Spooked by the Stock Market? Before You Bolt, Read This.

Written by Barbara Huson

Big news! We’re now in the lengthiest bull market in S&P history. 9 years and counting.

For some, this is cause for celebration. For others, a source of high anxiety. How about you? Amid shaky global politics and stressful market gyrations, are you ready to throw in the towel rather than endure the tension?

I totally get it. My first foray into the market was 1986. A year later—October 19, 1987—the market took a colossal dive. I freaked out, called my broker, told him to sell everything. He begged me not to.

“The market will go up. It always does,” he insisted. “And you’re going to have capital gains tax to pay.”

But I wanted out—NOW! Well, the market recovered, quite quickly. I lost a lot of money. But I learned a priceless lesson. In the 30 years since then, I’ve stayed put despite at least 8 scary crashes. And I’m very happy I did.

Still I know how agonizing market uncertainty is. Before you do anything rash, consider what my favorite Wall Street Journal columnist, Jason Zweig, advises.

While he agrees the best move now is to do nothing, he also has suggestions for easing your anxiety.

“All your actions should be small, gradual and reversible—in case you’re wrong,” he writes. The bigger, more impulsive your moves, the more likely you’ll look back with deep regret. (Like me in 1987)

Here are some things to do to assuage your fears while protecting your future:

Pay off some or all of your mortgage. “Extinguishing a 4% mortgage, provides you a 4% return at zero risk—a deal you are unlikely to beat anywhere else,” explains Zweig.
Keep any “windfall,” like a home sale or inheritance, in cash “as a psychological cushion against your fear of a crash.”
Stop Dollar Cost Averaging, or automatically investing a fixed amount every month. Then when the market crashes and stocks go on sale, it’s buying time again.
Scale back your stock holdings, say from 70% to 50%. “You could cut back by 5 percentage points every six months or by 1 percentage point each month.”

I urge you to heed Zweig’s wisdom: better to take tiny, thoughtful steps than make hasty moves that may lead to huge mistakes.

I’d love to hear how you’re feeling about the stock market these days? Leave me a comment below.

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How to Know if You’re Really Committed

Written by Barbara Huson

I have a theory. Each of us has a Patron Saint of Risk. Every time you dare do something different—make more money, write a book, start a business—this benevolent cosmic being sends a flock of angels (disguised as negative people) to tell you what a dumb idea it is.

These folks serve a very important function. They come to test your level of commitment. If you notice, the more tentative you feel, the more pessimistic they sound.

If they succeed in discouraging you, be grateful. Deep down, you just didn’t have enough moxie to make your idea work. If on the other hand, you are determined to succeed despite all the naysayers, you most likely will.

Face it. Without commitment, you can’t possibly succeed. But once you commit fully, you can’t possibly fail.

Commitment is what keeps you going despite rejection, disappointment or failure.In fact, to someone committed, failure doesn’t exist. It’s simply one more thing that didn’t work.

What’s frustrating however, is when you vow to accomplish something but to no avail. Projects fall apart. People renege on promises. Opportunities dry up. Your enthusiasm wanes. What then?

This may be a sign you’re on the wrong track. When you’re attempting something at odds with your authentic desires, your resolve will fizzle at the first hurdle.

A few years back, I was determined to learn to ride a motorcycle. My husband, a Harley fanatic, has two in our garage. Wouldn’t it be cool if I could ride alongside him? But the moment I took a tumble on the first day of motorcycle class, that was it. Clearly I wasn’t committed. I’d be just as happy on the back of hubby’s bike.

When you find yourself perpetually thwarted with a project you’ve tackled, here’s my advice. Instead of beating yourself up or struggling mightily to make it work, step back and dig deeper. Is this something I want so badly that I’m willing to fall down repeatedly until I finally succeed? Is this my soul’s yearning or simply an arbitrary ‘should’ I put on myself?

As D.H. Lawrence once suggested: “If it doesn’t absorb you, if it isn’t fun, don’t do it!”Amen to that!

What clues do you look for to determine if what you say you want to do is really an authentic desire? Leave a comment below.

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Making Friends with Anxiety

Written by Barbara Huson

I don’t know about you. But the moment I start something new, I’m filled with anxiety, a subtle sense of dread and danger.

