Category Archives: Fortune

The Key To Becoming Legendary

I enjoy studying legendary people who started from the bottom and whose wildest dreams have come true. I find their paths to success fascinating, and I have constantly wondered for as long as I can remember what makes one man more capable than the next. When I study the commonalities amongst greats, one trait stands out to me more than any other: mental toughness. The ability to endure mental and physical pain by passionately focusing on the ultimate goal is difficult and rare.

I wonder if these unique individuals were born with this skill or if it something they acquired. How can each one of us work to strengthen our mental toughness each day? Not dissimilar from physical training, practice and pushing ourselves enables us to go a little farther, be a little better, and accomplish a little more each day. Our tolerance for pain goes up, and what we considered impossible previously becomes the ordinary and expected.

Each day, we have the ability to focus our energy on anything we choose. Of course we have jobs, children, obligations, and responsibilities. These are unavoidable, but there are still moments in the day when we have time to ourselves. Wouldn’t training our minds to get more out of the finite energy we have be a wise investment? If we can learn to absorb the stresses and failures of life more effectively, wouldn’t this lead us to living fuller and happier lives?

This Forbes article outlines six elements of mental toughness that one can develop in order to become more mentally tough. If you’d like, try consciously implementing one or two in your day-to-day to see if it has a positive effect.

http://www.forbes.com/2010/09/17/executive-mental-toughness-leadership-managing-athletes.html

“Concentration and mental toughness are the margins of victory.”

– Bill Russell

7 Steps To Riches

Every person has ambitions and dreams. To fulfill those ambitions and realize those dreams, one must learn how to properly manage money.

The basic principles of effective money management are as follows:

1.) Save at least 10% of EVERYTHING you earn for an investment fund for the future

2.) Learn to live on 90% or less of your income

3.) Invest your accumulated capital into projects that will provide a safe, steady income, taking full advantage of compound of the interest received. “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” – Albert Einstein

4.) Invest only in areas in which you have expertise or with people who are experienced and who you can trust. Only work in your circle of competence and with people you trust.

5.) Buy your house, so you don’t waste any money on rent. Stop paying others’ mortgage and pay your own.

6.) Have a realistic insurance program. Always be prepared for disaster. Hope for the best and prepare for the worst.

7.) Always keep working at various ways and means of increasing your income. Education, education, education. Work harder on yourself than you do at your job.

Money isn’t everything, but it sure gives you freedom and the ability to do what you’d like. Building wealth allows you the freedom to do what you want, when you want. Stop thinking about how unlucky you are, and put these tried and true methods into practice to start building a nest egg. Follow the above rules, and I guarantee you that in less than 3 months, you will have a sizable surplus of capital.

Time

All men actually have this in abundance, but only a few put it to use making themselves wealthy. Instead of looking for construction, useful ways to apply the resource of time, many people fill their lives with diverse activities which simply help them to pass the time.

Study

There are two kinds of learning that are useful to anyone seeking to generate wealth – learning about specific subjects and learning how to find out what is not commonly known about any topic. Both kinds of learning are useful and valuable. There are several basic principles which apply to the acquisition of wealth.

Good Luck

Good luck comes to the person who accepts opportunity.

To attract good luck, take advantage of every opportunity that presents itself. The person of action, who is able to jump at whatever business propositions are presented, is in a stronger position to attract good luck than the type of person who sits back and waits for everything to be presented on a plate.

Paraphrased from The Richest Man in Babylon by George S. Clasen.