Understanding the power of “Self”

 

Every person with a defined goal will begin their journey with certain advantages and disadvantages that will impact their chances of being successful. These factors can be social, economic, systematic, hereditary, cultural, or intellectual. To better understand this concept, think of life as a game of poker. No one can control what cards they are dealt, but every player can control how they play them. Oprah Winfrey, who is one of the richest and most powerful women in the world, overcame an extremely troubled childhood to achieve extraordinary feats in philanthropy and journalism. In contrast, there have been countless people born into families with prestige and power who are never able to make even the smallest mark on the world.

So what makes some people able to overcome immeasurable odds and others not able to capitalize on tremendous advantages? The answer to this question is “Self”. The biggest key to sustained success is constant self development. In my opinion there is not a more powerful word in the English language, than the word “Self.” No amount of success can be achieved without it, and if you understand it you will never fail to achieve. To properly understand the power of “Self” we must examine the three components that make up a person’s “Self:” self awareness, self discipline, and self confidence.

The first component of “Self” is self awareness. Self awareness is the ability to recognize and understand one’s self in any environment. When chasing success in any endeavor, it is essential to understand how your personality and values affect the way you view situations and process information. For this reason self awareness is of the utmost importance. People who are self aware have high levels of empathy, tolerance, and likability.

The second component of “Self” is self-discipline. Self discipline is perhaps the hardest component of “Self” to achieve. The act of controlling oneself and avoiding incapacitating temptation in the pursuit of self improvement is not an easy task to accomplish. In fact, self discipline is regarded so highly in most cultures that you could argue that it is the foundation of every major religion. A person’s true character is built with the bricks of self discipline. 

The third and final component of “Self” is self-confidence. A person cannot achieve any goal of substance without first building the strong self-belief that they are capable of achieving it. Some people confuse confidence with arrogance, but if you understand the meaning of both words, they are easy to differentiate. Being arrogant is having an inflated self-worth, a distorted sense of importance, and a false confidence. A person who is arrogant may act as if they are the smartest person in the room even if they know for certain that they are not. Self-confidence is to understand and trust your abilities, judgment, and personal qualities because of previous preparation. I recently listened to an interview by  pound for pound boxing champ Floyd Mayweather and it was one of the best takes that I ever heard on the subject of self-confidence. Mayweather said, “I have been on top of the sport of boxing for 17 years and a world champion for 16 years. I make the most money, and I have never lost a fight, so when I say that I’m the best, it’s not because of arrogance; it’s because of the facts.” It is preparation and hard work that build self-confidence.

No amount of money, natural talent, or connections can mask a person with a weak sense of self. For the people who understand the power of “Self,” the sky is truly the limit for what they can achieve.

By:  Antonio McMillion

“Benefits of Investing Young” conference recap

Photo: Just a reminder M & G Financial Group first annual "Benefits of Investing Young" conference will be held tonight 7:00-9:00. If you already RSVP, I hope to see you there.

M & G Financial Groups first annual the “Benefits of Investing Young” conference was a huge success. We had professional athletes, pastors, engineers, doctors, college students, young professionals and business owners, all coming together to learn about the benefits of investing. Attendees enjoyed an energetic presentation by investment advisor/fund manager Antonio McMillion while enjoying complementary wine, beer, and appetizers. The relaxed setting created a perfect environment for learning and networking. M & G Financial Group would like to thank everybody that was able to attend, we truly appreciate the support. If you were unable to attend the conference, email events@mandginvest.com to be alerted about future events.

“The First Annual Benefits of Investing Young Conference”

 

 

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First official M & G Financial Group wealth building event “The Benefits of investing Young” will held August 14th from 7:00pm -9:00pm at a roof top location in Towson. The event will be invitation only so if you are interested in attending or just want more information email us at events@mandginvest.com. (Business Casual, free wine and appetizers)

“The Benefits of Investing Young”

There have been many articles written about the benefits of investing young; most of them are very good and give competent information. However, the prevailing mindset amongst of man young adults is either: investing decisions can be put off until they become more financially stable or saving for the future becomes more of a pressing need. Therefore, most of this helpful information falls on deaf ears. When examining young minority adults in particular, it is clear that because of cultural, systematic, and educational factors a large number of us are raised with bad financial habits. These habits are passed down from undereducated parents and a culture that places a diminutive emphasis on self reliance and financial freedom. Let me be clear, I make these statements as a young African American who had to overcome the same obstacles on my path to success.

