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Seven Things Warren Buffett Can Teach You About Living a Good Life

Seven Things Warren Buffett Can Teach You About Living a Good Life

by | Sep 3, 2020 | Mindset, Value investing

When Warren Buffett speaks, people listen.

He is, after all, one of the best investors the world has ever seen.

His quotes on investing are famous. 

But what does he say about living a good life?

I believe you become a better investor by copying more than just his investing techniques. You’ll benefit from following his wisdom and life skills as well.

Why is that? You won’t have much success as an investor if the rest of your life is a mess, because you won’t be able to focus. 

Apart from being an excellent investor, Warren Buffett is a wise man with nine decades of experience, and yes, he does have an opinion about how to live a good life.

I’ve collected seven of his most important snippets of wisdom that relate broadly to living life and not just to investing and making money. These seven pearls of wisdom have made an impact on my life.

Who knows…maybe they’ll change yours too. 

1. Choose Friends You Like and Admire

“Make some good friends, keep them for the rest of your life, but have them be people that you admire as well as like.”

This is the most important piece of advice Warren Buffett has given the Microsoft founder Bill Gates. They have been friends for around 25 years, and you might be surprised that it’s this piece of advice that Bill Gates highlighted when Warren Buffett turned 90, because at first glance it seems a bit trivial for such brilliant minds.

But before your eyes glaze over this, do yourself a favor: think a moment about who your friends are and where you know them from.

Some you might know from school.

Some lived in your neighbourhood.

Some you know from university.

Some of them were friends of friends or colleagues.

You’ve probably chosen most of your friends because they happened to be there.

Do you admire them? Do you really like them?

Think about them one after the other.

This little piece of advice to choose friends you like and admire is important, and if you think about it, it’s also quite different from how most people go about friendship.

When I did this little exercise, I discovered to my own horror that I have some friends who I would consider unkind, and even some friends who display behaviour I can’t approve of.

I just didn’t really think that someone else’s behaviour was my problem. But it is. 

“You will move in the direction of the people that you associate with. So it’s important to associate with people that are better than yourself. The friends you have will form you as you go through life,” Warren Buffett told Bill Gates. 

If this is true about friendship, imagine what he says about marriage… 

2. Marry the Right Person 

Marrying the right person will be the single most important decision you make in your life, Warren Buffett says.

It’ll determine your destiny.

Warren Buffett’s first wife was Susan Buffett, with whom he had three children and a marriage lasting three decades.

Today he is married to Astrid Menk, to whom Susan introduced him before she decided to move to California to pursue a singing career.

Warren and his first wife remained married and friendly until she died in 2004 …despite the fact that they both had separate partners.

Before his first wife, Warren Buffett dated a woman who was an emotional whirlwind. She later married one of Buffett’s friends – a marriage that ended bitterly.

If Warren Buffett had married a person less kind and stable than Susan Buffet, if he had entered into decades of marital struggles, would he have been able to make the impact that he has? Would he have been able to focus?

“Marry the right person. I’m serious about that. It will make more difference in your life. It will change your aspirations, all kinds of things,” he said at Berkshire’s annual meeting in 2009.

3. Protect Your Reputation 

Warren Buffett is all about avoiding losses and investing conscientiously.

Apparently, that’s also what he values in other spheres of his life. 

“It takes twenty years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently,” he says. 

His investing style is about considering data and avoiding rash decisions and emotional investing.

When it comes to living a good life, his style is similar.

He’ll extend himself far to avoid letting anger destroy his reputation or important relationships. 

4. “You Can Always Tell Someone to Go to Hell Tomorrow”

This is something ABC Inc.’s CEO Tom Murphy told him more than 40 years ago, and according to Warren Buffett himself, it’s been one of the best pieces of advice he has received during his career.

“It’s such an easy way of putting it. You haven’t missed the opportunity. Just forget about it for a day. If you feel the same way tomorrow, tell them then — but don’t spout off in a moment of anger!” he has said in the book Getting There: A Book of Mentors. 

Don’t risk all your wins on an emotional spur-of-the-moment. Just wait. Postpone your anger.

Whenever I find myself getting caught up in an emotion, I’ll take a deep breath and say “Mañana”. 

5. Follow Your Inner Scorecard 

“The big question about how people behave is whether they follow an inner scorecard or an outer scorecard,” Buffett has famously said. 

What’s the difference?