Like now, trying to write my next book. My inner voice is relentless in its ruthlessness. “Don’t do this.” it shrieks. “Don’t you dare do this!”

I can’t say it’s debilitating. But like a barking dog late at night, I’d do anything to make it go away.

Sitting at my desk, staring at a blank page I had a sudden flashback to an interview I did during my days as a journalist. The interview was with the famed psychologist, Rollo May, author of The Meaning of Anxiety. I knew I needed to find those notes.

When I finally did, I had no doubt…this was a pep talk directly from the Divine, through Dr, May’s words.

“Anxiety is always triggered every time we face the possibility of fulfilling our potential,” Dr. May explained.

“If it were not some potentiality crying to be born, we would not experience anxiety,” he said. “Anxiety signals danger. Not a tangible danger. But a psychological threat…to our present security.”

If we try to escape this tension and fear through drugs and overwork or apathy and denial, anxiety becomes destructive. It leads to futility.

If, on the other hand, we feel and face our anxiety, enormous creativity is possible. Anxiety acts as a stimulus, he said. “It stimulates us to find new experiences, new ways of meeting problems.”

In fact, he insisted, “It is the ability to tolerate and push through anxiety that underlies every successful endeavor. All great things were done with anxiety.”

For example, May was 82 when I met with him. He’d written over 15 books and was dubbed “one of the superstars of psychology” by Time magazine.

Yet, he confessed, “Every time I write a book, I think my writing is terrible and I don’t know what I’m saying. But I keep writing anyway.”

This is exactly what I needed to hear. My goal is no longer to mute the fear, but to muster up the courage to keep moving forward, despite any apprehension.

Yes, my anxiety persists, but my commitment is stronger. I remind myself it’s a sign I’m going for Greatness.

Have you used anxiety to push yourself past your comfort zone? Were you surprised at the results? Leave a comment below.

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Humility or Self-Sabotage?

Written by Barbara Huson

Decades ago, a coach gave me a powerful assignment. It’s something I’ll never forget.

For 2 weeks, I was to simply observe my conversations, without changing a thing. Just notice what I talked about, the words I used, my typical reactions…you know, the stuff I was sharing with others.

What I saw was not pretty.

I had a habit of putting myself down…without even realizing it. I’d constantly dismiss my skills (“Oh, that’s no big thing”), deflect praise (“I thought I was awful”), and diminish my successes (“But I could’ve done so much better”).

What felt like humility was, in truth, an act of self-sabotage. Every word of self -depreciation put another dent in my self-esteem.

“What you share you strengthen,” explains A Course in Miracles. I was strengthening my self-doubt while crushing my confidence. No wonder I was struggling.

What about you? Could you be minimizing your achievements, underestimating your value, chipping away at your sense of worth? I invite you to find out.

Spend a few weeks simply noticing what you talk about. Then ask yourself this question: Could I be undermining my success by what I’m sharing with others?

Leave me a comment below to tell me what you observed.

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Joint vs Separate Accounts

Written by Barbara Huson

If you’re married, or about to be, I have a question for you. Do you have money in your own name?

Even if you’re blissfully in love with each other, even if (s)he’s filthy rich or a financial genius, it’s critical to have your own economic identity a bank account and credit card in your own name.

In part, it’s a matter of self-protection. If anything happens to your Prince(ss) Charming, you could be in big trouble. Oh, the horror stories I’ve heard from women who couldn’t get credit or had all kinds of legal problems after losing a spouse through death or divorce because everything was listed under their spouse’s name.

Also, since money is the #1 source of marital spats, having separate accounts could minimize arguments. As Stephanie Sarkis pointed out in Psychology Today, “the less you argue about money, the closer you will feel to your partner.”

But there’s also a psychological component. A separate financial identity, even while maintaining shared accounts, makes a major personal statement. It has nothing to do with the relationship. It has everything to do with your self-concept and sense of autonomy.

Putting money in your name is about growing up, becoming an adult, claiming your sovereignty over your own life.

I’d love to hear if money is a source of strife or harmony in your relationship? Leave a comment below.

Are you in search of a safe place to talk money with other women? My brand new virtual community, The Wealth Connection, is that safe place. Click here for more info.

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A Reason to Worry….Or A Call to Action?

