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Water View

Letting Go

Written by Barbara Huson

“For better to come, good must stand aside.” Carl Jung

I saw the above quote by Carl Jung when I was living in Kansas City, raising two little girls, running a thriving career counseling firm. Business was hopping, but I wasn’t happy. I was longing to live near water and write.

This made no sense at all. I’d never written anything. And there was no water in KC (at least none that I’d want to live near!). Why would I give up a flourishing business, uproot my kids, leave behind a network of friends and reliable babysitters?

That’s when Jung spoke to me. I instantly knew those words were meant for me. It was time to give up ‘good.’ Something ‘better’ was waiting to enter.

The moment I decided to give up my business, someone on my staff offered to buy it. Within 6 months I was living on the side of a hill, outside San Francisco, overlooking water. Then, out of the blue, a national magazine asked me to write a monthly career column. And they paid me!!! I was officially a writer.

Seven books later and still living on the water (now in Washington state), I have enormous respect for the power of Letting Go. And the scarier it is to release, the more magical the results.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

Money

Financial Problems? Make Them Your Friend.

Written by Barbara Huson

If financial success has been illusive, take a tip from high earners. Their financial achievements are often preceded by a financial challenge. It was by finally facing the problem, head on, that they cleared the path to success.

A financial challenge could be anything from a gnawing sense something’s wrong to the gut wrenching pain of staggering debt.

Here’s what you need to understand. Financial problems are rarely about money. They are, more likely, the call of your soul trying to get your attention. What begins as a whisper, if ignored, will grow increasingly louder.

Instead of viewing the challenges as a curse, high earners saw every problem as a powerful opportunity for personal transformation.

Confronting and solving a financial challenge enabled them to walk through the door between the mediocre life they were living and the powerful life they could be creating.

There is no magic bullet for solving a financial challenge. Nor would you want one. It is the process that empowers.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

Risk Ahead Sign

How Much Risk Can You Tolerate?

Written by Barbara Huson

Risk tolerance. You’ve probably heard those words bandied about when talk turns to investing. But do you know what they mean?

Risk tolerance is generally defined as the ability to stomach large swings in the value of your investment portfolio.

Because the market, by nature, is very volatile, understanding your risk tolerance is vital for making prudent decisions.

Here are 3 factors to help you figure it out.

The first factor is time. When will you need the money? Generally, you can take a lot more risk if you’ve got 10-years or more. Money you need in the next 3-5 years should all be in cash. You don’t want to be forced to sell if the market is down.

The second factor is cash reserves. How much cash do you have on hand? If all your money is fully invested, with no extra cash to cover you unexpected expenses or emergencies, that would be a problem, especially if you have to sell when the market is down.

The third factor is sleep. How much volatility can you stand before you start stressing out, unable to sleep at night? We all know what happens if we don’t get enough shut-eye. Everyone suffers!

Those factors are crucial considerations. But in the end, risk is like spicy food…you don’t really know how much you can tolerate until you’ve tasted it.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

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Finding Good (Financial) Help

Written by Barbara Huson

Of all the women I’ve interviewed, the ones with the highest net worth didn’t necessarily earn (inherit or marry) the most money. The whopping majority worked with financial professionals…most often with a whole team (including a financial advisor, an estate attorney, a CPA, and a bookkeeper).

I’m a big fan of hiring financial experts. I wouldn’t fill my own cavities or set my own broken bone. Would you? We’d leave that to a specialist, someone who’s had extensive training and that’s pretty much all they do.

But I must warn you: Financial professionals make lousy Prince Charmings. Don’t ever hand over your money, close your eyes, turn your back, and hope they take good care of you. You need to be educated and involved. A good advisor will make sure you are.

Another Warning: Resist the urge to sign up with the first advisor you meet. Interview at least three. Ask questions such as these, then go with your gut instinct:

  1. Would you tell me about yourself?
  2. Do you specialize in certain investment
  3. Who are your clients?
  4. How do you charge for your services, and what costs might I incur working with you?
  5. How often do you communicate with clients, and how often might I expect to hear from you?
  6. Would you be willing to educate me about investing and finances in general?
  7. Have you ever been involved in any lawsuits, arbitration, or disciplinary problems?
  8. Is there anything you want me to know about you that I haven’t asked?

