lightly, they simply have to be done.   You have to show up every day and be productive and grow your organisation.

That’s what YoLO for Shiznit means to me.  What does it mean for you? 

Trust Fund Dreams...and Curses

Would you value a dollar that you did not earn? In my line of work I come across wealthy elderly clients, most of them who built their wealth from nothing.  They scraped and saved and sacrificed and were determined to provide for their children an easier life than they had growing up, and consequently tried to give their children everything they asked for.

This in turn has led to a generation that is highly stimulated by new experiences and technology, very easily bored, widely traveled,  seeks immediate gratification and is addicted to fun.  This generation, I should say my generation, (40 and under) believes that passion should be their guiding force through life, and if passion ceases, well then it’s time to move on.  This generation is broke but spends money as though it’s going out of style, Image is more important than it’s ever been, looking like you've made it and having a great lifestyle is more important than having the money to sustain that lifestyle,  it’s so very important to go to the newest restaurant and blog about it, or go on vacation thenrecord and share every detail on Instagram and Facebook and on and on.

In the next 30 years as baby boomers retire, the wealth that they accumulated will be transferred to my generation.  It is a scary thought, that as hard as our grandparents and parents worked to accumulate wealth, my generation may not be adequately prepared to handle a sudden influx of wealth.  We are too concerned with how we look to our peers, whether we are projecting the right image and so on and so forth.  Transferring money and assets to a generation like mine requires much planning and adequately preparing us for the responsibilities that are yet to come, otherwise things can go very wrong; a sudden windfall can be easily wasted on the newest toys or the next awesome trip or just deciding to retire because, work is a drag after all I no longer have passion for it right?

It really is not a new story, most family wealth disappears in 3 generations, and 60% of the wealth disappears in the 2^nd  generation and 90% in the 3^rd generation.

Question is how does my generation change this reality where money can become a curse instead of a blessing? How do we Invest and continue to grow our family legacies in order to pass something worthwhile to our children?

Step 1 Invest in your future

An Inheritance is an opportunity to build and grow on what your family had started.  One should have a big picture in mind of what you would like to do, how you would like to utilize the moneys and invest in the future.  Seek out professionals like financial advisers that can help you with financial products that would be beneficial to building your estate.  Do not get into anything you are not completely sure about and if you can’t think of anything put the money in a interest bearing CD or annuity (at least you while you decide what to do you will not be spending your inheritance!).  An Inheritance is also an addition to what you have going on, deciding to quit because you have always hated your job is not a good idea, try not let your emotions dictate your actions.

Step 2 Start paying down debts

The only way forward is to try and break from the shackles of the past.  Debt is a weight that needs to be dealt with.  I suggest start making arrangements to pay off some debts using a portion of the money systematically until the debts are gone.

Step 3 Have a little fun

My generation has been broke for a long time, considering the recession and massive layoffs.  A lot of folks I know moved back home with their parents and their kids just to be able to make ends meet.  For others the recession did not affect them financially but it did stress them out knowing they could be laid off at any moment.  A financial windfall takes the stress out of life; I say take a small portion (not more than 10%) of your estate and blow off some steam.  Do something that you will enjoy and make great 

memories.

Step 4 Create a legacy

Pass the gift forward.  Remember and honor the person who gave you an inheritance, remember what was important to them and try and fulfill their wishes.  Be very responsible about your gift so you can pass it on to the next generation but also do something good with what you have been given, give to a charity or a foundation and create a gift that keeps on giving.

Why Experiencing Poverty May Aid Your Success

A large number of some of the wealthiest people in the world, began their lives with extreme humble beginnings, it turns out they grew up in very difficult circumstances, some of them were so poor they barely had enough to eat and struggling to survive was an everyday reality.

I often wonder what it takes to lift yourself up, to overcome such difficult almost hopeless experiences and create huge fortunes or create such amazing success in their lives. Some great examples of Billionaires that overcame difficult circumstances in their youth include, Oprah Winfrey, Howard Schultz and David Murdoch to name a few.  It turns out, experiencing poverty as a child, or extreme difficulties early on, had a profound effect on their desire to succeed and create a something better for themselves and their families.  In addition, extreme hardship taught life lessons early on that can helped them not only succeed but excel in life.

