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Honoring All of Our Mentors for All They Have Taught Us - YouTube

Key takeaways
  • The knowledge and wisdom we have all comes from those who have gone before us.
  • Mentors are among the most important people in our lives.
  • We honor the mentors in our lives by carrying on what they taught us.

We stand on the shoulders of giants. To me, that means that all those who have gone before us, and whom we paid attention to and learned from, have put us in a much higher place than we started from.

Basically, I’ve learned the truth of that from the many mentors I’ve had throughout my life. I had three major mentors with whom I was very involved over the years. One of them, was Ed Coyle. He started this company many years ago in the early ‘70s.

Ed helped me, Kevin, and the others who were here during his time to become very good at our craft. He gave us a real understanding about how to be good at financial coaching—to be able to do the things that our clients have really come to expect from us.

I think we honor our mentors by continuing to do those things they taught us to do, but also remain humble about the fact that we didn’t learn these things on our own. It’s true, I have not ever had an original thought. Everything you hear coming from me, someone else told me. I may have put the concept out in a different way, put my own spin on it, but it didn’t come from me originally.

Another important mentor of mine died last fall and was a client from 30 years back. Actually, many of my mentors were clients. Gentlemen and women who really taught me countless lessons about life and how to deal with money in the midst of it. I find it very exciting to meet people with more knowledge than I have, and who possess a deeper wisdom around money and how it relates to everything in their lives.

I try, as your humble scribe here, to share some of that with you and to help you think about those things in a different way. But I want to make it clear that everything you hear from me, or you see written by me, has come from someone else in my life who was kind enough to share it with me. Hopefully, I listened well enough to then turn around and give it back to the rest of the world.

Today, we’re sharing our knowledge on this video medium and it’s going to last forever. I think this is vitally important. If we go back 40 or even 30 years ago, we’ll find that we’ve lost a lot from many mentors because it came in written word form or via oral tradition. It’s so difficult to find and recover that wisdom.

Technological advances have given us the capability to use video and podcasts as well as the typical blog platforms for sharing information. I’m using these tools to capture the wisdom I’ve gained over the years from my many mentors and present it to you.

Every June, I think about our founder and his passing, as well as the huge impact he made on this company. We hope we’re making a huge impact on your lives, as best we can, in his name and those who came before him, so you can live better and feel better around your own money. Until next time, enjoy.

Gary

Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country.  He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Learn more about TransformingWealth , our proprietary approach using the best technology and proven research so you’ll make informed financial decisions. Schedule a complimentary TransformingWealth Preview Meetingand start living the Good Life Managed Well.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you.

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

Copyright © 2019 Coyle Financial Counsel.  All rights reserved.

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If You Had Only 3 People You Could Invite to Dinner, Who Would They Be? - YouTube

Key takeaways
  • If you could invite any three people to dinner, who would they be?
  • Why would you choose those three?
  • What would you discuss with them?

Heart, mind, and philosophy. Why would I mention those three things? Well, because someone once asked me, “If you had only three people to invite to dinner, who would they be?” For me, Heart would be Mother Theresa, Mind would be Einstein, and Philosophy would be my favorite philosopher, Plato.

Why would I choose each of these, in particular?

Plato: I would just love to talk to him about the various areas of philosophy that I’m always striving to understand better. I would be especially interested in his Allegory of the Cave. If you know anything about Plato, you’ve heard about this and it’s something I’ve absolutely always been fascinated with. I’d love to discuss it in depth with him.

Mother Theresa: All of my life, I’ve tried to help people as best I can, but I have to say, I can’t even come anywhere near this woman. Her ability to put herself out there, for her whole life, to help other people—people in the worst possible conditions—and to be there for them consistently is awe inspiring. I would just love to find out exactly what it was that made her this way.

Einstein: This is another visit to the intellectual side of things. I want to have a great conversation with him on the theory of relativity. But, I’d also like to explore what he was working on before he died. How did he see this last project and what were his thoughts about it? It would be fascinating to me to talk with him about these topics.

Those are the three dinner guests I’d choose. I’d also like to have a lot of other people with me at that dinner, so we could have a better conversation, of course. I think I could learn so much from them and gain a better understanding of these core elements that are important for me personally. Who are the three people you would choose? Until next time, enjoy.

Gary

Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country.  He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Learn more about TransformingWealth , our proprietary approach, designed to get your arms around the big picture so you can make informed financial decisions. Ask Gary about Coyle’s TransformingWealth Preview Meeting, and schedule a complimentary consultation and start living the Good Life Managed Well.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com 

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you.

