Mar 29, 2020
Welcome to Finance and Fury, I’m Louis. Today, I want to talk
about overcoming fears and focusing on your purpose and making a
plan to become self-reliant – fears of the virus, or government
responses and losing jobs - and instead focusing on what can get
you through hard times – purpose and relationships – focusing on
the positives
There is a lot of fear going around – it a massive distraction
and disruption to almost everyone’s lives –
- People are losing jobs – losing an income and being out of work
is very stressful
- Governments are taking more control – population is becoming
reliant on governments
- Central banks taking further control over financial markets –
QE, money printing and funding the government deficit spending
- General panic hoarding goods and people turning on their fellow
humans – as they are competition or a threat of getting them
infected
The constant reporting creates worry – either getting the
disease, losing your livelihood, or having to fight others for the
precious resource of TP – availability bias – the framing as well –
saying the virus is something to worry about – but the Government
are the ones implementing these draconian rules – but this is in
our best interest of course
- And it seems like there is no way around it – governments
telling people and business what they can do to the extreme –
fining people and businesses for not doing as told – forcing people
into shutting their own businesses down or having to be more than
1.5m apart in public –
- Guess speeding fines weren’t enough – not fining for not
socially distancing
- But what is bad for your health – being in a reactionary state
– things happening to you – destroys cells which affect your
microbiology
- Being isolated and not able to go outside and get some Vitamin
D – creates a horrible state for humans to live
- But a very easy environment for Government’s to control –
Divide and conquer – Caesar did this to the Gaul’s
- We are easy prey when isolated – as society has become – with
this disease – now people are becoming ever more so
people get sick and die - Fact of life – people die – 210,000
every day –Government has turned this into control Stalin – one
death is a tragedy – one million is a statistic – Irony in this
statement – for those close to us – it is a tragedy to lose someone
– but we all must go through it – but when it comes to Government
reports – these deaths are just statistics – and statistics can be
manipulated – people dying of heart attacks – but they are added to
corona deaths
- Made people afraid of numbers – and focusing on the negatives –
preying on availability heuristics – but not reporting on other
numbers –
- A recent Johns Hopkins study claims more than 250,000 people in
the U.S. die every year from medical errors. Other reports claim
the numbers to be as high as 440,000.
- Medical errors are the third-leading cause of death after heart
disease and cancer
- But there are plenty of good things happening –
What to do? Become self-reliant is the only way out – the
government controls are ramping up – so have to get outside of this
– and reliance – like with Age Pension
- Irony in me saying this – to be in my profession I need to be
registered and controlled by 5 Government Agencies – ATO, ASIC,
AUSTRAC, TPB, AFCA – even with this – focusing on your purpose can
help get through their interference and focus on the positives –
and make part of your long term purpose to become FI
Purpose – to become financially independent - what does this
mean – income self-generated and not relying on the Government – To
help work out your Purpose – get the workbooks from FF – in the
members section – if in lock down – good chance to complete the
workbooks
First step - Take 100% responsibility – Don’t be a victim and
let things happen to you - To be successful you need to be 100%
responsible for your own life.
- How to start taking 100% responsibility:
- Give up all excuses – have to stop playing the victim - takes a
lot of less mental energy by giving excuses up. They don’t matter.
Past is the past.
- all the reason why you can’t and why you haven’t up until now,
and all your blaming of outside circumstances. You have to give
them all up forever.
- Change your response to events – try to make this a habit -
takes time to change.
- need to regain control over your mindset which will determine
your behaviours in responses to the event. The first question
should be “what can be done to get the best outcome?”.
- Equation: Event + Response = Outcome (Jack Canfield)
- If you get stuck in a traffic jam - ‘I hate this traffic, this
sucks’ or ‘It isn’t a big deal in the grand scheme of things’. One
will lead to a better outcome than the other by reducing your anger
at the situation. If the traffic was the problem, then everyone
would have had the same response, but as you can respond in the way
you want, you can get a better outcome.
- It is important to change your responses if your current ones
aren’t getting you the outcomes you are after. If you continue the
same behaviour (responses) then you get the same results.
- This is the process of learning through failure
- You can’t control the event, but you can control your response
which leads to a better outcome.
- Successful people wouldn’t be where they are if they let their
excuses take control
- Blaming and excuses are a waste of time. It may make you feel
better in the short term, but it doesn’t solve the problem and
takes away energy.
- Give up complaining! We are all guilty of complaining, either
voicing complaints to others or mumbling them to ourselves.
- The truth is that we complain about events that we know can
yield a better outcome than our current situation. We don’t
complain about things that just exist. For instance, we don’t
complain about gravity being gravity. To give up complaining,
change is needed in your response.
- We normally don’t though as changing a response can be
uncomfortable. People may judge you but who cares? It will take
effort but it is worth it!
- Complaining is pointless in most situations as we normally
complain to the wrong people anyway. You will complain about your
partner to your friends, about your boss to other employees. We
never talk to the person we have the issues with.
