On Affirmation for your future self

 Let's say you want to materialize something in your life like in 3 years you want to have x amount of money. 

Your affirmation should not be "In 3 years from now I will have x amount of money"

It should be "By July of 2024 I have x amount of money"

Did you notice the subtilties 

1. Have the exact date since if you are going to say "In 3 years from now" every day after 6 months it should have been "In 2 years 6 month from now.." but you don't generally modify your affirmation that you end up in no progress since the difference between today and the end date is constant

2. The first affirmation is in the future tense and the second one is in present tense.  The theory of expectancy should kick in and you already know it is happening.

3. Next comes how you say it. Feelings are important lofty goal but no emotion will not get you there. Say it with feelings. If you have an affirmation but it doesn't move you then please have another affirmation which moves you. 

4. Actions:  Many gurus says don't think about how to achieve your goals and affirmations how will take care by itself. Yes that's partially correct.. You need to get your why and then the what first and your incompetency of "How" it is going to happen should not reduce the loftiness of the goal. But once you have a vision you need to figure out the how, at least the first step. You are telling universe that you are doing your part and the universe can do its part. If you want x amount of money may be you should ask for a hike or upskill yourself for a promotion, change job, increase investment or reduce expense. You need to do something.

I deleted youtube app in my phone

Yes I did it and feel super awesome!

I used to burn sometime everyday looking at my subscription and the never ending list of suggested videos from youtube in my mobile its a distraction. 

I still have youtube in my smart tv and that's ok. Because its a planned downtime when I sit in front of my TV. But with my mobile since its handy and when I feel I needed to look for something interesting it kills the time 3 mins becomes 13 mins just like that!!

Anyway if I want to access youtube in my mobile I can still use browser and since it requires some effort I don't end up doing it and this helps me save hours every week. 

You don't need willpower to overcome addiction to distraction. You just need to setup your environment which benefits you and that's a smart way to becoming productive

Stocks vs Mutual Funds for people in high tax slab

 With the recent taxation for Dividents in India people who are in high tax bracket may end up choosing Mutual Fund (MF) vs stocks here are the reasons why you are better off with MF

1. You get taxed for Dividents and lets say you diligently try to reinvest you have to still pay brokerage and other taxes as part of buying you dont need to do that in MF

2. Its very difficult to track your investments may be you have several lakhs invested in many companies do you think you can do a rational choice when something goes up or down 

3. If you invest in MF you can do a predefined amount but the same thing is difficult in Stocks you need to get the exact amount which could be less or higher than your desired amount

4. Even lets say you were able to diligently invest in stocks how do you do portfolio rebalancing how  you are sure your stocks are in the right weightage when you have to book profit or loss tactically

5. All the above mentioned in #4 may have tax implications and that's bypassed in MF you don't have to pay tax 

6. Also MF with its volume may get better deal in rates then you as an individual 

Agreed that for a given investment you  are paying regular fees in MFs and if you can do all the investment yourself you may end up saving that cost but is that what you need to spend time on. 

If your regular job is not in stock market and something else will you not rather spend time on upgrading your skill and having good life experience, spending time with your family or will you be looking at stock market. 

You may have got 300% return in a stock investment but how much you invested say 1 Lakh!

Is that enough for your future expenses and retirement?

Do you have the guys to exit that investment and put all the money in the next stock (else compounding will not happen)

Mutual Fund is a passive investment for you and you are never going to be rich just by investing in MF. 

The critical part of any investment is the amount you invest and if you can manage your active part of earning good money taking care of yourself and your loved ones then you end up increasing the amount invested in good quality MFs and this will make you rich. 

Aim for 10% XIRR in MF equity and manage your life style and skill development and live well below your means. 

Have an aggressive % of investment target like 40-50% of your salary and that will make you rich in a tax efficient way. 

Legacy Planning - what should happen when you die

 

There was a scene in a film where the villain asks the hero, “tell me how you want to die”

The hero replies, “as an old man”

That’s our wish right we want to die as an old man but when we die is not in our control.

We should definitely try to form good habits and take care of our health but death just happens sometimes and mostly when we are not ready for it

 

Some of my colleagues died due to COVID leaving  young dependent children behind… and that got me thinking

 

 

When we leave our family unexpectedly we have to let them know what they have to do.

There are 2 aspects

1. inheritance of wealth
2. inheritance of memories

 

Since we are in digital age lets speak about the above 2 only from the digital point of view since I feel that’s going to be very difficult.

 

If you have physical document about your investment in a suitcase your family know exactly where to look but with digital investments how many demat account, MF Folios you have .. you may yourself may not know.

 

With ease of paperwork in digital you would have tried zillions of investment products and even though you have placed a nominee in each of the account the nominee needs to know about them then only they can act on it.