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

Copyright © 2019 Coyle Financial Counsel.  All rights reserved.

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Want to Avoid Un-Retirement? - YouTube

Key takeaways
  • A recent survey showed almost 40 percent of Americans previously retired have gone back to work.
  • Un-retirement has become much more common today than even one generation ago.
  • If you want to retire in a more permanent way, you might consider what it’s going to take to make that happen.

“Just when I thought I was out, they pull me back in.” That’s a famous line from Michael Corleone played by Al Pacino in Godfather III. I know you remember that line and, believe it or not, it has a lot to do with un-retirement.

We talk about retirement a lot, but there’s probably more un-retirement going on than you realize. In fact, the American Working Conditions Survey, conducted by RAND Corporation, shows that 39 percent of those who are working over the age of 65 had previously retired. I thought that was interesting because it provides a sense of just how much of what we call un-retirement is going on.

This means four out of every 10 retirees go back to work. But, more importantly, over half of those over 50 years of age would gladly work again, given the right opportunity. This is no small thing, this un-retirement. You might even call it a movement and I’m certain there are a lot of reasons around it, including:

  • Fewer people have traditional pensions
  • More people are relying on Social Security
  • People find it necessary to put more money away in things like 401(k) plans
  • We’re living longer due to medical advances

All of those things don’t necessarily give us enough money to make it all the way through the retirement years without working to supplement the funds.

The point is that if you really want to retire in a more permanent way and only go back to work because you choose to do it, it’s important to make sure you’re prepared. You need to ensure that you understand the whole picture regarding how much you’ll need to live so you can do something else other than actively working.

Without keeping this in mind, you may be forced to un-retire to augment your income for a period of time. It’s not necessarily a bad thing, but it’s something you want to keep on your radar, so you aren’t surprised if it happens. It can happen for a number of reasons and can be due to circumstances beyond your control. Maybe it’s due to poor planning or any variety of other things.

It’s important to be aware that the status of un-retirement has become much bigger than it was even one generation ago and that’s the main message pointed out by this survey. Consider this if you’re in pre-retirement mode or actively in retirement and you’re looking at your options. A lot of folks are doing this. Until next time, enjoy.

Gary

Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country.  He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Learn more about TransformingWealth , our proprietary approach, designed to get your arms around the big picture so you can make informed financial decisions. Ask Gary about Coyle’s TransformingWealth Preview Meeting, and schedule a complimentary consultation and start living the Good Life Managed Well.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you.

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

Copyright © 2019 Coyle Financial Counsel.  All rights reserved.

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2 Things You Cannot Buy: Time and Love - YouTube

Key takeaways
  • Warren Buffett says the two things he values most are time and love.
  • Each of us has the same 24 hours in a day and none of us can buy love.
  • Give some careful consideration to how you spend your time and who you spend it with.

“He who has his health has a thousand dreams. He who has not has only one.” That’s a proverb from a very long time ago about what I believe is very important to all of us: our future.

I bring this up because of what the Oracle of Omaha, Warren Buffett, said at the recent Berkshire Hathaway annual meeting. At the meeting, he’s typically asked a lot of questions; this year, someone asked him to share what he values most in life. And at age 88, he responded, “Two things you cannot buy: time and love.” That’s quite an astute statement. As always, the oracle comes through.

No matter what our state in life, we all get the same amount of time—the same 24 hours each day. There’s no way to get any more of it, so it all comes down to how we use it in our day-to-day lives.

Then there’s love. We’ve seen numerous studies about love that make it clear how important it is to have. Many of the studies involved babies who are orphaned and left alone with just minimal care, such as food and diaper changes. When they didn’t receive love and touch, they died, even though they had their other needs met.

Ultimately, we know that everyone needs to have love and it’s certainly not something we can buy. It’s not something that shows up all of a sudden. It develops in your life over time. So as you’re going on your travels and going about your daily activities, consider what Warren is really talking about.

How do you spend your time? Do you spend it doing things you enjoy? Do you spend it with people you love and who love you? It’s important to think about this because these two things, ultimately, are really all that matter when we come to our final days. And this advice comes from a gentleman who’s worth billions upon billions of dollars. He’s really getting back to basics here and addressing the basic human characteristics of the life we live in: time and love.

So as you’re moving through life and discerning what’s important, give time and love some consideration instead of all the other distractions that get in the way. It’s another great answer from Warren Buffett for you to think about. Until next time, enjoy.