Written by Barbara Huson

Even the wealthiest among us—those with earnings over $200,000 or a net worth over $3 million—still worry about money.

Their biggest fear: Inflation.

Inflation is, indeed, a ravenous creature that eats into our cash like a caterpillar on a leaf…slowly, methodically, little bits at a time.

For years, however, inflation has stayed quite low. But that’s rapidly changing. The Wall Street Journal just announced, “US inflation hit its highest rate in more than six years.” And inflation is expected to keep escalating.

Is it time to start worrying? Heavens NO! The worst response to climbing costs (or most anything else for that matter) is to go into fear, which tends to have a paralyzing effect.

Instead, look at rising inflation as a resounding call to action…no matter how much or how little money you have.

The only way to counter the ravages of rising prices is to make sure at least some of your savings is working harder than it would in a bank. How? By investing in assets that grow faster than what inflation takes away.

Now is the time to make sure your money is well diversified. Here’s the standard rule of thumb for investing wisely:

Money you need in the next three to five years–for emergencies, unexpected expenses, or short-term goals–should be in cash or cash equivalents like money market funds, CD’s, or short-term treasuries.
Money you’ll need in the next five to ten years should be in a mix of stocks and bonds.
Money you won’t need for ten or more years should be mostly in stocks and perhaps commodities and real estate.

You can’t eliminate inflation. But you can do a lot to protect yourself from it.

Tell me about your biggest money fear. Leave a comment below.

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I Really Want To…But I’m So Damn Scared!

Written by Barbara Huson

I dedicate this to the women in my ReWIRE Mentorship Program—and all of you—who are on the verge of taking a big leap.]

Maybe you’re ready to open your own business. Or your gut’s saying ‘slow down, spend time in stillness.’ Or it’s become quite clear—you’ve got to start setting stronger boundaries.

You really want to take the next step. But you can’t. Fear, like a colossal boulder, stands in your way.

Of course you’re afraid. Fear is normal, inevitable, whenever you leave the comfort of the familiar and venture into the unknown.

The goal is not to eliminate fear. Because you can’t. The goal is to act in spite of it.

The best advice I’ve ever read was in an interview with writer Ray Bradbury. “Just jump off the cliff and build your wings on the way down,” he said, later adding, “If you’re too cautious, you’ll miss life.”

There’s no way around it. If you’re going for Greatness, there’s only one path: feel the fear, endure the discomfort, observe the resistance, and go for it anyway. (On the other side of fear you’ll find your power.)

But hear this! You don’t have to do it alone. The best antidote to fear, for us women, is surrounding yourself with a supportive community.

That’s why I’m starting a brand new virtual community for financially aspiring women, The Wealth Connection. (Details coming soon! Get priority notification here.)

As high earner Karen Page once told me:“Success is a social activity. You can’t do it alone. You just can’t.” Amen to that!!!

I’d love to hear your thoughts on how a supportive community (of lack of one) has impacted you. Leave me a comment below.

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The Hidden Danger of High Earnings

Written by Barbara Huson

I recently attended an event where I was surrounded by incredibly successful women. Every participant earned a high six or seven figures…more than 90% of the population.

But as our conversations went deeper, I noticed a disturbing theme. There’s a dark side to high earnings. Whopping wages can be deceptive and dangerous. I call it the Illusion of Affluence.

I saw it at that conference. I see it repeatedly with clients. High earners spending too much, saving too little, or plowing all profits back into their business. Their ample earnings gives them the fantasy, but not the security, of affluence.

Even if they can easily make a bundle whenever they want, high earners are as vulnerable to hard times and sudden change as anyone else.

Absolutely, women making big money are to be applauded. But the real measure of success isn’t what comes to you…it’s what stays with you. In other words, your net worth—the sum total of what you own minus the sum total of what you owe.

Very few high earners I meet have a net worth over a million dollars. Far fewer if the value of their home wasn’t counted. Fewer still could afford to stop working, even years down the road.

If you’re a successful high earner, or on course to becoming one, ask yourself this question: Isn’t it time my money works as hard for me as I do for it?

