Archives for March 2020

Cheat Sheet Method to Boosting Memory

 

I have to remember a lot.

Tax law, financial planning rules/products, Rich Habits research …

When I am interviewed by the media or preparing for a speaking engagement, I go through a process that enables me to recall the research data, studies, brain science and habit science that I want to share with my audience.

What is that process?

I call it the Cheat Sheet Process. Here’s how it works.

Fact Binder

I maintain something called a Fact Binder. It’s a six-inch binder filled with notes and supporting documentation, broken down by the following categories:

  • Wealth/Poverty
  • Successful People
  • Brain Science
  • Rich Habits-Related Studies
  • Health/Exercise
  • Economics/Financial Planning/Tax
  • General Facts
  • Words
  • Quips/Jokes
  • Grammar
  • Quotes
  • Phrases

Cheat Sheet

For each category above, I create something I call a Cheat Sheet. For example, my Cheat Sheet for Rich Habits runs 25 pages, front and back. Those 25 pages summarize the most important things I need to remember from the nearly 300 pages of information included in that particular subject category. Those 25 pages are a sort of a condensed version of the 300 pages of info.

Before any media interview or just prior to any speaking engagement, I spend about an hour reviewing my Rich Habits Cheat Sheet.

I do the same thing, once a week, for the Economics/Financial Planning/Tax category.

Practice perfects knowledge and skills

In my Rich Habits research, I learned that wealthy, successful people engage in daily practice to maintain and perfect their knowledge and skills. In this way, they become Virtuosos in whatever it is they do.

This Cheat Sheet Process is how I Practice. It is a tool I use to help me remember important information.

Success is a process.

My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles.  No one succeeds on their own. Thank You!

The Warrior Zone – Where True Leaders and Successful Entrepreneurs Are Born

 

It’s easy to lead when things are going well. But true leaders rise like a Phoenix from the fires of adversity.

In the movie Trading Places, Lewis Winthorpe III, an old money, wealthy commodities broker, with an Ivy League education played by Dan Aykroyd, is forced to swap places with a destitute, homeless conman, played by Eddie Murphy.

This forced adversity drags Winthorpe down into the abyss of poverty and hopelessness, nearly breaking him.

Only, he does not break. In fact, he resurrects himself, outsmarting the very individuals who forced adversity upon him.

Everyone, at some point in their lives, faces adversity.

Adversity is painful. It pushes you, challenges you, tests you.

No one likes going through adversity.

In fact, it stops most people in their tracks. That’s one of the reasons why there are so few successful people – most quit as soon as they realize the path to success is through adversity.

Your true potential, however, is only revealed through adversity. Adversity forces you to a higher level – higher level of focus, higher level of knowledge, higher level of skill.

Through adversity you acquire willpower, patience, street smarts, knowledge, foresight, insight, intuition, resilience, attention to detail and mental toughness.

Adversity also exposes your innate talents. Talents you never knew you had.

Adversity toughens you up. It makes you better. It transforms you into a true warrior – fearless and unafraid.

Adversity is the progenitor of growth. Without adversity you will never grow into the person you need to be in order to be a success.

Don’t run away from adversity. Run to it. Embrace it. Adversity is you friend, not your foe. It is the beacon that shines a light on the correct path – the path towards success.

For the self-made millionaires in my Rich Habits Study, adversity did not break them. They learned to survive until they thrived and they emerged from adversity better versions of themselves.

Your inner greatness and untapped potential is released, like a Phoenix, out of the fires of adversity.

Those who face adversity may enter the warrior zone as fragile caterpillars, but they emerge as magnificent butterflies.

My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles.  No one succeeds on their own. Thank You!

Those Who Control Their Emotions Never Fall Victim to Mass Hysteria or Mass Panic

 

According to my Rich Habits research data, successful people learn to control their emotions.

In fact, they get so good at controlling their emotions, it morphs into a habit.

Any because it is a habit, these successful individuals are unaffected by the emotions, the panics and the mass hysteria that sometimes infects society.

They refuse to panic, even when everyone around them is doing so.

How are they able to control their emotions and not panic?

Inside your brain is a region called the Dorsa Lateral Pre-Frontal Cortex. This brain region possesses a unique, very powerful army of billions of brain cells called Inhibatory Neurons.

These Inhibatory Neurons function as the braking system of the brain; capable of immediately shutting down any and all emotions and impulses, bursting forth from the emotional centers of the brain – the Amygdala (fear, panic, fight or flight) and the Nucleus Accumbens (impulses).

When you have the Rich Habit of controlling your emotions, you separate yourself from the masses of individuals who allow themselves to be controlled by their base emotions.

This emotional-control Rich Habit represents a huge competitive advantage – it stops you from making poor, harmful, emotion-based decisions and it allows you to make thoughtful, logical decisions.

Do you want to be like everybody else? Or do you want to live an exceptional, successful, happy and healthy life?

The choice is yours.

Don’t be part of the emotionally-driven, panicking herd. Separate yourself from them.

