Millionaire Within

Walter Wisniewski

Description

Every journey must begin with a few tentative steps. Some are baby steps and some are taken in leaps and bounds. Our journey as father and daughter is a unique one, because it began with both. In our financial planning practice over the years, we discovered through our interactions with clients our meetings were not about stock market returns, but more about the behavioral aspects of finance. This may be an investment book, but it is not about the mechanics of investing. It's more about enriching your future by embracing your capacity to change your perspectives about money. Intelligent financial decision-making is not about money. It's about emotions and behavior and unleashing the power that lies within you.

Sujets

• Personal finance

Informations

• Publié par: First Edition Design Publishing
• Date de parution: 01 janvier 2018
• Nombre de lectures: 0
• EAN13: 9781506905136
• Langue: English

Extrait

TheMillionaire Within

WalterWisniewski
AllisonVanaski
TheMillionaire Within
Copyright©2017 Walter Wisniewski and Allison Vanaski

ISBN 978-1506-905-11-2 HC
ISBN 978-1506-905-12-9 PBK
ISBN 978-1506-905-13-6 EBK

LCCN 2017958429

December 2017

Published and Distributed by
First Edition Design Publishing, Inc.
P.O. Box 20217, Sarasota, FL 34276-3217
www.firsteditiondesignpublishing.com



ALL R I G H T S R E S E R V E D. No p a r t o f t h i s b oo k pub li ca t i o n m a y b e r e p r o du ce d, s t o r e d i n a r e t r i e v a l s y s t e m , o r t r a n s mit t e d i n a ny f o r m o r by a ny m e a ns ─ e l e c t r o n i c , m e c h a n i c a l , p h o t o - c o p y , r ec o r d i n g, or a ny o t h e r ─ e x ce pt b r i e f qu ot a t i o n i n r e v i e w s , w i t h o ut t h e p r i o r p e r mi ss i on o f t h e a u t h o r or publisher .

This publication isdesigned to provide accurate and authoritative information in regard to the subjectmatter covered. It is sold with the understanding that neither the Author northe Publisher is held responsible for the reader’s actions. All investmentshold risks that the reader should understand those risks thoroughly.
We would like to dedicate this book to all those who are willingto explore a new approach to life and money and become empowered to discovertheir own Millionaire Within!
Acknowledgements


"At times, our own light goes out and is rekindled by a sparkfrom another person. Each of us has cause to think with deep gratitude of thosewho have lighted the flame within us."
Albert Schweitzer



There were many influential people involved in the creation of ourbook. We are grateful to each and every one of them for their assistance,especially…
Our friends and family who supported us with their patience,consideration and encouragement over the years. They were major motivatingfactors in the development of our story.
Our clients who openly discussed the challenges they face everyday which were the basis for the solutions we have offered to our readers.
Our patient and flexible staff at Arcadia, especially SaraStollberger, who have allowed us to take the time out of our busy day to writeour book.
The late Dr. Wayne Dyer, whose wisdom and knowledge has been agreat inspiration in my life.
The writings of Anthony de Mello and others like him, whosecommitment to serving others has changed the course of human history.
The community of our financial planning peers who have served as asource of wisdom that has enriched the knowledge of our profession and allowedus to share their ideas in our book. In particular I would like to thank AndyRich, John Trotta, Rich Bergen, Bob Kleinman, Tony Papa, Dan Mazzola, AlexWasilewski and Michael Goodman.
Weston Wellington from Dimensional Fund Advisors for his intuitivediscussions on people, business and the academic research imbedded in hisinvestment philosophy.
Dimensional Fund Advisors for their incredible academic researchand the resources they provide. We would like to especially thank the advisorsin our Study Group who always have such wonderful ideas on how to better serveour clients. We would also like to thank Hunt Cairns, Stephen Kurad, and ApolloLupescu for their ideas and support over the years.
Marc Klee whose valuable friendship and advice shaped our careersand provided insight and guidance in the development of our book.
Dr. Charlotte Tomaino whose conversation with us expanded ourknowledge on the intricacies of the brain and how it affects our emotions andbehavior.
Our coaches, consultants and therapists, especially LaurieGripshover Taylor, Ginny Hudgens, and Larry Zuckerman, for keeping us sane.
My wonderful friend, Rich Snee, Columbia University graduate andfellow cross-country teammate on our ninth grade high school track team, whoassisted in editing our book. Thanks for all your time and energy!
My dear friend Renée Kappen whose memories of my family helpedshape into words the deeply moving and emotional story that became theinspiration for my career in financial planning. Her patience and expertediting were very much appreciated.
Michael Dubes whose creative insight and editorial expertise waseverything a writer could ask for in an editor.
For anyone we overlooked, we thank you for your support andencouragement throughout this journey.
Table ofContents

