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Gambling vs Investing

Written by Barbara Huson

I’ve often heard people say: “Investing is no different that gambling.”

Au contraire. There is a big distinction between gambling and investing.

Gambling looks like this:

  • Buying stocks or bonds willy-nilly,
  • Following a hot tip
  • Purchasing the hottest fund,
  • Trying to time the market (buying when it’s high, freaking out and selling when it plunging),
  • Deferring decisions to another and sticking your head in the sand.

Investing, on the other hand, looks like this:

  • Creating a financial plan based on your goals and risk tolerance
  • Building a diversified portfolio, based on the plan.
  • Adhering to the plan until something changes.
  • Making decisions supported by your plan not your emotions.

If you don’t have an idea of where you want to end up, it will be far more difficult to make the right decisions. Which is exactly why I created One Year to Wealth…Becoming a Savvy Investor. If you want to become a Savvy Investor in 2017, join me for this year long course. Learn more.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

One Year to Wealth

Are You Investing in Yourself in 2017?

Written by Barbara Huson

Last week, I shared the simple formula that I used to become a Savvy Investor.  If you missed the free webinar, One Year to Create Wealth…In One Simple Step a Month. You can listen to the recording here. I’ve had a ton of feedback letting me know how helpful it was. I’m delighted!

But, believe me, I know how the mere thought of investing can seem daunting…if not impossible. I know how easy it is to go into avoidance.

The key is to make a commitment, invest in yourself, and find support to hold you accountable.

That’s why I created One Year to Wealth: Becoming a Savvy Investor. I will show you how to take charge of your money and your life…how to become the Powerful Woman you were born to be.  And I want to make sure you get all the support you need. I want to be right there holding your hand.

My goal is to show how simple (and fun!) investing can be by breaking it down into very small chunks. I want YOU to know the enormous freedom, immense security, the incalculable peace of mind and the unbelievable confidence that I now experience.

The first step I shared is Commit. If you are ready to take that step, you can join me in a very powerful full year class: One Year to Wealth: Becoming a Savvy Investor.

This class will only be offered once in 2017. We’ll kick-off on January 24th with a special live Set Your Intentions call.

You can learn more about One Year to Wealth here

I’d love to take this journey with you, to support and educate you as you become a Savvy Investor.

Are you ready to invest in yourself?

Here are some of last year’s One Year to Wealth participants who shared their stories. Can you relate?

“I continue to feel so grateful for this course and for everything it has helped me with. For starters, I wanted to feel confident to invest my 401K funds in the best way, and understanding what I’m doing with it. That was my reason for joining the course and it has been fulfilled in a beautiful way.
Further, I never had a clue that I was going to have my whole financial world, worries and all, be completely shifted into calm and confidence. My outlook is so joyful now on how to maintain a cash flow budget so I know that I will always have a positive balance, especially while paying the max to my credit card balance. I don’t feel deprived, and I feel that the discipline makes me feel abundant and money has value now. I don’t hold back when I want something, but I keep looking at it before making a move, asking, is this worth it? Is it more important than paying this to myself? (without judgment). Sometimes it is worth it, and then I get it with no guilt, which always used to follow purchases of any kind. And I’ve already paid off half the credit card debt that had been carrying for some years. The rest is all in 0% interest cards and being paid off rapidly.” ~~Monica

“Every now and then life presents us with a game changer. Barbara is such a person. One Year to Wealth , for me, marked a new beginning. Barbara handed me the tools to discover how my mind approaches money, how money fog works and when it arises and when old stories dictate my approach to money today. After almost a year of One Year to Wealth I feel equipped to talk about money ( I never did), to approach finance professionals ( I never dared) and to manage my assets ( I never even knew them.) Within the supportive and exciting environment Barbara created, it became possible to see my emotions as a part of my money story. With the course almost done, there is no end in sight. My money explorations have only just begun and they will last a lifetime. My role, going forward, is clear: to nourish myself, my family and the world. All emotions are welcome! Thank you!!!” ~~Katherine

“I felt the desire to tell you I am in tears of joy in how my life has changed this year, and that I am now a part of a wonderful future.  I am so thankful for OYTW and look forward to continuing with each level of Barbara’s offerings as I stretch.  It is a whole new world.” ~~Pam

 

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Investor, Know Thyself!

Written by Barbara Huson

“If you don’t know who you are, the stock market is an expensive place to find out.” Adam Smith

You know what your biggest market risk really is? Not volatility. It’s YOU. Or rather YOU acting on emotions.

Any decisions based on fear or ignorance are never good in the long run. Their only purpose is to defuse tension so you feel better in the short term.

