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Turn Your Hobby Into a Side Gig

Turn Your Hobby Into a Side Gig

Do you have a hobby that you really love? Could you use a little extra cash?

What if you could get paid for doing something that you already enjoy doing? We’re all good at something. Many people have turned their hobbies into a side business as a way to earn extra money. For nearly everyone, there’s a topic they know well or a skill they have that many other people don’t have. That niche can spell opportunity – and a chance to turn something you enjoy doing anyway into a money-maker.

Depending on the type of hobby you want to monetize, your startup expenses may be quite low. For writing, coding, or graphic design, you might only need a laptop or tablet – something you may already have. If your hobby is fixing up old cars, however, you might need a place to do the work – possibly adding to the expense. For that scenario, you could check out the possibility of putting in a couple of Saturdays per month at a local shop to help save on rent and insurance costs.

With a little ingenuity, you might be able to earn $10 to $40 (or maybe more) per hour doing work you enjoy. Artists can earn extra money by selling arts and crafts items through virtual stores on specialized websites. Freelance writers, coders, designers, and even teachers can find work as well on similar type websites that bring clients and service providers together. If you have a knack for knowing what’s valuable, you may be able to turn garage sale and estate sale buys into a rewarding online business on any popular consumer-to-consumer and/or business-to-consumer sales website. (Hint: If this is something you’d like to try, start out small. Concentrate on one type of item that might be near and dear to you, like brass musical instruments, or antique mason jars.)

The old saying that asserts “knowledge is power” applies here as well. Let’s say your childhood fascination with dinosaurs never quite went extinct. Maybe there’s a successful educational blog or a YouTube channel in your future. Technology has given us the power to reach a larger audience than ever before and to bring our knowledge to anyone who wants to learn more. Sharing what you know can be monetized in many ways and – if you love doing it – you might not feel like you’re working at all!

Do your research and understand any legal or insurance requirements that may apply to the area you want to get into, but don’t let a little legwork bar the way to your next great endeavor – even if it just starts as a side gig.



The Truth About Money And Happiness

The Truth About Money And Happiness

“Money can buy you happiness.”

Well, not exactly. But money CAN help remove stressors that impact your happiness.

A new study by Penn State University revealed that happiness increases with income. On the surface, that may appear obvious.

But in fact, people who equated their self-worth with money were LESS satisfied with their lives.

So it’s not the money itself that brings happiness.

Instead, money can provide security and freedom. It helps eliminate the fear of going without, and opens up choices for how to live your life.

Think of it as a foundation for investing in the things that matter most, like…

- Your relationships - Your career - Your life mission

If you only take one thing away from this article, let it be this…

Money itself isn’t the goal. It’s a tool to help you achieve your goals.

So keep your eyes on what matters most, like your family and mission. Then, take an inventory of ways money can help you safeguard and pursue the things you value. That’s how money can help you “buy” happiness.


Matters of Age

Matters of Age

The younger you are, the less expensive your life insurance may be.

Life insurance companies are more willing to offer lower premium life insurance policies to young, healthy people who will likely not need the death benefit payout of their policy for a while. (Keep in mind that exceptions for pre-existing medical conditions or certain careers exist – think “skydiving instructor”. But in many cases, the odds are more in your favor for lower premiums than you might guess.)

At this point you might be thinking, “Well, I am young and healthy, so why do I need to add another expense into my budget for something I might not need for a long time?”

Unlike a financial goal of saving up for a downpayment on your first house, waiting for “the right moment” to get life insurance – perhaps when you feel like you’re prepared enough – is less beneficial. A huge part of that is due to getting older. As your body ages, things can start to go wrong – unexpectedly and occasionally chronically. Ask any 35-year-old who just threw out their back for the first time and is now Googling every posture-perfecting stretch and cushy mattress to prevent it from happening again.

With age-related health issues in mind, remember that the premium you pay at 22 may be very different than the premium you’ll pay at 32. The reason is simple—most people physically peak by the time their 30.¹

If you’re feeling your mortality after reading those numbers, don’t worry! You’re probably not going to go to pieces like fine china hitting a cement floor on your 30th birthday. But there is one certainty as you age: your premium will rise an average of 8-10% on each birthday.² Combine that with an issue like the sudden chronic back problems from throwing your back out that one time (one time!), and your premium will likely reflect both the age increase and a pre-existing condition.

If you experience certain types of illness or injury prior to getting life insurance, it often goes in the books as a pre-existing condition, which will cause a premium to go up. Remember: the less likely a person is going to need their life insurance payout, the lower the premium will likely be. Possible scenarios like the recurrence of cancer or a sudden inability to work due to re-injury are red flags for insurance companies because it increases the likelihood that a policyholder will need their policy’s payout.

A person’s age, unique medical history, and financial goals will all factor into the process of finding the right coverage and determining the rate. So taking advantage of your youth and good health now without bringing an age-borne illness or injury to the table could be beneficial for your journey to financial independence.


Sources:
¹ “A map of the ages when you peak at everything in life,” Digital Information World, March 16, 2021, https://www.digitalinformationworld.com/2021/03/a-map-of-ages-when-you-peak-at.html#
² “How Age Affects Life Insurance Rates,” Investopedia, June 29, 2021, https://bit.ly/2L7P0x6.