Gary

Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country.  He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Inertia, often caused by being overwhelmed, keeps smart people from planning. TransformingWealth , Coyle’s proprietary approach, is designed to get your arms around the big picture so you can make informed financial decisions. Take the first step to living the Good Life Managed Well, and schedule a complimentary TransformingWealth Preview Meeting.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you. 

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

Copyright © 2019 Coyle Financial Counsel.  All rights reserved.

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Summertime.  For some of us, that means vacation: long road trips, spending time at the beach, camping or at a cabin in the woods.  In addition to packing sunscreen or tick repellant, we also think about what to read or listen to during those leisure hours.

If you’re looking for something besides the usual romance novel or latest golf tips from the pros, why not use some of that time to beef up your knowledge of current topics in business, investments and economics? This month’s blog features some of my favorite podcasts for your listening pleasure* (grouped by how “deep” they are):

These pretty much keep you dry and out of the water:

Vanguard: Investment Commentary – Various investment and economic topics

Odd Lots (Bloomberg Markets) – Various investment and economic topics

Choiceology (Charles Schwab) – Behavioral economics

Make Me Smart (Kai and Molly) – Interesting variety of topics

In the water, but not over your head:

EconTalk (Russ Roberts) – In-depth interviews with interesting people

Behind the Markets (Wharton School of Management) – Various investment and economic topics

Financial Decoder (Charles Schwab) – Practical financial topics

Out on the sandbar:

Masters In Business (Barry Ritholtz) – Investment and business-related interviews

Invest Like The Best (Patrick O’Shaughnessy) – Interviews with different money managers

The Curious Investor (AQR) – Various investment and economic topics

Swimming for the Buoy:

The Meb Faber Show – Interviews with different money managers

The Knowledge Project (Shane Parrish) – Variety of interesting topics

Conversations with Tyler (Tyler Cowen) – In-depth interviews with interesting people

Where to start?  My top pick for summer listening (that won’t put you to sleep) is “Choiceology” with Katy Milkman (Charles Schwab).  This podcast tackles the many behavioral biases we all have to some degree or another, but it’s done in a very creative way.  I never miss a podcast.

“Make Me Smart” is also very well done, with hosts Kai and Molly exploring various topics of current interest.

I also enjoy listening to “EconTalk” and “Conversations with Tyler.”  Russ Roberts and Tyler Cowen are both academic economists and their respective podcasts invariably find interesting authors and topics to discuss in depth.

Have a relaxing and safe summer!

John Finley

*To get started on how to listen to podcasts, click on these links:

THE BEGINNER’S GUIDE TO PODCASTS How to get Started Listening to Podcasts Here is how to download podcasts and listen to them on your Android or iOS

John serves as Chief Investment Officer for Coyle Financial Counsel and is responsible for overseeing the investment process. John’s prior experience includes managing institutional fixed-income portfolios for corporations, pension funds, non-profit organizations and foundations at several large, global asset managers. With more than 20 years of institutional investment experience, he is energized by helping individuals understand the role investing plays in meeting their long-term financial goals.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you.

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

Copyright © 2019 Coyle Financial Counsel.  All rights reserved.

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When Was the Last Time You Created Awe? - YouTube

Key takeaways
  • When you do something for the first time, it can inspire a sense of awe in others and within yourself.
  • Experiencing awe revitalizes us and shifts our view of the world away from the negative influences and toward the positive.
  • Seek experiences that give you a chance to create and experience awe, so that your outlook on life is constantly fresh and renewed.

Awesome, dude! That’s probably from a movie like Wayne’s World, Fast Times at Ridgemont High, The Big Lebowski, or a whole bunch of others. Whichever movie it’s from, the line makes me picture these Southern California, kind of hippy guys going on and on about how everything is awesome. But it’s the “awe” part of the word I want to focus on today.

When was the last time you did something for the first time that created some awe? Today you can watch TED Talks and various other kinds of videos on social media where the people in them do things that put you in a state of awe. It’s very inspiring.

When others inspire a sense of awe in us, it can take us to a place of calmness, a place that shifts our worldview a little. It takes us to a place that transcends all the negativity our major media outlets are constantly driving. I know people often watch videos like this as a way to escape, but there’s a more important aspect to it than that: yourself.

When do you do things that are awesome? And by “awesome” I don’t mean it in the way that it’s commonly misused—and it’s misused a lot. That said, there are points in life when you do something for the first time and others look at you and say, “That was unbelievable!” Or, they might use the word “awesome.” It makes a big difference in our lives when this happens. It transforms body chemistry and makes us look at life differently over and over again. It inspires us to have more fun, to do more.

