Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.
#52 – January 16, 2023
Was this shared with you? Sign up here:
Wise: Boost confidence
It’s normal to feel bad about yourself and lack self-confidence at times, especially when you browse social media.
But 99% of what people show online is nonsense. Yet, we compare ourselves anyway. That harms our self-confidence.
Lack of self-confidence is associated with depression, loneliness, lower academic achievement, and lower life satisfaction.
The most practical theory on improving self-confidence is ‘confidence by competence’ – i.e. being confident in your abilities to meet situations as they may arise.
To build your confidence, you’ll want to first improve your competencies and then put them into practice. In this article, I share more about how you can do that.
Wealthy: Changing careers
One of my readers recently emailed me about making a career change. Like so many of us, she felt stuck in her job and found herself worrying about paying the bills.
She knew it was time for a change, and she wrote, “Part of me knows this is the correct step but I am also super afraid.”
If you’re currently thinking about making a career change or transition, my latest article is for you.
The most important thing is to focus on your strengths, rely on your support system, and aim to be the best.
If you’re in the process of making a change, give yourself time to make mistakes and learn from them as you adjust to your new career.
One interesting thing
Sebastian Mallaby’s book, More Money Than God, discusses how, until the 1960s, the stock market was mainly dominated by individual investors:
“Pension funds, insurance funds, and mutual funds—the institutional managers of savings—were not yet significant. In 1950, for example, only about ten million American workers were covered by a company pension, and because most of these plans were in their infancy, they had relatively few assets.”
Today, institutional investors dominate markets. Our financial system might not be perfect, but it’s a lot more robust and professional than in the 20th century.
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
Join the 7-day Stay Centered challenge
I’ve created a one-week email course that you can do together with a group. It’s called Stay Centered, and it will help you to reclaim focus and live a meaningful life.
When you’re centered, nothing can hurt you. You will have inner peace no matter what happens.
How to unlock Stay Centered
You can join the challenge for free. Every day, you’ll receive a short email with a small challenge that inspires you to live better.
I highly recommend sharing it with your friends so you can go through the program together. I did it with my team, which was a lot of fun.
Join here: dariusforoux.com/stay-centered