Personal Development Academy: risk

                Personal Development Academy

Phoenix Bluebird Thinking

Hot

Showing posts with label risk. Show all posts
Showing posts with label risk. Show all posts

Tuesday, 27 February 2018

Impossible Dreams Do Come True

February 27, 2018 0

While some of us still believe that impossible dreams do come true, countless others gave up this right. Over the years, various people tell us to be realistic. Even society says that we all have limits and reaching beyond these limitations is not possible. But I am firmly against that popular belief.


So, how can you overcome your limits? What is being realistic anyway? Can dreams become real?
The thing you must understand is that virtually everything and anything is possible for you to create. If you believe and take the time required to form the necessary skills, whatever you want, do come true. However, you must also collect the essential resources to bring you there.
But the most important elements for impossible dreams to come into existence are the belief in yourself and your abilities to learn. Your beliefs determine your actions which in turn determine your results. So, if you do not believe you can succeed, then you will not reach your visions. Quite simple!

Realistic and Unrealistic

And when people tell you to be realistic, ignore them. In this world, all progress depends on those being unrealistic. The only reference people with limits have is some event or person that achieved something in the past. Those limitations were impossible dreams years before, yet someone realized them.
However, could you imagine what would happen if everyone only tries to achieve what others have already accomplished? I believe the human race would still be at the Stone Age.
So, it is a fact that you and I, all of us are born to brilliance and that success is achievable by anyone. If you read their biographies, most successful people or greatest performers are self-made and not born with a gift. Therefore, the only problem for most people is that, for some reason, they do not believe in themselves enough or for their dreams to come true.

Impossible Dreams Are Possible

If history teaches us anything, it is that when people assumed things are not achievable, some others preserve the impossible dreams alive. Those are the ones who still dreamed, making things possible so that it may come true over time. These pioneers did not listen to anyone who told them to be realistic. If they did, the world today would still be living in caves.
So, regardless of whether society considers it unrealistic, it is the pioneers, the misfits, and the mavericks who make it happen. They are the ones who follow their heart, stand up for an idea and go after it. It is these brave men and women who persistently push the limits of what the world believes possible. As a result, they are the people who end up remembered in history. 
"Dream the impossible because dreams do come true." - Elijah Wood 

All Can Come True

Playing it safe will bring you nowhere; it is only out of fear and ignorance that people do. In some situations, it may be good to do so. But most successful people will also tell you that you have to take some uneasy risks at times.
And so you have to make a choice, with incontestable belief. You need to give your impossible dreams a 'go,' or things will never happen, or even come true. Sometimes you have to take uncalculated risks to have what you want. You need to see it in your mind and work it into your reality.
And yes, life is like the art of drawing without an eraser. But life has lessons that no one teaches you in school. Instead, the education system makes you learn history by memorizing dates or events but never the real lesson.

A Story about Impossible Dreams

In November 1989, I told my mother that I was leaving for an international competition in the USA, but that this time I will not come back. The day after, I left my mother and my grandparents behind me, not knowing what lay ahead. Waving as I went, I saw her cry for me for the first time.
As we landed on the tarmac in New York, I could see, from the window of the plane, the Twin towers standing out in downtown. The horse vaulting competition took place but right after, taking advantage of a window of opportunity, I defected.
Being from the Soviet Union, I did not know anyone in this new country, had no place to stay or even a job to rely on. I only had a city name on a piece of paper and fifty dollars hidden in my pocket. And I did not even speak English. Impossible dreams you say. Yet I felt my gut tell me: hunt your dream!

Taking the Risk

And yes, I guess I was taking a high risk to make things come true, but I had nothing to lose. Instead, I had maybe a lot to gain. I soon took a bus to Atlanta, Georgia, then another one going south of the country. We were a Sunday, 5.30 in the morning, when I arrived at the little Greyhound station in Camden, South Carolina.
Outside in the cold, I said to myself "What should I do now?" So I decided to walk down the long street I was on called 'Fair Street.' As I was looking at the houses, my eyes flashed on a big white one, with two columns in front of it.
I felt my intuition telling me "Maybe you should knock at the door and ask for help." So after a minute of hesitation, following my feelings, I mustered my courage, went to the door and knocked. A girl wearing jeans came down the stairs. I could see her through the small glass windows of the front door where I was standing.

When Things Come True

She did not open the door right away but just asked me what I wanted. I could not speak English, so I got my Russian-English dictionary to find the words I desired to express. After a few minutes, I finally succeeded to make her understand that I wanted a job and a place to live. She seemed not surprised at my request.
Afterwards, the door opened, she let me in the hallway with my suitcase and asked me if I had different clothes to put on. But I could not understand her, so she opened my bag to find a pair of jeans. And when she saw them, she gave them to me saying that I had to wear them.
After changing my clothes, she told me to follow her. She asked me the line of work I was in. I said to her that I worked with horses and was a rider. Her face lit and explained to me that she was a horse farm manager. Suddenly, it all made sense. Impossible dreams do come true! I was at the right place at the right time.

