WISHING YOU A MERRY CHRISTMAS AND HAPPY HOLIDAYS!
Disclaimer: Good Day, Readers. WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations.
WISHING YOU A MERRY CHRISTMAS AND HAPPY HOLIDAYS
We are welcoming two new and BEAUTIFUL readers in 2023! Congratulations, Chris and Xenia, greeting a beautiful daughter, Celeste. And congratulations, Jake and Jen, welcoming their third basketball team (finally someone who will pass the ball) recruit, Brianna.
At the beginning of 2023, I heard Financial TV Talking heads shout, “RECESSION, WARNING WILL ROBINSON, RECESSION!” You might have to sell your kids!” I thought unkindly, some would be lucky to collect a dime!
I have learned when the market is in trouble – take a breath and do nothing. I held all my holdings. The virtue of SITTING TIGHT! The S&P 500 is up ~23% in 2023, and the Nasdaq is up a stunning ~40%.
I’m wrapping up 2023 blogs with wise words from a man I enjoyed learning from – Mr. Charlie Munger, who left us in 2023 at 99.
SITTING TIGHT:
“There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2, or 3 percentage points per annum compounded.”
MASTERING OUR EMOTIONS:
“A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. And that is why we say that having a certain kind of temperament is more important than brains. You need to keep raw irrational emotion under control. You need patience and discipline and an ability to take losses and adversity without going crazy. You need an ability to not be driven crazy by extreme success.”
SUCCESS:
“It’s so simple. You spend less than you earn. Invest shrewdly, and avoid toxic people and toxic activities, and try and keep learning all your life, etcetera etcetera. And do a lot of deferred gratification because you prefer life that way. And if you do all those things, you are almost certain to succeed. And if you don’t, you’re gonna need a lot of luck.”
OLD AGE AND LIFE:
“The best armor of old age is a well-spent life preceding it.”
I wish you a joyous holiday season and a prosperous New Year!
Warm regards,
Styron
WHAT SUBJECTS DO YOU WANT TO READ MORE ABOUT? WHAT QUESTIONS CAN I ANSWER? UNTIL NEXT TIME!
LET’S MAKE SOME MONEY – CRYPTOCURRENCY IS ACCEPTED!
YOUR GREATNESS IS NOT WHAT YOU HAVE; IT’S WHAT YOU GIVE!
BECAUSE I CARE!
St Jude Hospital: The mission of St. Jude Children’s Research Hospital is to advance cures and means of prevention for pediatric catastrophic diseases through research and treatment. Consistent with the vision of our founder Danny Thomas, no child is denied treatment based on race, religion, or a family’s ability to pay.https://www.stjude.org/
Wounded Warrior Project: An American charity and veterans service organization that offers a variety of programs, services, and events for wounded veterans of the military https://www.woundedwarriorproject.org
Folds of Honor: Providing life-changing scholarships to the spouses and children of America’s fallen or disabled military. And now, our mission expands to the families of America’s first responders. On our watch, those who protect our freedoms and our families will know they are not forgotten. https://foldsofhonor.org
Wilson’s No-Kill Animal Shelter: A N0-Kill shelter that is a top-rated non-profit. They compassionately care for all their animals. https://wcnkas.org
Tunnel To Towers: Since 9/11, we have been helping America’s heroes by providing mortgage-free homes to Gold Star and fallen first responder families with young children and by building specially-adapted smart homes for catastrophically injured veterans and first responders. We are also committed to eradicating veteran homelessness and helping America to Never Forget September 11, 2001. https://dogood.t2t.org/give/320847/#!/donation/checkout
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MOM/DAD, CAN YOU SPARE FIFTEEN MINUTES A DAY TO HELP YOUR KIDS LEARN? FIFTEEN MINUTES – THAT’S ALL, FOLKS!
MOTIVATING YOUR KIDS TO SAVE AND INVEST! YES, YOU CAN!