Entrepreneurship Will Change You

Entrepreneurship Will Change You

Starting your own business can be a challenge.

It will test your talents, your mental toughness, and your ability to adapt. And those tests—if you pass them—can spark extraordinary growth.

Here are four ways entrepreneurship will change you.

You’ll develop self reliance. Entrepreneurs need to learn to solve their own problems, or fail. They don’t have a team to handle the daily grind of running a business.

Instead, new entrepreneurs handle everything from product development to accounting. It’s a stressful and high stakes juggling game.

But it can teach you a critical lesson: You’re far more resourceful than you thought. You’ll learn to stop waiting for help and start looking for solutions.

You’ll discover loyal friends. One of the downsides of entrepreneurship is that it may expose toxic people in your circle. They’re the ones who might…

  • Mock your new career
  • Feel threatened by your success
  • Try to one-up you when you share struggles

As you and your business grow, you may need to limit your interactions with them. They might be too draining on your emotional resources to justify long-term relationships.

Rather, your circle should reflect values like positivity, encouragement, and inspiration. Those new friends will support you through the highs and lows of entrepreneurship.

You’ll learn how to manage stress. Late nights, hard deadlines, and high stakes are the realities for entrepreneurs.

To cope, you must build a toolkit of skills that can carry you through the hardest times. Otherwise, you may crack under the pressure and lose any progress you’ve made.

It comes down to one key question: Why do you want to be an entrepreneur?

Are you driven by insecurity? Or by vision?

If you’re trying to prove a point to yourself or others with your business, you may fall apart at the first hint of failure.

If you’re driven by vision, you’ll see failure as part of the process.

Examine your motivations. Over time, you’ll grow more aware of your insecurities. Talk about them with your friends, families, and mentors. As you bring them into the light, you may find they have less and less power.

Entrepreneurship can spark an explosion of professional personal growth. You’ll grow up. You may start with an employee mindset, but you’ll mature into a leader. That’s how entrepreneurship will change you.

P.S. If this seems daunting, start with a side hustle. It can ease you into the role of entrepreneurship without throwing you into the deep end too soon!


Read This Before You Return To The Office

Read This Before You Return To The Office

You’ve probably heard it dozens of times—everyone is ready for the return to ‘normal.’

And nothing screams normal like the office. The messy desks, the long commute, the last-minute requests from your boss, even those boring meetings—they all may appear oddly comforting after a year spent at home.

But beware. The return to normal might start off exciting, but you may find that the novelty is wearing off before too long. You might rediscover certain things about the 9-to-5 life that drag you down.

If that’s where you find yourself, mark it well. It may mean that your work location isn’t the problem—it’s the job itself.

That’s because it doesn’t matter whether you work from home or in an office if your career is being stifled by your job. A toxic work dynamic or disadvantageous model will drain you even if you’re working from a beach in the tropics!

So if you go back to the office and nothing changes, it may be time to find a new opportunity, one that offers…

  • Unlimited potential for income growth
  • Flexibility of time and location
  • Control over your success

So as you go back to the office, keep your eyes open. If you’re still dissatisfied with your job, contact me. We can explore opportunities for you to break the mold and pursue your own path.


Wealth and Relationships

Wealth and Relationships

Do you want wealth? Do you want happiness?

Having one doesn’t mean you’ll necessarily have the other. But if you want to have both, there’s strong evidence that healthy relationships can be a key investment in your earning potential AND happiness.

A Harvard study followed 100 graduates through their adult lives. The results were profound—those with strong relationships earned far more than their peers.2 In fact, there was a deeper connection between love and income than intelligence and income.

The takeaway? One of the greatest investments you can make is in the people around you. Screening out negative influences and creating warm, loving relationships can profoundly transform your potential. Don’t ignore what matters most in the name of your career or success.

That’s easier said than done. Few are ever taught what it takes to build healthy relationships, how to identify negativity in friends, or what toxic people look like.

Everyone’s situation and knowledge level is different. But for most, it’s wise to seek out a mentor. Who is someone you know who’s built happy, prosperous relationships with their family and friends? Talk to that person! Study how they see the world, how they process information, and handle conflict. It might just change your perspective and the course of your life.

¹ “What is the secret to a long and happy life? Not money, but relationships,” Claire Badenhorst, Biznews, Jun 22, 2021, https://www.biznews.com/sponsored/2021/06/22/happy-life-relationships


The Connection Between Wealth and Reading

The Connection Between Wealth and Reading

Reading is a common denominator among the wealthy.

One study revealed that 85% of self-made millionaires read 2 or more books per month.¹ That’s not a coincidence. Many of us have been told that reading improves our vocabulary and grammar skills, but there’s so much more to it than that! Reading can help develop traits that can provide an excellent foundation for a prosperous life and building wealth.

1. Reading expands your perspective. Think of it like a hack that grants you access to the wisdom of others. Instead of only drawing from your own experiences and resources, reading is an opportunity to discover fresh and challenging ideas. And the more connections you make between the ideas you read about, the more creative—and valuable—you become.

