Find Your One Thing

In the movie “City Slickers”, Curly is asked what the meaning of life is. He replies “One Thing”.

It’s my belief that your financial success is so much more than just investments. That’s why I named my company “Generosity Wealth Management” instead of “Generosity Investment Management”. I feel 80% of acquiring and preserving wealth is behavior, not chasing after the home run investment.

A colleague here at the office said “funny, the harder you work the luckier you seem to get”. I couldn’t agree more.

My video this week is about the importance of finding the “one thing” that you’re doing that is holding you back from financial success. It’s also about the “one thing” that you’ve done to make yourself successful–continue doing that!

Link to blog I reference in my video

 

TRANSCRIPT:

Hi there, Mike Brady with Generosity Wealth Management, here in Boulder, Colorado. And I this week I want to talk about finding your one thing!

And I was inspired to do this video by a friend who writes a blog, which I think is just wonderful and I’ll post the link up on this video and in my newsletter. But he was quoting City Slickers, where Curley, who’s this kind of older cowboy, and he’s asked what the, you know, what the secret what is the secret of life is, of happiness, and he says, “it’s just one thing.” And the person says, “What is that one thing?” And he’s like, “that’s for you to figure out.”

And it’s my belief that so much of being successful in life and being successful financially is behavioral. You need to find out what you’re doing if you’re already successful, if you’re well on the way to saving for your retirement or you’ve retired, and there’s just, you know, you’re going to be fine for the rest of your life, and because you’ve accumulated a good amount of money for your retirement, then continue doing what it is that’s gotten you this far. If, on the other hand, you are hoping to retire, or you look at your finances and you say to yourself, “gosh, what am I doing wrong? Why is it that I’m making one hundred thousand dollars a year and I have a bunch of credit card debt and I have a piddly saving, and I just can’t seem to get ahead…” Well, you know what, it’s probably not that you’re making the wrong investments, which, that might be one of them. But really you have to ask, why are you spending too much money? OK? And so, inside your life there is probably one, maybe even two things that you’re doing that’s holding you back. You’ve got to figure out what it is.

And I can help you find that out, if you need some guidance. But what is that one thing that’s going to make you successful? What is that one thing that has made you successful? And it’s probably not this investment or that investment, but it was something that you did behaviorally. It was your attitude, it was the relationship that you had with money. It was something that was probably not that sexy. You know everyone likes to talk about this stock and that stock, you know, around the old barbeque, neighborhood barbeque, but you know what really makes you successful, many times, is something that you’re doing, consistently. And you’ve got to figure that out for yourself, and if you need some help, some guidance, in figuring out what that is, what could hopefully propel you towards reaching your goals, please give me a call and we can try to uncover that.

Mike Brady, Generosity Wealth Management, in Boulder. I’m serving the Boulder, Denver, Longmont area in Colorado- although I have clients in probably ten or elven different states. If you’re in another state and you’re wondering if I’m interested in having you as a client, the answer is, let’s have that conversation and I can always get registered in that state. 303.747.6455.

You have a wonderful, wonderful week! I’ll talk to you later, bye bye now.

Japan Slowly Awakening to Debt Situation

Japan Slowly Awakening to Debt Situation

One of my goals in my newsletter is to bring to your awareness things that I find interesting or alarming.

The article below is in the “alarming” category.

Japan borows more than it raises in taxes, and its debt amounts to two years’ worth of Japan’s economic output.

Japan has the highest debt-to-GDP ratio in the world. Half of the country’s tax income is directed to simply servicing it’s debt.

In addition to Europe and China (which I’ve written about in the past), Japan is one of the next huge players we’ll be unraveling in the future. I have great concerns about investing in Japan, and a Euro-Pacific investment is the most troublesome to me.

Be careful if you have that allocation in your portfolio.

Click for the Full Article

Greece

Greece

Are you tired of reading and hearing about Greece? Me too, but that doesn’t mean it’s going to stop.

The most recent Greek agreement is a joke (in my opinion) and makes a significant number of overly optimistic assumptions about the future.

As I view it, there is no way the European Monetary Union can survive in it’s current form, and definitely not with Greece in there.

Where is the money to be made for investors like us?

I continue to advise a higher allocation to the United States and avoid Greece and the whole of Europe for at least 2012.

Open Questions Surrounding the Second Greek Bailout

This is Your Brain on a Hot Streak

This is Your Brain on a Hot Streak

Continuing the theme from my video, investor behavior has a significant influence on your success.

A recent study found that cells deep in the brain calculate a sort of moving average of past events, giving the greatest weight to the most recent outcomes.

So, even after a long term upward trend, or long term downward trend, a few months in the opposite direction can prompt impulsive investor decisions towards or away from stocks.

Avoid the knee-jerk reactions.

This is Your Brain on a Hot Streak

Duff Beer

Duff Beer

Oh yeah, Duff Beer.

This post only makes sense if you watch the Simpsons or have kids that watch the Simpsons. I’m 43 years old now and I’ve been watching it since I was about 18 and in college. Hard to believe it’s been on that long.

Anyway, the fictional Duff Beer is now available in the UK. If anyone is going over there soon, can you buy me some?