Preface . i

Introduction . 3

Chapter One
Knowing Yourself and Your Behaviors 5
Chapter Two
Don’t Pick the “Right” Stock. Pick the “Right”(or Left) Brain . 8
Chapter Three
How You Think Can Cause Your Wallet to Shrink . 12
Chapter Four
Parents Don’t Always Know Best 20
Chapter Five
The Magic of Music and the Science ofSynchronicity . 24
Chapter Six
Your Best Investment: Yourself! 28
Chapter Seven
Enliven Your Optimism, Increase Your Luck . 31
Chapter Eight
Adjust Your Attitude, Build Your Cathedral 34
Chapter Nine
Ignoring the Noise . 38
Chapter Ten
The “Aha!” Moment 41
Chapter Eleven
Advisors Come In Different Shapes and Sizes 45
Chapter Twelve
The Space Between the Notes 48
Chapter Thirteen
Ways to Increase Your Dollars and Sense . 52
Chapter Fourteen
What She Tackles She Conquers: Women on the Move . 60
Chapter Fifteen
Unleashing the Millionaire Within . 67

Endnotes 72
Preface


“There's no scarcity of opportunity to make a living at what youlove. There is only a scarcity of resolve to make it happen.”
Wayne Dyer



Mydaughter Allie and I decided to write this book together because we wanted toshare our mutual experiences in helping our clients and other investors changetheir perceptions about money. Most people consult financial publicationshoping to gain insights into “new” financial strategies or to find promisinginvestments for the upcoming year. In essence, they erroneously seek answers byattempting to choose the best stocks, timing the markets, or discovering thenext hot sector.
Ifanyone — a financial advisor, stock analyst, economist or crystal ball gazer —actually had a method of accurately predicting what the markets were going todo next week or next year, why would they spend their time writing a book oradvising others? Why wouldn’t they simply apply that knowledge and become amillionaire themselves?
However,Allie and I know that people tend to succeed or fail with their finances basedon their perceptions, behaviors and biases about money, not because they choosethe right stocks at the right time! The sooner investors have this epiphany,the sooner they will make better informed financial decisions. A marvelousbyproduct of this “Aha” moment is that they will come to enjoy what theyalready have and worry less about what they don’t have. It is quite atransformational experience which Allie and I have seen occur countless timeswith our clients.

Walter’sExperience
As ateenager I absorbed a great deal about life and money just by watching andlistening to my parents. My father toiled as an airplane mechanic in the 1950s,working alongside hazardous materials, making very little money in order toprovide for his family. Receiving a nickel-an-hour raise was cause forcelebration in our home!
Mymother had an equally difficult and frustrating life, laboring as a seamstressin a sewing factory sweatshop until eleven o’clock each night. After years ofstruggle and saving, they accumulated enough money to buy a small general storein our blue collar neighborhood on Long Island. My father borrowed money fromfriends and relatives for the meager down payment to finance this businessventure.
Bothmy parents worked from seven in the morning until eleven each night...the firstself-proclaimed 7-11 in America! In my early teens, while working daily in thestore, I acquired a sound work ethic, accompanied by traits that would serve mewell later in life. Working in the delicatessen and engaging with hard-workingfamilies taught me so much about the value people placed on the money theyspent and what they expected in return.
Ourfamily operated store was based on trust; no one took a salary. If we neededmoney, we took what was absolutely necessary from the cash register. Money wasconstantly an issue that concerned my parents, because there never seemed to beenough. However, even amid their financial insecurity my parents exhibitedenormous generosity toward our neighborhood customers, many of whom weresuffering financial hardships. My parents frequently extended credit to them,which most of the time was never repaid. These sincere acts of kindness causedadditional stress to our family.
Unfortunately,because of this, the business never generated enough money to support us. Mymother had to take a second job to make ends meet. The stress and financial pressureof the failing store eventually forced my parents to borrow money against thelittle equity they had in our house. The situation began to unravel becausethey were siphoning money from our home to keep the business afloat. Fear offailure and deep emotional connection to the store and their customers causedthem to continue to work in a business that was slowly eating away the onlysavings they had.
Inthe late 1960s, disaster struck. My twenty year-old brother, who was a seniorin college, was killed instantly when his Volkswagen Beetle was struck by adrunk driver head on. I was fourteen at the time and it was a pivotal anddefining moment for our family…a nightmare from which we would never awake.
Myparents lost interest in their store as quickly as they lost themselves inalcohol. Eventually the business failed and the store was forever shuttered. Iwitnessed firsthand how my parents squandered what little money remained untilit disappeared completely because life lost all meaning for them. The emotionalanguish which accompanied the death of their oldest son totally obliterated thefuture for them and caused them to make poor decisions with their money.Interestin