2. Reading can counteract negative emotions. Reading is good for your brain—it can reduce stress levels and prevent age-related cognitive decline.² But it goes deeper than that. It turns out that making new connections is good for your mental health. There’s evidence that reading can help combat struggles like depression.³

Why? It’s because reading can help people process difficult situations. Reading about other characters and different perspectives can help forge new mindsets and beliefs. And the more you process through difficulties, the better equipped you become to build a prosperous life.

3. Reading builds empathy. It’s no surprise that discovering other perspectives or exploring the inner lives of characters builds empathy.3 What might be surprising, however, are empathy’s benefits.

Not only does empathy lead to a richer emotional life, but it’s been shown to be critical for creating healthy—and productive—workplaces.⁴ Understanding the emotions and feelings of others makes you a more effective leader, coworker, and person.

Notice that none of these skills are directly financial—you won’t learn them in a finance or accounting course, and probably no one would pay you to read a book per month. But, as you can see, they can be critical for expanding your perspective and growing your career.

If you’re interested in reading more, start small and easy. Try reading for 15 to 30 minutes per day for a week on a topic that interests or excites you. Then slowly expand your reading time as you feel comfortable. At the end of the month, see how you feel! You might be surprised by how much your perspective has grown or shifted.

¹ “5 Common Traits of A Self-Made Millionaire,” Caden Strause, Medium, Oct 26, 2020, https://medium.com/frugal-friday/5-common-traits-of-a-self-made-millionaire-f6cf65c13c6c

² “5 ways reading benefits your health — and how to make reading a daily habit,” Lia Tabackman, Insider, Dec 1, 2020, https://www.insider.com/benefits-of-reading

³ “The Health Benefits of Books You Have to Read to Believe,” Madison Yauger, Shape, Oct 27, 2020, https://www.shape.com/lifestyle/mind-and-body/benefits-of-reading-books

⁴ “New Research Shows Why Business Leaders Struggle With Workplace Empathy,” Bryan Robinson, Forbes, May 17, 2021, https://www.forbes.com/sites/bryanrobinson/2021/05/17/new-research-shows-why-business-leaders-struggle-with-workplace-empathy/?sh=749a6d8684ad


Pro-Tips for Side Gig Beginners

Pro-Tips for Side Gig Beginners

We’ve all probably heard someone talk on social media about their “hustle” or “side gig.”

It’s in style; and it makes sense—and cents? Gigs are now just a click or tap away on most of our devices, and a little extra money never hurts! Here are a few things to consider when starting up a side hustle.

What are your side hustle goals? We typically think of a side hustle as being an easy way to score a little extra cash. But they can sometimes be gateways into bigger things. Do you have skills that you’d like to develop into a full time career? A passion that you can turn into a business? Or do you just need some serious additional income to pay down debt? These considerations can help you determine how much time and money you invest into your gig and what gigs to pursue.

What are your marketable skills? Some gigs don’t require many skills beyond a serviceable car and a driver’s license. But others can be great outlets for your hobbies and skills. Love writing? Start freelancing on your weekends. Got massive gains from hours at the gym and love the outdoors? Start doing moving jobs in your spare time. You might be surprised by the demand for your passions!

Keep it reasonable. Burnout is no joke. Some people thrive on 80 hour work weeks between jobs and side hustles, but don’t feel pressured to bite off more than you can chew. Consider how much you’re willing to commit to your gigs and don’t exceed that limit.

One great thing about side hustles is their flexibility. You choose your level of commitment, you find the work, and your success can depend on how much you put in. Consider your goals and inventory your skills to get there—and start hustling!


Evaluating the Opportunity Costs of Your Career

Evaluating the Opportunity Costs of Your Career

Have you ever had a job that didn’t inspire you?

You know, one where you felt as if all your energy was being drained from the moment you walked in until the moment they kicked you out. Maybe it was a bad boss, or just something about the industry or type of work.

This article will help you evaluate whether or not your current career path is worth pursuing by considering the opportunity cost of staying where you are versus leaving to pursue your dreams.

First off, what is opportunity cost? It’s an economic term which refers to the benefit that a person must give up in order to attain something else. Typically, it’s calculated in dollars. For instance, career A might pay you $50,000 while career B may pay only $30,000. The opportunity cost of choosing career B would be $20,000.

But here’s the catch—there are factors beyond pay that you must consider when choosing a career.

What if earning boatloads in your career requires dedicating all your waking hours to that endeavor? Are you sacrificing your joy, freedom, or even mental health just for a paycheck? The opportunity cost of your career and salary might be your joy, your freedom, your family, and your state of mind!

So when considering a job or a career, weigh ALL the costs. Will your career consume your time, distract you from your true passions, and impair your mental health, all in exchange for a fat paycheck? Or will it enrich your life, use your time wisely, and allow you to make enough money without sacrificing the joys of family and friends?


These Numbers Are Hard to Believe

These Numbers Are Hard to Believe

1.82 billion people log in to Facebook every day.¹ Apple has now sold over 2.2 billion iPhones.² Google processes 2 trillion searches every year.³

And – perhaps the most difficult to believe of them all – the world hotdog eating record stands at 75 dogs in 10 minutes.⁴ I apologize ahead, but just visualize that. Seven hotdogs down the hatch every minute.