Need more help? I’ve written a booklet filled with great advice: Finding A Financial Advisor You Can Trust. It’s available here.

You’ll learn about hiring the right professional and protecting yourself by being a good client.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

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The Secret to High Earnings in Only Five Words

Written by Barbara Huson

One day, I was glancing at the Wall Street Journal, when 5 words grabbed my attention. “The survival of the focused.”

I knew those five words carried a powerful message. A message quite familiar to High Earners. But one Underearners have failed to grasp.

Financial Success belongs to the focused.

Without focus, it’s easy to get sidetracked by multiple distractions fighting for your attention. But with focus, conflicting objectives cease to control you, making it easier (and less stressful) to take decisive action without second guessing.

What’s the trick to getting focused? Prioritize. Put your attention exclusively on your priorities. All else goes on the back burner.

Sadly, most of us don’t know what our true priorities are. We carry around lengthy to-do lists, then berate ourselves unmercifully when we don’t cross everything off—a sure-fire recipe for failure.

What if, instead, you take everything on your list, all those items you simply must do, and narrow them down to 5 items—the 5 tasks that are really truly essential, that reflect your most cherished values, what’s most important to you?

Those 5 are your priorities. They take precedence when scheduling your time. If it’s not a priority, it’s a distraction.  Each time you cross one task off, you can add another.

Does watering your plants or cleaning the kitchen carry the same weight as working out at the gym or playing with the kids?

There’s no one right answer, only the most truthful one.

Need help determining your true priorities? Try this Values Clarification Worksheet.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

Lifting the Financial Fog

Written by Barbara Huson

I lived most of my life in a financial fog. But the fog finally lifted when I stopped focusing exclusively on the Outer Work of Wealth (practical), and began doing the Inner Work of Wealth (psychological) and the Higher Work of Wealth (spiritual).

I’m here to tell you, when these three strands are braided together, miracles occur.  Attaining knowledge and competency is important, just as releasing emotional blocks and outmoded beliefs are liberating.

But when you bring in the third prong, the Higher Work, you’ll notice a significant shift.  When you take the admonition on our currency to heart—In God we trust—something remarkable happens.

Resistance dissolves. Fear shrivels. Discouragement gives way to inspired commitment and impressive courage. Struggle is replaced by unexpected synchronicities and a deep sense of trust in the inexplicable forces of the Universe.  The process becomes a transformational journey, a sacred initiation into our power.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

The Busy Woman’s Blueprint for Wealth Building 

Written by Barbara Huson

Soon after divorcing my gambling husband, I got a call from a friend of my father. He wanted me to invest in a Limited Partnership he was forming, TJ Cinnamons, a fast food place that made sticky buns.

I had no idea what a Limited Partnership was, but this man was wealthy, smart, successful, so it had to be a great thing, right?

I didn’t know that you can’t sell shares in a Limited Partnership because there’s no market for it. When TJ Cinnamons went under, I lost my investment.

That calamity taught me a critical lesson. I call it the #1 Law of Investing: Never put money in anything you don’t understand. I was determined to educate myself.

That’s when I devised The Busy Woman’s Blueprint for Wealth Building. Otherwise known as the Osmosis School of Learning.  It consists of only 2 steps. Do them consistently, and you will be amazed, in just a short time, how much smarter you’ll be.

1) Everyday, read something about money, even if it’s just for a minute or two, even if it’s just glancing at the headlines of the business section of the newspaper, or a money magazine while you’re waiting in line at the grocery.

2) Every week, have a conversation about money.  You can learn so much from people smarter than you. Anytime you meet someone versed in investing, ask how they got smart, the mistakes they made, and what they’d recommend to help you learn.

Try these 2 steps and watch what happens. They worked so well for me that, to this day, I still do them.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

A Sneak Peek into The Women’s Wealth Weekend

Written by Barbara Huson

I’m ready to throw back the curtain a bit, give you a glimpse of what I have planned for my Women’s Wealth Weekend: The Awakening.

I promise, you have never attended an event like this. I’ve been wanting to do this for years.  I finally worked up the courage to take you on a unique Metafiscal journey that answers an important question:

Why are a small minority of people, the top 20% (what I call the Enduring Affluent), able to not only create but increase their wealth, over long periods of time, despite often significant setbacks?

This weekend is not about fixing you or changing you. It’s about waking you up to the truth of who you are, the power you have to literally move mountains, as women.

