Are You Evolving or Just Observing?

Author

Todd Ballenger
October 11, 2024

❝

”Grasp the subject,
the words will follow.”

Cato The Elder

Are You Watching Others Change?

Am I the one who is changing, or do I find myself watching others change? Change is hard, and one of my favorite definitions of a miracle is anyone doing something they hadn't previously done before. Think about that for a moment. How many truly spontaneous moments do you have in a day? A moment where you say something you've never said before to a prospect or client, you take a left at a street where you always take a right, or you reconsider who you are and what you do for others in your career?

Labels are powerful, calling yourself anything either limits you or expands you. Call yourself a mother and you've limited yourself into a role humans play. Call yourself an educator and you've expanded the role a salesperson plays. We are always using labels in our mind to define ourselves, and the challenge then becomes breaking out of the bondage that label creates.

Think of each breath you take, every move you make, every bond you break, every step you take (borrowed from The Police), but you get the idea... every moment you are recreating your image, either expanding it, or limiting it. If you want to know what your life will be like in a year, five years, twenty years + for those of us playing the long game - simply ask yourself what are you doing today that is different from yesterday? What one small thing am I being exposed to 'today' that is helping me upgrade the label I use for myself?

I love this video, it is palpable how a small moment of touching a single block leads to a bigger and bigger expanding. Something was built and then something is destroyed. Everything compounds!

The reality is that all change starts this way. It doesn't have to be a big act, those typically exhaust you anyway or scare you from really engaging. You are far better off doing something small you've never done before, and keep doing those somethings every day, as a small act builds momentum you'll start seeing the miracles (the little things that you do that you didn't do before start adding up). Again, they compound over time.

Ask yourself: Am I the one who is changing, or do I find myself watching others change? Do I justify there is nothing to change?

If you can't change, you have a strong opinion you wont let go of. This is me, this is who I am. I don't do that. I do this. Others can do that but not me. I don't understand that. This is what I do.

Challenge yourself - but don't start trying to eat the whole can of Pringles... maybe today you open the can. Tomorrow you eat a Pringle. Then watch the whole can disappear. Especially if you keep finding yourself watching others change.

a BORROW SMART CONCEPT
Budget / Smudget - the 50-30-20 Rule

If you have someone that is starting out, or you’ve been meaning to regain control of your finances, try this simple concept.

Take your income and divide it into 3 groups:

50% of my income is my budget for housing, groceries and necessities.

30% of my income is for discretionary fun, eating out, etc.

20% of my income is for future spending

It’s a simple hack, but I’ve used it with younger first time homebuyers, when they ask how much should I spend on a house? A broader and more engaging answer is to give have them do this exercise and see how it compares to what they ‘think’ they are doing now. You are moving from a lender to a financial educator by providing simple guidelines that provide direction but also let them discover what they should be doing.

Remember, people appreciate what they discover more than what you tell them!

from Ritholz - this is how the details fall into the above!

THERE IS A LOT OF UNCERTAINTY IN THE WORLD RIGHT NOW,
A LITTLE CLARITY GOES A LONG WAY

LIABILITIES and DEBT
What’s Happening.

mortgage still being paid on time

insurance premiums are becoming more of a challenged for consumers
from Calculated Risk

average increase is 50%+ from Calculated Risk

MOVE INDEX - rate volatility is increasing as expected

from Brent Donnelly = we are getting back into the zone where that might simmer down

my advisor friends asked me to show this so they can keep a feel for rates

REAL ESTATE
What’s Happening?

improvement from prior week - we are stabilizing in positive territory for last 4 weeks

HOUSE PRICES UP 50% IN 4 YEARS

some bubbles are bigger than others

listing still rising

there are more Realtors than there are listing in the US

“The only constant in life is change." 

- Heraclitus

ASSETS and INCOME
What’s Happening?

The two big dynamics are jobs and inflation!

markets do well with lower rates IF no Recession

Jobs tell us if a recession is coming and they are down, then up

but optimism is on the down swing

and lower rates are a fertile ground for more inflation

the job growth in narrow

and more people are starting to look for jobs

overall the bull market is young, but I’ll get more defensive in January

right now it’s a bull market, so don’t be stupid… (talking to myself)

interesting look at marginal tax rates by income levels…

“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”

- Charles Darwin

ON BEING HUMAN
What’s Worth Sharing?

Can’t Sleep - TingTing to the Rescue

We are what we read and who we spend our time with: Jim Rohn

DOPAMEMES
And Other Happy Moments…

I love New Order, so I love this!

Another fun watch if you like goosebumps!

Artificial Intelligence
And the Future of Work…

Three Chrome Extensions I use Daily:

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