Here’s another number that’s almost beyond comprehension: 64% of Americans have less than $10,000 in retirement savings.⁵ You read that correctly. Substantially over half of Americans will reach what should be the finish line of their careers and have almost nothing to show for it. They’ll be forced to either downsize their dreams or trade a retirement on a beach for more hours in a cubicle.

Why share these hard to believe numbers? To motivate you – at whatever age you are today – that you can start saving more right now. If you want to have a million dollars at the age of 65, how much do you need to start saving every month? That depends on your current age. If you’re 25, you’ll need to save a minimum of $158.12 per month. At 35, the amount jumps to $442.00 per month. At 45, it’s $1,317 monthly. At 55, you’ll have to save $4,882.00 per month. And at 60, you’d have to save $12,913.00 every month.

How much do you need to save to hit your goals? What’s the right financial vehicle to help you do it? Getting the answers to these questions right is absolutely critical. Don’t wait to find the answers. Contact me, and let’s get to work on a strong insurance strategy.


¹ “The Top 20 Valuable Facebook Statistics – Updated October 2020,” Dan Noyes, Zephoria, https://zephoria.com/top-15-valuable-facebook-statistics/

² “How Many iPhones Have Been Sold Worldwide? – iPhone Sales Analyzed,” Damjan Jugovic Spajic, Kammando Tech, February 11, 2020, https://kommandotech.com/statistics/how-many-iphones-have-been-sold-worldwide/#:~:text=The%20latest%20data%20shows%20that,have%20been%20sold%20so%20far.

³ “Marketing Metrics: Daily Searches on Google and Useful Search Metrics for Marketers,” Kenshoo, Feb 25, 2019, https://kenshoo.com/monday-morning-metrics-daily-searches-on-google-and-other-google-facts/#:~:text=Although%20Google%20does%20not%20share,That’s%20a%20lot%20of%20searches!

⁴ “Hall of Fame,” Nathan’s Famous, https://nathansfamous.com/hot-dog-eating-contest/hall-of-fame/

⁵ “21+ American Savings Statistics to Know in 2021,” Milan Urosevic, SpendMeNot, Mar 25, 2021, https://spendmenot.com/blog/american-savings-statistics/


How To Retire With Less

How To Retire With Less

If you had to totally trash your retirement strategy, how would you do it?

There are plenty of extravagant solutions—a gambling spree in Vegas, buying a boat, or shopping only at designer stores would probably do the trick!

But there are less obvious ways to retire with less. There are subtle misteps that may not lead to financial trainwrecks, but may still result in retiring with less. Here are a few!

Never start saving for retirement. The same is true for every undertaking. The easiest way to torpedo your music career? Never practice. It’s unwise to expect your retirement to be financially sound if you don’t start preparing and saving for it today. Starting is the most important step in your journey!

Buy a house you can’t afford. Few things will consume your cash flow and ability to build wealth more than a house that’s out of your budget. Mortgage payments, emergency repairs, and renovations can be costly even after extensive planning and saving. These expenses can scuttle your ability to build wealth if you end up becoming “house poor”.

Buy things you don’t need. Make no mistake—there’s a place for splurging and treating yourself. But there’s a point where buying more stuff simply weighs you down, both emotionally and financially. And if you’re using debt to keep shopping, you might be setting yourself up for less in retirement.

Be afraid of change. It’s incredibly difficult to pursue better opportunities if you fear change. Improving your financial situation, by definition, requires you to do something different, whether it’s spending less or changing careers. Unless you’re already on track for retirement, a fear of change can hinder your ability to reach your goals and live your dreams.

Never learn how money works. This is the easiest item on the list to avoid. Most people are never taught what their money can actually do and how to build wealth. But it can have serious consequences for your future. Not knowing how money works can prevent you from using critical tools like the Rule of 72 and the Power of Compound Interest to detect both bad deals and wealth building opportunities.

If any of these rung a bell with you, contact me. We can discuss strategies to start preparing for retirement, cut your spending, and find opportunities to increase your income!


Passive Income: How It Works

Passive Income: How It Works

What if there were a way to increase your cash flow without starting a second job, changing careers, or getting a raise?

If you’re like many, that sounds exactly like what you and your family need! Who wouldn’t want some extra money coming in? It might seem like pie in the sky, but it’s not a fantasy.

Earning a passive income is more achievable than you might realize. Read on to discover how passive incomes work, what makes them so advantageous, and common ways to create them.

In general, a passive income is cash flow that requires little to no regular effort to create and maintain.

That’s not to say that they don’t require work. But the labor involved in opening a passive income stream is normally upfront—you spend time and/or money in the beginning to set up the income stream, then sit back and reap the rewards as time goes on.

It’s an advantageous model because it can potentially free up your time—which is the most valuable resource you have.

But be warned—not all opportunities to create passive income are created equal. Here are a few proven strategies for you to consider!

Create digital products. EBooks, online courses, stock photos, and stock music are all passive income generators. They require initial time investments to create and publish, but then earn you money as users buy them over time.

