This Week: May 15th
Read
This article has been on my phone for just over a week now. I will read for a few minutes then something will come up and steal my attention. As I am falling asleep I think “oh, I need to read the rest of that article in the morning”. I wake up the next morning and get pulled in to my to-do list and the various distractions that come up on a daily basis. This article details the importance of mastering your attention and outlines 11 exercises that will strengthen your attention muscle…the irony is not lost on me!
What I took away:
The fact that this article was on my phone for more than a week shows that I am susceptible to losing my focus and bouncing from one task to another. It is empowering to think of attention and focus as it relates to a muscle - you have to build it. You don’t start from 0 and jump right in to 3 hours of focused work. Start small and focus on building that muscle.
Yikes, it takes 25 minutes to get back on track with the original task when we get distracted! Plus the bouncing back and forth between tasks is a mental drain. I experienced that this morning as I was trying to do 3 things at once.
“Incorporating short sessions…forcing yourself to be uncomfortable will make uncomfortable situations more bearable”. I find this to be so true, not just with attention but in life. If we challenge ourselves to be uncomfortable in controlled environments it makes uncomfortable moments that we can’t control or anticipate a bit more manageable. It’s human nature to choose comfort - challenge yourself to be uncomfortable at times.
“At the end of your life, who you’ve become, what you’ve learned and accomplished, and who’s there at the end with you will be the sum total of what you chose to pay attention to each year, day, and hour of your life.” Whew, strong way to finish an article. These exercises will help build habits and a mindset so you pay attention to what/who is most important in your life.
Watched
This is an inspiring video of how people are coming together to help people in need. It’s one thing to say “We are in this together”, it’s another to put it in to action. It helps to have a partnership with a company that can pledge $50,000, but there is nothing too small.
What I took away:
Offer help when and however you can. You may not have the money to help people in need but you might have the time, talent or experience to make a dramatic impact on someone’s life.
You aren’t alone. This time of uncertainty may feel like it’s crushing you. If you are overwhelmed and feel lost, ask for help.
Be kind to one another.
Listened
The ChooseFI podcast is geared towards individuals that are actively (often times aggressively) working towards Financial Independence. The term Financial Independence means that you have enough money in savings and investments to cover your living expenses, meaning you no longer have to work. This is a topic I will be coming back to in the future.
In a broad view it may feel like their content does not apply if you are in a place of financial turmoil; however, I think there are still pieces that are helpful regardless of where you are financially.
What I took away:
Assessing the stability of your job. I’m sure at this point we have all thought: “Am I going to lose my job?”. If you feel like you may be vulnerable, start planning now…even if you are comfortable in your position, take steps to protect yourself from the unknown.
“What you assumed would always be there, simply isn’t”, in regards to income. When things are going well and the economy is strong, it’s hard to imagine that going away. One of the things this pandemic has taught us is that we have no idea when or what will cause the next economic downturn, or even a job loss.
Understanding risk tolerance. The recent market volatility may have tested your comfort level with your current investment risk. If that is you, please don’t panic sell! Speak with your financial planner about your options. Now is not the time to make an emotional investment decision.
Right now, it may seem impossible to have an emergency fund to get you through 1 year (as they discussed), especially if you don’t have an emergency fund at all and are collecting unemployment; but, if you develop a plan and begin working on your habits now, you may surprise yourself.