Think About It Archives - Page 46 of 64

Think Longer Term

Posted on June 20, 2021

It would be great to have everything right now. No waiting or requirement for patience. However, if you think long term, you can get a lot of what you want now and have a good long term too.

It is so easy to spend money and time. It is more difficult to keep an eye on them and guard them. But it makes sense to do so. Living for today is a great and exciting way to live life. However, if you sacrifice 100% of your future to maximise today, things could get challenging later.

Although, consider the future you and how much they will thank you for being a little patient. If you do, you might do things differently. If you eat well and exercise in the present, your 40, 60 and 80 year old self will greatly appreciate it. Saving and investing 1%, 10% or 20% of your monthly income could make the retirement era you very happy indeed.

I know it takes time to set these plans in place. But, if you can do it, you’ll be better off. Both the time you have in your later years and the money comforts will be greatly appreciated by the older you.

Think longer term. Future you will be glad you did.

Observe Think About It Time

Forecast For Fun

Posted on June 15, 2021

Few things can be known for certain. We play the odds all the time. In everything we do there is risk. We forecast for fun but often our lives depend on it.

There are many words similar to forecast, such as prediction, estimate or guess. We can also foretell, prophesy or even prognosticate, even if it does sound funny to say. I cannot foretell if you will agree with me or not. However, everyone is playing the odds at every moment.

We all like a little forecasting. We hope the weather forecast is spot on when it says sunny and warm. Some folks like to place a wager on their ability to foretell the future. We do this with the stock market and sports and while in the confines of a casino.

Amongst our friends we might guess what scores we will get on an exam or how a mini series may turn out. There is no end to the amount of things we are willing to bet on. Have a flutter for some fun. Sometimes we assess the risk and other times not.

When you cross a road at 05:00 and there isn’t a car in sight, you are still taking a risk. You could trip and whack your head on the pavement. However, your odds of safely and successfully crossing are close to 99.9%. Crossing a busy road during the middle of the day may carry a similar probability but there is a greater risk of an unsuccessful cross.

Forecast for fun but remember there is a level of risk for all activities.

Financial Gratitude Think About It

Feeling Grown Up

Posted on June 13, 2021

At what point do people feel like an adult? There are many times that people say they feel 18, 23 or 28. Feeling grown up means different things to different people.

Some people feel grown up when they can drive a car on their own. Others are instilled with civic duty, so voting is their grown up moment. For others it could be travel overseas on their own, getting married, having kids, buying a property or having a senior role in a prestigious company.

There probably isn’t just one grown up moment for anyone. Different moments will elicit a range of feelings and emotions. Perhaps they build on each other until you feel you are doing grown up stuff all the time.

There can be a lot to unpack in just how people approach this term. Are you grown up because you are serious or take on a level of responsibility? Owning an impressive house can feel grown up to some. It may depend on what they say ‘grown ups’ do or what seemed to be expected for that group when they were young.

Being grown up may just be moments of taking particular responsibility for yourself, your future and others around you.

Feeling grown up can be a mental burden for some. Remember to let your hair down occasionally.

Observe Think About It Time

See Compounding In Nature

Posted on June 10, 2021

Financial compounding is sometimes considered a wonder of the world. However, you can see compounding in nature too, if you look for it.

Let’s first review the common example of a penny doubled every day for 30 days. Would you rather be patient for 30 days or have $1m today?

Being patient pays off. After 30 days of doubling, that humble penny will be worth over $5m!! This is why consistent and frequent saving and investing is important for financial freedom. In the longer run, the difference can be very large.

We see compounding effects elsewhere too. Global population growth has shown strong growth over the last 100 years. It took thousand of years to reach the first billion people on Earth (1804). The second billion took 123 years. The third billion was only 33 years after that. You get the picture.

You also see this in animals, rodents, bugs, birds etc. And think how a chicken can produce one egg per day. Get a rooster involved and you can soon have dozens of chickens laying eggs and producing more chickens And more eggs to eat. Now some people aren’t so patient and want to eat the chicken for meat on day one. And then struggle or starve after that.

Think ahead, be patient and let nature take its course. When you see compounding in nature, use it to your benefit.

Financial Observe Think About It

The Retirement Idea

Posted on June 8, 2021

Is it a myth or reality? Even if it was realistic for everyone, would everyone want to do it? The retirement idea is an interesting one.

Leaving one’s job and ceasing to work is roughly what the Oxford dictionary says it means. The ceasing to work is the bit that I find most interesting.

The idea that you do not work at all from that magical date, might be alluring for some. However, many others may find it a bit stressful not working at anything. So we have to dig at its meaning a little more.

Would it have to be no paid work or simply no working at all? What if you like your work? Many older people continue to work at their career job well after retirement age. Musicians and actors are both groups where we see some people working into their 70’s. Entrepreneurs and business owners can also be found working into their 70’s, 80’s and even 90’s.

Other people who work in occupations outside of the spotlight can also carry on working past the official retirement age.

For some, they like keeping busy. For others, they don’t have something else they would necessarily like to do. Others do it to keep some money coming in, even if they don’t really need it. Still others continue to work because the extra income helps them have the income they want or need.

The retirement idea may need a rethink.

