Nothing is as good or bad as it seems

Hello Earthling,

Welcome to the final quarter of the year.

What will you be focusing on for the next three months? It’s a good time to set clear goals and build a strategy to achieve them.

Antoine de Saint-Exupéry once said that a goal without a plan is just a wish.

Once you have a plan, taking action becomes much easier.

Take it one day at a time.

If you’re looking for a new way to stay on track, try Mindful Planner. It's a weekly, undated digital planner and journal I designed to help you turn your dreams into reality.

Here’s some food for your mind this week:

WELLNESS
Rethinking ‘good’ and ‘bad’

In the past, when something didn’t go as planned, I would default to calling the situation a problem. J told me that not everything unexpected has to be labeled as a problem, they’re simply things that happen in life.

It didn’t make sense to me until I came across the story of the Chinese Farmer.

In the story, a series of events happened to the farmer that his neighbors labeled as good or bad.

The farmer had a different perspective.

Whenever an unfortunate situation happened, he remained calm and neutral. Over time, the unfortunate situation turned out to be a blessing.

The meaning we assign to situations can shift with time.

Can you recall a time in your life when a seemingly unfortunate situation led to something positive?

⭐️ This week’s challenge:

1. Practice non-judgemental observation. Challenge yourself to observe situations without immediately assigning them a positive or negative label.
   

2. Embrace change with openness. Work on accepting change with an open mind without resistance or attachment to specific outcomes.
   

3. Reflect on past events with fresh eyes. Think about a past situation that you labeled ‘good’ or ‘bad’ and try to reevaluate it with a fresh perspective. Does your initial judgment still hold true?

FINANCIAL WELLNESS
Navigating Investment Risk

Investing comes with some degree of risk. The more risk you take, the more you can potentially lose or gain.

When markets are trending higher, it’s easy not to think about risk. You might even overestimate your tolerance for it.

Recall March 2020, when the stock market crashed. If you owned stocks then, did you feel compelled to sell everything in a panic, or did you see the event as a buying opportunity?

Reflecting on those moments can reveal your risk tolerance.

It's instances of market turmoil that test our comfort level with risk and help us understand how we might react in the face of uncertainty.

✨ Tips for Navigating Risk

1. Understand the role of luck. Your efforts and decisions do not entirely determine your outcomes. Luck and risk are said to be two sides of the same coin. “If risk is what happens when you make good decisions but end up with a bad outcome, luck is what happens when you make bad or mediocre decisions but end up with a great outcome.” - Morgan Housel
   

2. Determine how much time you need. Certain investments have a higher risk profile because of the time it takes for the upside to play out. Invest in assets that align with your time horizon.
   

3. View your losses as fees instead of fines. Even if you’re investing over a long period, you’re not exempt from short-term uncertainty and market volatility. To deal with market declines, it can be helpful to think of volatility as a fee instead of a fine.
   
   
   Disclaimer: The views expressed in this newsletter are for informational and recreational purposes only. Nothing contained in this newsletter should be construed as investment advice.

INTERESTING FINDS
What’s New

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🎧 The Danny Miranda Podcast. Need a dose of inspiration? Dive into Danny Miranda’s thought-provoking conversations with entrepreneurs, creatives, athletes, and thought leaders. You’ll gain fresh insights and actionable advice from every episode.