Tag Archives: success

The mental game

The pandemic has caused more stress levels about work, health, money, relationships, and other parts of life. The economy and world events and constant inflow of information on social media are causing a never-ending flood of stimulation. All of these factors and other underlying situations we find ourselves in will cause us to feel drained mentally, physically, spiritually, emotionally and this can cause us to be off-center in whatever it is we do in life. Unlike a cold or flu, one cannot always detect when we’re in need of a mental break, and keeping a strong mind is paramount in today’s times.

In the world of customer service and sales, there is constant switching of gears and situations that our minds must figure out in order to get through the day. I personally have my own ways to help me stay on top of my mental game for what I do for a living.  There are numerous ways to keep your mind functioning in tip-top shape but I will highlight some of my favorite methods in hope that you can see how they work for you or find some of your own.

Method 1: Physical exercise

I am a firm believer in having a healthy body. Gym or no gym I have a workout plan I utilized that yielded me good results. It is scientifically proven that exercise has numerous benefits such as benefits to bone health, energy levels and gets the blood flowing to wake you up more before you head to the shop, office, or wherever you work. Utilize various workouts from cardio, plyometrics, yoga, powerlifting, etc. no matter what keep moving and work that heart rate up. Your body will thank you for it.

Method 2: Remembering your why and positive self-talk

Goals are achieved by remembering what got you there and sticking to them. Maybe your goal is to close a million dollars in sales deals, win a sports competition, build a business. Whatever that goal is, remember to keep in mind WHY you are doing it. Is it to make a better life for yourself and your family? Is it to put your name in a record book for athletics? Is it to be the top salesman for your company to eventually become a sales manager? Keep your why in front of you and you will be able to keep onto your motivation to keep pressing forward. In conjunction with this, positive self-talk will help encourage you to keep up the great work. I recall a time in my childhood when my father would have me stand in the mirror and proclaim that “I am somebody, I am successful, I am capable” I would do this daily (and I still do to this day) and it would reinforce that no matter what I have what it takes to be successful in whatever I put my hand towards. These help with shaping confidence and instilling it deep within you. Even when you make a mistake treat it as a learning opportunity to improve, failure is fuel for eventual success.

Method 3: dealing with opposition (aka haters and doubters) are secret fans and blocking out excess noise

Focus is important in keeping your mental game in optimum efficiency. In life, you will have opposition and people who may prove to be naysayers and detractors. In life, there will be a constant conversation one any and everything and sometimes you might be the topic of conversation. It is important to block out the distractions that will take you off your path to achieving your goal (destructive habits/behaviors, associating with the wrong crowd, etc.) and forge ahead. There will be those that talk about you in the pursuit of your goals, give them something to talk about once you accomplish the goal you set out to accomplish. I am a believer that hecklers and naysayers are secretly a fan deep down somewhere inside and if you have some feel free to rejoice. To quote Winston Churchill “You’ve made enemies? Good. That means you’ve stood up for something sometime in your life.”

Method 4: knowing when to take a break and when to ask for help

It is important to be able to take a break as I have highlighted once before. I have learned that you cannot be switched to “on” 24/7 because our minds are like our bodies, there is a need for rest. Without taking a break (via a few minutes away from the work, taking that lunch break, going on vacation, or taking a day off) there is a risk of burnout. When burnout happens, it can hit like a truck and derail your ambitions to accomplish your goals. I believe in taking at least one personal day per month if I already don’t have a vacation planned out to give myself time to take care of myself and other matters of business if needed. Take time out to get a massage, cook a home-cooked meal, spend time with your loved ones or just read or spend time outdoors. It is also important to know if you get overwhelmed it is fine to ask for help. In our culture, we tend to neglect our vacation and sick time to take care of ourselves and we are prone not to ask for help and just try to take it all on alone. No man is an island, no one individual can make a car or even a pencil. It is fine to ask for help at work, with loved ones, or if needed professional help via a therapist.  It is ok to recognize that you need a break and need a second to breathe o need a little help. To continue to perform at high levels athletes need trainers to keep them sharp and recovery methods to keep their bodies in top form, the same applies for us as individuals.