Overall, taking 100% responsibility makes life simpler. If you
accept that you have 100% responsibility, therefore control you can
become the master of your own success - the world doesn’t owe you
anything, you have to create it!
Once you are there – Figure out what your purpose is – this is
the path that will give you guidance
- It is important to find your purpose as if you don’t know what
you want, it is impossible to get it.
- ‘what is the meaning of life?’ - is no one overall meaning to
life except to exist and eventually die
- But there is a meaning to your life. You just need to find it
and live up to your potential – purpose
- you need to decide what you want and what is important. You
have to Be clear why you are here!
- Have to look at what you want – not what others want
- This is a societal norm, which is slowly changing. Most people
spend their lives conforming in to societal dreams.
- Programming in life slowly changes our real purposes to conform
to the new social norms. This leads to taking actions in life which
will get the approval of others rather than ourselves
- We are told from childhood the word ‘no’ and ‘don’t do that’.
While this was said to help protect us, it has led to crushing
dreams.
- While conformity has been important in evolution (by not
sticking out and getting ousted by the tribe), it has lead into
conforming to a normal level of life or living someone else’s
dreams.
- This is why you need a reason to get out of bed in the morning
which is your purpose. If you have this purpose, something to work
for, you will be successful and happier along the way.
- What is your purpose? – if you don’t know, to figure this out
requires a bit of brain storming.
- need to write some lists of things that are important in your
life. Use the workbook:
- I care about, What I am great at, I love doing – try to write
20 things for each: total of 60
- The more the merrier – doesn’t have to be something big, more =
more brainstorming
- beside each one put a plus or minus against it – if you really
enjoy or are great at = put a plus against it.
- something that you just put in there to make up the numbers,
put a minus sign against it.
- From those from each list – select the top 2 with plus signs
against them – put them in the below this
- This will leave you with 6 things in total.
- You might find that the things you are great at are the things
that you love doing, because you care about them!
- common to see this sort of overlap as generally, if you enjoy
doing something, you are normally pretty good at it!
- This is how you find your purpose in life. It will take some
playing around with to get right. Be honest with yourself.
- example: care: Making a difference in lives, great at: personal
finance, I enjoy doing: Teaching
- It really is that simple and needs to be refined over time, but
what is really important is action. Taking action towards your
purpose will be the difference between following your purpose
versus following someone else’s. We will cover off on the action
steps in the next episode.
Once you have your purpose, you need to know what you want out
of it: getting the vision right and start achieving it! Time to
build a vision of your ideal life - Having a purpose is the reason
to get out of bed each day.
- Having a vision, allows you to complete a picture of your ideal
life.
- A vision is an ideal picture of how you want your life to look
- Your vision should show you where you want to head and provide
some motivation and focus to help achieve this. Life happens, there
will always be setbacks but the best way of overcoming setbacks is
keeping your long-term vision in mind and working towards
this.
- So how do you build your vision? - first step is to make three
lists,
- What I want: This list is for the material things you wish to
have in your life. From houses, cars, even owning a business.
- What I want to be: This list is for the type of person you want
to be, from happy and positive to being a leader in your
field.
- What I want to achieve before I die: This list is practically a
bucket list where you can think about the things that you want to
achieve in life.
- Under each heading, you need to list 20 things for each one so
once you are done you should have 60 in total.
- hard to come up with 20 things for each, so listing small
things or expanding on larger ‘wants’ can help. So instead of just
saying ‘I want to be successful’, list out individual items which
mean success to you.
- Once you have a list of 60 things - sort through your lists and
placing each in to seven areas of your life.
- This covers off 7 areas in total. For each one you need to have
a clear picture of what each area should look like!
- Work/career – What are you doing for your career? Is it
something that you enjoy? Is it something you can have freedom? Can
you make a lot of money from it?
- Finances – What does your financial situation look like? Are
you out of debts? Do you have a portfolio of investments, paying
you an income? This is the key to financial independence after all.
You need to have enough in finances to give you all the free time
in the world to focus on everything else.
- Free time/Recreation – What do you do in your free time? Are
you going on holidays each year?
- Health/Fitness – What is your ideal fitness? Are you 80 still
in great physical and mental health?
- Relationships – Marriages, kids, parents, everyone etc.
- Contribution to the world – Do you give back to society?
- Personal goals – What do you want to do before you die? Can fit
into the previous – so merge
- Remember, that your personal vision is where you want to be –
so you need a clear picture on what it looks like, what it feels
like, you should almost be able to taste it!
My purpose – help people become financially independent – and
through doing this become FI myself
- Face your fears and anxieties so they don't become
debilitating. Identify ways to create a sense of personal control
or mastery in your life. Practice stress reduction techniques, such
as mindfulness meditation or get outside and exercise. Shift your
focus to the positive emotions in daily life
Get outside of the Fear – Don’t let Government dictate to you
what you should be afraid of – as this is a control mechanism –
done a few eps months ago on how trauma is a tool used for
population control – search trauma-based society
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