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Financial Profundities |  |
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Hello and welcome to Financial Profundities, an ad-hoc e-newsletter designed to expand your knowledge on a variety of topics that impact your money and your life.
For some, last week was just another week in the New Year. However, if, like me, you have read more than your share of self-help books, you know we passed a significant milestone: 21-days. Dr. Maxwell Maltz, a plastic surgeon working with amputees, is credited with bringing the notion of 21- days to the forefront. In 1960, he wrote what would become a seminal book, Psycho-Cybernetics. In it, he states that "...it usually requires 21 days to effect any perceptible change." He was referring to the length of time it took for amputees to stop experiencing phantom feelings in the amputated limb. I don't know how his medical observation became the "gospel" for much of the self-help literature out there. But "21-days," in personal-development circles, has become a common benchmark for measuring one's progress and success; it represents how long it takes to start/stop something, both of which are needed in order to form a new habit. The genesis for most new habits is change. At times, this change is driven by desire; at other times, it is fueled by necessity. Either way, there seems to be a symbiotic relationship between the beginning of a new year and new habits. Especially when you consider the common declarations at the top of the year - think diet (eat healthier), exercise (lose weight) and money management (save more and get out of debt).
If forming a new habit were easy, discipline and fortitude wouldn't be required when your excitement and enthusiasm wane. If changing your behavior didn't take time, sticking to your game plan wouldn't be difficult. But let's face it, change is hard work --- and it takes time! Enter what I call the "21-day approach." With it, you do three things:
Some of you started the New Year off strong and are still on track with your goals and resolutions. Some of you greeted 2008 with an almost evangelical enthusiasm about the changes you were going to make; yet a mere 21-days later and you now find yourself loosing steam and back-sliding. If you find yourself in the latter camp - today or later in the year - adopt the "21-day approach." Ironically, taking the short-term view can actually help you get back on track!
Special Note: As I write this newsletter,
the Federal Reserve reduced the interest rate for the
second time in as many weeks. In addition, the
House of Representatives okayed a $146billion
economic stimulus package.
We are hosting a three-part series to be held in February and March "If a Recession Comes, Make it Work for You!"
Session #1 - "Making Credit Work For You"
Date: Wednesday, February 20, 2008 Time: 8:00 - 9:00 p.m. To register, click here. Focus: What credit management is - and isn't - and how to use credit to your advantage in all market and economic environments. Session #2 - "The Best of Both Worlds - Be a
Passive and Active Investor"
Date: Wednesday, February 27, 2008 Time: 8:00 - 9:00 p.m. To register, click here. Focus: How to "capture most of the gains of bull markets and preserve capital in down markets." A strategy used by high-net-worth individuals and institutions, yet appropriate for portfolios of all asset sizes. Session #3 - "Right Mind, Right Behavior,
Right Results"
Date: Wednesday, March 5, 2008 Time: 8:00 - 9:00 p.m. To register, click here. Focus: Why a systematic approach to money is smart, strategic and sensible and how the particular approach invented by Dr. Jacques Jospitre can help you achieve your goals.
Modeled after the workshop of the same name, we offer the Stop Treating Your Money So Poorly Workbook (tm). It is a 48-page workbook, which consists of ten worksheets that will provoke you to think about money differently, inspire you to identify and examine your habits and help you make the choices that are right for you, at the right time and in the right way. The workbook is $24.95; the PDF downloadable version is $19.95; both can be purchased directly from Sterling's website. Virtual training support is also provided with your purchase.
Click here
for a look inside the workbook.
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