Think About It Archives - Page 91 of 97

Plan Ahead

Posted on July 27, 2020

It’s a good idea to look out beyond the hour, day and week. Some people plan important events years in advance. When you plan ahead, it changes your perspective on life, time and prioritisation.

Our life insurance broker rang me today. He wanted to check that I was happy with the cover we had. Was it the right amount, coverage and term (length of time)? All seemed fine.

However, it did get us running a few scenarios. How old would we be in 10, 20 and 30 years? We also needed to calculate how old the kids would be on those dates. The other point to consider was specific life moments falling in those time periods. Big events we considered were; helping with the children’s university costs, business start up costs and/or potential wedding costs.

Planning ahead does make you confront some brutal truths. In particular, it reminds you that you will either be much older one day, or the alternative. And you should consider that ‘much older’ comes with more than simply more candles on your birthday cake. Your health and wellness is likely to change somewhat.

You plan ahead for things that you want such as holidays, concerts and sporting events. So you should also plan ahead for those events that are inevitable, like ageing and the alternative.

Do it now.

Gratitude Think About It Time

I Like Hanging Out With People Like Me

Posted on July 26, 2020

It always depends on the moment and what I am interested in at the time. However, I like hanging out with people like me. It seems like a natural feeling.

When I listen to rock music, it’s more fun if I am with people who enjoy the same bands. It’s less fun if the people with me don’t enjoy the bands or music genre. And certainly it is not very enjoyable if they simply criticise it or complain about it.

When I go running, I prefer to go with people like me. I prefer to go with people who like running. And ideally they are ready to go in the early morning which is what I prefer. Additionally, it is better going with someone who runs a similar distance and pace too. Though I’m happy to be pushed to go further and faster.

Whether it’s food, sport, holidays or almost anything I can think of, I like hanging out with people like me.

And those people are oftentimes different people for each thing. This is great because they can bring other aspects into the mix too.

It’s great to get different perspectives. But when I want to enjoy myself, I like hanging out with people like me.

Financial Gratitude Think About It

Winning £1 million

Posted on July 25, 2020

It has a nice ring to it, doesn’t it? Most people would be pretty pleased with that sum of money. Winning £1 million seems to be the magic number for a lot of people.

Songs have been written about having a million dollars. People talk about how life would be different if they could just, ‘win a million’. And many people have dreamt about what they would do if they had a million dollars, pounds or euros show up in their life unexpectedly.

Although today £1 million wouldn’t put you in the exclusive group it would have in 1970, it is still an exciting amount of money to most people. Even for someone who has a net worth of £30 million (i.e. assets less liabilities), this amount would probably be warmly received. This is in part because those assets might produce £3 million in income. So an extra 33% more would likely be welcome.

What would you do if you had £1 million turn up in your bank account? Whether it was from an inheritance (long lost Auntie?), a lottery ticket or some fascinating philanthropist doing things differently.

Wouldn’t winning £1 million be an exciting thing? Would you do something exciting and novel? Or something sensible and pragmatic? Perhaps you would do a little of both.

Well, I hope you get to find out sometime soon!

Observe Progress Think About It

The Half Year Highlights

Posted on July 14, 2020

We need to keep track of our wins and celebrate them. So get out your journal, or any piece of paper, and your pen. The half year highlights need to be listed out.

We are in the midst of Q2 earnings season. This is when companies reveal how they did in the second quarter of the year (April, May, June). Granted, this year has been a little different so far. But the announcements coming out are making interesting reading, especially when comparing to Q1 2020 or Q2 in 2019.

Every quarter, corporations note down their key accomplishments and share them. You should also get into this habit. Though you do not have to share them. However, you should be honest with yourself. It is easy to make excuses, develop reasons and blame circumstances. There is no need to do that. You are better than that.

So if you have your monthly goals list, you can compare against that. If for some reason you did not set out your goals in late 2019, you can simply note down your highlights to date.

Be clear and specific. For example, I can note that I have written this daily blog every day since I started on 10th January (on target). In addition, I have had readers from 50 different countries (well above target). Finally, the family has successfully come through this initial Covid period (on target).

The half year highlights should also be celebrated 🎉. Presumably you have worked hard and been disciplined to achieve these milestones and make progress on your goals. Even if you weren’t quite on target, you will have sacrificed time and effort to get your results. Celebrate them and work harder and smarter in the next quarter.

Good luck!

Observe Think About It

Your Dominant Tribe

Posted on July 11, 2020

Have you ever found yourself torn between two groups of people? It could involve friends, family, associates or others. Your dominant tribe will usually shine through when you are in this position.

Imagine yourself walking along the road with four good friends that you haven’t seen in awhile. You are heading to a restaurant to have a fabulous, fun, dinner together.

You pass by the local concert hall on the way and notice one of your favourite bands is playing and it starts in 30 minutes. Two of your friends are super keen on the concert but the other two need to eat and head off.

Now you have many different forces tugging on you and pulling you in different directions. Will you go with the concert-goer tribe or dinner-going tribe?

There will be emotions at play as well, such as the guilt of spending time with one couple of friends instead of the other. There might also be the fear of missing out, either of a great concert or an exciting catch-up over a delicious meal.

Sometimes these moments of decision are easy and at other times they can be quite difficult. Reviewing the decision the next day can be instructive as they help you understand the forces in your life. Your deepest values tend to shine through in these moments.

Your dominant tribe is not always so obvious when core values are put to the test.

Progress Think About It

Precision Is The Key To Success

Posted on July 9, 2020

Whether you are attempting secondary school mathematics, or helping NASA prepare for a rocket launch, I believe precision is the key to success.