You do this by taking control of your emotions. Take control of your emotions, today!

My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles.  No one succeeds on their own. Thank You!

The Devil Made Me Do It!

 

An area of the brain called the Nucleus Accumbens, part of the ancient, old brain Limbic System, is responsible for most of your problems in life.

This part of the brain is why you have habits, why you cheat on your spouse or significant other, why you gamble and why you spend money during those late-night Home Shopping Network broadcasts. It’s basically the Devil that lives inside your brain, responsible for all of your bad habits and the stupid, spontaneous impulses that get you in trouble.

The good news is that while all of us have this Devil living inside our brains, we also have a very powerful Angel, ready, willing and able to crush that Devil to smithereens.

This Angel goes by the name Dorsa Lateral Pre-Frontal Cortex, part of the newest, most evolved part of the brain, known as the Cerebral Cortex.

The Dorsa Lateral Pre-Frontal Cortex is literally our Angel, Guardian and Savior.

The Dorsa Lateral derives its great powers from a unique breed of billions of brain cells called Inhibatory Neurons. These Inhibatory Neurons function as the braking system of the brain; capable of immediately shutting down any and all impulses bursting forth from the Nucleus Accumbens.

The Dorsa Lateral gives you the power to:

  • Eliminate bad habits
  • Adopt good habits
  • Pursue LT Dreams/Goals
  • Make sacrifices for the long-term, in the pursuit of those Dreams/Goals – aka Delayed Gratification.

My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles.  No one succeeds on their own. Thank You!

Why Are Habits So Hard to Break?

 

When two or more brain cells (neurons) communicate, they physically move closer to each other. This shortens the distance neurotransmitters need to travel.

If neurons keep up their communication, they eventually form a synapse, or bond.

After forming a synapse, the Basal Ganglia (Brain’s Fuel Efficiency & Habit Manager) sends up a dendrite to monitor the communications. If the communication is daily (very frequent), the Basal Ganglia will forever mark the synapse as a “Habit”.

The neurons of synapses that are marked as “Habits” are physically closer to each other than all of the other neurons that reside inside the brain. Because of this unique close bond, it is hard to break apart this band of brothers.

There are shortcuts to habit change which fool the brain into accepting a new habit, such as Chunking or Habit Stacking. I get into these shortcuts in great detail in my book, Change Your Habits Change Your Life.

My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles.  No one succeeds on their own. Thank You!

10 Reasons Most People Will Never Become Rich

 

Reason #1 Uncertain How to Become Rich

In my five-year Rich Habits Study/Research, I learned a something profound – There are 4 very specific paths to accumulating wealth:

  1. Saver/Investor Path – Save 20% or more of your income and consistently/prudently invest those savings.
  2. Big Company Climber Path – Working for a big company and climbing the ladder until you reach the upper echelons of senior executive.
  3. Virtuoso Path – Devoting an enormous amount of time and often money to becoming either a Knowledge-based Virtuoso or a Skill-based Virtuoso.
  4. Dreamer/Entrepreneur Path – Pursuing some dream that can be monetized.

Reason #2 Too Many Bad Habits

No one’s perfect, but having too many bad, destructive habits acts like an emergency brake on success. The more bad habits you have, the harder it becomes to achieve success and build wealth.

Reason #3 Unable to Handle the Pressure

Building wealth is really, really hard.

  • Hard Work – Long hours are a prerequisite for all self-made millionaires, other than the Saver/Investor millionaires. The hard work success requires, occupies most of your time and your energy.
  • Hard Emotionally – Almost the entire journey is riddled with uncertainty, up until the moment you turn the corner and success starts to happen. Overcoming the seemingly endless parade of obstacles, mistakes and pitfalls, takes a mighty emotional toll.
  • Hard on Family – The long work hours mean less family time. It’s a sacrifice every self-made millionaire, other than the Saver/Investor millionaires, makes.
  • Hard on Friendships – Because you are devoting so many hours chasing wealth, you simply don’t have enough time to devote to maintaining friendships. Friendship needs attention in order to stay strong. Without that attention, the strings that bind friendships begin to fray.
  • Hard Stress – The success journey is a long, hard climb. You have to shoulder enormous stress. For the Corporate Climbers, the stress is not only the pressures placed on you by upper management, it’s also the stress of outmaneuvering other Climbers who are trying to climb over you. For Virtuoso, the stress is in the form of the need to deliver consistent high quality products or service. For the Dreamer/Entrepreneur, the stress can be any number of things: cash flow, lack of time, obstacles, setbacks, mistakes, a deprived family, loss of investment, and so much more.

Reason #4 Risk Averse

Almost every path to building wealth comes with risk. If you are uncomfortable taking risk, the only available path for you will be the Saver/investor Path, which has the least amount of risk but also takes the longest.

Reason #5 Impatient

Building wealth takes a long time:

·        The Saver/Investor Path takes an average of 32 years

·        The Big Company Climber Path takes an average of 21 years

·        The Virtuoso Path takes an average of 20 years

·        The Dreamer/Entrepreneur Path takes an average of 12 years

Because building wealth takes so long, you must develop the habit of patience.