Rent out property. Renting is a classic source of passive income. It requires money upfront to buy the property—and maybe time and more money for renovations. But once rent starts coming in, they’re income sources that don’t require your daily attention. (Note: Becoming a landlord may have other costs involved, like repairs or replacing old equipment or appliances.)

Build a team of sales professionals. This is the hidden gem of passive income. There’s a starting commitment of time to learn about your market and how to close sales. Then you’ll need to create a team of salespeople. Every time they make a sale, you earn a portion of the profit. Once you’ve mastered the basics, the sky’s the limit for how much passive income you can potentially earn!

If having a passive income stirs your interest, let me know. We can review your financial position, skills, and the opportunities available and see which one might work best for you!


Two Mindsets That Can Derail Your Career

Two Mindsets That Can Derail Your Career

Jobs are temporary. A career is a journey.

It represents the time and effort you spend working to master a particular field and may span multiple individual jobs.

But, as with any journey, you’ll face hazards and setbacks along the way. Here are two potentially harmful mindsets that can become roadblocks to your professional success,

Career-identity confusion. Careers are important. Excellence is important. They provide metrics to evaluate your success. But neither defines your worth as a person. It doesn’t make you a failure if a career doesn’t work out like you had imagined it would. Likewise, scoring a huge sale or landing a promotion doesn’t increase your fundamental value.

Finding your meaning and purpose gives you the resilience to withstand temporary setbacks and keep pushing forward.

Perfectionism. Perfectionism is linked with numerous mental health issues.¹ It’s no wonder why. Demanding perfection from yourself and others is a surefire way to be consistently disappointed. And when you don’t meet your own self-imposed standards, it can feel absolutely devastating and paralyzing.

Instead of pushing yourself to the breaking point and berating yourself over failures, take a moment to own up to your mistakes and then forgive yourself. Don’t let life’s hiccups define you and your life. In fact, they can be vital opportunities to learn and expand your perspective. But that wisdom is only accessible once you release the drive to be perfect.

The key to navigating a career is perspective. Perspective allows you to see what matters and what’s insignificant. Examine your motives. Why are you pursuing your career? Is it because you’re passionate about it? Because it provides for your family? Because it can make you lots of money? Once you set your eye on your higher goals and calling, it becomes much easier to avoid toxic mindsets that may threaten your career and success.


¹ “The Dangers of Perfectionism,” Andrea Brandt, Psychology Today, Apr 01, 2019, https://www.psychologytoday.com/us/blog/mindful-anger/201904/the-dangers-perfectionism


How to Make the Most of Your First Job

How to Make the Most of Your First Job

So you’ve just started your first job. Congratulations!

Whether you’re a highschool student working a cash register or a fresh-out-of-college graduate who just landed a cubicle, a first job often comes with a steep learning curve. But don’t let that weigh you down! This is your once in a lifetime opportunity to start your financial journey strong and develop skills that will last you throughout your career.

Here are two simple steps you can take to make the most of your first job.

Start saving. A first paycheck is a magical thing. It makes you feel like the hard work has finally paid off and you’re a real adult. You might just become unstoppable now that you’ve got a regular income!

But that empowerment will be fleeting if you spend everything you earn.

It’s absolutely critical that you begin saving money the moment your first paycheck arrives. This practice will go far in establishing healthy money habits that can last a lifetime. Plus, the sooner you start saving, the more time your money has to grow via compound interest. What seems like a pittance today can grow into the foundation of your future wealth if you steward it properly!

Evaluate your performance. There’s much that you can learn about yourself by studying your job performance. You’ll get an idea of strengths that you can leverage and weaknesses that you need to work on.

But most importantly, you might discover moments when you’re “in the zone”. You’ll know what that means when you feel it. Time slows down (or speeds up), you’re totally focused on the task at hand, and you’re having fun.

That feeling is like a compass. It helps point you in the direction of what you’re supposed to do with your life. Do you get in the zone when you’re working on a certain task? With a group of people? Helping others succeed? Pay close attention to when you’re feeling energized at work and delivering quality results… and when you’re not!

Above all, keep an open mind. Your first job might introduce a passion you’ll pursue for the rest of your life… or it might not. And that’s okay! Whatever it is and wherever it leads, be sure to save as much as you can and to pay attention to what you like. You’ll be better positioned both financially and personally to pursue your dreams when the time comes to make your next move!



Bouncing Back From A Pandemic?

Bouncing Back From A Pandemic?

There is no denying that COVID-19 has changed what can be considered “normal”.

We didn’t think how fragile chatting around the water cooler at work, having a meal in your favorite restaurant whenever you wanted, or going to the movies on the weekend really were. But months of shutdowns, social distancing, and required mask-wearing have made us feel it. Life is definitely different from what it was in February 2020.

And that’s where your opportunity lies.

Despite the negative ramifications, COVID-19 has created the chance you’ve been waiting for to live life on your own terms. Here’s how you bounce back from the pandemic stronger than ever and poised to pursue your dreams.