YOUR GREATNESS IS NOT WHAT YOU HAVE; IT’s WHAT YOU GIVE!
YOUR GREATNESS IS NOT WHAT YOU HAVE; IT’S WHAT YOU GIVE!
FORGET WHITE RECKONING TO ADDRESS RACIAL INEQUALITY – WE NEED GOOD ECONOMIC POLICY
https://wealthbuildingpowers.com/2022/03/28/we-do-not-need-white-reckoning-to-address-racial-inequality-we-need-good-economic-policy/
WE NEED MORE STEM MAJORS AND LEGACIES LIKE MYLES JOHNSON!
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A RAINBOW OF ROLE MODELS {WEDNESDAY SERIES} – LEGENDARY INVESTOR JOHN ROGERS JR
https://wealthbuildingpowers.com/2022/03/09/black-and-brown-role-models-series-legendary-investor-john-rogers-jr/
BLACK HISTORY MONTH ROLE MODELS {SERIES} – ROBERT L. JOHNSON, FOUNDER BET – FEBRUARY 24, 2022
BLACK HISTORY MONTH ROLE MODELS {SERIES} – JAMES AND JILEA HEMMINGS BECOME THE FIRST AFRICAN AMERICANS OWNERS OF AN AUTONOMOUS GROCERY STORE – ON FEBRUARY 25, 2022
https://wealthbuildingpowers.com/2022/02/25/black-history-month-role-models-james-and-jilea-hemmings-become-first-african-americans-owners-of-an-autonomous-grocery-store-february-25-2022/
BLACK HISTORY MONTH ROLE MODELS {SERIES} BILLIONAIRE ROBERT F. SMITH – FEBRUARY 23, 2022
BLACK HISTORY MONTH ROLE MODELS -REGINALD LEWIS – FEBRUARY 22, 2022
https://wealthbuildingpowers.com/2022/02/22/black-history-month-role-models-reginald-lewis-february-22-2022/
WHAT WE BECOME DEPENDS ON WHAT OUR FATHERS TEACH US AT ODD MOMENTS, WHEN THEY AREN’T TRYING TO TEACH US”
https://wealthbuildingpowers.com/2021/11/03/what-we-become-depends-on-what-our-fathers-teach-us-at-odd-moments-when-they-arent-trying-to-teach-us/
DADS WHO RAISED ME TO BE MORE THAN I COULD BE!
DADS WHO RAISED ME TO BE MORE THAN I COULD BE!
Jamie Dimon, Chairman and CEO JP Morgan Chase and Company, 2021 Letter to Shareholders
The Oracle of Omaha’s Investment Strategy Explained
WARREN BUFFETT’S NET WORTH IS DRIVEN BY THESE IRONCLAD TEN RULES
WANT TO LEARN HOW TO BECOME WEALTHY – READ “THE MILLIONAIRE NEXT DOOR”
LEARNING FROM INTELLIGENT MINDS – IS MANDATORY!
THE ONE BOOK YOU SHOULD READ…….
FINANCIAL LITERACY IS JUST NOT THAT COMPLICATED – TRUST ME!
https://wealthbuildingpowers.com/2019/04/01/financial-literacy-is-just-not-that-complicated-trust-me/
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ABOUT ME
I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger with an N.C. State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.
I left a corporate career because I desired to make a difference as a speaker and writer. I was blessed to be coached and mentored by strong women and men in my family and professional life. It is my time to serve and give back.
DISCLAIMER
I started my first business at ~13 years of age (a small but brilliantly created plant nursery). I am a successful investor in stocks, options, real estate and am happy to share my finance and investment lessons. I am NOT a licensed financial advisor. Please do not construe my suggestions on this blog as recommendations for your situation. As an investor, you must establish your risk/loss tolerance. Investment in any asset involves risk, including complete loss.
Please seek your licensed CPA or fiduciary financial advisors for individual financial advice.
I write this weekly blog to make an impact by reaching an audience and demonstrating the need for financial literacy. I will help you get there.