 

So please think about this… do you want to create a will or at least print out the consolidated investment statement once a year and keep it somewhere so your family can see. Please plan this and discuss with your family

 

Next comes inheritance of memories, nowadays we don’t take print of our photos and also not even copying it in a cd and its all in some cloud platform say google.

There are ways to make these assets /memories to be transferred to your dear ones on your demise.

Please read this article

https://economictimes.indiatimes.com/wealth/personal-finance-news/how-to-bequeath-your-gmail-facebook-other-digital-accounts-to-your-family-heirs/articleshow/58548246.cms?from=mdr

 

We cannot afford to think about legacy planning at our 60s. Legacy planning is an ongoing process and we have to start very early and keep on updating them as things change over years.

 

Invitation for Mastermind

 I was curious about starting a mastermind and I ended up starting mastermind not with a group but as a one on one sessionss. 

There are many programs for self development, you can join an online class or read a book. But there is something about a peer to peer connect. A Magic that happens in the "we" space. 

There is a customized recipe that we discover with being in a mastermind and I think its a important tool for personal development and it can co-elevate our community

Here is a snippet of what I use for sending invite for mastermind. 

********************************************************

Hi <name>

I was thinking of starting a mastermind group. You would have heard of a master mind group in some books. Its about few ppl get together and discussing their problems and come up with solution A peer to peer mentoring group. Its also an accountability group. You go to the group and say this is what I want to achieve and the ppl will be your accountability partner and check whether you are making progress.

We are so productive in office since we have some goals for the project and we meet frequently with our peers and boss and give report of the progress and we are held accountable. But we don’t have the same system for personal development.

Very successful ppl are part of some mastermind groups and they usually charge very high amount and it’s a very private group no one speaks about it and its not open to public.

When you look about general friendship calls that ppl have its generally shallow we discuss about politics or movies or something like that and we don’t go deep about our personal aspiration and problems and we don’t say about our goals to anyone and so there is no tracking of the goal and we end up living well below our potential.

 

Anyway ppl in mastermind group should have known each other so I thought why can’t we start with our friends

Are you interested in creating a mastermind group. I cannot think of anyone other than you, me,<friends name> if you think you want to have a mastermind group but don’t want any of these ppl let me know. We can have it between just the 2 of us.

 

We can  discuss about the rules etc . We can have some calls say 30 mins once a week or whenever we want and we need to go very deep and speak about our things openly with trust and be open to being vulnerable and getting feedback.

********************************************************

For me inspiration for mastermind came from lifebook, mondvalley and books like think and grow rich

10 minute rule - overcome distraction

 Got this idea from the Mindvalley content - Being Indistractable  by Nir Eyal

Distraction is anything that takes away from your traction or planned work. 

Distraction could be useful work but its a distraction since it is not scheduled

If you have no schedule then distraction does not make sense. Distraction should be against a schedule so rule number 1 is schedule your day then only you will know how much you are distracted. 

10 Minute Rule:

If you have an urge for distraction like checking facebook just set a 10 min alarm. You are delaying the urge by 10 minutes. Observe how you feel. Its perfectly ok to go to your urge after 10 mins but most probably will not. 

Character and Success

Ridiculouly terrible people are successful 

Pleasing people are successeeful 

Pleasing people are poor so are terrible people

Pleasing people who are poor are happy so does rich pleasing people 

Conversly terrible people tend to be terrible both rich or poor 

So what is happening here. What is the attitude which we have to keep to be successful it seems you can be successful and rich and still feel terrible and be a grumpy guy. 

There are 2 major themes of energy the way of the light and the way of dark both are powerful. 

The way of light is the satvic way of growing, creating values to others making life better for everyone and by that process generating wealth

The way of dark is about trying to be smart and thinking all other people are dump and trying to extract money from those dump people, getting the last blood of the fellow person, jealousy,  etc

In both ways you can get wealth and similarly in both ways you may end up losing wealth, 

Lets explain the loosing wealth aspect 

You are grumpy jealous and you may end up bumping to a person worse than you (another dark worker) and end up loosing money or the light workers and neutral persons avoid you and seek others (both dark and light workers) leaving you grumpy with poverty

Related to light worker, you have not built a personal ego boundary which can save you. You have no boundary which will result in no personal ambition for material wealth you just want to serve and be happy this will result in both not getting rich and if at all you get rich by some accident you may end up loosing it with this attitude. 

Ego less state or  communion with the universe/ god is a very good state which will recharge you but you need not stay in that state permanently. You have to have an inner sanctity with the communion but have to go back to a good ego state 

If you want to be pleasing or in other words if you want to be a light worker and still create material wealth or for that matter any kinds of wealth like health. You need to develop a healthy good ego which will act as a boundary for your living energy. 

A sense of  Iness is needed for your progress