Lesson 1: You learn early enough to make sure you survive.

One thing poverty does, it teaches you how awfully and gritty life can get, poverty can be grinding and can force you to do things you never thought you could in order to survive.  You learn to work harder than everyone else, you learn to ask for things and opportunities to make your life better, you learn to be open minded and be willing to hear out people because you never know where the next opportunity will come from.

Lesson 2: You learn to try, try and try again

If daily life is a hustle and a struggle to survive, failure can be devastating but even more devastating is failing to try again and again.  John Paul Dejoria- co creator of John Paul Mitchell Styling products and Patron Tequila was known to live in his car and drive from salon to salon selling hair products from his car getting rejection after rejection.  If he had quit after a few rejections, his future would probably been continue living in his car, his response to failure was, move on to the next salon, perfect his pitch, perfect his product.  He was always growing learning and adapting, which is one trait successful people have in common.

Lesson 3 You Learn to think outside of the box- heck there is no box

The worst thing about growing older, is that the world imposes its views on you, you learn there are rules to everything, you are told over and over “to have a successful life, you must go to school, study a specific area in college, find a job etc”.   The drawback to following rules is it becomes hard to shake up your life, hard to take any risks and try radical ideas and  hard to embrace new ways of looking at things.  They say the way to recognize if are able to  think outside of the box if someone comes up to you with an interesting new Idea that requires some personal risk, what is your first response?  Do you immediately come up with 5 reasons why the idea wouldn't work? (Ouch, I am guilty as charged) Or try to figure out 5 ways to make the Idea work?  What box are you in?

Most people who have overcome great adversity are very creative problem solvers, they are used to knocking down the boxes and creating something new; they have had to be free thinkers, to think on their feet and create opportunities for themselves. To survive, they have simply have practiced being creative longer than most, they have evolved!   

Lesson 4:  Their Instincts are sharper than most.

Going through a tough childhood and depending on nothing but toughness and street smarts, teaches you to be a great judge of character, you can spot a liar, a faker, a shifty  person a mile away; you also develop instincts on whom to trust and who to go for safety and who to flee from.  Those Instincts are very Important in the business world, making great relationships and partnerships usually begins with having a “good feeling” about someone.  A right partner can transform and elevate you business and having “dead on” instincts can save you time in vetting people you come across and evaluating whether they help your business or not.

Lesson 5: Learn to live life with healthy fears

Experiencing poverty as a child has to be a really traumatic experience, just growing up without enough to eat, or having to deal with homelessness or living through cold winters without utilities must do a number on your psyche.  Those who were fortunate enough to escape this reality and create a better life must never, ever want to experience that kind of life ever again.  The real fear those childhood memories drive them to work harder, perform better and keep striving for better lives and in the process create extraordinary legacies

Life is a complex, twisty thing, some start out with things just stacked up against them and they manage to overcome and lead extraordinary lives.  It is truly inspiring to watch and admire the determination of the human spirit.

Are there people in your life that have overcome great obstacles?  Share their story and honor them in the comment section below, I would like to hear their story.  Bless!!

Don’t Be A Wallflower; Networking For The Socially Awkward

Networking events,  I think,  are social events built for torture.  There is something forced about walking up to a complete stranger, Introducing yourself and what you do, exchanging business cards then moving on to the next stranger.  Actually most people are uncomfortable meeting people that they are not familiar with, they typically don’t know what to say,  or what to do in those settings.  Networking is however necessary when it comes to gathering social contacts and developing new relationships that might eventually open up business opportunities or help your career later on. 

