Pessimism Can Kill You and How to Boost Optimism

tip-o-the-morning

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In November 2016, the journal BMC Public Heath, published a study conducted in Finland over an eleven year period.  The study included 2,267 men and women. 121 of those men and women, who were identified as more pessimistic than the rest of the group, had died of coronary heart disease during the study’s eleven-year period.

The study concluded that pessimists were less inclined to healthy lifestyles and that optimists were more inclined towards healthier lifestyles. The study also found that pessimism impairs your immune system, while optimism, boosts your immune system.

So, in an effort to extend your life, I’d like to share some strategies to help boost optimism:

  • Every day express gratitude for three things that went right yesterday. Gratitude is the gateway to optimism, so expressing gratitude every day acts like a force field, pushing pessimism to the side.
  • Volunteer for some noble cause a few hours every week. I have a treasure trove of studies that indicate volunteering fosters a positive mental outlook by releasing oxytocin, a feel good hormone.
  • Eat more vegetables. We have two brains – the one in our head and our Enteric Nervous System (ENS). The ENS is a complex system of about 100 million nerves found in the lining of the gut (small and large intestines). Inside this system are trillions of bacteria and other microorganisms. By eating more vegetables (and also berries, nuts, seeds, olive oil, beans, cauliflower and yogurt), you are feeding your gut with good bacteria. There are many Gut-Brain studies which show that healthy eating reduces the effects of stress, depression and pessimism by increasing the number of good bacteria inside the gut.
  • Exercise aerobically, 20 – 30 minutes every day. Aerobic exercise increases the release of endorphins, another feel good hormone. Aerobic exercise also reduces stress. Stress is the gateway to negativity and pessimism.
  • Stop Multitasking. Multitasking taxes the brain. According to a University London study, multitasking impairs brain function by sapping the brain of energy (glucose) and this has a particularly negative effect on the emotional center of the brain (amygdala).
  • Express love and compassion. This results in the release of oxytocin, a feel good hormone.

 

 

Bright Shiny Object Syndrome

 

Tom Corley boats - cropOne characteristic of self-made millionaires is their ability to focus on one thing for a very long period of time. It may be five years, ten years or twenty years. That’s a long time. It requires a long time to succeed.

Unfortunately, for most, when something does not immediately pay off, they move on to the next bright shiny object. These Bright Shiny Object Syndrome sufferers never experience success because they lack dedication.

Just the other day I saw Facebook posts of two people I know who suffer from Bright Shiny Object Syndrome. They must be on to their fourth or fifth next big thing. They were very enthusiastic about their new venture. But I know in a year or two they will have lost all interest and moved on to the next big thing. That makes me sad.

Success requires grit, determination, devotion and a significant amount of time to overcome failures, mistakes and the obstacles, all of which lead to growth. Bright Shiny Object Syndrome victims never grow enough to learn what to do and what not to do. They quit and move on when the next bright shiny object catches their eye.

If you are struggling in realizing success in your life, let me ask you this: have you stuck to pursuing success on one specific thing for more than five years? If not, that is probably why you are not achieving success in life. Most individuals shift their focus to something else when things get hard. Unsuccessful people perpetually chase the next big thing because the thing they were previously pursuing did not immediately pay off, was too hard or was just taking far longer than they expected.

Success can take a long time. Those who succeed are relentless. They devote themselves to something and stick with it for a long time. How long? Until they succeed. Never quit. Never give up on your dream. Stop chasing every new idea that comes along and stick to one thing until you achieve success or die trying. Persistence is a trademark found in all self-made millionaires.

Revenge Can Be a Great Motivator

tip-o-the-morning

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Michael Jordan is a famed basketball legend. To this day he is considered the common standard of comparison used by basketball pundits around the world. His name has entered the lexicon of everyday language: “He or she is the Michael Jordan of neurosurgery,” or ” he or she is the Michael Jordan of accountants,” or “he or she is the Michael Jordan of teachers.”

As a freshman at Laney High School, Michael Jordan was cut from their High School basketball team. For most, that would have been the end of the story. But for Michael Jordan, being cut from the team only spurred him on to become a better basketball player. He used that failure, being cut from the team, as a motivator, not as a deterrent.

The vast majority, when they fail at something, put their tail between their legs and move on to something else. Great achievers, however, use failure as a motivator. Failure inspires and motivates high achievers to improve and better themselves.

In order to achieve at the highest levels you must get comfortable with being uncomfortable. Failure and mistakes are very uncomfortable experiences. Those who excel in life are able to channel the negative emotions they experience in defeat as a catalyst to spur them on. Instead of accepting defeat, high achievers double down and work harder to prove to the world they are not failures. They use revenge to prove those who rejected them wrong. Revenge can be a great motivator.

