thoughtoftheweek

What is wisdom? Does it require a high IQ? How about great family genes? My answer to both of those questions is a resounding, NO. Wisdom is an acquired skill and it can be very challenging as life throws you curve after curve. Do you learn from those difficult moments in life or do you see yourself as a victim that simply got unlucky/disadvantaged/screwed? Wisdom belongs to those who take some value from each life experience. They learn when others complain and/or point fingers. This is the beginning of wisdom.

   

Wisdom requires experience, knowledge and good judgment and those things don't just happen. Seeing the world as one very big maze can explain this issue in terms many can understand. Imagine yourself going down one path only to find it end and having to turn around to follow another path. Some people quit. Some people complain. And then there are those people who keep working at finding the right path as they identify the wrong paths. That is wisdom and that is the person who will find meaning when others find fault.

quoteoftheweek

Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. - Warren Buffett

videooftheweek
questionoftheweek

What is the Social Security ex-spousal benefit? Who can receive it? When?

bookoftheweek

This week's recommended book is The Millionaire Mind, by Thomas Stanley. This book followed Stanley's first bestseller, The Millionaire Next Door, and went further in depth on the issue. There are many good takeaways from this book for the reader. Maybe most importantly is the perception vs. reality many of us have on the topic. What do you think a millionaire is like, their mindset, their habits, etc. and then what is reality. P.S. There is a wide difference between people who make a lot of money (and spend most of it) and those who make a decent living and consistently set a decent portion of those earnings aside for future needs and financial independence. This book will help you understand the processes and the results. I highly recommend it!

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