goals

Putting Compounding To Work

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“Compound interest is the eighth wonder of the world. Those who understand it, earn it… those who don’t… pay it.”  ~ Albert Einstein

When we invest money, the interest we earn on that money also earns interest for us.  Over years of consistent investing, the interest-earning-interest can wind up being a significant sum.  While we might not see big results right away, the impact of compounding will soon become significant. This is the concept of compounding interest.

Here’s thing about compounding that most people don’t realize… it’s just as effective in other areas of life beyond finance.

The healthy habits we intentionally develop, and continue to practice year over year, yield desired results.

  • A healthy diet yields good health
  • Healthy spending habits yield control over your finances
  • Healthy saving and investing habits yield financial freedom
  • Continuous learning exposes you to new ideas and fresh perspectives

Here’s one more thing most people may not realize about compounding… it can also work against you.  Compounding is not limited to yielding increasingly good results.  Our bad habits, practiced year over year, can unintentionally yield undesirable results.

  • A bad diet yields poor health
  • Poor spending habits yields a consistent lack of money and debt
  • Failure to save and invest yields financial insecurity and potentially poverty
  • Deciding not to learn lead to becoming stagnant, outdated, and irrelevant

The most important thing we can know about compounding is that it will do its work in our life whether we invite it to or not.  The most important thing we can do with regard to compounding it to make sure we’re putting it to work for us.

ACTION:  Develop and regularly practice the habits that will compound to bring you the results you seek.

Giving Attention

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Here’s a quick mental exercise. See if you can think of an area of your life that gets better instead of worse as a result of being neglected. Here my attempt at a list and whether or not these areas get better when neglected:

  • Relationships – No
  • Health – No
  • Finances – No
  • Career – No
  • Family – No
  • Personal development – No
  • Possessions – No
  • Outlook on life – No
  • A garden of wild weed – Yes

Most areas of our life don’t get better as a result of neglect, they usually get worse. I know, that’s obvious, but here’s what may not be so obvious. While we may not intentionally decide to neglect an important area of our life, neglect is what happens when we fail to give something our attention.

To make something better, or to at least keep it good, requires our effort and attention. With so many things clamoring for our attention it’s essential that we purposefully give attention to those important areas of our life, lest they be unintentionally neglected.

A Post Election Reminder

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The 2018 mid-term elections are over (thank goodness!). While I don’t know whether you’re happy with the results or not, I do want to make you aware of a very important person who is still in power… YOU.

YOU are the person with the power to create the life you desire. No political party, or person in office has more power to positively impact your life than YOU do.

So no matter who “won” politically as a result of the election, YOU still retain power over yourself and your choices.

Let’s use that power wisely.

The Responsibility of Imperfection

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Here’s a piece of information I find liberating: None of us are perfect, nor are we expected to be. While I make an effort to do my best at whatever it is I’m doing, in my imperfection I often miss the mark, screw up, or fall short.

While knowing that I’m not perfect frees me up to try, fail and improve, knowing that I’m imperfect also reminds me that with imperfection comes responsibility. When we screw up or say the wrong thing, or a host of other things imperfect people do, we should be quick to:

  • Apologize to those we’ve hurt or negatively impacted
  • Own our mistakes instead of giving excuses or looking for someone else to blame
  • Ask for forgiveness when needed

We should also be quick to avoid expecting perfection from others and be equally quick to show grace to others when they fall short, because isn’t that what we’d like from others?

Let’s work at being responsible with our imperfections, and graceful to others in theirs.

Several Little Things

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We’ve all seen stories about people who achieve a remarkable feat like living to 100 years of age, being married over 50 years, building a successful business, or a number of other worthy accomplishments. Invariably, these people are asked, “So what’s the secret of your success? What did you do to achieve what you have?” Usually people respond with one or two things that they attribute to their success.

I don’t think that’s quite accurate. Very rarely is success achieved by doing just 1 thing. Success in any venture is often the result of consistently doing several little things.

Here’s what got me thinking about this…

Earlier this week I went to see the doctor for my annual physical (Good times!!). Everything looked good and my doctor told me I was doing a good job with regard to my health. At one point he asked me what I do to maintain good health. I responded with something like exercise and drink water. After I left the doctor’s office I realized that good health is achieved by more than just exercise. In addition, it’s important to also:

  • Eat a healthy diet
  • Avoid alcohol and drugs
  • Get the proper amount of sleep every night
  • Avoid excess sugar consumption
  • Fill your mind with positive content
  • Reduce wasting significant time with your face buried in a computer/phone screen
  • Take the stairs instead of the elevator
  • Spend time with people who charge you up
  • Spend time reading instead of watching TV
  • Continually learn new skills
  • Regularly get out of your comfort zone
  • Do some physical activity every day

And that’s just the start!

It’s not just one thing that causes people to be successful. It’s the discipline to consistently do the little things that move you toward success.

Is there something you’d like to achieve in your life? If so, the best way to make progress is to consistently do the little things that seem to have no immediate impact. Begin doing those little things as part of your daily routine and you’ll be amazed at the progress you can make in a month, year, decade, or lifetime.

Work Before Play

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I love weekends! After a busy week of work, it’s nice to spend the weekend playing. To ensure I get the most out of each weekend, there are 2 tasks I like to have completed before I go to bed on Thursday evenings. They are:

  1. Mow the lawn, when seasonally applicable
  2. Have my weekly blog post written and scheduled to post

The reason I like these tasks done by Thursday evening is because I enjoy the feeling when I arrive home Friday night to a freshly mowed lawn knowing that my weekly blog post is already completed and teed up to be posted on Saturday morning. Since I’ve already done this work, I don’t have to waste precious time on the weekend to complete them.

