Updated: Oct 17
This past week, I drove down to see my family in Pennsylvania – the first time I’ve been able to make the trip since the COVID-19 restrictions were lifted. Besides indulging in loads of great food surrounded by ‘my’ people, we went rock climbing, drove up into the mountains to watch the stars and lights overlooking the valley, had bonfires and whisky, and ran target practice drills with a variety of firearms – not after the whisky, though. Safety first. LOL.
Culturally, why are Americans so addicted to their firearms?
I asked my cousins that question, and the answer was individual responsibility. We are each individually responsible for protecting ourselves, our families, our ways of life, and striving to do better. It’s about having an internal locus of control versus an external locus of control. This means that our futures aren't determined by luck or happenstance, but are directly correlated with the amount of effort we put in.
I’m not here to debate firearm policy, but it made me think about the current fiscal environment we find ourselves in. With inflation at multi-decade highs, equity markets tanking, gold and precious metals at a 6-month low, crypto and bond markets down, and interest rates starting to rise, everyone is starting to feel the squeeze. It’s easy to look at these factors and blame the environment for the rising costs around us.
The question is, what can you do about it?
Just like rock climbing, you must identify the problem or obstacle and find a way to overcome it. Persistence, reliance on others, and determination will be your biggest assets.
I am a fan of surrounding myself with people who are doing the things that I want to do. It’s very cliché, but your network is your net worth. You become who you surround yourself with. Choose your circle wisely.
The easiest way to make more money and improve your situation is to bring more value to the marketplace. Solve problems. Help people get what they want, and you’ll get what you want. The idea is pretty simple, but the execution can be difficult. Look internally. What problems do you have? What problems do you solve at your job? If your workplace has problems that you are skilled at fixing, there are probably many more companies with the same problems that you can help solve. It’s just a matter of developing a plan, marketing, and landing customers – something that your network will help with immensely.
The most straightforward example of this is real estate. Real estate is a business in a box. Bring value by creating and renovating units that people want to live in, and you’ll be rewarded handsomely for it. The key is leveraging your network or conducting the research and work yourself to identify an opportunity in a good area and execute a plan to maximize its potential.
Winners focus on the one thing that will have the most impact for the day. Notice, I didn’t say the hardest thing, the most time-consuming thing, or the most exciting thing. Perhaps the most impactful thing is a 10-minute phone call that sets up future potential. If that’s all you get done in a day, it’s been a success. Everything else is just gravy. Rest, walk, sprint to success. Don’t jog.
Have questions about your portfolio or want an outside opinion? Please select the button provided below, and I will schedule a free half-hour call with you to go over your situation! Talking to the right people can really save you money. I really believe that this is the time to expand your network and learn from those around you. I'll be in touch!
I'd love to hear your thoughts on this! Have a great week while working past those obstacles on your climb to success. Let's Grow Together!
Real Estate Investor and Entrepreneur
Jonathan Beam is a real estate investor in the Niagara region who is passionate about helping you achieve financial freedom through real estate. He works with new and experienced investors to formulate a plan that fits your specific situation and provides market guidance and consultation on the best places and strategies to pursue within the Niagara Region. Book a free, half hour no obligation consultation to see how he can help you to achieve your goals. His travels are available at www.realestateandrepeat.com
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