For the naturally shy, awkward people, networking events can be a total nightmare; the surroundings are totally unfamiliar and usually out of their control.  Networking events can be a mixed bag, once in a while you meet some real douche bags  and usually you don’t know whether to tell them off (that would cause a scene and you would look a complete mess in front of strangers) or just grind your teeth and move on.  I remember one of my first networking events, I had practiced my elevator speech, I had my best corporate clothes on and was determined to make some good contacts, everything was going well till I walked up to this middle aged guy standing with some other middle aged guys with the same badges on their lapels (they all worked for the same company), I reached over to shake his hand armed with a smile and introduced myself and the first thing he said was, “why are you talking to me, do I know you?” .  The point, is networking is a necessary tool to building social relationships and must be done regardless of how awkward you feel.

So how do we make it easier?  The solution is to have a plan and execute the plan

First I like the kind of networking events that have a published list of attendees online.  I usually Google those people, get to know those I would be interested in talking to by looking up their backgrounds, their hobbies etc

Next be prepared to answer the question, “What do you do?’’.  So the key here is to come off smooth without sounding corny or rehearsed.  So what must you do? Rehearse!  Rehearse your answer out loud, better yet in front of a mirror until your answer sounds natural and you look confident while saying it.

Then, this may not work for everyone, but it certainly works for me.  When I get to the networking event, I usually head straight to the drinks table ok ..bar and grab a glass of wine. Note alert, I am not recommending taking shots at the bar, but a glass of wine helps me bring down the anxiety level and also allows for scanning the room discreetly and make a note of who I want to meet.

I always envy those people who can strike up a conversation with just anyone but if you do not naturally posses those skills you must find a way to connect with others.  Next step is to walk up to the person you want to meet the most, armed with knowledge about them and their interests and strike up a conversation geared specifically to their work, their company and their hobbies.  Most people enjoy the company of those they have something in common with, so what you are trying to do is seem  to have shared interests, this conversation should be easy and relaxed because most people can go on and on about their hobbies, business etc. 

Eventually your network buddy will come around to asking you what you do and action! You are on stage! Just recite what practiced, remember by now you should be buddies so, speak as though you already are.  Most likely your “monologue’ will prompt some more questions so just explain giving examples what you do, making sure you don’t talk for too long.

So far so good, next is the art of disengaging, the last thing you want to do is ruin a good connection by overstaying your welcome. Let them know you enjoyed talking to them and would like to stay connected, ask them for their business card, hand them your business card, thank them let them know you will email them and walk away.

Move on to the next person and repeat the process. After you are done meeting enough people, find the host or organizer, compliment them on the great event and would like to attend some similar so could you get on their email list?  Getting on the hosts email list, allows you attend more events and meet more people, and build your contacts list.

After the event send an email to the people you met, try and include a little bit of the conversation you had so they can remember you and add them to your network.  Occasionally send them interesting articles they might like or invite them out for coffee or lunch, the idea is to keep the conversation going  so that  you have an  insider in that company if you ever want to further explore career or business opportunities. 

Networking is manageable if you have a plan, it becomes more and more natural the more you interact with others; there are real learning and financial opportunities that come along with expanding your social circle. Hopefully this will help someone take the first step

.

I’d like to know what you think.  Please comment and subscribe below! Bless!

Advice I wish I Got While In College

Have you ever been so broke for so long that the first chance you get some decent money, you just want to blow it!  You just want to get everything you've ever wanted, the car you've always dreamed of, go to places you've read about etc.  It happens to most of us, it happened to me when I got my first decent paycheck, it happens to lottery winners even first time millionaires.

I have to admit there is something heady about spending and being able to afford it especially after being a poor college student for so long.  The average annual income for a college student is 14000 dollars and after paying living expenses and bills, there is hardly any room left for extras.

The first decent paycheck finally allows us to get extras, like a new wardrobe or a new car or finally taking that International vacation you have always wanted.  If you've been without for so long, it’s easy to go overboard and get over extended, for example I have always wanted to go to Thailand, the problem comes in when I want to go to CostaRica, Peru and Panama in the same year and actually go ahead and book those vacations just because I can afford it.

