Wednesday, November 25, 2020

What Can You Do For Your Country

 


"Ask Not What Your Country Can Do For You..." -John F. Kennedy

Events that transpired in the United States is proof that their Government has become too big and too little is done by the citizen to insure that they're functioning within acceptable limits. It is my personal belief that too much power was given to an individual that shouldn't have it to begin with and when he abused this power not enough was done to stop him.
This problem doesn't fall on the Government as they are only the representation of the people. It falls on the people to insure that their Government is as just as it can be.

If it falls on the people then what can the people do?

  • The People needs to educate themselves and I'm not talking about Degrees or Certifications here. It's all about having an understanding of the economy, laws, politics, philosophy, psychology... it's about understanding that self-improvement goes beyond the realm of a career.
  • Getting involved in politics. This doesn't necessarily mean that you need to represent a party but it does mean that you need to pay attention to what they're doing and to voice your concerns when appropriate.
  • Take responsibility. Instead of saying "The Government should do this, or that...." take responsibility over these things and make the change yourself. Sure, Governments can take care of everything but it'll always cost more, not be as effective, as someone from the private sector doing it.
The Governments have been given a free pass long enough. We need to educate yourself and take an active part in politics to insure we're doing things as best as we possibly can.


Wednesday, November 18, 2020

Thinking Vs Memorizing

I'm currently reading John Stuart Mill's autobiography and was surprise to learn that there was a great deal of his youth spent studying many of the classics. This endeavor was the work of his father who paid special attention to the education of his children. What surprised me the most was the fact that John Stuart Mill's father understood the difference between memorizing facts and thinking - he made a point to focus on the later.

Going through this autobiography has made me realized that a great deal of my own self-education was spent merely memorizing facts (just like I was thought to do in school). In-fact, I was reminded of an event that occurred roughly 10 years ago where one of my friends said to me "everything you know comes from a book - you don't think about anything!" Only in recent years have I begun formulating my own thoughts regarding what I'm learning  and it's made me more picky about what to read, or learn about, next.
Obviously, we all need to start somewhere and when we first start on our self-education journey it's mostly going to be about memorizing, what we consider to be, important facts. What helped me move, slowly, away from memorizing to thinking is writing. When I write about something, it forces me to think about it and, over time, you come to realize that a greater deal of your time is spent thinking about what you've learn than only memorizing it.

The real purpose of self-education is to sharpen your thinking - not memorizing facts. The transition between the two can take some time.



Wednesday, November 11, 2020

Financial Stability Highlights



Finances isn't something that is thought, at least not too heavily, in school and many of us only learn about financial principles "the hard way" which moves us away from financial stability. The following highlights are things to help you gain financial stability.
  • Have a budget.
  • Get out of debt.
  • Invest in yourself.
  • Know the difference between Asset/Liability. 
  • Know the difference between TFSA/RRSP.
  • Know what inflation and depreciation is.
  • Know the difference between ETF/Mutual Funds.
  • Have an investment portfolio both with a financial advisor/fiduciary and yourself.
  • Turn a hobby into a side business.
  • Know the difference between Term and Permanent "Critical Illness, Longer Term Disability, Life Insurance" policies.
Each of the above points could of been elaborated, and I've elaborated on a few already in previous post, but you'll get more out of it if you do your own research on them. The following are suggestions of where you can get the information you need:
  • Cashflow Quadrant book by Robert Kiyosaki.
  • Financial Fitness course by Life Leadership.
  • Money Master the Game book by Tony Robbins.
  • Financial Advisor/Fiduciary.
  • Misc. Trusted source online.
Generally speaking, it's best not to ask your entourage for financial advice because chances are that they're broke. Only take information from those that have the results that you want in life.


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