A Life Changing Opportunity

We got in her car and during the ride to the horse farm where she worked; she tried to speak to me but without real success. Finally we arrived at a horse farm called "Sandy Dubose Farm." It was a very big and beautiful place where horses grew for horse racing.
My new friend named Mary Smith told me to wait. Then she left to talk to the owner to see if she could get me a job. She came back after fifteen minutes later, announcing to me that I was hired as an exercise boy, a morning jockey if you will. My work was to ride and train horses each morning.
The Horse farm owner loved European horse riders and was glad to have me on her team. My impossible dreams had led me to a life-changing opportunity. Yet, there was more to come. Mary told me that after work, we would look for a place to live, and she had a good idea of where.

Impossible Dreams Do Come True

The house where Mary was living in on Fair Street divided into four apartments. She lived on the second floor but there was no room for me as it was too small. But that across the hall from her lived another girl, Bridget. And as she had a two bedrooms apartment, she maybe needed a roommate to share the rent with her.
So we finished my first day at work, the horses being cleaned and fed, we went to another horse farm. It was where the other girl worked. We found her riding. Bridget was a pretty blonde with green eyes. After telling her my story, Mary asked her if she was interested in having a roommate, and she agreed.
And that is how, in a few hours' time, I got a job and a place to live in the United States. So never give up on your dreams because impossible dreams do come true if you want them hard enough.

You Can Do Anything

People often forget that life gives them countless of possibilities and choices. They are too busy in their day-to-day routine that they lose sight of what they can do if they put their minds to it. Understand that a vegetable seed has no other choice than to become a vegetable. Its fate is locked into that one reality. But you have infinite potential at your disposal. You can do anything you want.
 Think any thought you desire.
Change careers.
Learn any language.
Travel to any country.
Learn any craft or skill.
Start any business.
Begin any project.
So, do not be afraid to have impossible dreams others think are unimaginable. Start working towards them. Be crazy in your dreams. Plan when you can. But remember that you have to take risks when you can't. To discover your true limits and what can come true, you do need to challenge your own beliefs about what is real or not. 

Read More

Wednesday, 13 December 2017

Risk Attitude

December 13, 2017 0

To Risk or Not to Risk

This is a BIG question.

Should I enter this relationship? Should I marry this man? Should I take a new job? Should I move to a different city?

What if I fail? What if I look stupid? What if I loose money? What if I can't survive? (If you're asking this question, it's probably best NOT to take the risk!)

One of the biggest risks I ever took was marrying Lorenzo. I'd already had ONE failed marriage. What if I had another one? What if he were using me as an entrance fee into the US of A?

All these doubts. All these questions.

So was getting married worth the risk?

Yes.

So far.

Being in a romantic relationship with Lorenzo has taken me to much deeper levels of myself. To my greatest joys and my deepest fears.

And it's definitely been worth it.

So how do you determine whether to risk or not to risk?


1. To "Ben Franklin"? Or "Dip-Stick"?


My father always said, "If you have a decision to make, do like Ben Franklin...draw a line down the center of the page. On one side list all the advantages. On the other side list the disadvantages. Then see what you've got.

"Ben Franklin" is a Masculine approach to decision making. The Masculine thinks about the risk and the consequences of the choice then makes a logical, intelligent decision.

The Feminine approach is to "Dip-Stick".

When I was deciding whether or not to marry Lorenzo, Dr. Pat Allen suggested I "dip-stick" my feelings.

If I felt like being married to Lorenzo, I'd put a mark under "Yes". If I didn't, I'd mark "No".

After a week (or two) the "Yes" side won. So we got married. (I bet you thought there was more to it?)

So ladies, draw a line down the page and instead of "advantages" and "disadvantages", write YES or NO. Then check in with your feelings several times a day for a week or so.

Even if both sides start out equally, one side will eventually win over the other.

And the "crazy making" rumination between your head and heart (think, feel, think, feel, think, feel...) will stop.

2. Can You Afford the Price Tag?


If taking the risk didn't work out, would you survive it?

If you lost your investment, your partner or the job, would the experience be worth it? (I'm not talking about just dollars and cents.)

Would the actual experience be worth it? Would you become a "better" person? Could you learn something valuable? Can you afford the loss of NOT doing it?

When you look back on your life, is this a worthy investment of your money, time, energy or life experience?

If the answer is "Yes", do it.

I thought DUTY DATING would lead me to my next film project. It didn't.

