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We always think about the risks involved in making a big chance in life. We consider the risks and then decide not to do it. But, the risks shouldn't scare us into inaction.
You can't achieve anything if you lock yourself up in your home. To live life to the fullest, you need to make bold moves. And this doesn't necessarily imply risk-taking.
Try to limit your po...
“It is only by being bold that you get anywhere. If you are a risk-taker, then the art is to protect the downside.”
Your most valuable resource is time. Yet, most spend their time working on other people's goals.
Use your time wisely by daily improving your skills, learning new things and building relation...
If you're in business, consider serving more than one group of customers, or focus on more than one industry.
When sales don't perform well in one area, you always have another option.
Invest in something that has an underlying value.
Limit your potential losses by diversifying. For instance, invest in an index fund, real estate, and business.
The purpose of protecting the downside is to prevent losing everything. You shouldn't put all your life energy into a single thing. This is true for your personal life too.
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“Money isn’t making that much difference in how you and I live. We’re both going down to the cafeteria for lunch and working every day and having a good time. So don’t worry about money, because it won’t make much difference in how you live.”
Banks don’t like to give away their money. That mindset is reflected in the interest rates of checking and savings accounts of 0,5% and 0.9% avg. annual interest respectively.
When you deposit your money in the bank, the bank turns around and invests that money at 7% a year or more. After they collect their profit, they give a tiny shaving of it to you.
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A few examples of how we extrapolate our exceptions all the time:
But that doesn’t mean we should follow through on every single thought that pops into our mind.
Every time you start thinking about future events or start making mental movies, keep count on a post-it note or a small piece of paper. Be aware of your thoughts. But don’t follow through.
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