If you follow an outer scorecard, you measure your success in things outside of your control, such as other people’s actions and opinions.

This could be striving for winning a prize, getting on the cover of a magazine, getting a raise or promotion – or even getting enough likes on social media.

Inner scorecard is about measuring your success by how you think you’ve done. Do you think you did a good job?

Can you be happy about it even if the boss doesn’t notice it?

I already navigated by an inner scorecard in my previous career as a journalist when I decided to stop worrying about front pages and nominations for awards and focus on the content of my news articles and the problems I helped disclose or solve. That was a reward in itself. 

6. Go to Bed Smarter Than When You Woke Up 

Learn something every single day. 

Warren Buffett reads about 500 pages a day. He says he spends 80 percent of his workday reading.

Why?

He says knowledge is compounding.

“That’s how knowledge works. It builds up, like compound interest.”

I couldn’t agree more.

Maybe 500 pages doesn’t fit your lifestyle with a full-time job and kids.

Then make it 10 pages or 20 pages. But learn and study something every day. Consistency is key. 

    7. Invest in Yourself

    Warren Buffett has framed a 100-dollar Dale Carnegie certificate in public speaking which hangs in his office.

    He calls the course one of the best investments he’s made in his life.

    He was afraid of speaking in front of people before taking the course. This is something you don’t notice today at all when he goes in front of big crowds or on TV. 

    If you lack knowledge in a certain area, go get the knowledge. Improve, train, get better. Get a good teacher. 

    There are only so many things you can learn from books. Courses – online or offline – will get you to the next level.

    “By far the best investment you can make is in yourself,” Warren Buffett has said.

    You are your most important asset. You earn the money and you make the investment decisions.

    Honor that by upgrading your skills. 

    You can upgrade your investing skill set this very minute by downloading  my free e-book Free Yourself here. 

    Ten Things Rich People Teach Their Kids About Money

    Ten Things Rich People Teach Their Kids About Money

    by | Aug 30, 2020 | Mindset, Money and children

    You’re shopping for groceries when your kid begs you to buy a toy that he or she has spotted while you were walking around looking for organic oatmeal.

    The kid says in a whiny voice: “But all my best friends have it.” Or. “But you NEVER buy me anything!”

    What do you say?

    Do you sometimes give in, and other times slip in a comment that you can’t afford it?

    Congratulations.

    You are teaching your kids a poverty mindset.

    I know you didn’t mean to, but you are teaching them that money is out of their control, better spend what they can quickly since the flow is irregular and moody.

    Oh well. We’ve all been there. Me too.

    Let’s move on.

    Today is the first day of the rest of their childhood. 

    Let’s get inspired by those with an abundance mindset. What do rich people teach their kids about money?

    1. They Talk About Money

    Rich people give money attention. 

    They talk about money, and they are not ashamed of it. It’s a welcome and natural aspect of their lives. Something to be addressed. 

    They talk with their kids about how much things cost, and they compare it with the cost of other things.

    They tell them what they are saving for and how much they look forward to buying it.

    They tell them about earning money and investing money. It’s not a taboo. 

    2. They Teach Them to Manage Money 

    They don’t stop at talking about money. 

    They teach them how to manage it.

    They give them pocket money that they have the full control over.

    When I was a kid, my father gave me pocket money, and I remember the joy of counting the coins in my tin box and looking forward to buying a new tiny thing for my doll house.

    I remember when I was older, I looked forward to buying the best roller skates I could get.

    I really treasured the toy that I bought because I had waited for it and ignored other tempting things in order to finally be able to buy it.

    Give your children pocket money from the time they are big enough to count to ten.

    • Let them play with it.
    • Let them drop a coin and be upset about it (my son recently dropped a coin in an elephant dung at the zoo. He now carries his money in his wallet). 
    • Let them buy something frivolous sometimes and let them regret it. 
    • Let them save money for something they really want.
    • Let them buy something for someone else and feel the joy of generosity.
    • Let them experiment.

    When you let go, they learn valuable lessons that only experience can teach them. They learn how to direct and manage their money. 

    It’s much better to be a little generous with the pocket money and stop giving them random things that they ask for.

    Look at your monthly account statement. How much do you actually spend on miscellaneous things like snacks and toys for your kids?

    Give them the ability to control that money instead. The lessons they learn will be very valuable – much more valuable than the pocket money itself.  

    3. They Teach Them Abundance  

    You must stop saying scary things like “we can’t afford that”, or “you are ruining me”.

