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Willing and able to invest time in your financial planning? Try these books for a positive outlook and continued self-realization.
Books to Read
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Attitude is Everything
Keith Harrell
It was a fun read and emphasized the importance of being optimistic at all times - leading me to think about the fears of recession and the effects this creates emotionally. What if we could all learn to think optimistically through this? Then, we could change the worst case scenarios into possibilities for success, for example:
~ Job Loss creates a Strategic Career Move
Losing your job does not mean losing your self-worth. When these challenges present themselves, it's time to be an all-star athelete! Many college students start out down a career path with little experience or knowledge of what working full time will be like. Consequently, students expectations usually are left unmet as corporate structures can seem to arbitrarily guide conduct and action. If laid off - you have the chance to find a CAREER, something you love and understand, where your expectations coincide with your working environment.
~ Current Stock Market Instability creates Long-term Rewards
Contributing to a 401(k) with your company may seem risky - maybe leading you to not start funding your retirement account. However, with a longterm horizon, any amount of money put aside (especially matched by your company!) will turn into profits through the wonders of compounding interest. During the next year or two, the fluctuations in the stock market might continue, but eventually the business cycle will turn upward, and you want to be part of that economic boom! Your dollars invested in a 401(k), wisely distributed in an appropriate asset allocation with diversification, will increase as interest and dividends accumulate each year into further investment!
If you feel I am either niave or believe you would have to be lucky to come out of this in one piece, I recommend reading the book. The main take aways involve:
1. Choice - you have the choice of being a victim or to learn from it and take action!
2. Game Plan - set realistic benchmarks with specific definitions of success at each stage
3. Spiritual Empowerment - remember to have faith that something bigger than yourself is there to protect and guide you
4. Be 'Others Focused' - accept others unconditionally
5. Don't Procrastinate - Do not put off meeting the challenge tomorrow when you can fix it today!