When everyone is making and having fun spending money, making sober decisions can be really difficult.  When the recession hit, the good times, became the lean times, It made me sick in the stomach after I reflected on how carelessly I had spent money on all the stuff  that seemed really important at the time, but had no value.

Sometimes when you go through a difficult financial time, you get emotionally scarred by it, for example  I have heard stories of the generation that went through the depression, they were so traumatized by those experiences , that even when they started making money again, they were terrified of losing it, that they rarely did anything extra for themselves.

I believe in making sober financial decisions and having a good quality of life that will enable me to have great experiences.  Having lots of money is no fun, if I can’t use some of it to do see some of the places I want to see and experience before I die.  The inverse is also true, having little money that I can’t experience life’s little extra’s is not something I want either so there must be a happy median where I can have my cake and eat it too.

The Happy Median

So the first solution is to have a big picture in mind and write down all the material things you would like to own for example a home, a nice car etc

Next would be to make a list of experiences that you would like to have, (some people call this a bucket list), you can really go to town on this one,  for example see the great wall of china or the grand canyon, or jump out of a plane, or go on a romantic trip to Paris or Spain, anything you really want to do.

Open a separate savings account that will enable you to have sub accounts and then allocate  a portion of your income to those sub accounts; so in our case the first sub account would be assigned to "my material goals" and the second sub account would be assigned to "my bucket list", the third sub account would be assigned to "my emergency savings".

Then, create a budget that will enable you to live below you means and allocate to your goals, bucket list and emergency fund.

Finally protect your 6 with insurance.  Get some decent health insurance and pay attention to your deductibles and co-pays, a serious illness could do a lot of damage to a carefully crafted financial plan.  Do not skim on disability insurance, disability insurance replaces a portion of your income if you experience a long-term illness or accident, and helps you pay your bills till you are able to go back to work.  Finally get some very good life insurance that you own and can pay up in 20-30 yrs while you are still young and healthy.  I would advise all college students that are planning to have a family some day to purchase some permanent life insurance when they start working; the cost of life insurance is relatively inexpensive and manageable if you get it while you are young and healthy.  Life Insurance enables you to leave a cash inheritance for your family, it helps pay the bills and make up for your lost income if you pass away in your working years or increase the size of your estate to pass on to the next generation if you are blessed with a long life.

Lastly live your life fully and without fear or anxiety.  Purchase those things you have planned for and chase those experiences that you've dreamed about once you have saved up for them.  Unrealized dreams hurt the soul and accomplishing goals and dreams help us live a memorable life. A well planned and prosperous life is possible for everyone; it just requires being Intentional about working on your goals, and keeping the big picture in mind.

Let me know what you think, please subscribe and leave a message below.  Blessings!

A Case Against Passion

My work gets me in contact with all sorts of people.  Some who are very successful financially and some who are not doing so great.  I have always wondered what is the link between life and financial success.  You always hear people say you have to be passionate about what you do and If you really love what you do, it shouldn't feel like work.  I completely disagree with these concepts and I will tell you why.

I have struggled with this concept for a while.  My problem has always been having too much passion about projects and Ideas.  I would think up these elaborate projects and Ideas and get so excited consequently all my energy would go into planning and execution.  After a while, a new concept or idea would become boring and old, or there would be so many hurdles that the results I expected would not come right away. 

What typically happened next is that I got burned out and left the project alone.  One unfinished thing turned to 2, then 3 and so on and so forth.  This trend manifests itself as unfinished projects in the workplace or hopping from career to career or do you have the one friend who is always selling you a new product or business opportunity every few months? So the problem still remains and we have to ask ourselves, how do you continue working on a project or Idea when you are no longer passionate?  The second question to address is, what do you do when work feels like a chore and feels exhausting or and not fun anymore?

Solutions

One thing I realized, when you start a project or a business or executing a great Idea, you will encounter challenges that you did not anticipate.  These challenges affect your productivity timeline and delays abound.  There is also a learning curve where mistakes can be made which affect the bottom line.