    Now, you are probably thinking that it’s easy for rich people to avoid saying they can’t afford something, since they have a lot of money.

    But honestly, admit it, you’re saying this to your kids even when it’s not true, right? It’s just something to say, like an automatic response. 

    Teach them that money is not a limited resource. There is plenty of money – you just need to figure out how to make more of it.

    If you think of money as limited, you will never really feel comfortable earning lots of it, because you will feel that you are taking something from someone else. What you get is something someone else is not getting.

    But it isn’t like that. When money flows fast, there is more of it. It’s not like a cake that can only be eaten once. Money is unlimited.

    Teach your kids that there is plenty for all of us. Tell them that. 

    4. They Teach Them to Make Money 

    Let them make money. Let them experiment and be creative with it. 

    • Let them sell used toys on a flea market.
    • Let them collect bottles.
    • Let them walk the neighbor’s dog for pay.
    • Let them get a bit of interest on the money they’ve saved. Let them get the dividends on stocks that have been paid out, and give it to them in cash.

    Earning money will give them valuable lessons for life.

    If they ever need money in the future, their brain will be conditioned to think of solutions – instead of being conditioned to ask their parents for money to fix the problem. 

    5. They Teach Them About Assets and Liabilities

    They teach them that some belongings cost money.

    They teach them how some belongings make them money.

    Let your kids get a taste of it from an early age.

    A liability might be something small like having to pay for pet food. They get used to considering recurring costs and taking responsibility.

    An asset could be getting interest on money saved in their piggy bank. It doesn’t have to be big. It’s a question of getting used to the concept of money flows created by assets and liabilities.  

    6. They Teach Them About Patience and Postponing Needs

    You’ve probably heard of the marshmallow study that had kids sitting in a room with a marshmallow in front of them, and testing whether they could postpone eating it. 

    They were told they would get a second one if the marshmallow was still in front of them when the grown-up returned.

    Follow-up studies showed that the kids who managed to distract themselves and control the impulse to eat the fluffy sweet were more successful later in life.

    The conclusion was that postponing your needs and controlling your urges are important skills to master.

    How do you teach that? Well, you are well under way in letting them manage their own money. They will learn to let some things go in order to get what they really want. 

    There might be other exercises that you can think of in your everyday life.

    7. They Teach Them to Be Consistent

    Success is the result of consistent action. 

    I really got that the day my English teacher said that if I learned one new word every day, my vocabulary would increase with 365 new words in a year. Two new words a day would be 730 in a year. One or two new words a day seemed like such a little effort, and the result after a year seemed enormous. I decided to learn five new words a day. I lived in Denmark at the time and wanted to move to Canada where my older sister lived.

    What is your child interested in? How many dinosaurs will he know if he learns about a new one every day? How many words can she read if she learns a new one every day?

    8. They Teach Them to Take Care of Themselves  

    We all know some adults who approach life with the attitude of a sulking child.

    You know who I mean.

    The person who feels like life or certain people around them owe them something.  The person who is still expecting to miraculously be saved by a shining knight. The person who can still talk at length about how their sister got more from their parents than they did.

    These people. Those who feel it’s someone else’s fault that they did not get what they want.

    Rich people make their children aware that no one owes them anything and no one is going to save them. If they want something, they have to make it happen. 

    9. They Teach Them to Solve Problems     

    All self-made billionaires solve problems.

    If you want to get rich, you have to either solve a big problem or solve a problem for a lot of people. 

    Train your children to think in terms of problems that have to be solved, and they will never go hungry. It’ll make your children great entrepreneurs or leaders. 

    10. Teach Them the Basics of Social Rules

    One of Warren Buffett’s favorite books is Dale Carnegie’s How to Win Friends and Influence People.

    It has taught Buffett to be diplomatic, and Dale Carnegie’s strategies have probably helped him create his fortune.

    But that is not the most important thing about following some smart social rules.

    Social rules are basic for a happy life. Teach your children the principles of the book, and they’ll do better both in their careers and their relationships. I’m going through the principles these days on the Instagram account Moneyandfreedomwithstocks. 

    As Warren Buffett puts it: “If the people you want to love you actually do love you, you are a success.” 

    What good is all the money going to do it if you have no one to share it with?

    Don’t forget to read the e-book that will set you free. You can get it here.