I acknowledge the challenge of deciding between investing for the future versus spending extra cash on day-to-day wants and needs. This decision is made more difficult for young working adults due to student loans, entry level jobs, and the need to enjoy the youthful years of life. For this fact, only a select few will read this article, recognize the benefits of investing young, and plan a course of action. For these people the golden years of life will be less stressful and much more enjoyable.

 Now, to my top four benefits of investing young:

Time

One of the biggest benefits of investing at a young age is the enormous time value remaining in the investor’s life. In the investment world, time value is crucial in determining the soundness of an investment. The more time remaining in an investment’s life- the more time that investment has to compound and grow. An investment of $20,000 in a fund that yields a modest 7% return annually will compound and grow to over $55,000 in 20 years.

Young enough to take risk

When you start investing young you can take more risks than a person of older age nearing retirement. You can place a large percentage of your invested capital into aggressive growth funds and not conservative investment options like CD’s and Bond’s. These will give you the opportunity to experience larger gains.

Income

Dividend Stocks as well as other investments can produce income throughout the life of the investment. This is a great way of earning a consistent cash flow while investing at the same time.

Education

The earlier you start investing- the earlier you understand investing. Many middle age Americans make bad investment decisions because they are not knowledgeable about the investment world.  If you take the time to study and research different investment opportunities when you are young you will reap the benefits later in life.

“Stocks to Watch”

Over the last week Apple Inc (AAPL) has started to show some much needed positive signs for its Bulls. Apple fell to as low as $388.87 last week before bouncing off support and forming the base of a potential uptrend. The stock currently trades at $417.42 and is approaching a key resistance area at $425 that if taking out could signal a move to $457. If you are not already holding a long position wait for a break of $425 to enter a position as that would confirm the uptrend.

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Bank of America (BAC) has been a one of the strongest performers in the market over the last two years. It’s amazing to think that on July 10, 2012 Bank of America was trading at $7.40 and one year later it’s trading at above $13. As I write article BAC is attempting to break out of a tight trading triangle, which would be a very bullish indicator and signal continuation of the dominate uptrend. If BAC can close above $13.20 we should see a test of $14 in the near future.

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“Bernanke’s words present golden oppurtunity”

 

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Federal Reserve chair Ben Bernanke’s comments about the central bank dialing down its unprecedented bond-buying program caused chaos and confusion this week. After Bernanke’s statements bond prices fell, gold hit the floor and there was a massive sell off in the stock market. So what does the Chairs comments mean for investors in the stock market? In my opinion the only thing that Bernanke’s comments, and the resulting market movement shows is the strength of words when they come from powerful people. My forecast for the stock market as a whole will remain positive as long as the economy continues to recovery.

I look at the dip in the market last week as a tremendous opportunity to enter new positions at discount prices. The only fact that can be universally agreed upon amongst investors from last week is that “NO ACTION WAS TAKEN”. The Federal Reserve did not cut back on its bond buying, and there was no change in interest rates. Smart investors understand this and are licking their chops at a chance to add to or start new positions. Investors without conviction change their opinion about the market or a particular stock as quickly as an actress changes her clothes preparing for the next scene.

Look for weakness and volatility in the market this week but the smart steady bull will be rewarded this summer. Always remember “never rely too heavily on readily available information” and “never invest with a mob mentality”. My article http://selfmadetrader.com/2013/06/02/five-habits-of-successful-traders/   will help you understand the mindset needed to navigate through difficult times.

Stocks to watch closely in the next few weeks $POT, $BAC, $INVN, $AAPL,$PWE, $ERF, $FB, $MS, $GOOG, $MOS.

By: Antonio McMillion

“Stocks to Watch”

Last week In my “Stocks to Watch” http://selfmadetrader.com/2013/06/10/stocks-to-watch/ article I detailed a potential breakout developing on the charts for Invensense (INVN).The charts showed the range between support and resistance narrowing which meant that a break from consolidation was inevitable. After a few days of inconsequential action Friday provided the breakout that the charts forecasted. After clearing $14 with big volume INVN made a run at $15 before closing at $14.65. Expect INVN to follow her normal trading pattern of consolidating and building strength before she gears up to take $15.50 and $16 down. A lot of traders will get shaking out in the coming weeks due to lack of patience and profit taking, but I advise to buy more shares on any pullback. I rate InvenSense (INVN) as a buy and my strike price is $16    

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Potash Corp (POT)

Potash (POT) has tried to take out resistance at $44.40 three times since last September failing each time. Last week Potash held support at $40.20 and might be poised to try to take on the $44.40 monster once again. I would go long POT with a half position at any price under $41 and enjoy the ride up to $44.  

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