Decide Where You Want To Live. You’ve seen the headlines; people are fleeing cities like New York and Los Angeles for suburbs or even totally new states¹⁺². Those trends aren’t necessarily new, but there’s no doubt that COVID-19 has accelerated the process. And it makes sense when you think about it. Cities are convenient. People are willing to live there and often pay absurd rent because it places them near job opportunities. But months of lockdowns and surging unemployment have either shattered traditional career dreams or shown workers they can function anywhere with an internet connection. Why live somewhere expensive that you don’t like with no jobs?

But the mass urban exodus is also the opportunity of a lifetime. First, remember that you can work anywhere in the world that has an internet connection. You’re no longer tied to the eastern seaboard or California if you want a high paying job. Second, those ex-city dwellers have gotten used to services and amenities. Meeting those demands in a smaller city where property can be cheaper and taxes can be lower has huge upside potential. All you have to do is identify where you want to live and determine the opportunity level. Love mountains and fast internet? Check out Chattanooga, the “Gig City” of the south! Durham, North Carolina has a low population density paired with a huge demand for college degrees.³ And Iowa, once thought to be a cornfield disguised as a state, has a booming economy and awesome culture.⁴ The point isn’t that you should move to a remote part of the midwest and flee civilization (though that’s always an option). It’s that opportunity is more accessible than ever from anywhere in the country and is only limited by your imagination and courage. So why not investigate that small town or mid-sized city you may have never considered before? Now is the time to explore your options!

Build A Business. You’ve always wanted to build a business. And the COVID-19 pandemic has created the perfect opportunity to become an entrepreneur. Before you think it, let me just say—I know it sounds crazy. Starting a business is risky in the best of times, much less after economic shutdowns and a massive market decline. Plus, the pandemic has shot our collective anxiety levels through the roof!⁵ It can feel like there are uncountable roadblocks between you and pursuing your dream of being a business owner.

That’s why you have to be strategic about what type of business you start. Remember, the key to making money is problem solving. The larger the problem you solve, the more money you can potentially make. You probably won’t have to think too long and hard to come up with a list of ways you can help people for a dollar. Real estate agents, for instance, are helping families relocate outside the big city. Food delivery services are helping people stranded at home satisfy their pizza cravings. Do some research into a problem you’re passionate about solving and try some brainstorming for solutions. And because of the economic climate, you might be one of the few people taking action to fix things instead of living in fear!

In short, there’s opportunity hidden in this pandemic. You can bounce back from this season of COVID-19 in a place you love with a business you’re passionate about. If you’re interested in starting a business, let me know! We can talk about some big problems that are facing Americans and how you can help solve them.

¹ Matthew Haag, “New Yorkers Are Fleeing to the Suburbs: ‘The Demand Is Insane,’” The New York Times, Aug 30, 2020, https://www.nytimes.com/2020/08/30/nyregion/nyc-suburbs-housing-demand.html

² Sally Lockwood, “‘The city has become unbearable’: Why are so many people leaving Los Angeles?,” Sky News, Sept 14, 2020, https://news.sky.com/story/the-city-has-become-unbearable-why-are-so-many-people-leaving-los-angeles-12070183

³ Madison Hoff, “20 US cities with great jobs and smaller crowds that could bounce back quickly after the coronavirus pandemic,” Business Insider, May 16, 2020, https://www.businessinsider.com/cities-that-could-bounce-back-from-coronavirus-2020-5

⁴ Winona Dimeo-Ediger, “Why is everyone moving back to Iowa?,” MarketWatch, March 19, 2019, https://www.marketwatch.com/story/why-is-everyone-moving-back-to-iowa-2019-03-18

⁵ Alexa Lardieri, “Coronavirus Pandemic Causing Anxiety, Depression in Americans, CDC Finds,” U.S. News & World Report, Aug 13, 2020, https://www.usnews.com/news/health-news/articles/2020-08-13/coronavirus-pandemic-causing-anxiety-depression-in-americans-cdc-finds


Learn Skills Fast

Learn Skills Fast

Mastering a skill takes time, effort, and sometimes money.

Hours of dedicated learning, training, and mentorship are required to move from amateur to expert. But who has the time for that? Most of us are still figuring out our careers or how to be a better parent or partner. With our busy lives, acquiring an additional skill—no matter how beneficial or fulfilling it may be—can seem like a fantasy.

But what if there were a way to quickly become competent at a skill?

It turns out that there are some simple steps you can take to jumpstart your learning process. Here are some tips for quick skill acquisition!

Work backwards. Skills are typically composed of smaller processes. For instance, playing a song on piano requires a few different abilities. You must be able to move each finger to the right keys at the right time, you should probably know how to read music, and possess a sense of when to play more loudly or softly. Trying to play a song without some command of those capabilities can feel overwhelming or impossible!

That’s why it’s useful to start with the end product and work backwards to discover the little skills you need to master. Once you see the micro-processes involved, you can start working forward. This might feel silly at first. Jumping between the same few notes over and over again until you’ve got them down isn’t the most glamorous endeavor! But it lays the foundation for a more complicated and satisfying skill that will pay off in the long run.

Expect roadblocks. It’s easy to think making progress will be a straight line. We’re building up our little skills, getting better and better with each practice session. But pretty soon we hit a wall. There’s a problem that seems we can’t overcome. We might even start backsliding or feeling like we’re getting worse!