    Seven Ways to Secure Your Financial Future as an Entrepreneur

    Seven Ways to Secure Your Financial Future as an Entrepreneur

    by | Aug 21, 2020 | Your money

    Many entrepreneurs neglect their personal finances even though their businesses are doing well. 

    They are focused, determined and make money – but their own savings and bank accounts are a disaster.  

    So what’s going on and what should they do about it?

    They’re so focused on investing in their entrepreneurial dream that they forget to create security for themselves. 

    Here are seven steps you must take if you are an entrepreneur.    

    1. Save for Your Retirement 

    Yes, I know what you are thinking. You are probably thinking that your business is your retirement savings.

    If that’s your logic, I hate to break it to you that you’re putting all your eggs in one basket, and if something unlikely happens – let’s say a global pandemic – that puts your business at risk of bankruptcy, you’ll be facing old age with cat food for dinner.

    There’s no way around it. You have to build a proper retirement fund in an account with tax benefits. 

    2. Build Up Savings 

    When Bill Gates was a young man building Microsoft, he lost a big client. He faced a business crisis and a personal crisis because he had hired friends, their wives and their extended family to work for him. He was afraid that he would have to let them go.

    Warren Buffett advised Gates to build the firm’s cash savings equivalent to a year’s worth of the company’s spending.

    Think about that for a moment. What would it mean to you if you could keep your business afloat for a whole year? Even during a giant lockdown?

    You should also create savings and buffers with your personal finances. You should have at least two kinds of cash savings:

    • An emergency savings account for things like a car repair or a new fridge.
    • An ‘independence’ savings pot with 5-6 months of salary. This will give you peace of mind and make it easier for you to make bold decisions and focus on your business. 

    3. Keep Your Company’s Finances Separate From Your Own 

    Don’t do crazy things like cash out your retirement savings to invest it in your firm or to cover a loss in your firm.

    Choose a company structure that separates your personal finances from the destiny of the company. Make sure that you cannot personally be held financially responsible if the business goes bankrupt. Talk with a lawyer about that.  

    Separating your business and your personal finances also means paying yourself a decent salary. So many entrepreneurs pay themselves less than the experts they hire because they are focused on reinvesting in the firm.

    You have to pay yourself a fair share so you can begin to build up assets other than your firm. 

    4. Build Up Assets 

    Yes, let’s talk about assets. What are they?

    They are money machines that increase your net worth while you sleep. This could be rental property, bonds, shares or even pinball machines.

    The best kind of assets are, in my opinion, shares in publicly traded companies. You get to become a co-owners of other people’s businesses without having to do the actual work like recruiting, planning and executing. The daily management will take care of all that nitty-gritty stuff that you deal with in your own business.

    As a business owner, you have tremendous advantages over other shareholders because you are used to thinking about running businesses – and stocks are exactly that: businesses. 

    When deciding what to invest in, look at the whole business and evaluate it as if you were about to buy the whole thing and run it yourself. Does it seem well run? Is it protected from competitors? Does it actually make money? Is it growing? Do you believe in the product or the service that it makes?

    You can learn more about how to evaluate companies here in my free e-book.

    5. Set Strong Financial Goals for Yourself 

    You probably have sound business plans. But do you have any plans for your own money?

    It’s time to view your own life and personal finances through the professional lense you employ at work. Be accurate and ambitious. 

    What about working on becoming financially independent even before you’ve reached your goals with your business? Would that be a goal worth working towards? What kind of relief would it be if you knew that you are safe financially? 

    6. Use Professional Help 

    You probably use accountants and lawyers to make sure that your business is running smoothly.

    When it comes to your business, you probably already know that it’s more costly trying to do everything yourself instead of outsourcing and hiring experts. You can’t afford to make mistakes with the annual report or screw up some of the legal work that’s supposed to protect you.

    You also need help setting up your personal financial goals and routines, so get in touch with a financial advisor and get some help cleaning up the mess.

    It’s money well spent. 

    7. Keep Learning

    The people who are most successful in life never stop learning. They keep studying new tools and gaining new knowledge that they can use in business and in life in general. 

    People who think they learned everything at school will never make it big. School’s job is mostly just to teach you how to learn and follow instructions. The rest is up to you. 

    It’s important that you keep acquiring the knowledge that you need to have in order to solve the next problem you encounter or to manage things better.

    Use coaches, take online courses, take offline classes, listen to webinars and join mastermind groups.

    Learn from the people who already know more about investing or running a business than you. It will give you a fast track to success.