Learning curves and challenges zap your passion and all of a sudden self doubt creeps in and you start wondering whether you are doing the right thing or you start saying things to yourself like, “It shouldn’t be this hard or this is not fun anymore so it must not be right for me.” At this point is where most people quit.

Everyone has a story like this but the difference between a successful and an unsuccessful person is that a successful person pushes or are pulled through this negative self talk and get to the other side.  Challenges and learning curves are actually good because upon examination- you get to learn a lot about being increasing productivity and best practices.

The second question to address is what to do when you no longer have passion for work.

The first solution is to take all emotions about work away from the equation.  We all have to work whether we enjoy it or not to have a meaningful life.  Work is a gift, it occupies your time. It keeps you active both physically and mentally whether it’s paid in the case of a career, or unpaid in the case of stay at home moms and volunteers.

The Idea that if you love what you do, it shouldn't feel like work is ludicrous to me.  Work is work, it is not always fun but it’s still a worthwhile endeavor to pursue.  If work is no longer fun or challenging, try looking for a different position that will challenge you mentally and help you learn new skills.

Sometimes you have to suck up and endure a job you hate in order to make ends meet or provide for yourself and your family.  What good is passion if you can’t pay your bills?  Sacrificing your personal feelings for your family’s well being is heroic and special and it shows how unselfish love can be.

So to me, passion is not everything, passion is based on emotions and emotions can be fickle and temporary.  Important decisions should not be based on passion alone but based on hard facts, real data and careful consideration.

I would like to know what you think.  Please leave your comment below and best wishes.

Who You Marry Could Be The Biggest Financial Decision You Make

Michael Jordan just got married to his fiancee Yvette Prieto (35) after a 5 year courtship.  Estimates of Michael Jordan’s net worth are at 650 million.  Yvette Prieto grew up in a middle class Cuban American family in Miami.

Obviously, from the couple’s wedding pictures on US weekly, they look very happy and very in love and I wish them all the best.  I can’t help to wonder though, what a great financial move Mrs. Jordan made by marrying the almighty air up there highness.

Financial difficulties are one of the leading causes of Divorce in couples.  When considering a life partner, one major thing to consider is what your financial life will look like together.  Your finances as a couple will either improve stay the same or get worse. 

There are partners with a strong work ethic, will go to work every day, are very motivated and are strong earners, there are those partners that drain and suck life’s blood from you, with never ending problems and never seem to have any money of their own and there are those partners who fall somewhere in between.

Choosing your life partner in most cases is your biggest financial decision because their finances will affect your finances, your level of income together and what you can build or destroy together.  The couple has to make and manage financial decisions together, pay bills together, decide on how they will invest and also affect one another’s credit score and levels of debt.

Before jumping the broom and deciding who to marry, consider how you want your financial picture to look like, and assuming all other things are in place i.e. love, companionship etc decide if you can make a life with this potential life partner.

Things to consider

Openly discuss your finances together and observe their bill paying habits, If you pay your bills on time and you partner doesn’t then you are headed for some bumpy waters in the future.  Look at each other’s credit scores and discuss what plan of action to take regarding old debts or even if it’s an endeavor worth pursuing.

What’s is your partner’s work ethic like, do they seem to bounce around from job to job or have gotten fired from every job that they have ever had?  Decide if you can build a life with someone like that.  Please do not marry someone unstable financially if you are planning to depend on their income too to build a life together, it is a recipe for disaster.

How does your partner spend money?  Are they a spender or a saver?  I am a saver and I once dated a spender, he would spend all his money and the somehow figure a way to spend mine.  As a couple we were always broke,  I was always stressed out, it wasn’t pretty.  If you are a saver and you can’t stomach watching you partner spend money, then it’s a bad idea to get married and vice versa If you like to spend money and your partner never buys anything or gives you the money to spend even though they have it, it will only be a matter of time before you start resenting them.

Always make the best decision that will improve your life and pray for the rest, you will be happier that way.

Let me know what you think, please subscribe and leave a comment! Bless