As you get older, it’s those awe-inspiring events that keep you young and vital and help you view the world with fresh lenses every time you venture out into it. Maybe being with your grandchildren, traveling to new places, experiencing new things, or exploring nature are some of the things that put you in awe of life.

As far as some of those movies go, “Awesome, dude!” kind of sums up what I want to feel when I do something for the very first time—something that really changes my perspective of the world. It’s in these moments that I can clearly see where I’m going, where I’ve come from, and where I really want to take myself into the future. Until next time, enjoy.

Gary

Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country.  He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Learn more about TransformingWealth , our proprietary approach, designed to get your arms around the big picture so you can make informed financial decisions. Ask Gary about Coyle’s TransformingWealth Preview Meeting, and schedule a complimentary consultation and start living the Good Life Managed Well.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you. 

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

Copyright © 2019 Coyle Financial Counsel. All rights reserved.

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10 Pieces of Advice for Graduates - YouTube

Key takeaways
  • It’s that time of year—graduations and commencement ceremonies are happening everywhere.
  • Keynote speakers at graduation ceremonies often share stories and advice to help graduates tackle their next stage in life.
  • Even if you graduated long ago, it might do you some good to take another look at advice like this each year.

You may have recently come back from one or more graduation ceremonies where you heard a graduate speaker talk about the rules they’ve had in life, the road ahead, or whatever it happens to be. That comes up a lot this time of year, so it’s a good time to take a deeper look into how this advice works.

I’m going to share my top 10 pieces of advice relative to this. Some of this is my own advice and wisdom and some is taken from other articles I’ve read.

  1. Don’t be afraid to fail. I have to say that this is number one because it’s the most important. We experience failures for our entire lives—over and over. We tend to forget this as we get older. We think that somehow, some way, we now no longer fail. We have to fail as quickly as possible on a continual basis because that’s how we learn.
  2. Don’t gauge yourself by social media. Most of the people you see on social media, showing off this phenomenal life, have a whole different side they aren’t showing. It’s like two sides of the same coin: what’s shown to the public versus what’s really going on. Don’t compare yourself to others. It doesn’t make any sense. That hasn’t changed; it’s just that we now have social media added to the mix.
  3. Experience trumps everything. I don’t care what degree you have. I don’t care how much you’ve studied various books or disciplines. Until you experience how it works in a practical, real-life situation, you’re not worth anything to yourself or anybody else. It’s very important to understand this.
  4. Seek out people to up your game. Lots of people around us know a lot more than we do. There are people out there who can do things much better than we can. So, wherever you’re focusing your efforts, seek out others to help you along the way. They’ll be very happy to help and mentor you, which leads into number 5.
  5. Ask for help all the time. Again, as we get older, we don’t ask for help. Always ask for help. It makes getting through life a lot easier. We know so little and so many others know so much more than we do. Asking for their help can make life way simpler.
  6. Volunteer for everything. I say this to young people entering the military because they’re actually told the opposite. But those who volunteer for things get significantly more opportunities. It’s just how life works.
  7. Always be learning. Always stay open to learning. It’s through learning that we see new things and new ways to go forward. We get further on in life. Learning allows us to see the next place we’re headed and the best way to get there.
  8. Rejuvenate periodically. You can’t keep going nonstop. You will wear down. You will wear out. The human body can only take so much until all sorts of problems start to come up. You need to have an off switch and use it periodically to recharge your batteries.
  9. Be true to you. Be you because everybody else is already taken. Enough said.
  10. Have fun. This is the other most important thing along with #1. Have fun no matter where you are or what you’re doing. When people are smiling and happy around each other, it makes everything better. It’s fun to work. It’s fun to play. Everything is more fun this way. We have all of these freedoms in this country. Let’s have some fun together.

I hope these 10 pieces of advice will help you out a little, no matter where you are in life. Even if you graduated many years ago, taking another look at these each year at this time might help. It may help you re-evaluate where you are, where you’re going, what you’re trying to do, and your mindset around these 10 very important areas. Until next time, enjoy.

Gary

Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country.  He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Learn more about TransformingWealth , our proprietary approach using the best technology and proven research so you’ll make informed financial decisions. Schedule a complimentary TransformingWealth Preview Meetingand start living the Good Life Managed Well.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you. 

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

Copyright © 2019 Coyle Financial Counsel. All rights reserved.