    The investment you make in yourself and your knowledge will be the best investment you make. You are, after all, your biggest asset. If you want to learn how to invest in stocks, get some knowledge.

    Don’t forget to read the e-book that will set you free. You can get it here.

    Five Ways to Make Investing More Fun

    Five Ways to Make Investing More Fun

    by | Aug 15, 2020 | Investing in stocks, Mindset

    Some people find any dealings with their finances as tiring as flossing their teeth. It’s not exactly what they look forward to doing on a Friday night after the kids have fallen asleep.

    Other people enjoy looking up stock symbols and researching companies, and they prefer to check their portfolio than watching the latest series on Netflix.

    What’s the difference between these two kinds of people?

    How do you become one of those who finds stock investing thrilling?

    Here are five simple hacks to make stock investing more fun.

    1. Trust That it Will Eventually Make You Rich

    Many new investors feel that stocks are risky business, and they fear losing all their money. This creates resistance on a subconscious level, and it’ll make it difficult to enjoy researching companies.

    When you’ve invested successfully for a while you begin to trust that investing will make you wealthy in the long run.

    In order to find joy in investing, you’ve got to hack into that trust prematurely.

    You have to convince yourself that investing works.

    You do that by reading about successful investors and by meeting people who have succeeded.

    You also get more confidence by accumulating more knowledge about investing. 

    2. Set Ambitious Goals   

    You need specific goals so you know where you are heading. But more than specific goals, you also need ambitious goals.

    Small, mediocre goals leave you feeling deflated. Big goals lift you up and make you work on a higher energy level.  

    Big goals can really change your life.

    When you set your big goal, you might want to think long term. How is your life going to look in ten years? Ten years is enough time to become financially free for most people. What will your goal be in ten years? How much do you need to become financially free? Have you calculated that number? If you need help, you can book a strategy call with me right here to set up your goals.

    What about including your family in your goal? Working for a goal that is bigger than you will make more sense on a deeper level. What is your goal for your children? How about creating generational wealth? And if you have no children: what cause would you like to support? What will you contribute to? 

    3. Invest in Something That You Like   

    Invest in something that you understand – that is rule number one when finding investments. But you should also invest in something that you like.

    Many people invest in something that they don’t know anything about, and some people even invest in something that they can’t fully support.

    Investing outside your level of competence and outside your values will make investing feel like a chore, because you are working against yourself. 

    4. Reward Yourself 

    When you have smaller successes with your investing, you should reward yourself. 

    I know of a woman who always buys designer bags with the dividend that she gets from her investments. It motivates her.

    Now, I’m not sure how many bags a woman really needs, and I prefer to reinvest any dividends or gains to let the effect of compounding do its wonder. But I do applaud the idea that you should avoid spending money on luxury directly from your salary. Make your money work for you for a while in the investing machine before you spoil yourself. 

    You don’t necessarily have to reward yourself with material things like designer bags. You can reward yourself with experiences like dining out at a nice restaurant. Your reward doesn’t even have to cost anything. It can be a trip to the summerhouse or day off work and chores.

    How and when is up to you. The point is to celebrate when you have achieved some kind of success – and the definition of success is up to you too.

    How to celebrate your success might be another blog post for another day. If you have a nice habit of celebrating your success then tell me about it either through mail or on social media, and you can inspire me for the next blog post. 

    5. Build a Peer Group Around Your Investing Practice

    If you can talk with like-minded people about your investment ideas, it’ll become more fun for you to find them.

    If, on the other hand, you don’t know anyone who understands what you are trying to do, it’s going to feel a little lonely.

    Fortunately, it’s very easy today to meet other people with the same interests through social media.

    There are, for example, plenty of investing groups on Facebook. Try to find one that matches your style of investment and your temperament.

    You are welcome to join my group Managing Money and Freedom here. 

    Do you want to learn how to invest like the famous investor Warren Buffett? I teach you how to do that in my e-book Free Yourself. You can download it here.  

    Seven Mindset Hacks Rich People Use

    Seven Mindset Hacks Rich People Use

    by | Aug 8, 2020 | Mindset

    Becoming wealthy has a lot to do with your mindset.

    The way you think about money really determines how much of it you make, keep and make productive.

    If you see abundance, freedom and unlimited opportunities, you’ve set the path towards wealth.

    But if you see scarcity, few choices and limited opportunities, you will be your own barrier. 

