Think for Yourself

There are always gurus, elites, experts and false prophets who want to tell you what to think. Follow us and all you have to do is … Invest in Penny Stocks and make a fortune. The future is plastics. Real estate will go up forever.

History is full of Horrors - Mao’s Cultural Revolution, Hitler’s Nazi concentration camps, Leopold II of Belgium in Congo, Jozef Stalin Russian Gulags & Purges, Hideki Tojo Japan civilian deaths in WW2, Ismail Enver Ottoman cleansings, Pot Pol Cambodia and Kim Il Sung North Korea purges & concentration camps. These leaders each killed between 1.5 million to 20+ million people during their reigns.

Plenty of people will run your life if you let them. Even though am religious, history has churches, temples and mosques that advocated conquering neighbors.

The secret is to listen to everyone, then make up your own mind. Disagree with what makes you uncomfortable. Be nice, but make them defend their ideas. Try to improve their thinking as well as your own.

I read people who I disagree with. Paul Krugman comes to mind. It is not that he is not smart nor doesn’t make good points. There are many times I agree with Paul. It is my worldview does not believe central planning can control something as complicated as an economy. If anything excessive government regulations have reduced the US economy by 1 - 2% over the last two decades. Unlimited stimulus by the Fed has produced less and less economic improvements. But by reading Paul I find I have to think about my assumptions and ideas to see if they are correct.

The problem we all have Blind Spots and Confirmation Bias. We look for information that confirms what we believe, and ignore evidence we may be missing the mark.

My saving grace is if someone else has a better idea, or better combination of ideas, I give them credit and advocate the better ideas. Am smart, but we can always build better plans with small motivated groups. We can learn from everyone.

By the way you have permission to disagree with me, and tell me about it.

Good Thinking Everyone.

How the Wealthiest Got Wealthy

The US Trust conducted a survey of 700 wealthy people of all ages. How do you think they got wealthy?

Inheritance? Only 1 out of 10 inherited their wealth. 3 out of 4 wealthy people came from middle class or poor families.

Own a Business? A common way, however a good number were executives. Over half of wealthy people earned their wealth in business. Earners often believe they work harder, were disciplined, and willing to sacrifice. They typically believe building a business builds wealth. Serial business builders were common.

The third way to wealth is Investing for more than 3 out of 10. Interesting most success came from smaller gains, consistent investing, and Buy & Hold produced the biggest gains. Half of investors invested in real estate, timber and farmland. Almost all wealthy people hold 10-25% in cash for opportunities.

Values the wealthy cite for their success?

1.     Hard Work

2.     Personal Ambition

3.     Family Values

What does this mean for you?

·      Does not matter how broke you start. Start.

·      More than one way to succeed. Pick based on your strengths and learn more.

·      Be patient, and keep your eyes open for opportunities.

Why should you build wealth? Because the wealthy Give Back to charities, invest in Economic Growth, and make an Impact in society. Good goals for anyone.

http://www.ustrust.com/ust/pages/insights-on-wealth-and-worth-2016.aspx

The Athletes are Alright

Coming up to the Olympics, we heard about was Zika, water pollution, untreated waste, problems building the venues, incomplete housing, Brazil’s economy and other potential disasters.

What I see are dedicated people competing at the highest levels. Even the lowest finishers in early heat are accomplished athletes. Years of coaching, hard work and talent are on display.

Performances are out of this world. Gymnasts doing amazing flips. Divers with body control and precision. Swimmers setting best times and records. 37 year old mothers of 3 dominating their sport.

They are and should be proud participants. Honor their efforts, not just the results. 

Be inspired to work hard with your talents. You are every bit as important.

Olympic Glory

We are going to admire wonder athletes doing amazing feats in Rio. When they need it they go deeper and get the last burst of skill, creativity and energy. How do they do it?

“Skill is only developed by hours and hours of work.” - Usain Bolt, Olympic Sprinter Jamaica

"Any idiot can train himself into the ground; the trick is doing the training that makes you gradually stronger." - Keith Brantly, U.S. Olympic marathoner

"Pick one thing each year that you need to improve, and work on that. It might be improving your diet, getting more sleep, or increasing your mileage. You can't work on everything at once." - Bob Kennedy, two-time U.S. Olympian, American records 3000 meters, 2 miles and the 5000 meters

"When you try a new type of training, think like a beginner. Just because you can run 20 miles every Sunday doesn't mean you can survive 10 x 400 meters on the track at a fast pace."  - Jack Daniels, Ph.D., exercise physiologist, coach, and former world-class pentathlete

"I don't wear a watch during my long runs. That way I'm not tempted to compare my time from week to week." - Lynn Jennings, three-time World Cross-Country champion

"In training, don't be afraid to be an oddball, eccentric, or extremist. Only by daring to go against tradition can new ways of training be learned. The trick is recognizing quickly when a new approach is counterproductive." - Benji Durden, Olympic marathoner

"Day to day consistency is more important than big mileage. Then you're never shot the next day." - John Campbell, masters running star New Zealand

"Back off at the first sign of injury. Three to 5 days off is better than missing a month or two. Take regular rest days." - PattiSue Plumer, two-time U.S. Olympian

"I make sure I have some really enjoyable training runs, remembering to 'smell the roses' along the way. That way I don't become caught up in the training-is-everything syndrome." - Sue Stricklin, top masters runner

What is in common with all the messages from the stars? It is not about winning, but doing the work necessary to prepare to win. It is finding out you are better than you thought. It is listening to your body. And having fun along the way.

Enjoy and keep working. You are Building Greatness.