Money. The word itself has a power of its own. It can induce feelings and start a train of thought instantly. Unfortunately, often these feelings and thoughts are negative and stressful. We believe that achieving a healthy relationship with money is necessary because it’s attached, in some way, to almost every aspect of our lives. In reality most people have enough money, even after the recent market collapse. What they don’t have is the level of calm, clarity, focus, and equanimity required to live peacefully with money. Mindfulness can help achieve it.
We will focus a great deal on equanimity throughout the book, and while the term may seem unfamiliar, it simply means accepting your thoughts and feelings without judgment, which allows you to maintain balance.
The Mindful Investor is a friendly, non-threatening guide for individual investors, business people, and professionals who are looking for a better way to manage their money. We believe that financial success is important, but we believe that you must create your own definition of success, and this will vary for everyone. We’ll assist you in creating your definition by guiding you to achieve clarity about what’s truly important to you, and showing you how to stay focused on what matters and be equanimous with what you can’t control. The tool we will introduce you to is Mindfulness meditation.
The benefits of Mindfulness meditation in the worlds of business and finance include:
- Greater focus and concentration
- Improved time management
- An enhanced ability to anticipate and serve client needs
- Enhanced team effectiveness
- Greater innovation and inspiration
- Increased productivity
- More clarity about what matters, including financial goals
- A sense of equanimity, or acceptance of what you can’t control, and an end to worrying about money
We begin with a brief overview of the financial crises experienced over the course of 2007 to 2009, and will demonstrate to you the applicability and helpfulness of Mindfulness meditation in coping with the current disarrayed economy. Next, we introduce you to Mindfulness meditation—its history, applications, and benefits. You should feel reassured that it’s relatively easy, secular, mainstream, and accessible to everyone who’s interested. Once you’ve comfortably settled in, we’ll explore some of the simpler methods of practising Mindfulness in everyday life and help you get started on your journey. We’ll also introduce you to five hindrances to success, so you can be aware of them and sidestep potential disasters relating to them. Many personal finance books focus on giving up lattes and dining out for the purposes of saving up your pennies for retirement. This isn’t one of them. We focus on the big picture. And the first step in creating financial success is to define what financial success means for you.
We teach you how to employ Mindfulness in order to become clear about your true goals, and we point out frequent pitfalls and provide suggestions for avoiding them. We’ll walk you through the components of a typical financial plan and offer advice on what to consider when answering the questions that form the basis of a plan. Once you’re armed with a clearer idea of your true goals and objectives and a solid plan for how to achieve them, we show you how to select the components of a portfolio that will allow you to attain financial success, while minimizing the risk along the way. We also examine the client/advisor relationship, which is key to ensuring your financial success. We consider the client/advisor relationship to be a mini strategic alliance. Drawing on Maria’s years of experience creating large corporate alliances, we demonstrate how the same techniques can be applied here to improve relations between you and your advisor.
Additionally, we offer Mindfulness tips that will help ensure that readers can optimize communication with their advisor including how to tell if someone is really listening, if they’re not being forthcoming, or if they’re withholding information. Inevitably, things will go awry at some point; divorce, job loss, or a market meltdown can wreak havoc on an investment portfolio.
Mindfulness can help to guide you through the crisis, and we show you some techniques that will help you to maintain your equanimity in times of great stress. Finally, we take a look at the end, and plan with the end in mind. What doesn’t make sense to us is that everyone has fire insurance for their house, yet many people don’t have adequate life insurance. Relatively few houses burn down, but everyone is guaranteed to die—yes, even you. This chapter will guide readers through the minefield of estate planning and insurance. Using Mindfulness, we teach you to consider what you truly want to have happen and what kind of legacy is important to you. Yes, it’s more goal setting, but this time for your death, as opposed to your life.
Our goal is to help you experience greater fulfillment and less suffering. The strategies in our book will help you to increase Mindfulness in every aspect of your life. Used in tandem with sound financial planning principles, Mindfulness will help you to create a secure future. You will see that by achieving clarity, staying focused, and applying equanimity, you can attain both financial success and peace of mind. It’s just a matter of tuning out the noise of the world, and tuning in to your awareness.
Few Sentences above is a prefetch of a book called The Mindful Investors by Maria Gonzalez, MBA & Graham Byron, CFP