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Do You Take the Good Advice That You’re Given? - YouTube

Key takeaways
  • Almost everyone knows, or has known, a person who simply refuses to take a single bit of good advice given to them. Instead, they close themselves off to it and continue to travel down a destructive path, usually in denial that they’re doing it.
  • Mentors coach and advise mentees in order to help them take advantage of their expertise and years of wisdom. When mentees listen and take a mentor’s advice, they not only become better at whatever they’re learning about, but also become better as mentors to others in the future.
  • Although it’s ironic, this works in the opposite direction too: when mentors are open to listening to their mentees, they become even better mentors.
  • The benefits flow both ways between mentor and mentee, like two sides of the same coin.

“It’s the good advice that you just didn’t take.” That’s a line from a song that came out in 1996 called Ironic by Canadian artist, Alanis Morissette. Why would I bring up this song and, in particular, this line from it? This song was on the top 10 list back in its day and every time I hear it, I think of someone in my life who is having a hard time taking any advice whatsoever. It’s as if they’re closed off to everything.

This person is being given good advice by, maybe, multiple people and, despite that, they’re continuing to go down this really destructive path. It’s very difficult to witness and is a little like watching a car crash happen, but the people in the car have no idea (or refuse to admit) it’s happening.

In a backwards sort of way, this scenario pops into my head when I think about mentoring, specifically about the mentor and mentee. I’ve been a mentee on many occasions in my life; and, today I have many people mentoring me in phenomenal ways. I’ve found that the more open I am to listening to them as a mentee, the better I become as a mentor.

That line of reasoning may seem a little backwards, but it really isn’t because it’s like a two-sided coin. You always have both sides. We may think we’re only on the one side, but that other side is always there, regardless. So, mentors also get better when listening to mentees and, likewise, when mentees remain open to receiving and taking good advice, they become better mentors.

As we age and gain experience in certain areas, people seek advice from us more often and we may find ourselves in the mentor role much more frequently. This is certainly true for me—I’m  called upon to be a mentor more often nowadays. And I always have to remind myself that I will learn more from the mentees than I’m going to be able to teach them as a mentor. Staying open to learning from my mentees makes me better in the role of mentor. It’s a different way to look at this relationship, but that line from Ironic lays it out perfectly: “It’s the good advice that you just didn’t take.” Until next time, enjoy.

Gary

Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country.  He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Inertia, often caused by being overwhelmed, keeps smart people from planning. TransformingWealth , Coyle’s proprietary approach, is designed to get your arms around the big picture so you can make informed financial decisions. Take the first step to living the Good Life Managed Well, and schedule a complimentary TransformingWealth Preview Meeting.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you.

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

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Coyle Financial by Gary Klaben - 2M ago

The Secret to Happiness - YouTube

Key takeaways
  • People naturally want to live a happy life. No one wants to focus on the inevitable unexpected negatives that come up on occasion.
  • A New York journalist set out to discover the secret to happiness by following six citizens, aged 85 and older, for an entire year.
  • Essentially, he found that thinking like an older person is the key that unlocks the three-fold secret to happiness.
  • In brief, the secret to happiness comes when you understand your days are finite, practice selective forgetting (about pain and loss), and learn that happiness is a choice.

The Three Stooges, the Tom & Jerry cartoon, and the comedian Red Skelton. Why do I mention these three? Well, growing up, they made me really happy when I watched them. I’m dating myself, but that’s ok. I don’t know if those shows had the secret to happiness hidden within them, but I truly enjoyed them.

What is the secret to happiness?

In 2018, a journalist followed six people aged 85 and up for an entire year. His mission? To discover the secret to happiness. He came up with three primary markers, or life lessons, about the people he followed. You can incorporate these happiness lessons in your own life by allowing yourself to think like an older person:

  1. Your days are finite. Have gratitude for each day that you wake up. Focus on what is, not what isn’t. Makes sense, doesn’t it?
  2. Practice selective forgetting. Sometimes, when I’ve spoken to people and discussed things I knew about them from earlier in their lives, I find they’ve selectively forgotten certain things that were painful. The journalist also found that this selective forgetting happens around the areas of pain and loss. Quite frankly, that’s an important thing—the ability to selectively forget things from your past that aren’t helpful to your spirit and don’t reflect your true self.
  3. Happiness is a choice. It certainly is, but it’s not a choice you make once. It’s a continual act of choosing throughout the course of your life, and in the midst of all the mishaps. Of course, you must deal with any negative things that come up, but the key is to do it and then don’t dwell on it. Choose to move forward in happiness.