My intention is to challenge your thinking. I have only one request. Come with an open mind—willing to accept that much of what the world has taught you, much of what you’ve learned about who you are, could be wrong.

Here’s the sneak peek into the agenda for this special event:

Day One: Friday

The amazing Amanda Steinberg, founder of DailyWorth.com & WorthFM, will talk about your money type…what really motivates you to wake up financially.

Find out which type YOU are at www.moneytype.me. You may be surprised…you will absolutely be enthralled, by her eye-opening talk. Then we’ll have dinner together in a private pavilion.

Day Two: Saturday
 
You’ll dive deep into Power Training. Not as the world defines power. But as the Awakened understand it: Mind Training. You’ll learn a simple but profound 3-step process for harnessing the power of your mind to create the wealth you desire and the life you deserve.

Day Three: Sunday

You’ll learn about Wealth Creation, but, again, not as the world teaches it. You will be infusing spiritual wisdom and personal insight into basic wealth building principles.

 

Day Four: Monday

On the final day you’ll create an individualized plan for moving forward as an Awakened Woman. And you’ll learn about options for follow up support. We’ll conclude with a farewell lunch.

As a Chinese proverb says:  “When sleeping women wake, mountains move.” It’s time to wake up. This crazy world needs Awakened Women. So that we may go out and help awaken others.

If you are ready for the Awakening, I urge you to click here to register today. And, don’t miss out on the special VIP package—it disappears this Thursday, September 8th.

 

Negotiation

Top Ten Tips for a Terrific Negotiation

Written by Barbara Huson

1 Know what you want. Research the going rates in your field. Ask the high end of the spectrum. You can always negotiate down, but never up.

2 Have points prepared. Build a case around your value and what you bring to the company.

3 Always start negotiations on a positive note.  For example, thank the employer for the opportunity and make a counter offer.

4 “No” means “not now.”

5 Negotiate more than money: early salary review, signing bonus, relocation costs, profit sharing, flexible schedule, paid time off, benefits, perks, educational programs, expense account, club memberships, bigger office, laptop, cell phone, job title.

6 Act confident (even if you don’t feel it). Perceived confidence has a big impact.

7 Request 24 to 72 hours to think over the offer.

8 If someone acts put off by a reasonable counter offer, consider it a red flag or negotiating ploy. Perhaps the employer doesn’t value what you bring to the table. Or it’s an effort to intimidate you into agreement.

9 The best time to negotiate, or renegotiate, is when you have job offers from another company.

10 Above all, focus on relationship building. It’s a lot more difficult to say ‘no’ if they like you.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

Woman with Financial Plan

Gotta Plan?

Written by Barbara Huson

I vividly remember a woman in one of my classes who stood up and proudly announced that she had maxed out her 401(k) and had a hefty portfolio outside her retirement. She’d been buying stocks based on the recommendations of her cousin who worked at a brokerage firm.

She had a right to be proud. But when I asked if she was following a plan, she looked bewildered.

“How do you know if the portfolio is properly diversified for you?” I asked. “How do you know if you’re taking too much or too little risk?

I then explained the difference between gambling and investing.

Picking stocks or bonds haphazardly, following a hot tip or purchasing the hottest fund, trying to time the market (buying when it’s high, freaking out and selling when it plunging), or just simply deferring investment decisions to another and turning your back…that’s gambling.

Investing, on the other hand, is a means to an end. The whole point of investing is to put together a portfolio that ensures you meet your goals.  If you don’t have some sort of idea of where you want to end up, it will be far more difficult to make the right choices.

A  good financial plan addresses three questions: Where are you now financially? What are your goals (short term and long-term)? What do you need to do to achieve your goals?

Once you identify the gaps between where you are now and where you want to go, you can create a realistic game plan with the right mix of investments based on your time horizons, budgetary restrictions and risk tolerance (how much volatility can you stand and still sleep at night).

Sure you can do this on your own. But my advice: Hire a fee-only Certified Financial Planner or a financial advisor you trust.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

Meet Barbara Huson

When a devastating financial crisis rocked her world, Barbara Huson knew she had to get smart about money… and she did. Now, she wants to empower every women to take charge of their money and take charge of their lives! She’s doing just that with her best-selling books, life changing retreats and private financial coaching.

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