But DUTY DATING did lead me to my husband.

And being the "Dating Director". And meeting many of you. And the opportunity of creating another career outside the (brutal) film industry.

I learned A LOT writing, directing and producing a feature film. The experience was invaluable. I would never trade it.

And DUTY DATING was completed and distributed internationally. (Even my in-laws saw it on Italian TV:))

3. What's Your Plan B?


I understand many "risk takers" have no Plan B. They say it's because there is simply NO alternative. Fine. If you gotta have it, you gotta have it, so by all means, go for it. Godspeed.

But for some of us, when unexpectedly Life Happens, it's nice to have Plan B. If something doesn't work out the way you want, there's something to fall back on. Even if the "fall back" isn't exactly your dream.

When I made the decision to move to LA, I wasn't sure if I could handle it. After all, I was raised in a small Tennessee town. (A BIG city for me was Knoxville.)

But I knew if I fell flat on my butt...if I lost everything I had...and ended up broke on the street, I could ALWAYS go home. Back to Kingsport, Tennessee. My parents would take me in. It wasn't my ideal choice (not theirs either). But at least I had a safety net.

And that's a big comfort. It gives me freedom to take risks.

So I advise having Plan B. Not that you'd ever use it. But knowing it's there can offer you alternatives. And peace of mind.

Here's to the Risk Taker in You!
Cherry Norris is a renowned celebrity dating coach, workshop director and popular speaker. Based in Los Angeles, California, Cherry is an official dating coach for Cupid's Coach matchmaking service and the relationship expert on Catherine Oxenberg's TV pilot, Practical Princess. Cherry has lead workshops around the US and on cruises to Mexico and Alaska. She has been featured in The LA Times, The Hollywood Reporter, Divine Caroline, and Women's World.

Cherry's passion is helping people build healthy, intimate romantic relationships. Under her direction, you will learn the skills and techniques for dating that will have you starring in the role of a lifetime opposite the co-star you've been waiting for!


Article Source: http://EzineArticles.com/expert/Cherry_Norris/173358




Read More

Tuesday, 12 December 2017

Why invest in Properties with Phoenix Bluebird Properties

December 12, 2017 0

Invest In Property


Although there are many options for investing, property investment is one of the favorites. There are at least 9 reasons why we should invest in property and not other types of investments:


1. The power of "Leverage"

To invest in our properties have the option to not use 100% of our money, but by using other people's money (OPM). One of the most common source is the money the bank loans. Depending on the country where we are, we usually can get a loan from banks ranging from 70% to 95%. In this case we only need to spend down payment of 5% to 30% of property price. This also means that leverage is approximately 3.3 to 20 times.

2. Relatively low risk

In general, investment in property is not like investing in the stock market where prices in one day can go down and up quite significantly. Only in certain situations where the economy was bad, property investments may be affected slightly. When compared with other investment types, such as opening a business, saving money on deposit or invested in stocks, property investment has a lower risk than those investments. If we look at the risk compared with income potential, the property has a relatively low risk with good potential income from rents and capital gains.

3. Two sources of income: rental and capital gains

Property investment offers a combination of rental income and capital gains. Investing in property is not only going to give us a positive cash flow but also the potential capital gains depends on property price increment


4. Full control to increase the value of property

If you have a property, you have full control of how you will increase the value of the property. There are many ways that can be done to increase the value of property, ranging from very simple things like painting the property. Other ways are to buy a few accessories or cosmetics, and renovations. These activities are very important especially when we want to rent or sell property. Some people do small renovations to increase the value of the property so that owners can sell at prices much higher.

5. Safe and sure investment in the long term

Property prices usually will not fluctuate so much. In general, it may take some time for property prices change over time. This is different from the stock market for example where prices can change dramatically in the evening.

6. Protection against inflation

Unlike a savings or deposits where interest is given is usually much lower than the rate of inflation, property prices usually follow at least the inflation rate. In this case, investing in property is still a better option to protect them from inflation.

7. A good vehicle to achieve financial freedom

Using rental income to generate positive cash flow, it is possible to achieve financial independence after a few years depending on the level of success of each person in the property investment. For example, if a person has income of $3,000 per month, that person can be financially free by making cash $3,000 per month with 5 properties with each property generate positive cash flow of $600 per property per month. Consider it a small house or row house, $600 rent would be very reasonable and quite conservative in this regard.

8. Can reduce the tax burden

Founded the company and buy property using the name of the company can save taxes. Rental property can be considered as income taxes and usually will apply only after deduction of all expenses charged. Buying property on behalf of the company will be more profitable than buying on behalf of individuals.