I have shared some of the different ways that you can stay on top of your mental game and keep yourself in top form when getting to where you want to be in life. There is no one way to achieve having a better warranty on your mental health and these methods (and others) may vary in terms of your results. I encourage you to find ways that work for you if one doesn’t work for you. I hope that you can take what I have brought forth and use it to better your own mental state to stay sharp. Until next time dear readers, excelsior.

IRA Fundamentals part 1: Introduction

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An introduction

All good things come to an end. Nothing lasts forever, not even diamonds if you ask me. We all age, get a little slower and eventually can’t work to the same level we used to. It’s time to discuss the important topic of retirement. I know it’s something no one usually thinks about but it’s a thing that you should probably consider if you haven’t thought of it already. Time stands still for no one and each passing day is an opportunity lost fore retirement savings, allow me to share a little savings tool known as the IRA.

An Individual Retirement Account, IRA for short, is a special domestic trust, custodial account or annuity established for saving for retirement. This is not a CD, a money market account, or any special type of investment (though you can make investments held under the IRA, more on that later). These types of accounts are established in banks, credit unions, loan associations, insurance companies, brokerage firms or any organization that can demonstrate they can lawfully administer the trust.

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Retirement savings

IRAs were created to help supplement retirement savings, promote economic growth, and lessen the burden on social programs (SSI, SSA, etc.). Most people will have 4 primary sources of income for retirement: 1) social security income 2) employer sponsored retirement plan benefits (i.e. 401k) 3) IRA and other personal savings and 4) wages. Some people will need all 4 of these retirement incomes necessary to retain their current lifestyle after retirement.

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IRAs and the US tax law

IRAs are subject to tax law and all kinds of fun legalities such as contribution limits and changes made by the government to make getting an IRA more desirable and increase rollovers into an IRA. There are 2 main types of IRA: traditional or roth IRA. Traditional IRAs have the benefit of being tax deductible if eligible, has tax deferred earnings and potential tax credits if eligible as well. Traditional IRA contributions are tax-deductible on both state and federal tax returns for the year you make the contribution; withdrawals in retirement are taxed at ordinary income tax rates. Roth IRAs offer tax deferred earnings, tax free earnings if there are qualified distributions and, if eligible, tax credits as well. Roth IRAs provide no tax break for contributions, but earnings and withdrawals are generally tax-free. There are other types of IRAs created by changes in tax laws such as savings match incentive programs for employers (SIMPLE) IRAs, SEP IRAs, Self-Directed IRAs, and others.

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Full disclosure

When setting up an IRA you need three key documents to provide to your customer: the plan agreement (contract) between the customer and the financial organization, the disclosure statement expressing the details of the IRA in non-technical terms, and a financial disclosure displaying the projection of the growth of the IRA investment (such as a CD, or money market account within the IRA)  if desired as well. These are provided to the IRA owner for their records and there is a copy retained for the financial organization as well.

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Ownership and successorship

When setting up an IRA you also have the option for setting up beneficiaries. As an account service specialist,  I STRONGLY recommend placing a beneficiary (or several) on your different accounts in the event of your death. Save your loved ones the trouble of dealing with the courts to get your IRA or any other account closed and add a beneficiary. With an IRA you can add primary beneficiaries as well as contingent beneficiaries in the event of the primary beneficiary passing as well. Each beneficiary will receive a portion of the IRA funds upon your death. In some states you also have what is called spousal consent; this essentially requires your spouses consent on major changes to your IRA including adding beneficiaries. Certain states adhere to the spousal consent rule, check with your financial institution to see what regulations are in place for marital /community property are in your state when setting up your IRA.

Setting up and IRA and all their Intricacies can be daunting but I am hoping, by the end of my series on IRAs, that you’ll have a better handle on what these tools are and how to use them. I will say there is a lot of tax law involved with these so depending on your tax needs I would always say do your homework and if need be seek the advice of a tax consultant if you’re unsure of what retirement plan will suit your situation. Tune in next time when I present part 2 of my IRA series, until then, invest wisely my friends.

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