Gratitude Health & Fitness Observe Think About It Time

The World Is Amazing

Posted on June 6, 2021

Without context this might seem a bold statement to some. However, with historical data one can see the world is amazing and getting better.

Why you might not believe this could be for many reasons. It doesn’t make it less so though. It is certainly how I see the world. There are a lot fewer bad things happening than 100, 500 or 5,000 years ago. In addition, we can see quite a few good things in this era that didn’t exist previously or weren’t as good.

With this is mind, I have been wanting to read Factfulness by Hans Rosling for several years. I received it for my birthday last week and thought I would read a few pages today to see what it was like. Wow! I am really enjoying it.

It is loaded with facts, psychology and ideas. That is my kind of book. It was so easy to read a few pages quickly as it makes sense and I already believe it so there is no convincing needed. Nor is there any rebuttal of the ideas or data as I am already on that same page. In addition, it is great to have it as a reference book with all the data, graphs and charts.

The world is amazing and it keeps on getting better. It is not perfect, and it is unlikely to ever be so. But, it is so much better than 20 years ago, let alone 200.

Action Financial Health & Fitness Think About It

We Invest in AI Not IAM

Posted on June 5, 2021

We teach machines more than humans. Some people are more interested in creating robots that learn and not children. We invest in AI not IAM. Despite the incredible progress and benefits of the AI industry, perhaps we are missing something.

Some studies I have seen suggest we need USD 36 billion to teach the rest of the children not already being taught. Meanwhile USD 73.4 billion was raised by AI startups in just the fourth quarter of 2020 alone!

We are trying to get a machine to learn and think. Investors are putting more money and intelligent resources into how to improve AI rather than in teaching children to be better.

It does seem a little odd. All those people out there who could learn and improve but few do. It is partly that they do not want to but more often they are not aware it is an option.

Sure there may be more efficiency in AI and robotics. But we have the people available. And while we are at it, could we get the curriculum to include money, financing, budgeting and self-discipline. Perhaps they could teach goal-setting and a few other life essentials.

Teach children phrases like I am amazing or I am winning.

Unfortunately, we invest in AI not IAM.

Action Financial Think About It

Provide Value To Receive Money

Posted on June 4, 2021

The economy is not rigged. The world is not run by 30 all-powerful people. Think this through folks. You need to provide value to receive money.

Now there are a lot of other things you could receive. However, the main culture around the world is to give money to those providing a valuable product or service.

The greater the perceived value for the item in question, the greater the amount of money to change hands. No one forces you at gun-point to buy your groceries from Ocado or Tesco. Neither do people force you to use Amazon to buy books, gifts or tech equipment.

However, the natural flow of things means that if you do use a certain company to fulfil your desires, it will receive your money. So, if lots of people do this, the company will receive lots of money. No conspiracy or rigged system.

If you have a problem with your money going to Amazon employees, suppliers and shareholders, then stop using their services. It really is that simple. However, you are unlikely to stop the millions of other consumers from using their service. But if they did, they would shrink out of existence like Blockbuster and Kodak.

You need to provide value to receive money. What value are you creating for others?

Action Progress Think About It Time

How To Live Intentionally

Posted on June 3, 2021

Are you on auto-pilot? Do you get through the day because of your habitual thoughts and actions? Learn how to live intentionally and you could dramatically alter the course of your life in just a few months.

Making intentional choices about what we want in, and out of, our life is our greatest power. We have the power to make choices every day. What is it that is stopping us from making the choices we want? Do you even know what you want?

This is not a question about what others need or want. Perhaps you have suppressed your own emotions and desires for so long, you can’t easily answer the question.

Start thinking about what, and who, you want in your life today. Decide what brings you joy and what doesn’t. Take a shelf in your house and really look at each item on it. Pick up each item and ask yourself, “Does this bring me joy?” If it does not, then remove it from the shelf today. Send it to a charity shop so it can find its rightful home.

If you want to keep it, be certain that this is the exact spot you want it to live in your house for now. If not, you should move it now to where it will bring you the greatest joy.

Learn how to live intentionally or you could fumble along in a fog of meh.

Action Think About It

Be For Rather Than Against

Posted on May 28, 2021

Deciding what you are for is better for everyone. It is positive and can be equally as powerful. Be for rather than against something. You will feel better and look for good reasons to support your cause.

Google used to use “Don’t be evil” as a motto. On the surface, it is a good sentiment. Most people could agree that being evil is not a great focus for your life. However, every time you say it, you bring up the word evil. Then your mind conjures up a few evil thoughts, feelings and pictures in a millisecond.

Since re-structuring the company, the parent company Alphabet, selected “Do the right thing” as its motto. This feels inherently better. It seems better to have the word ‘right’ repeating in your head rather than the word ‘evil’.

Strangely, those two phrases have a very similar meaning or intent. However, it is important to note the more positive, upbeat feel of the ‘right’ phrase.

We should strive to use these positive types of phrases in our personal and business life.

Anyone using anti-something should rethink what they are trying to do. Being anti seems to lead to anger. And from pop culture we know anger leads to hate and then to the dark side. Presumably this defeats the purpose of trying to eradicate something. You might replace it with another form of anger or evil.

Be for rather than against.