Taking A Long Term View in Tough Economic Times
“It is hard to maintain vitality when you are always hungry”.
– Aristotle Onassis
A question that people ask is how to follow passion for living when you are barely making a living. When things are difficult and you’re hanging on just to survive. Now the economy around the world is in turmoil. You could argue that it’s just about impossible to find passion in life, especially if you were already struggling. It’s true that it’s much more difficult to live in the present or have passion for life if you’re worried about basic human needs.
One way I approach difficulties is through mindset. I look at situations relatively. There are families in our country who are in tough situations right now. For example: a husband and wife with two kids, no savings, who are behind on their rent payments. Then the husband loses his job and they wonder how they will make it.
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Top 3 Things you can do to Help Build Wealth
Many of you want to build wealth and these are the top 3 things that I’ve used to help me in my life.
- Read good books about finance. Then think about, and find someone to discuss your ideas with. Find someone who has been successful at building wealth. Don’t listen to the talkers of big success but the doers that have really done it.
- Record your thoughts in a journal as you read. This will help you retain knowledge.
- Write down your goals along with timeframes of when you will reach them.
I love this quote: “Always have two books – one to read from and one to write in.” As mentioned in the first point, find people that are good at what you want to learn. All my life I’ve looked for mentors – people who have been successful at what I want to learn. I’ll go into this more in my next post.
The Sky is Not Falling – Mark O. Haroldsen on the Economy
“You need to stand back from the masses because the masses almost always get it wrong.”
Some might wonder if because of my lifestyle I’m somehow immune to feeling the effects of a slow economy. I’m not saying I haven’t been hurt by it, I have. I’m not immune to it. But my take is that we’re not at the bottom yet – but we’re near.
I talked to people on my trip about it. World markets are being creamed. Many are worried. Some blame the U.S. for problems with the economy, though they have made some of the same mistakes. There is no question that a person living hand to mouth is in a bad situation and this economic downturn. It scares them — and it should scare them.
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