Reason #6 Refuse to Change

Each one of the four paths to wealth requires making certain life changes.

·        The Saver/Investor Path requires learning how to live off of 80% of your income.

·        The Big Company Climber Path requires learning and developing executive skills that help you stand out from your competition (other Climbers).

·        The Virtuoso Path requires that you continuously grow your knowledge and/or skills until you become expert in what you do.

·        The Dreamer/Entrepreneur Path requires that you learn from your mistakes and missteps so that you don’t repeat them, which costs you time and money.

Understanding which path is right for your given personality, is the first step towards building wealth. Too many people pursue a path to wealth that is inconsistent with their personality.

For example, individuals who are risk averse, but are pursuing wealth via the Dreams/Entrepreneur Path, will eventually quit when the risks they must take become too great.

Reason #7 Relationships with the Wrong People

No one, except the Saver/Investors, succeeds on their own. It takes a team, or a big herd, to become successful. Influencers are individuals who can open the right doors because they know the right people – other Influencers. Without building strong relationships with influencers, success is impossible for all millionaires, other than the Saver/Investors.

Reason #8 Unhealthy

You can’t make money sitting in a hospital bed. Daily exercise, both aerobic and anaerobic, must be part of your success journey. Because the pursuit of wealth is such hard work, stressful and emotionally draining, you must maintain optimal fitness throughout the journey. The pursuit of success requires optimal brain function. When you are struggling with poor health, it impairs brain function.

Reason #9 Negative Mindset

The wealthy in my Rich Habits Study were fanatically optimistic and positive. Positivity is a prerequisite to building wealth because positivity boosts brain performance – specifically the Pre-Frontal Cortex, your brain’s CEO.

Positivity optimizes brain performance and allows you to see solutions and opportunities. Except for the Saver/Investors, it is impossible to become rich with a negative outlook.

When you have a negative outlook, it is akin to working with only 66% of your brain.

Reason #10 Unsupportive Spouse

One common fallout for those pursuing success and wealth is divorce. You must have a very supportive spouse – someone who shares your drive to succeed and become rich. If you don’t, eventually your marriage will suffer because building wealth takes a long time.

My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles.  No one succeeds on their own. Thank You!

Why We Dream

 

My Rich Habits research has taken me down many rabbit holes. One such rabbit hole was understanding how the brain works, in order to better understand how habits can be formed, replaced or eliminated.

During sleep, the Hippocampus and Cerebral Cortex communicate with each other thousands of times during the night in an effort to find associations, in order to create memories. This is the memory formation process – how new memories are formed and stored. When the brain finds an old, related memory (existing, related association), it links the new memory to the old memory, making the new memory stick.

As a result of this back and forth process between the Hippocampus and Cerebral Cortex, the signals these two regions send to each other trip over old, existing memories.

This “tripping up process”, inadvertently lights up the neurons attached to our old, existing memories.

Because the brain thinks in pictures, when this memory formation process trips over neurons attached to old memories, we see pictures.

We call these pictures, “Dreams”.

My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles.  No one succeeds on their own. Thank You!

How Old Habits Die

 

When two or more neurons (Brain Cells) communicate with each other, a synapse is formed. A synapse is very much like a bridge, built inside the brain, connecting various neurons to each other.

If a synapse continues firing on a daily basis, and if this synapse appears to be building more and more bridges, recruiting more and more neurons into its synapse, the Basal Ganglia (Fuel Efficiency & Habit Manager of the Brain) takes notice. It will grow a dendrite up into this growing synapse area to investigate.

If, after its investigation, the Basal Ganglia determines that the synapse is not going away, it will mark it as a Habit.

Once a synapse is marked as a habit, it stays marked as a habit, forever.

However, if for some reason an individual decides to change a habit (hard to do), over time the Habit synapse will become obsolete (unused). Because the Basal Ganglia already has a dendrite monitoring the Habit synapse, when it notices that the synapse is not longer active, it will send a message to the brain’s defense/janitorial crew, Microglial Neural Cells.

Microglial Neural Cells serve two functions withing the brain:

  1. Immune System – Microglial Cells are the brain’s second line of defense against unwelcomed intruders: viruses, bacteria or parasites that somehow are able to breach the Blood-Brain Barrier (the brain’s first line of defense). These Microglial Cells will attack the intruders, killing them and then dismantling them.
  2. Janitorial Crew – Microglial Cells disassemble existing neurons that are impaired or no longer functioning. They also disconnect synapses that are no longer being used – even if the synapse had previously been marked as a Habit by the Basal Ganglia.

So, yes, habits can be broken. And if they stay broken for a long time, Microglial Cells will eventually be called into action to dismantle the bridge infrastructure the Habit Neurons created. Goodbye habit.

My mission is to share my unique Rich Habits research in order to add value to your life and help you realize increased wealth, superior health, abundant success, fulfillment & happiness. If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles.  No one succeeds on their own. Thank You!