Research studies prove that people, you and I, hate to lose more than we love to win.

So, when markets correct (go down 10%), which they do quite regularly or when markets crash (fall 20% or more) which they do every so many years, our emotions, especially fear, take over. And we make very bad choices.

It also happens in reverse. When the market is on a run, there’s a tendency to take on too much risk. And follow the herd…like so many did during the tech boom and real estate boom.

That’s where knowledge—of the market AND of yourself—plays a critical role. The more you know about the way investing works AND what makes you tick, the easier it is to separate from the herd, manage your emotions, and make wise investment decisions.

Want to learn more investments and yourself? Join me for my year-long course One Year to Wealth…Becoming a Savvy Investor. Click here to learn more.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

 

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The Ultimate High

Written by Barbara Huson

It was a conversation I’ll never forget.

Soon after I sold my first book, Prince Charming Isn’t Coming: How Women Get Smart about Money, I flew to New York and had lunch with my editor. As we munched on our salads, I casually asked if she ever invested.

“Oh no,” she said, emphatically. “I have no money.” I could see she was embarrassed, so I dropped the subject.

A year after my book hit the stores, she called to confess.

“Remember that lunch when I told you I had no money,” she said. “Well I did, but it was all sitting in cash in my 401 (k). After working on your book, I realized how foolish that was. So I started educating myself, found an advisor, and it’s now fully invested. I even collected my spare change in a jar every night, and I’ve invested that too.”

She paused a moment, then added: “I watch the market go up and down, but I’m in it for the long haul, so I’m not worried at all.”

I practically jumped out of my chair in excitement. But then she said what I hear all the time from women when they finally take financial responsibility.

“I have to tell you, Barbara, I feel so powerful.”

Those four words captured the essence of my life’s work; why I’m so passionate about helping women financially. Sure, I want them to prosper. But more importantly, I want every woman to realize that by taking charge of her money, she’s taking charge of her life. The incredible sense of power this brings is the ultimate high.

And some of you know exactly what I’m talking about.

But if you’re like most women, the thought of investing feels more like climbing Mt. Everest–totally daunting, if not downright impossible. Actually I suspect some of you would rather take on the mountain than tackle the markets.

I know the feeling. I spent most of my adult life in a financial fog, letting my husband–a stockbroker turned compulsive gambler (really!)–handle our finances. I was too scared, felt too stupid, to take charge. Of course, he lost almost everything. We got a divorce. He left the country. My father wouldn’t lend me money. I got the message. I wasn’t going to raise my 3 young daughters on the street. I had to do something…fast.

I tried to learn. I went to classes, read books, but my eyes would glaze over, my brain would fog up. I figured I was terminally stupid.

Then I made a very wise decision. I gave myself a year to learn about finances. And I’d do it my own way. I’d not only study the facts, I’d also explore my fears. So while diligently doing the outer work, I dove deep into the inner work, combining the practical with the psychological.

And it worked. I became a savvy investor and successful wealth builder. If I had to sum up what I learned, it would be this: Wealth doesn’t come from what you earn, but from what you do with what you earn.

  • You build wealth by following the 3 Rules of Money: Spend Less, Save More, Invest Wisely.
  • At least some money must be invested in assets (stocks, bonds, real estate) that grow faster than inflation and taxes can take it away. – Investing is a lot simpler than you think (though there’s a whole industry trying to convince us otherwise!).
  • It doesn’t take a lot of money to create wealth or a lot of time to get smart.
  • And though it’s best to start when you’re young, it’s never, ever too late to begin.
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Taking Risks. Building Trust.

Written by Barbara Huson

Financial Success demands 2 things of you:

  • You must take risks
  • You must develop self-trust.

Without taking risks, you will forever be a victim, live in mediocrity…and play small.
Without trust, you will forever live in fear and self-protection…and play small.

Risk and Trust work in tandem. Every time you take a risk, even if you fall down (and you will fall down), if you get back up and keep going, learning from your mistakes until you eventually succeed, you’ll learn to trust yourself.

I really believe the financial risks necessary to create wealth, combined with the personal risks necessary to achieve Greatness, exponentially strengthens your level of trust in yourself.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

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Never Invest Unless…

Written by Barbara Huson

Decades ago, soon after I divorced my gambling husband, a friend of my father’s called. He told me about a Limited Partnership he was forming, TJ Cinnamons (A fast food place).

I had no idea what a limited partnership was, but this man was very wealthy, very smart, very successful, so it had to be a great thing, right?