I promise, wealth building doesn’t need to be overwhelming or time consuming if you start following these 3 steps:

Delegate—find financial professionals to help you create a plan and keep you on track
Automate—every month automatically have a specific sum of money transferred to a savings account and also your brokerage firm.
Educate—everyday, read something about money (peruse the headlines of the business section of the paper or browse through a financial magazine). I call it the Osmosis School of Learning.

All it takes is a few minutes of daily reading, the support of trusted advisors and the habit of consistent savings to become a truly affluent woman…regardless of how much (or how little) you earn.

Leave a comment below and tell me how you make your money work for you.

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The Miraculous Power of Taking Responsibility

Written by Barbara Huson

I clearly remember when I was in the depth of despair, unable to restrain my gambling husband. He had depleted our bank account, putting me and our daughters at terrible risk.

I turned to A Course in Miracles for solace. Instead of the solace I sought, I opened to a passage that shook me to the core.

The Course told me, in no uncertain terms: “I am responsible for what I see. I choose the feelings I experience and I decide upon the goal I achieve. And everything else that seems to happen to me, I ask for and receive as I have asked.”

In other words, the Course said, “You are doing this unto yourself.” Quite a harsh pill to swallow…even from my beloved Course.

At first I was furious. How dare anyone even suggest I’m responsible for my husband’s recklessness. He lost my money. Not me.

But as my anger subsided, those words—no one did this to me; I [was] doing it to myself—began to make sense. I finally understood what the Course promised—taking responsibility would be “my salvation.”

This mess wasn’t solely my husband’s fault. I was as culpable as he. He may have gambled away my inheritance, but I was the one who gave him the keys to the kingdom by abdicating control.

Regardless of my husband’s actions, my choice to be a passive victim, was the real culprit. Once I realized my role in this disaster, once I started taking responsibility, everything changed rather quickly.

Over time, I was able to not only forgive, but to actually thank my ex for losing my inheritance and my father for not bailing me out. After all, it was because of them that I discovered my calling.

Once I assumed personal responsibility, my passage to financial empowerment shifted into high gear. Sometimes, the best financial advice comes from the most unexpected sources.

I’d love to hear if miracles have occurred for you when you’ve taken responsibility…which isn’t always easy, is it? Share your story below.

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A Lesson in ReWIRING

Written by Barbara Huson

I have always found myself yearning for more…more money, more success, more sales, more ______ (fill in the blank).

I proudly considered this constant yearning a healthy sign of a robust ambition—until I began studying neuroscience. Then I realized how truly unhealthy this kind of thinking actually is.

Here’s why. We literally sculpt our brain by what we dwell on. The more we think a thought or feel an emotion, the stronger that neuropathway becomes in our brain.

By constantly hungering for more, I was inadvertently telling my brain “I don’t have enough.”

The more I repeated that thought, the stronger the “not enough” neuropathway grew, until I’d unconsciously do things that kept reinforcing my experience of “not enough”.

Slowly it dawned on me. How can I expect more, if I repeatedly focus on what I had not yet attained?

Clearly, I needed to shift my focus to rewire my brain. So I decided to experiment. Every time I felt myself coveting anything, I stopped, took note and shifted into appreciation for what I currently had.

More money? I took a peek at my bank account, and gave thanks for the amount presently there. More success? I gratefully reviewed what I’d achieved up to now. The moment the thought creeps in, “but it’s not where I want to be…” I stop and refocus on how far I’ve come.

I invite you to join me. What if you shifted to gratitude for what you already have, rather than gazing into the future, longing for more?

I’m not asking you to give up your desires. But I am suggesting that you view your desires through the appreciative lens of how they’ve been at least partially fulfilled.

Then watch what happens. If your experience is like mine, you’re in for a few miracles!

Leave a comment below to let me know if practicing gratitude for what you already have creates miracles in your life.

Interested in learning more about reWIRING your brain? Click here for details on my 5-month reWIRE Mentorship group.

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Blog

Spooked by the Stock Market? Before You Bolt, Read This.

How to Know if You’re Really Committed

Making Friends with Anxiety

Humility or Self-Sabotage?

Joint vs Separate Accounts

A Reason to Worry….Or A Call to Action?

I Really Want To…But I’m So Damn Scared!

The Hidden Danger of High Earnings

The Miraculous Power of Taking Responsibility

A Lesson in ReWIRING

Meet Barbara Huson

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