Don’t sweat a roadblock. It’s perfectly normal to hit a plateau when you’re trying to acquire a skill. Take a break from practice, go for a walk or take a nap, and get back to it with a fresh perspective. You might be surprised by how much learning occurs when you allow your brain to relax and process.

Don’t multitask. As nice as it sounds, multitasking simply does not work. There’s overwhelming evidence that it actually slows down your brain and wildly reduces efficiency.(1) Multitasking must be avoided at all costs when you’re trying to quickly learn a new skill. Try setting aside some undistracted time every morning or evening for a few weeks to work on your skill. That means leaving your phone in another room, turning off the TV, and telling your family that you’ll be busy for a while. Get in the zone and start practicing!

An hour every evening for a month won’t transform you into a Picasso. You’re not shooting to be a virtuoso. Instead, these tips and strategies may help you quickly acquire competence in just about anything you set your mind to. So draw up a list of some skills you want to develop and start learning!

Sources:

(1) https://www.apa.org/research/action/multitask


What You See Is What You Get: The Power Of Visualization

What You See Is What You Get: The Power Of Visualization

Imagination is underrated.

We live in a world of dollars and cents, ones and zeros, and cold, hard facts. Dreams and hopes are great, but results will always be our number one priority.

But what if your imagination mattered?

What if your mind’s eye actually held the key to success? There’s strong evidence that actually visualizing certain outcomes can reduce stress and empower you to achieve your goals and dreams. It might sound like voodoo, but it’s actually not! Here’s how it works.

Mind and Muscle <br> Your brain is connected to your body. Your brain registers things that happen to your arms and legs and ears and lets you know if they’re good or bad. A soft blanket? Good! Stubbing your toe? Bad!

But the connection between your brain and body goes both ways. Imagining an action in your mind can actually improve your performance in real life. There’s plenty of anecdotal evidence for this; legends like Arnold Schwarzenegger and Muhammad Ali were big believers in imagining specific outcomes.(1&2) But there’s also research to back it up. People who imagined exercising certain muscles gained almost as much strength as people who physically exercised!(3)

Visualization can also reduce stress. Studies have found that novice surgeons and police officers who receive imagery training feel less stress and have less objective stress.(4)

Some visualization tips <br> Imagining yourself on a generic island paradise in 15 years is just daydreaming. The key to effective visualization is specificity. Be as precise as possible. Break down how you’ll achieve your goal or throw that game-winning pass into as many tiny movements as possible, and imagine how you’ll execute each one. Incorporate your senses; what will you smell and hear when you finally achieve that goal?

Verbal affirmations can also help with this visualization process. Take a page from Muhammad Ali, and tell yourself that you’re the greatest every morning before you get breakfast! Even better, say your goal out loud before you go to bed or eat lunch. Writing up a mission statement that you read daily or making a vision board of images that inspire you are also ways to boost your visualization!

Just remember that one of the key strengths of visualization is that you can do it anywhere. Develop your goals, make them as specific as possible, and then start imagining!

(1) https://www.forbes.com/sites/lidijaglobokar/2020/03/05/the-power-of-visualization-and-how-to-use-it/#12e463d66497

(2) https://www.psychologytoday.com/us/blog/flourish/200912/seeing-is-believing-the-power-visualization

(3) https://www.psychologytoday.com/us/blog/flourish/200912/seeing-is-believing-the-power-visualization

(4) https://www.forbes.com/sites/lidijaglobokar/2020/03/05/the-power-of-visualization-and-how-to-use-it/#12e463d66497


Tips For New Graduates

Tips For New Graduates

Graduating from college is a huge transition.

It’s the end of nearly two decades of classrooms, tests, essays, late nights, and early mornings, but it’s the start of your full-fledged independence.

That move isn’t always easy. We face a huge number of unknowns when we leave the hallowed halls of the university and enter the dog-eat-dog “real world.” What kind of job will I end up with? Where will I live? What will my coworkers be like? How well will I adjust to a totally new routine? Those are important questions that don’t always have clear answers. However, there are some things you can do that will help navigate your post-graduation world. These aren’t magic antidotes, just helpful steps that might bring some stability and order to your experience!

Create a vision <br> Having a career vision is essential. It can provide structure and a sense of purpose. Decisions can be weighed by how much they move you towards realizing your goals, which can help give you clarity when making tough calls.

Keep your vision as specific and precise as possible. That dream of working at a prestigious law firm and wearing designer suits every day? Take it and drill down on the details. What kind of law do you want to practice? What’s your dream city? How high up on the ladder do you want to climb? Be honest with yourself about what you really want.

It’s also important to develop a time frame for your goals. Think about a 5 to 10 year time frame and see what you think is realistic!

Map out your path <br> Now it’s time to map out how you’ll make your vision a reality. What needs to happen for you to get that promotion or end up in the city you want to experience?

The first step is research. Your dream position might require a master’s degree or special licensing that you can’t afford just yet. Maybe you need some time in the field before moving up. Break down exactly what needs to happen, and when, for you to achieve your goal. Sometimes it’s best to start with the goal itself and deconstruct it into smaller and smaller pieces that are easier to manage. Start checking off those little steps until your goal looks more and more achievable!

