You’re Rejected! How I Use Rejection To Motivate Me Every Single Day

Unless you’re perfect, there will be times when things don’t go your way.  You’re last to be picked in PE class, Yale says, “thank you, but no thank you”, and your girlfriend/boyfriend dumps you for another man/woman.  Do you start sulking?  Or do you get up, get angry, and prove to yourself you’re worth it?

Some people are so afraid of rejection, they never put themselves out there.  They reject themselves before even giving others a chance!

Lame Excuses:

“Why would this school accept me?”

“Why would she want to talk to me?”

“I don’t deserve a raise so I’ll never ask.”

“I’m not good enough to work for this firm, so I won’t bother applying.”

“What if everybody thinks what I say is stupid?”

“My writing is horrible, why would anybody want to read anything of mine?”

These types of thoughts crush dreams, lead to low-self esteem and mediocrity. 

Change the way you view rejection with these 5 strategies:

Financial Samurai $1,000 Giveaway & Your Chance To Make Millions Over Your Career!

“It’s not whether you have your MBA, it’s where it came from,” writes John Micklethwait, Editor-In-Chief of The Economist. I’m sure on at least two levels, he’s upsetting people. On one level, those without MBA’s are going to find it presumptuous that getting an MBA is a foregone conclusion.  On another level, there are thousands of MBA grads who didn’t attend the top tier schools who will take offense as well.

NA_table2-1 John is smart to be so opinionated because after all, the people who will be buying his magazine are those who have always wondered whether getting an MBA is a good idea.  He forces the assumption that if you picked up his magazine, you must get an MBA, and not just any MBA, but one of the top schools from his polls.

I don’t entirely agree with John, but let’s face reality, getting an MBA is gradually becoming the new standard for newcomers to the world of finance because some go-getter decided it was the right thing to do and succeeded to get others to follow.  The MBA is also too expensive to not try and go to the best school possible (although it’s not the end of the world).  The inertia is too strong to reverse now!

Here are some of the takeaways from the magazine:

The Latest “Did You Know” Video for Fall 2009

Fascinating video about the progress of technology and social media that everybody should know about.  This is my first attempt at posting up a video, so I hope it doesn’t blow up my site.  Thanks Gen Y Investor for the tips!

For all those who don’t know how to put up a video from YouTube on your site, simply go to your YouTube video, copy the HTML code on the right, past it into your HTML tab in your WordPress, click back to Visual, and edit accordingly!

Tomorrow we will reveal our $1,000 giveaway for those aspiring to get their MBA.  Even if you don’t want to get your MBA, you might know someone who does so stay tuned!

DID YOU KNOW? VERSION 4.0, FALL 2009

Readers, are you ready for the next 5 years?!

Keigu,

Financial Samurai – “Slicing Through Money’s Mysteries”

Follow me on Twitter @FinancialSamurai

Six Figure Incomes & Unemployment – Challenging Reality By Engaging The Community

UnderarockFree Money Finance wrote a solid post on how to make “6 Figures in 7 years” over at GRS. By the time I got to his post, there were already 95 comments with a very negative undertone.  When I just questioned whether only 5.6% of the working population makes over $100,000/yr, there was even more negative reaction.  Fellow commenter Sarah wrote, “You are out of touch with reality!” Umm, I didn’t make a statement, I just asked a question.

I challenged the 5.6% assumption because out of the 100+ comments, 20 people claim they make over 100k.  That’s 20% of the sample set, and much more than the US Census Bureau’s data would suggest.  Perhaps the whole topic just brings about more people who are making over 100K to begin with.  If that’s the case, what are you doing commenting on a post on how to make over 100K if you’re already there?  Bragging isn’t very becoming, although I’d be curious to know what all readers make over here at FS.

Why Becoming Debt Free Is Not A Great Idea!

 

We Don't Need No Medicine!

We Don't Need No Medicine!

I’m pleased to bring you a guest post by faithful reader and commenter, Larry Ludwig (bio below).  He writes a thought provoking piece about challenging the norm of becoming debt free.  You’ll be smarter after reading this, guaranteed!  Enjoy, and as always, feel free to debate away!  Rgds, Financial Samurai

You’ve heard the financial gurus like Dave Ramsey perform pasectomies on his show and Suze Orman with her numerous “I have 50k in debt” guests.  The gurus all say, debt is bad, credit is evil, and being debt free is nirvana, yada yada yada.  While I do think as a whole Americans have too much consumer debt, the goal of being completely debt free is actually a terrible idea. Let me be specific: buying things that depreciate with debt is bad, that big screen TV, new clothing or car.  Most of the financial gurus do not make this distinction and make all debt to be “evil”.

I believe Rich Dad/Poor Dad Robert Kiyosaki has said it best, “There is good and bad debt and being debt free is more risky than having good debt.”.  Now before you go off on my recommendation of Robert and his questionable background, I believe his statement is sound and correct.

The primary reasons are:
•    Opportunity Cost
•    Asset Allocation
•    Inflation
•    Tax Deductions
•    Arbitrage
•    Leverage