Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.
#136 – August 5, 2024
Was this shared with you? Sign up here.
Enhancing your work output
I’ve been studying the science of productivity seriously since 2010 when I was in grad school. Even then, I prioritized my productivity and used a scientific approach to getting more things done.
One of the best ways to do that is to set specific and challenging goals.
The keywords here are “specific” and “challenging.” You have to be clear about your goal, and it must be hard enough that you find it challenging – but not too hard that it becomes impossible for you.
- Want to run a marathon, but you can barely do 2 kilometers? Try running 5k every day. That should build up your stamina.
- Want to earn more? Allocate an hour or two daily to improve your income-generating skills or start working on your side hustle.
I get all the advice on the internet about NOT setting goals and having empty calendars. I just don’t buy it.
If you’re overwhelmed or burnt out, I suggest temporarily getting rid of your goals. Just focus on the present. But if you’re in work mode and you’re an ambitious person, you NEED specific and challenging goals.
They give you a sense of direction. They propel you forward.
I share 4 more evidence-based strategies to enhance your work output. Check them out in my latest article.
↳ 5 Scientifically Proven Ways to Enhance Your Work Output
One interesting thing
The stock market is on the news again. That only happens when the market is down.
Over the past two years, Wall Street has been enamored by AI and the “Magnificent 7” stocks like Nvidia and Microsoft. The Nasdaq 100 index (which consists mostly of tech companies) was up about 80%, which is extraordinary.
As always, markets got ahead of themselves. And investors are tired of the AI story. It’s getting normal, and no one really cares that much.
Investors are now only focused on one thing: The day that the Fed lowers interest rates.
And stock market volatility will probably stay high until the Fed lowers rates (which probably won’t happen until mid September).
The good news is that a stock market crash is always an opportunity for long-term investors.
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
Darius
Order The Stoic Path to Wealth
My new book, The Stoic Path to Wealth (Portfolio / Penguin), is out now.
Learn more here: stoicpathtowealth.com