    Here are seven specific mindset hacks you can use to think in a way that will help you attract wealth. 

    1. Money is Something They Make

    Rich people think beyond earning an hourly or monthly salary.

    They think more like an entrepreneur, and they look at all the possibilities for making money.

    Once they have made money, they make that money work hard for them, since they are very aware that money itself is a source of more money.

    One of the most efficient ways to make money work hard for you is stock investing. If you want to learn how to invest in a way that gives a high return, you can read more about that here.

    2. They Think Positively About Money 

    First of all, they see an abundance of money. They are not ashamed of wanting plenty of it, because they see the source as infinite.

    This is crucial. If you see a shortage of money, you will feel that you take something from someone else every time you get some more. People who believe in a shortage of money, tend to feel shame about wanting money. 

    They also focus on all the good things they can do with the money they earn and they look forward to it as if it’s already done.

    Finally, they think positively about rich people. They don’t feel envy if they see a nice car or a beautiful house. Instead of envy, they feel inspired. They think it’s something they deserve too and could decide to have in the future. 

    3. They Set Very High Goals    

    Wealth isn’t something that accidentally happens to you.

    You only become rich if you decide to become rich. You have to set high expectations to get there. 

    I once had a coach who talked about 10x’ing your goals. Whatever your financial goal was, you had to make it ten times bigger. Why? Because it would stress you a little, increase your brain waves and make you search for new opportunities.

    What is your financial goal?

    Wait a second. Did you just think of a monthly salary? Well, that is a mistake. People who become rich think of their net worth – they don’t really care about a salary.

    Think of Warren Buffett. He earns $100,000 from his position at Berkshire Hathaway. That’s it. That is his income. Despite that modest annual income, he became the world’s richest man (until he began donating his money to charities).

    He would never have gotten there by focusing on his income. He focused on building assets, true wealth. 

    4. They Commit to Their Goals  

    Successful people keep working at achieving their goals, and they keep trying even when it seems impossible.

    They are truly committed to getting what they want and to do what it takes.

    They have a very clear understanding that rejections and mistakes are not necessarily a bad thing. As Thomas Edison (the inventor of the light bulb) famously said: “I haven’t failed. I’ve just found 10,000 ways that don’t work.”

    True commitment – really deciding to do whatever it takes – is the key to anything you want in life. Rich people understand that there will be challenges in any path you choose and that the important thing is how you handle adversity. Do you let it break you or do you consider it a lesson learned and move on?

    5. They Are Good Receivers

    Have you ever given a lovely gift and been disappointed with how it was received?

    Have you seen someone react with embarrassment and heard them say: 

    “Oh, you shouldn’t have. That’s too much.”

    Next time you will probably give them something that’s smaller, less embarrassing.

    Good receivers see the effort you made in picking the gift. They say something like “Thank you. That is a wonderful dress. You picked my favorite color. How did you know what?”

    Next time you will do it again, because they truly appreciated it. 

    It’s the same with attracting wealth. You have to feel that you really deserve it and when money shows up, you have to be grateful for it.

    Rich people feel they deserve wealth, and they are not ashamed of asking for it. 

    6. They Block Out Fear

    At the latest annual meeting in Berkshire Hathaway, Warren Buffett said something that astonished me. 

    “Fear is like the virus. It strikes some people with far greater velocity than others. Fear is something I never felt financially and Charlie neither.”

    That is pretty astonishing. He juggles enormous amounts of money, and he has been through some trying times such as the scandal at investing bank Salomon Brothers that he had to step in to save. 

    I think Warren Buffett is a mortal like the rest of us, but I believe he has taught himself to block out fear.

    How do you do that?

    The more knowledge I have about an investment, the less I worry about the mood swings of the stock market.

    In stock investing, having some kind of checklist to take you through the investment decision is key to blocking out fear. You can use my checklist here.

    I also find that having cash savings helps me stay cool in both investing and running a business. 

    7. They Constantly Learn and Grow

    The most expensive words in the English language are: “Yes, I already know that.”

    It will keep you from learning and growing. Successful people are aware that there’s a lot they don’t know, and they are humble and constantly try to learn and grow.

    Most people have two objections to taking courses: Lack of time and lack of money. Benjamin Franklin once said: “If you think education is expensive, try ignorance.”

    If you have any questions or comments, feel free to ask them in my free Facebook group Managing Money Freedom, here. 

    If you want to learn more about investing, you are welcome to download my free e-book here.