It’s also a good idea to find a mentor to guide you. Ideally this would be someone who’s undertaken this journey themselves! They’ll have insights into roadblocks that you’ll face and little tips that can make all the difference.

Maximize positivity <br> No plan is perfect. We’ll always overlook a detail, not factor in a risk, or overestimate our ability to handle something. It’s easy to get discouraged when those things go wrong. It can make your dream feel unattainable, and you might start to doubt yourself. But rolling with those punches and not getting discouraged by setbacks is essential to achieving your goal. Take a step back, assess the situation, learn from your mistakes, and get back to the grind. You might have to adjust your expectations and even re-evaluate your process. That’s fine! Do what you need to do and get back to work once you’ve hammered out the details.

Remember that flexibility is key. Your passion for a certain type of work or field of study might cool off as the years go by. You might find that your goal of becoming an alpha executive conflicts with your goal of being an available parent. Don’t push those hard decisions off until tomorrow. Do some serious soul searching about what matters to you today, make some goals, figure out a process, and don’t let little failures get you down!


So You’ve Graduated...Now What?

So You’ve Graduated...Now What?

Graduating from college is a big deal.

It represents a transition from student to adult for millions of people. But leaving university and joining the workforce can be intimidating. Looking for a job, paying bills, commuting, and living independently are often uncharted territory for recent grads.

Here are a few tips for fresh graduates trying to get on their feet financially.

Figure out what you want <br> It’s one thing to leave college with an idea of what career you want to pursue. It’s something else entirely to ask yourself what kind of life you want. It’s one of those big issues that can be difficult even to wrap your head around!

However, it’s something that’s important to grapple with. It will help you answer questions like “What kind of lifestyle do I want to live” and “how much will it cost to do the things I want?” You might even find that you don’t really need some of the things that you thought were necessities, and that happiness comes from places you might not have expected.

Come up with a budget <br> Let’s say you’ve got a ballpark idea of your financial and lifestyle goals. It’s time to come up with a strategy. There are plenty of resources on starting a budget on this blog and the internet on the whole, but the barebones of budgeting are pretty simple. First, figure out how much you make, how much you have to spend, how much you actually spend, then subtract your total spending from how much you make. Get a positive number? Awesome! Use that leftover cash to start saving for retirement (it’s never too early!) or build up an emergency fund. Negative number? Look for places in your unnecessary spending to cut back and maybe consider a side hustle to make more money.

Looking at your spending habits can be difficult. But owning up to mistakes you might be making and coming up with a solid strategy can be far easier than the agony that spending blindly may bring. That’s why starting a budget is a post-graduation must!

Meet with a financial professional <br> Find a qualified and licensed financial professional and schedule an appointment. Don’t let the idea of meeting with a professional intimidate you. Afterall, you trust your health, car, and legal representation to properly trained experts. Why wouldn’t you do the same with your financial future?

Being scared of starting a new chapter of life is natural. There are a lot of new experiences and unknowns to deal with that come along with leaving the familiarity of college. But the best way to overcome fear is to face it head on. These tips are a great way to start taking control of your future!

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Putting a Wrap On the Sandwich Generation

Putting a Wrap On the Sandwich Generation

Ever heard of the “Sandwich Generation”?

Unfortunately, it’s not a group of financially secure, middle-aged foodies whose most important mission is hanging out in the kitchens of their paid-off homes, brainstorming ideas about how to make the perfect sandwich. The Sandwich Generation refers to adults who find themselves in the position of financially supporting their grown children and their own parents, all while trying to save for their futures. They’re “sandwiched” between caring for both the older generation and the younger generation.

Can you relate to this? Do you feel like a PB&J that was forgotten at the bottom of a 2nd grader’s backpack?

If you feel like a sandwich, here are 3 tips to help put a wrap on that:

1. Have a plan. In an airplane, the flight attendants instruct us to put on our own oxygen mask before helping someone else put on theirs – this means before anyone, even your children or your elderly parents. Put your own mask on first. This practice is designed to help keep you and everyone else safe. Imagine if half the plane passed out from lack of oxygen because everyone neglected themselves while trying to help other people. When it comes to potentially having to support your kids and your parents, a tailored financial strategy that includes life insurance and contributing to a retirement fund will help you get your own affairs in order first, so that you can help care for your loved ones next.

2. Increase your income. For that sandwich, does it feel like there’s never enough mayonnaise? You’re always trying to scrape that last little bit from the jar. Increasing your income would help stock your pantry (figuratively, and also literally) with an extra jar or two. Options for a 2nd career are everywhere, and many entrepreneurial opportunities let you set your own hours and pace. Working part-time as your own boss while helping to get out of the proverbial panini press? Go for it!

3. Start dreaming again. You may have been in survival mode for so long that you’ve forgotten you once had dreams. What would you love to do for yourself or your family when you have the time and money? Take that vacation to Europe? Build that addition on to the house? Own that luxury car you’ve always wanted? Maybe you’d like to have enough leftover to help others pursue their goals.

It’s never too late to get the ball rolling on any of these steps. When you’re ready, feel free to give me a call. We can work together to quickly prioritize how you can start feeling less like baloney and more like a Monte Cristo.


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