You don’t generally play a piano. You select specific keys and strike them with precision. Playing any key in any order while lazily hitting random keys together, is unlikely to make a great symphony.

The more precise you become with something, the greater your probability of success with it. I think people generally understand this concept. We see so many people trying to learn, practice and improve their skills. It could be at school on tests, in sports, or during their career.

The more precise you can be in speaking and communicating, the more success you are likely to find in whatever endeavour you pursue. This can be particularly true when you ask for something. Make sure you are clear about what your are asking for. The greater the precision, the more likely people will understand the request and be able to deliver on it.

I always wanted to be somebody, but I should have been more specific.
Lily Tomlin

When following instructions it is useful to follow along precisely. For some reason, people sometimes ignore the instructions or skip over several steps. I wouldn’t be so brazen. Especially if it is important.

Follow every step precisely because precision is the key to success. 🔑

Observe Think About It

What Do You Look For In Other People?

Posted on July 2, 2020

I’m not sure many people consciously consider the traits they look for in friends or associates. What do you look for in other people? Are there five or six must have items on your list? Perhaps, like many people, your friendship circle is simply a collection of people you got along with well at some point.

We tend to veer towards groups with people who have similar interests like cars, property, music, surfing or bridge. And usually people bump along meeting others in that group until they find someone who they click with.

Is there a more efficient way to go about this? Speed dating fascinates me for this reason. On the surface it seems rather cold and unromantic. But it has an undeniable efficiency. Whether you have a list of ‘must haves’ or not, people tend to know within a few minutes whether the person has ‘heck yes’ potential or not.

And, if they don’t have the potential, simply catch and release. There are other fish in the sea. Of course the sooner you find those other fish, the sooner you will find additional joy.

The tough part comes when you find someone you enjoy hanging around with but they are not good for your future. Do you have the strength and discipline to cut them loose?

Become clear on what you want in a person you spend time with. Like a holiday, job, spouse, business partner or doctor, you’re going to spend important time there/together. You might as well set some specific and high criteria.

Financial Think About It Time

Shirtsleeves To Shirtsleeves In Three Generations

Posted on July 1, 2020

Wealth. It is frequently fancied while sometimes sneered at. How do you keep it in the family? Shirtsleeves to shirtsleeves in three generations is a well known, international sentiment, with this in mind.

Historically, the first generation works hard, makes sacrifices, and ensures that the money comes in. In addition, they use it well. Because of this, the first generation can grow their wealth. Often this requires practicality and frugalness. While displaying these values, their children learn more about the ingredients to success and wealth.

Parents will sacrifice their pleasure to provide a better life for their children. During this period, the children see their parent’s effort and sacrifice. Because of this, they often choose or are directed toward more stable and higher income roles. Without having to toil and sacrifice as much as their parents, who shielded them from it, they develop more of a lifestyle led existence.

The parents often sow the seed of the family’s demise. They do not always train their children in hard work, sacrifice, sensible spending and intelligent, long term investing. Certainly the second generation seldom pass key life lessons on to their children.

The third generation, brought up with wealth and a nicer lifestyle, often have few of the key ingredients to maintain or build on the family wealth. Therefore, many times this third generation reduces the family wealth. This may be through poor investing, frivolous spending, family legal disputes or trying to live up to the family name.

You can prevent shirtsleeves to shirtsleeves in three generations. Be sure to instil in your children, and grandchildren, the concepts of hard work, sacrifice and developing an investor‘s mindset.

Action Think About It

What Makes You Decide?

Posted on June 30, 2020

We make decisions every day. There are the thousands of little decisions and the several, or dozens of, much larger decisions. But what makes you decide anything in the first place?

What is it that makes us decide that it is time to brush our teeth? Is there a trigger that helps us with the decisions around the clothes we will wear today or what we will eat for lunch?

Some decisions are instant, like to keep walking or stop. Other decisions are longer term, such as where we will book next year’s summer holiday.

Perhaps many decisions are merely strong habits. If you decide to go to bed because it is 10:00 pm, is it much of a decision if you go to bed every night at that time?

A lot of decisions are the result of measuring pleasure or pain. I might keep walking if I see an old friend up ahead (pleasure pursuit). However, if I see a car hurtling through a red light, I might stop walking across the street (pain prevention).

What makes you decide to support a political party or leader? Which internal system makes those split second decisions while driving at 70 mph?

Could it be your Emotions? Experience? Training? Conditioning? Education? Influence? Peers? Data?

Have an honest moment with yourself and consider what really are the main reasons you make many of your decisions. You may be surprised.

Gratitude Health & Fitness Think About It Time

Sometimes You Just Need A Break

Posted on June 28, 2020

Life can have moments of relative calm. It can also have periods of full speed intensity. During the crazier moments, sometimes you just need a break.

There are quite a number of things that can fill your days. For example, you might help to maintain your household, have a busy job, look after kids, be studying, be a carer, be growing a business or volunteer. Many people are trying to manage everything while doing a combination of these.

Life’s challenge is that the ‘to do’ list is always longer than the time available. So you must be careful to set some boundaries and create priorities as well as follow some cut off times. If you go non-stop too many days or weeks in a row, you may find other challenges in your life. Normally this would be your physical health and mental fortitude.

It is easier to burn out than recover from it. Occasionally we get so caught up in the cycle of doing, we don’t even realise the mental and physical toll we are having on ourselves.

Remember to schedule down time, rest time or you time. It is important to recharge your batteries. Occasionally that will mean you will not get everything on your list completed. As long as none of it is life threatening, then we should not think twice about this.

Remember, you shouldn’t push excessively for too long. Sometimes you just need a break. Make sure you schedule one in and take it. Your soul will be grateful.