9. Become rich through property

Property investment can bring people to become truly wealthy. The key to wealth in property is through capital gains. For example, someone is investing in an apartment for $500K price with a down payment of $50K. Monthly rent of the property sufficient to pay the bank monthly installments, so automatically, financed by a bank installment monthly rent. After 20 years, the property has been paid in full and the price has been appreciated for example, to $1M (this is conservative, because the property prices in general will increase triple or even quadruple in 20 years). In this case the net profit from investment ($1 M - $50K) = $950K. If this person has 3 apartments and a total net profit would be almost $3M in 20 years. This guy really has become a millionaire with property investment.

   

Article Source: http://EzineArticles.com/3897224

Read More

Monday, 11 December 2017

What is Wealth?

December 11, 2017 0

What constitutes wealth?





The dictionary meaning of wealth is abundance. When spoken in the context of money, it would obviously mean an abundance of money. Well, this may seem a strange explanation because money is a limited resource for all of us after all. In fact, since most of us face the issue of having limited wealth, we need to prioritize our needs in order to ensure that we use this resource in the most optimal manner to fulfill the most important needs or goals.

Typically, all the money that is surplus to you at the present moment could make up your wealth. It may of course be needed in future to meet your financial commitment. Your wealth could be in the form of property, deposits, gold, shares and other such assets.

The important determinants of wealth


 The amount of gross wealth that you can potentially build up in your lifetime (ignoring the utilization on financial goals for the sake of simplicity) typically depends on three main factors namely:

  • Return that your savings earn and finally
  •  The length of time that you allow your savings to grow.

 Here is a detailed look on how each of these factors affect your wealth.

Importance of saving and investing towards wealth creation: It takes money to make money; just as it takes wheat to grow wheat. A healthy savings rate is the basis for creating wealth. This could of course raise the question as to what a healthy savings rate actually is. it simply is the rate that enables you to achieve your financial goals, given your investment temperament and preferences. Remember, it is your savings and not gross income that makes you wealthy.

Importance of returns in wealth creation: It is quite obvious that higher the return that your investment earns more is the wealth that you are going to create for yourself. But how high a return is good enough? Well, this again is a question that your financial plan alone can answer. Your investments have to earn a return which is enough to meet your financial commitments.



But at a very basic level, your post tax investment return should at least match the inflation levels just to stay afloat. If the return falls below the prevailing inflation level, your wealth would be eroded or destroyed. The purchasing power of your wealth weakens gradually over time if it underperforms the inflation level. So, inflation would be the floor level that your wealth would have to earn post-tax over time, just to stay where it is in terms of relative value.

 And what is the highest level of return that you can or should aspire for? This will in practice be determined by two factors:

Your risk profile


 What is the level of risk that your financial position forces you to take? If the gap between your present and future is large, you may need to take on quite a bit of risk with your investments in the hope that the potentially higher returns would help you bridge the gap. But even if this gap is large, what if your financial situation is such that you cannot afford to take risk?

 For example, you may have a large amount of loan to repay or your primary, earned income itself is too unstable or uncertain. In this case you may not be able to expose your investments to a high degree of risk. And finally, are you comfortable with the gyrations of the equity market? If your investments are going to keep you awake all night, your wealth would mean little to you. 

Financial prudence


Your risk profile is only one part of your investment puzzle. The other part is about financial prudence. Even if you have the requisite risk profile, is it wise to put all your money in one risky asset? What if the asset underperforms for an extended period of time? What if you need some money at short notice? It is always prudent to spread your investment among multiple asset classes because:

Different asset classes perform differently across time periods.

 Your portfolio downside would be limited as a chance of all assets declining simultaneously is remote.

 Return should always be measured through the prism of risk taken.

A prudent asset allocation pattern that takes care of your risk profile and return requirements could be the secret of your success. You need to allocate your investments among the various assets according to this pattern and more importantly rebalance back to the original allocation periodically. As different assets perform differently during any given time period, your allocation is likely to get skewed towards the strong performer which increases the risk of your portfolio.

Finally, building wealth takes time.

 Just as it takes years or even decades for a seed to grow into a tree, your wealth too needs to be given sufficient time to grow. With adequate time, the magical power of compounding ensures that your wealth is multiplied multifold. As the graph below depicts, this growth is not uniform over the time period but is more back loaded. That is maximum growth happens towards the latter half of the investment period.



Illustration disclaimer: The above example is only for illustration purposes & shall not be construed as indicative yields/returns of any of the Schemes of Canara Robeco Mutual Fund.

 You would notice that nearly two-thirds of the growth in the investment value is in the last ten years of the thirty year investment. It therefore becomes crucial that you start your investment at the earliest and allow compounding to magnify your results over time.

In a nutshell: High earnings alone cannot make one wealthy. It is the discipline and financial prudence in utilizing those earnings which are the true determinants of wealth.
Read More