Seven-Bullet Monday - April 3, 2023
Here is your Seven-Bullet Monday
1. A quote I am pondering:
“When the student is ready, the teacher will appear. When the student is truly ready... the teacher will Disappear.” ― Tao Te Ching
This quote has several lessons for us. One lesson is to be patient as we develop new skills and learn from others. Another is not to be over-confident in our abilities or unteachable. We can and should always learn from those around us.
2. A question I am asking myself:
How do I find my next two mentors?
Mentors can play a crucial role in helping us map out our lives and careers. While it is best to have real personal mentors, there are many incredible people out there, present and past, that we can tap into as virtual mentors through their books, podcasts, shows and blog posts.
3. A book I am reading:
A Painted House – John Grisham
This book is the delightful tale of Luke Chandler, a seven-year-old in a poor cotton-farming family in the early 1950s. The story is set in a long, hot summer when he has to pick the cotton fields every day with his family and migrant workers. During this time, he witnesses two murders and the birth of a fatherless baby. It is superbly told from the perspective of a growing child. We see from his young mind how all these events are seen and understood.
4. What I learnt this week
I can’t dance …… but I’m gonna anyway
Leanne and I watched the Julio Avila Cuban Band with friends this week. It was an evening of cheerful mambo and salsa music, and, with no seats in the house, you were expected to dance Cuban style. I gave it a go, even though I really can’t dance. This was evident when I attempted a Cubanette (a Cuban pirouette 😊) and whacked an innocent stranger with a flailing arm. Leanne took me home soon after that. #GiveMeSpace
5. The highlight of my week
Taking the West Coast Express to work instead of driving
This week’s highlight may seem unusual, but this quiet, no-stops, relaxing 25-minute train ride along the beautiful Burrard inlet in Spring is superb. It replaces a nearly one-hour drive to work and makes me more productive and reflective. There‘s a pleasant walk on both sides of the ride, so my steps are up, and my stress and gas are down. Now, there’s a deal!
Wealth creation happens in two ways. Gradually, then suddenly.”
I adapted this from an Ernest Hemingway quote. He was writing about bankruptcy, but I think it equally applies to wealth creation. The lesson is that building wealth through compounding happens almost imperceptibly at first and then remarkably quickly at the end. If you invest steadily every month over several decades and achieve an average 10% compounded return (the average US stock market growth over time), two-thirds of your wealth accumulation happens in the last fourth of your investing time. Many people give up investing a percentage of their pay because they don’t see the results in the early years. This is unfortunate because the math works, and you only need patience and consistency to score big in those final years.
7. My challenge for you for this week
Set yourself a couple of stretch goals for the next three months
In the spirit of quarterly goal setting, we should all have some targets in mind for mid-year. When setting targets, a good idea is to have some must-dos and some stretch targets, or maybe even a BHAG (Big Hairy Audacious Goal) or two. What kind of goal can you give yourself, ______, that is a little scary or daunting? What would you need to do differently to achieve that goal? Once you figure that out, please write it down, where you will see it daily, and tell someone about it soon. Just those last two steps will help you really go for it.
Have a fantastic week