There’s something satisfying to me to go into a weekend, or on vacation, or to an event knowing that I don’t have a bunch of unfinished tasks waiting for me when it’s over. A little work ahead of time sets me up mentally for stress free enjoyment of whatever it is I’m doing.

I’ll admit that it takes a little planning and discipline to get work done before playing. However, it’s not hard to find the motivation when you realize that if work is handled first, you won’t have to cut the fun short in order to do the work that wasn’t completed ahead of time.

Are there areas of your life where you could benefit from getting your work done before playing? If so, make the effort to successfully get your work done first. Then, get out and enjoy yourself without the burden of uncompleted work in the back of your mind.

Face It 

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We’ve had a busy week at our house.  One filled with unpleasant trips the dentist and unexpected visits to the veterinarian for a sick cat.  Neither of these events has been very enjoyable, but what they’ve lacked in joy, they’ve made up for in unexpected expenses!  Regardless, unexpected events are a part of life, and when they occur, we have a choice.  We can run from them, ignore them, or face them.

Unexpected events, especially when more than one of them occurs at the same time, can feel overwhelming.  When we’re overwhelmed we may feel like ignoring or putting off what we know we need to do.  While this may sound good in the short term, failing to act only prolongs the situation.  I think it’s best to face it and take the action we know we need to take.  It’s ok to be overwhelmed, and nothing says we have to enjoy unpleasant experiences, but after we’ve had a moment or two to be feel overwhelmed, it’s time to face it.

The best way to get through a bad situation is to face it and start moving toward a solution.

Enhancing the Experience

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My wife and I were extremely excited to see the production of Hamilton when it came to Portland Oregon earlier this year. One thing that enhanced our enjoyment of the production was the preparation we did prior to seeing the show.

About a year before Hamilton came to town, we began listening to the soundtrack and getting familiar with the story. We also did some additional research like reading books about Alexander Hamilton and early American history, as well as watching documentaries about his life. By the time the show arrived, we were eagerly expecting it and had learned a tremendous deal. The effort we put into learning about the Alexander Hamilton greatly enhanced our enjoyment of the performance.

I think there are a lot of ways we can prepare for experiences that will enhance our enjoyment of them. For instance, we can:

  • Learn about the history and attractions of a new location prior to traveling or moving there.
  • Research an employer and its employees before a job interview.
  • Read about how to effectively communicate with others in social settings.
  • Maintain good physical health so we can enjoy physical opportunities that come our way.
  • Spend time practicing before a public performance, whether it’s playing an instrument, giving a speech or a presentation.
  • Find out what is of interest to people you spend time with and be aware of that the next time you see them.

I’ve found that a little preparation enhances most experiences. To put it another way: I’ve never been disappointed that I spent time preparing for an experience.

Are there any upcoming experiences you have that you’d like to potentially enhance? If so, invest some time preparing yourself to get the most out of that experience. A little preparation will make the difference between a good experience and a great one.

Getting A New Perspective

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I was starting to get stressed.  Just days away from going on vacation, I still had a big task I needed to complete at work before I left, and it didn’t feel like I was going to get done in time.

Four days before vacation, a colleague who is working on the same project stopped by to see how it was going.  I told him that I didn’t think I’d’ be able to finish my piece of the project before I left.  As I told him about what I had left to do, I could see he was thinking.

After I was done describing what I believed needed to be done, he started asking about what absolutely had to be done at this stage of the project.  As we talked through it, I realized my focus was placed too far out for this stage of the project.  We didn’t need a 100% finished product; we just needed some basic functionality that could be delivered to the end users as a first iteration.

With this new perspective, I realized that I’d easily be able to deliver my portion of the project before I left for vacation.  In fact, I was able to deliver with 2 days to spare!

I’m so thankful my colleague came by and gave me a different perspective.  Our conversation and his suggestions shifted my focus toward what needed to be done at a specific stage in the project, rather than what needed to be delivered as a finished product.

Are you stuck in a false mindset or stressing about how to get something done?  I suggest talking to a friend, colleague or someone else who can give you a new perspective on your situation.  You might just realize that you’re stressing out for no reason.

Dig In

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I was recently practicing bass guitar in preparation for playing on my church’s worship team. There was a specific part of one song that I kept having trouble with.  For some reason, I couldn’t rhythmically understand how a series of note were to be played.  I could hear it when I listened to the song, but I couldn’t make it happen when I actually tried to play it.  It was time to dig in!

First, I wrote out the notes I was to play. Then I played those notes several times in the order they were to be played.  This helped me become familiar with what I was supposed to be playing.  Next, I listened to this section of the song at a much slower speed over and over as I counted out what beats the notes fell on.  Every time I figured out what beat a note fell on, I’d write it down so I could move on to the next note without forgetting what I had just learned.  Once I had determined what beats all the notes fell on, I was able to begin playing along with the song at normal speed.  From here I continued to practice what I learned until it became familiar.

It can be like that for problems we struggling with. Sometimes what we need to do is do a deep dive on what we’re struggling with and give focused energy into figuring it out.  This may involve slowing down, breaking our problem into pieces, addressing each piece separately, and then reassembling these pieces into what will be a solution to our problem.

Think of some problem you’re struggling with or a concept you’re having a hard time grasping. Perhaps you could benefit from devoting some focused attention toward figuring the problem out.