Jan 262015
 
15-01-dream-of-the-futureRich people dream of the future. They prioritize setting goals and planning ahead. Meanwhile the poor and middle class often dwell on the past, which holds them back and prevents them from being happy and productive. The wealthy are financially successful because they spend more time thinking about their future than their past. They believe their circumstances are not a matter of chance, but a matter of choice. Their future is not something they wait for. It’s something they plan for. 🙂
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We can’t turn back time or change the past, but we can all fight for a better future. Our past provides the foundation for our future, and our present defines what kind of future we want to build on that foundation. Every waking moment in the present is an opportunity for us to make better decisions that will help our future selves. Wallowing in regret or past mistakes will not help us in this respect. Whenever we become woeful we should try to acknowledge our emotional state, and then ultimately realize that our despairs or recollections about what happened in the past are simply ephemeral memories.
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The past can be useful, but only if we learn from it. If we failed a driving test, told an inappropriate joke, or didn’t get that promotion we wanted, we should absolutely think back and learn from our experiences, but more importantly strive to do better in the future. Instead of puzzling over what we could have done differently, we should instead be asking how can we do better next time. This shifts the focus from the past – a fleeting memory – to the future, where we’ll actually have an opportunity to do something about it.

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Jun 142014
 

Canadian comedian and actor Jim Carrey gave a moving commencement address to a class of 2014 last month. In his speech he describes how people often make seemingly practical choices that are actually based on fear, and how this can turn into a costly mistake. It’s true for many aspects of life, including personal finance. What I want is to become financially independent. But what I fear is making the wrong decision and losing all my money. So I have to let my love of financial freedom overcome my fear of failure. Opportunities are often disguised as hard work or risky. But that’s why success is worth it. Being able to retire in my 30s is worth the effort and struggle for me. Take it away Jim Carrey.

Jim Carrey’s Commencement Address at the 2014 MUM Graduation

Jim encourages us to ask the universe for things that seem out of reach. It’s amazing what we can receive if we simply ask for it. Last year I hoped my investments would perform well. The universe granted my wish and the stock markets returned over 20% in 2013. I also wished to receive more dividends and boom! Many companies I own have increased their dividend distributions over the last year, including Apple, Target, Enbridge, Disney, McDonalds, Chevron, and Scotia Bank. The universe rewards those who are proactive and optimistic 😀

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This is why I buy stocks despite their volatility. Why I buy real estate and land despite pundits saying the property bubble will burst at any moment. Why I invest in gold and silver even though many would argue precious metals are not even real investments. I will gladly face all the risks because I’m not afraid to ask the universe for what I really want 😉

Jim’s dad taught us that even if we make conservative financial choices, we can still fail. So we might as well take a chance on our dreams, even if it means exposing ourselves to more risk. I think this is great advice for many people who are too conservative with their financial decisions. We only live once after all. We can’t let fear paralyze and prevent us from turning our goals into realities. And for dads all around the world, happy Father’s Day 🙂

A longer version of Jim’s speech can be found here.

 

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Random Useless Fact:

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