I didn’t know that you can’t take your money out of a limited partnership because there’s no market for it. When TJ Cinnamons went under, I lost my investment.  Then I made a very smart decision. I vowed I’d never invest in anything I didn’t understand.

I’ve come to call this the First Law of Investing: Never put money in anything you don’t understand, whether it’s a stock, bond or the market itself. Not only do you not know what you’re buying, but you can’t evaluate the information to know if it’s time to sell.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

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The Psychology of Affluence

Written by Barbara Huson

Scott Fitzgerald once said to Hemingway “The rich are different from you and me.” To which the other author replied: “Yes, they have more money.”

True. But the more important question is: Why do they have more money?

The reason, I believe, is that the rich think differently.

I grew up wealthy. I’ve talked to thousands of affluent women. I’m not talking about highly paid celebrities that go bankrupt, but those who sustain their wealth over a long period.

One day, I made a list of things I consistently hear the affluent say, or imply. I came up with 9 common statements that seem to represent how they think.

  1. I am confident about my ability to create wealth. It’s part of my self-image
  2. I respect money and I value myself.
  3. I understand and follow the rules of money (spend less; save more; invest wisely).
  4. I see no obstacles. Only opportunities.
  5. I talk possibility. Not limitation.
  6. I’m willing to do the tough stuff (that scares everyone else…and also me!)
  7. I know how to use risk to amplify my wealth.
  8. I rely on a team to help me manage my money.
  9. I take responsibility…for everything.

If you can think of more, I’d love to hear them. Also, these 9 statements make great affirmations.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

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Why Financial Confidence is so Elusive for Women

Written by Barbara Huson

I’m sure we can all agree. There’s no lack of info about money. It’s everywhere. So why, according to a 2015 Fidelity survey, do 80% of women lack the confidence to protect themselves financially?

I have a theory.
 
Managing money is a very different experience for men and women.  For men, investing is a practical process all about the transaction. Performance is everything.

For women, investing is about far more than amassing money. It’s about who we have to become, the internal changes we need to make to counter our cultural conditioning. This can be a very emotional process.   

But financial educators tend to take a strictly intellectual, left brain approach, deliberately steering clear of what’s been derisively mocked as ‘touchy-feely’ finances, shunning the very components that speak to, inspire and motivate women.  

I’m convinced, unless we explore our emotions, along with the facts, we’ll remain in resistance.  

We need more financial courses (and books) that look like this:

  • While studying the difference between growth and value stocks, you also focus on personal growth and valuing yourself.
  • While defining market risk and how to minimize it, you overcome your own resistance to taking those risks.
  • While engaging in financial planning for future goals, you work on disentangling yourself from the outmoded beliefs and prior programming holding you back.


Here’s an excellent place to start: Download the Money Minder® Personal Autobiography ebook for free here: http://www.financialrecovery.com/free-stuff/

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com
 
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Are YOU Wealthy?

Written by Barbara Huson

Raise your hand if you feel wealthy. (I’m specifically talking about money here.) If not, how much do you need to feel wealthy?

Think about it.

One thing I know for sure, wealth is not an amount. It’s a mindset. I’ve met women worth over $10m who don’t feel rich. I know many who have far less, and consider themselves wealthy.

What we need is a universal definition of wealth. And here’s what I propose: wealth means you have more than enough.

In other words, you know you’re wealthy when money ceases to be a source of stress and becomes a useful tool for creating the life of your dreams.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

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Let’s Talk About the Taboo

Written by Barbara Huson

I’d like to share an exercise I gave participants at a recent retreat. I call it The Sacred Wealth Circle.

On a blank piece of paper, draw a large circle. Inside the circle, write the names of people you can talk to about money, wealth, and power.

Then, outside the circle, write down the names of people you are close to, but can’t discuss finances because they tend to be naysayers or aren’t interested.

What did you discover?

To create wealth and claim our power, we need support…from other women, mentors and financial experts. Sure, no one can take responsibility for us. But we cannot—should not—do it alone.

An Emory University study revealed: “The pleasure and reward centers of a woman’s brain light up if they can work towards their financial goals in collaboration with other women.”

The world needs more supportive communities of women talking openly, candidly about topics that have been taboo for centuries: money, wealth, and power. Won’t you join me on the first Monday of every month for my free call? https://www.barbara-huson.com/seminars/money-mondays/

It’s a safe place to talk about money, as women.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

Meet Barbara Huson

When a devastating financial crisis rocked her world, Barbara Huson knew she had to get smart about money… and she did. Now, she wants to empower every women to take charge of their money and take charge of their lives! She’s doing just that with her best-selling books, life changing retreats and private financial coaching.

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