Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.
#82 – July 31, 2023
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Wise: Get motivated
Motivation is the reason for acting or behaving a certain way, but it often tends to be short-lived.
The key to maintaining motivation is having a purpose. Without a purpose, there’s no action.
Psychiatrist and Holocaust survivor Viktor Frankl emphasized the importance of striving for a worthwhile pursuit:
“What man actually needs is not a tensionless state but rather the striving and struggling for a worthwhile goal, a freely chosen task.”
To me, this is the foundation of motivation. If you have a worthwhile goal that you’re working towards, the goal itself will motivate you.
Wealthy: Observing the future
When it comes to investing, it’s easy to get swayed by what the news, rumors, and other people say.
There is conflicting information and news stories about investing. Even finance experts have different opinions about it.
But if you really want to make a lot of money, the secret isn’t with the news. But in observing the future.
Bernard Baruch, an American investor who made his fortune in the early 1900s, said that a successful trader and investor is someone who “observes the future, and acts before it occurs.”
Making money in the market isn’t about reacting to sudden price movements or the news. Instead, it’s about envisioning the future and making moves ahead of time.
One interesting thing
In social situations or at work, we sometimes run into people who show rude, impolite, or aggressive behavior. As the 14th Dalai Lama said:
“Do not let the behavior of others destroy your inner peace.”
Never let other people’s negative energy take over your mood.
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
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