 

You Are Just One Break Away

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“I was an overnight success all right, but 30 years is a long, long night” – Ray Kroc

One of the self-made millionaires in my study owned and operated a number of retail clothing and faux jewelry stores.  There were parts of her business she loved, such as creating new product lines or talking to customers. But that only accounted for about 20% of her time. The other 80% was grinding it out stuff – managing retail staff, accounting for income and expenses, or paying bills. She hated the grind part of her business.

In order to get her through her day, she told me that she had a mantra she kept repeating to herself for fifteen years, while she was growing her business. “I’m just one break away.”

She had a dream that one day she would catch a big break which would change her life. What that one big break was, she didn’t know. She said she just had this deep down gut feeling that if she kept working hard and was smart about running her business, one day she would get lucky and catch a big break.

Eventually that big break came along when a large competitor decided to buy her business. It was a life-changing event. Her ship did come in, after being out to sea for fifteen years.

I heard many similar stories from the self-made millionaires I interviewed. Sixty-one percent were business owners. All grinding it out day after day, year after year. All hoping that one day their hard work, financial investment and persistence would pay off with some big break. They were part of my study because their big break did come along. They kept grinding it out until they got lucky.

As an author of five books now, I can tell you I know exactly how those self-made millionaires felt. Eighty percent of the author business is a grind. Every day I have to do certain things I don’t necessarily like, such as pitching the media or editing a book or an article. I don’t like pitching the media because 99.99999999998% of the time they ignore me. And I hate editing my own writing because, well, it’s grunt work. I have to look for typos, figure out if a comma is needed or analyze my sentence structure so that I don’t come off sounding like Rocky Balboa. I just hate the grind, the 80% of the business.

But, I love that 20% – the writing. So, like the self-made millionaires in my study, I grind it out every day in order to do what I love. And like that retail self-millionaire who got lucky, I keep telling myself every day, “I’m just one break away.”

 

 

 

 

 

Frugal Spending Habits of Millionaires

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I’ve been studying the daily habits of the rich and poor since 2004. I’ve gathered an enormous amount of data on both groups and this data has been reported on by the media in 25 countries around the world.

The habits of the rich are not exactly what you might think. In my books, Rich Habits, Rich Kids, Change Your Habits Change Your Life and Rich Habits Poor Habits, I share many of the more shocking rich people habits. One of the categories I found to be eye opening was their spending habits. Below is a small sampling from my books of some of the unusual spending habits of the rich: [Read more…]

Strategies to Cut Back Your Bills

4 Tips To Shrink Your Monthly Payments

BRIEFCASE OF CASH

Short of earning a raise at work, the only way to suddenly sprout some spare cash is by reducing the amount you’re spending. Many sources advise people in their 20s and 30s to save about 20% of their income, and that percentage grows higher as retirement age grows nearer.

Chances are, if you’re looking to budget, you’ve already cut out luxuries like cable TV or a housekeeping service and have put the kibosh on frequent shopping trips. To free up even more cash to bolster your savings account, try these tips to trim back your more necessary bills. [Read more…]

The Rich Deserve to be Rich

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The other morning I was dressing for work and caught an interview on Good Morning America of E. L. James, the author of Fifty Shades of Grey. I was somewhat shocked when the host highlighted the fact that James’ book had sold 165 million books worldwide. As I pondered that thought, my shock was replaced by dismay. It dawned on me that so many people only read for entertainment and not to learn.

The rich are rich because they don’t do what the 99% do. This 1% does not read Fifty Shades of Grey. They don’t read Harry Potter either, which has sold over 450 million books worldwide. What they do read are books that educate. According to my research on the wealthy:

  • 85% read two or more books a month for education and learning purposes
  • 63% listened to educational audio books during their commute to work
  • 88% read 30 minutes or more each day for purposes of education and learning
  • 58% read biographies of famous successful people
  • 51% read history books
  • 55% read self-help books

Only 11% of the rich read for entertainment purposes compared to 79% of the poor. Billionaires like Warren Buffet, Bill Gates and Mark Zuckerberg devote many hours a day to reading for purposes of learning.

In short, the rich deserve to be rich because they put in the work that success requires. And part of that work is reading to learn. If you only read for entertainment, you are one of the 99%. If you read to learn, you are doing what the top 1% do.

Success isn’t easy. It’s a process that requires doing certain things every day that help move you forward in life towards realizing your dreams and achieving the goals behind those dreams. Part of that process requires that you read every day for at least thirty minutes solely for purposes of self-education. If you ignore part of the process, the entire process breaks down.

 

Please Vote For Me

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I am the President of The Ashley Lauren Foundation, an organization devoted to helping families survive financially when one of their children is diagnosed with cancer. It’s a volunteer position (meaning I don’t get paid) for a cause I truly believe in. They asked me to compete in a dance competition on February 25th to raise money so they can help more families. I am a terrible dancer and have no shot at winning based on my dancing skills. The only way I will win is if I am able to get more pre-event votes than the other three dancers, so I’m reaching out to you to cast a vote for yours truly.

Here is a little snippet of one of my dance practice sessions. I am dancing to the song Ice Ice Baby.