Like I’ve said many times before, you can’t buy happiness. But, you can certainly put yourself into a mindset of happiness by incorporating these three lessons in your daily life. Then, if you happen to also have some money, that’s just the icing on top. Until next time, enjoy.

Gary

Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country. He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Learn more about TransformingWealth , our proprietary approach using the best technology and proven research so you’ll make informed financial decisions. Schedule a complimentary TransformingWealth Preview Meetingand start living the Good Life Managed Well.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you.

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

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How We Consume Knowledge Through Technology - YouTube

Key takeaways
  • Centuries ago, and even further back into antiquity, people passed down their histories and knowledge orally, in story form. They did this by memorizing events and other details and identifying them with features and images.
  • Every person possesses two different types of knowledge: tacit and explicit. Explicit knowledge is easier to pass on because it’s based on factual information (e.g., mathematics, historical dates, geographical locations). Tacit knowledge is much more difficult to pass on because it involves intangible, conceptual knowledge (e.g., riding a bike, learning a foreign language, playing a musical instrument).
  • As technology advances, three main mediums: video, artificial intelligence, and virtual reality have made conveying tacit knowledge much easier.
  • Video, for example, is now accessible to a massive range of people via platforms like YouTube. When people try to learn something new on one of these videos, they get much more than simply recited facts and how-to steps. Video allows them to see body language, tone of speech, unique tricks, and other subtle things, which give them a deeper understanding of the topic. It provides tacit knowledge along with explicit knowledge.

A few years ago, I read a book with a sort of funny title called, Moonwalking with Einstein by Joshua Foer. I think that was back in 2011. The book discusses a concept known as memory palaces. I won’t take you too far down into this, but it theorizes about how ancient civilizations and even more modern people, before printed books became common, passed down stories

Basically, they memorized events and all the surrounding details by observing them—actually walking along a path and identifying different features and images. That’s why the book refers to memory palaces. There’s a lot more to it and it’s an interesting book.

As I remembered the book, it brought to mind the two different kinds of knowledge every individual possesses: tacit and explicit. You probably already know what tacit knowledge is. In general, it’s that type of information that you just can’t easily transfer to another person. Think of things like knowing how to ride a bike, speaking a language other than your native tongue, and other things along those lines.

Of course, then there’s explicit knowledge, which is much easier to understand and pass along. Explicit knowledge is based on factual information like where a city is located within a country’s boundaries, or how to work a particular type of math formula. Basically, it’s any bit of information you can simply write down and others can easily understand it.

Why do I bring this up?

It has become relevant because, due to some recent technological advances, we’re now able to pass along tacit knowledge and make it explicit. In other words, these changes in technology make it so we don’t have to use tools like memory palaces for remembering things. This works on three primary mediums: video, artificial intelligence (AI), and virtual reality (VR). Keep in mind that there are many applications for doing this across each of these three platforms.

It’s really interesting because this ability has potential to transform the way we consume knowledge, learn, and understand the world. Imagine that you self-produce a video with the intent of passing along certain knowledge. The way you explain certain very interesting aspects of the topic, the way you come across on the video, the way you use body language, the way you arrange your speech—all of these intangible things help the viewer gain a much deeper understanding of the topic. He or she can internalize the information more fully than s/he could by, say, reading the same explanation.

Most of us, if we’ve had any exposure to YouTube, know how this works. There are videos out there detailing how to prepare a certain meal, put a bicycle together, apply makeup, replace a broken smartphone screen—just about anything else you can imagine. Personally, when I find the right videos, they make it super easy for me to learn how to do something for which I had no previous knowledge—no explicit knowledge whatsoever. The unique tips and tricks that can only be properly conveyed through this medium, that tacit knowledge, make all the difference for me.

It’s interesting to watch how this is happening out in the world. These platforms allow us, for the first time, to make tacit knowledge available in such a way that it’s widely accessible to people. And we’re seeing the results of this in the business place. With these rapidly growing and highly effective platforms, people can get up to speed faster as they go through training and continuing education. It also provides easy access to solid content and information for people working to improve their lives financially and in many other aspects. I’ll have more on this later. Until next time, enjoy.

Gary

Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country. He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Inertia, often caused by being overwhelmed, keeps smart people from planning. TransformingWealth , Coyle’s proprietary approach, is designed to get your arms around the big picture so you can make informed financial decisions. Take the first step to living the Good Life Managed Well, and schedule a complimentary TransformingWealth Preview Meeting.

www.coylefinancial.com
800-480-7913 | coyle@coylefinancial.com 

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you.

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

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