Mindset Matters

Subrahhmanyan Chandrasekhar, who created the model for what became the basis for black holes, is now a renowned astrophysicist. But back in the 40’s and into the 50’s he was still living in relative obscurity, conducting research and teaching at the University of Chicago. During this time, Chandrasekhar was working at Yerkes Observatory which was run by the University of Chicago, but located about eighty miles away from the main campus in Williams Bay, Wisconsin. One semester, Chandrasekhar was slated to teach an advanced seminar in astrophysics, but only two students signed up for the class. Because teaching that course would require a one hundred and sixty mile round trip drive twice a week to get to and from the main campus, it was expected he would cancel the seminar and avoid the hassle of commuting for just two students. Chandrasekhar not only kept his commitment to go forward with the seminar, he did so with great enthusiasm, fervently investing a great deal of eff...

A few weeks ago, Anchorage was hit by a major earthquake. Power was knocked out across the city. Major roads and highways were destroyed when the ground heaved, shifted and sank, leaving depressions large enough to bury a three story house. Four weeks later, we are still feeling significant aftershocks. But amidst all the destruction, I was amazed how our city came together. It can take a week for city plows to get to your street after a large snowfall. Fixing a pothole might take months. But when large chunks of highway disappeared into the earth, crews were out immediately and had roads, bridges and on-ramps repaired and completely functional in mere days. Some major thoroughfares were fixed in just 48 hours. It wasn’t just road crews either. A windstorm can knock down a few trees, taking powerlines down with them, and a few isolated neighborhoods might be without power for up to a few days. When the ‘quake hit, it shut off power all over the city. The whole town went d...

About 11 years ago, right at the beginning of the worst financial crisis since the Great Depression, I began a financial planning and investment management practice. Giving up a six figure income and beginning this new venture from scratch out of a downstairs bedroom, I invited plenty of criticism and confusion from friends and family. I also was ignored by professionals in the industry as I sought their guidance. I felt like they thought I was some punk kid who wouldn’t last, especially as the recession wore on and investor confidence dwindled. Even partnering organizations seemed to ignore me. I quickly developed a chip on my shoulder. I wanted to prove all my doubters wrong. But my intent was not to tell them, “I told you so.” My desire was to succeed in such a way that I wouldn’t have to say anything at all. That my actions would show them they misjudged me. I wanted my drive and determination to say everything. However, building my practice was more difficult than ...

I want you to try a little exercise with me. It’s okay if you want to look around and make sure no one is watching first, I’ll wait for you. Okay, ready? Here’s the deal: I want you to stand up, life your arm and reach as high as you possibly can. Now, reach a little higher. You were already supposed to reach as high as you possibly could, but two seconds later you were able to extend your hand even higher. It’s not like you became more flexible or got taller in the last few seconds. So what’s that about? You, and myself as well, have been conditioned to hold back. You’ve become accustomed to not going “all in,” but rather keeping a little reserve off the table. While this might be a good strategy in poker, in life you only get to play one hand. And the old adage, “you can’t take it with you” applies to more than just possessions – it’s your effort and expertise as well. Whatever is held back and left over is wasted. Go all in in life because this is the only hand you g...

It’s amazing what the human spirit is capable of doing when it’s backed by the commitment of the soul. People have accomplished extraordinary feats when they are determined to persevere. We are designed to endure much more than that for which we give ourselves credit. And many never see much more than a glimpse of what they are capable of doing. I believe some of this is due to hunting the wrong “bear.” Instead of searching to understand what we can bear – seeking and stretching our limits to learn what we are capable of enduring – we instead become content to only find the “bare.” We strive for the bare minimum effort to not get fired and to maintain status quo. We commit to only the bare bones preparation for what needs to be accomplished. We work just hard enough to acquire only the bare essentials for the tasks that lay ahead. People get caught up in the pursuit of “just enough.” It’s the perspective of “What do I have to do?” versus “What needs to be done and how much...

A few years ago, Jaguar came out with a sweet little crossover SUV, the F-Type. This luxury ride boasts all the sophistication and stylish designs one would expect from Jaguar, and its top trim package, the F-Pace SVR, provides a beastly 550 horsepower engine. However, at just a little more than half the price of the SVR package, you can get a base level trim. It still has the overall look of a Jag, just a few less bells and whistles. But when it comes to what lies beneath the hood, it’s completely gutless. Instead of 550 horsepower, the F-Pace 20d trim package gets you 180 horsepower. To put that in perspective, that’s about 100 less horsepower than the minivan we are currently renting on vacation. It looks the part, but doesn’t deliver. This “budget” version allows one to say they “drive a Jag” without having to pay the price for true performance. Everything on the outside proclaims prestige and affluence, but where the *ahem* rubber meets the road, the actual driving exper...

About a week ago, Anchorage, Alaska was hit with one of the biggest earthquakes I can remember in the 37 years I’ve lived there. Thankfully, there were no fatalities or even major injuries that I know of. However, roads and buildings weren’t so lucky. One of our major highways dropped up to 30ft in some places, bridges and overpasses collapsed and some older homes and buildings were completely destroyed. Power was knocked out all across the city and gas had to be shut off in certain areas because lines had been compromised. In most cases, power was restored remarkably quickly and folks began to clean up the mess and mayhem the earthquake caused. But they also went into prep mode. Some gas stations were tapped bone-dry of fuel. Grocery stores had their bottled water supply cleaned out along with canned goods being picked bare. Generators sold out over the weekend. Everyone stocked up on basic necessities and survival gear. However, this was AFTER the quake and power, water a...