Unlike national organizations that fund research, the Ashley Lauren Foundation is a small, local New Jersey based 501(c)3 non-profit, working “hands-on” with each family.  The goal of The Ashley Lauren Foundation is to ease the journey when pediatric cancer is diagnosed by providing Direct Financial Assistance, which is their hallmark. We pay for household bills,  mortgages, car payments, medications not paid through medical insurance, traveling expenses to and from hospitals, funeral expenses, food, clothing and other household items. We also have family liaisons whose mission is to help families and their children through this harrowing process. Once a child with cancer is connected with The Ashley Lauren Foundation, the Foundation works side by side with them throughout their entire battle making their lives easier.

In order to win, I must receive the most votes. I NEED YOUR VOTES! There is no limit to the amount of votes you can buy!!  Online voting ends midnight on 2/22/17.

Go to this link http://ashleylaurenfoundation.org/ButterflyBall/dancers/  and start voting for me.

Start voting now because I WANT TO WIN but most importantly, the more money we raise, the more families we can help.

You can also cheer me on by attending the Butterfly Ball as I compete to win.  Thanks so much!!!!  

 

 

 

The Key to Financial Success – Business Ownership

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Every year the Internal Revenue Service issues a report that shares data on the top 400 taxpayers. This report focuses on those returns with the largest Adjusted Gross Income. In 2014, you needed $126.8 million to make it on their list. Here’s how the top 400 made their money:

  • 4.47% – Wages & Salaries
  • 4.24% – Interest Income
  • 10.89% Dividends
  • 16.24% – Profits from Partnerships and Corporations
  • 65.16% – Capital Gains

Most of the capital gains were the result of selling all or part of some business interest owned by the taxpayers. When you combine the last three categories, this equals 92.29%. This 92.29% is income derived from business ownership.  Owning an interest in a business, either as a stockholder, partner or sole proprietor, was the key to accumulating most of their wealth.

The odds of getting rich are stacked against those who derive their income from wages, since only 4.47% of the wealth of those in the report, became rich from their wages.

If you want to get rich, you must do what wealthy people do. They invest in businesses or create their own business. Since 80% or more of the wealthy come from poverty or the middle-class, this means you must either save enough money to invest in some business or you must create something on the side, some side business.

If you’re a great saver and want to become rich, you must take a risk with your savings by investing it in some business that will generate dividends, profits or capital gains upon the sale of your investment.

If you’re not a great saver, this means you must take a risk and invest your time and whatever money you do have in some business that will generate dividends, profits or capital gains upon it’s sale.

Either way, you must take risk in order to become rich and that risk typically involves some business investment.

 

Rich Habits Poor Habits Episode 20 | No is a Rich Habit

Time is our most valuable resource and it is a valuable resource that is given to us for free. no

Because it is free we tend to not value our time until it starts to run out.

Time becomes a valuable resource at around age 50.

This is when we realize time is running out.

In Tom Corley’s five-year Rich Habits study of 233 rich people and 128 poor people he discovered the habit of learning to say NO

Rich people, specifically self-made rich people, made a habit of saying NO to certain individuals.

In this week’s video we discuss Rich people, specifically self-made rich people, made a habit of saying NO to certain individuals.

These include:

  • Down & Out – Those who are reluctant to ask for help but truly need your help and
  • Users – Those who are continuously looking for a handout but never reciprocate and
  • Reciprocators – Those who look for opportunities to help first or repay the debt.

The Down and Out are individuals who have experienced random bad luck in life.

These are individuals who would otherwise never ask for help.

Life circumstances forced their hand.

Users are individuals who are self-centered and focused only on their needs.

They don’t value your time.

Their lives are usually a mess and they forged this nasty habit of continuously seeking favors from others.

What makes them toxic is that they never reciprocate and pay off the debt of your services.

They are like locusts and should be avoided at all costs.

Reciprocators are individuals who seek your help but, unlike the users, they value your time and feel compelled to reciprocate your kindness. mind

It’s often difficult to initially separate the Users from the Reciprocators.

This is the fool me once shame on you, fool me twice shame on me scenario.

Users will seek out your help, never reciprocate and then come back to the well over and over again until you say NO.

When you say NO, they discard you like yesterday’s trash and move on.

When you make a habit of saying NO, except to those truly in need, that is a Rich Habit, users will disappear in your life.

You can catch up with past episodes of this weekly webcast here Rich Habit, Poor Habits – Tom Corley & Michael Yardney

YOU MAY ALSO BE INTERESTED IN VIEWING:

RICH HABITS POOR HABITS EPISODE 19 | IS BEING RICH OR POOR A CHOICE?

RICH HABITS POOR HABITS EPISODE 18 | FEARLESS HABITS OF ENTREPRENEURS

RICH HABITS POOR HABITS EPISODE 17 | POOR BELIEFS PART 2

RICH HABITS POOR HABITS EPISODE 16 | POOR BELIEFS PART 1