Author: Rachit

  • Overcoming Challenges

    Every day is an opportunity for growth and development. As I go through the day to day challenges in life, before I often wondered are we just moving from one challenge to the next, however now I feel encouraged and looking forward to new challenges.

    I realize now that means I am ready for more responsibility and to be of more service to others. The next opportunity signifies that I have learned my lessons from the current circumstance and am ready to move on. I feel a serene satisfaction knowing that these obstacles in my life are something to work on myself for my benefit and to be keenly aware of the lesson.

    When doing a self to self-comparison, I can see the difference over the past years in my self in terms of self-awareness and handling of emotions. I incorporate the attributes from others which are lacking within me. As new challenges arise I can see how my responses to them are different now becoming wiser and gaining life experience.

    Being more in tune with oneness and living more in the present moment, I have to come to trust my intuition and acknowledge there is no right and wrong answer but rather to simply trust the process and practice love, understanding, and forgiveness.

  • Poised For Growth

    This is an idea I have been pondering for a while. The idea of knowing how far you have come all while realizing how far you have to go. Knowing that as you pass through the stages of mastery you eventually become a beginner again.

    I really like the idea of flowing water where it remains flexible and takes the shape of the container it takes. Whether we like it or not, we have to be flexible. Instead of fighting resistance, what if we could actively be in the learner mindset.

    The inspiration for this post came from reading about business articles that the X industry is poised for growth this year. I thought doesn’t that apply to our individual lives. Imagine having a conversation, “Hey Friend, next year my fitness levels are poised for growth”. No one talks like that but shouldn’t we? Isn’t our most important job to live life well.

    I find it fascinating that you can plan out different areas of our lives and work on them. This allows you to develop a holistic approach to our multi-faceted lives. I know I am poised for growth in appreciating life for all its magnificence.

  • Personal Infrastructure

    Slowly but surely my quality of life improves. It’s not just from one thing that makes a big difference but rather a combination of different things coming together that add to our lives.

    I have noticed and benefited this first hand over the last few years and am continually improving my life. Take a look at your life in the last 10 years, there has been a lot of change. Infrastructure in your local community, city, and country has been upgrading, but has your personal infrastructure improved?

    These are material things such as technological items such as your smart phone, TV, computer, and car. This also means physical things such as your bed, desk, sheets, pillow, and housing in general. Then your inner infrastructure such as your diet and thoughts. Are you keeping up with the trends or becoming stagnant?

    It’s all a momentum based snowball working forwards or backwards by starting small. Having a good night’s sleep means you are alert and present, having a good working car or public transportation means you are on time and productive. Having a good internet and well-programmed software means you can actually do what matters and not waste time. Then it progresses you forward, now you have more time to invest in yourself by having access to good food allowing you to have more energy.

    It’s always best to take a holistic view of your self and make sure you are keeping pace with all the changes. Being strategic in your purchases and thoughts can add greatly to your quality of life. Countries that continually invest in great infrastructure are the ones prospering. People who invest continually in their own personal infrastructure are setting themselves up for success.

  • Optimizing Your Finances

    I started on my personal finance journey a few years ago.  I remember it was such an exciting journey. This is a follow up to that post.

    Overall I am gaining confidence in my money management skills and am on track with my goals. I have learned a few practical tips along the way that has helped me make better financial decisions.

    Credit Cards:

    I have learned the power and convenience of using these plastic cards. Being responsible and diligent is key to unlocking the full potential. I have find it is convenient to have all three Visa, MasterCard, and Amex.

    I always use credit card for all purchases and use different ones for different credit categories. I optimize the cash back rewards, travel benefits, and fees to gain maximum value. I am slowly getting better at this.

    There can be perks such as insurance on trips, purchases, and fraud protection not gained in paying with cash. Doing the math of which card provides what value and with how much annual fee can be extremely useful.

    Credit Score:

    Building a credit score is vital and by getting a credit card and using it wisely can set you up for financial good health. I always make my payments on time and use a about 0-30 % of the credit limit  between all the cards.

    It is important to understand how the credit score is calculated and the difference between hard and soft credit checks. Additionally getting your credit report annually and using free credit monitoring services will help you keep track of all activities.

    Buying things:

    • Big Ticket Items > $100 = Think about for a day or plan ahead before purchasing.
    • Major Items >$1000 = How much long term value will this have in 3- 5 years?
    • Food/Drinks – Treat yourself once in a while, try to be healthy

    Buying experiences:

    • Day events < $100 = 2-3 times a month
    • Day events > $100 = Must be special and worth it
    • Vacation – Think about difference between relaxing trip or busy sight seeing trip

    Budgets:

    I often had a tough time to sticking to a budget. I feel a more trend based approach is better. This starts with tracking every single last cent of your money. Using software such as excel, bank websites, and mint makes this much easier. Giving you an overall big picture of your money makes it much easier to see where you can spend or save more. 

    Savings:

    My goal has always been to save 20-30% of my pay. Firstly by having an emergency fund of a month or two gives you a mental buffer to overcome unforeseen circumstances. Then by saving for certain goals gives you the foresight to see how much you may need in the future. 

    Investments:

    Maximizing your tax free savings account is the goal first, then retirement savings, then any other investment vehicles such as taxable account, education savings, medical savings etc

    Utilizing broad market index funds in those investment vehicles mentioned above is ideal as they are diversified and can be purchased from a online brokerage saving you fees. Look out for transaction fees and aim for a low MER of less than 0.75%.

    Debt:

    Ideally no debt should be the goal. Student, credit card, car debt should be payed off first due to high interest. Mortgage can be a calculated risk to pay off over long term if looking at inflation and compound interest. 

    Insurance:

    This is a key one and I am still developing my knowledge base on this. I find it is best to combine policies when possible and always shop around. Home, auto, personal, life those are the main ones.

    Taxes: 

    Optimizing tax incentives and understanding all your benefits is the key. Spending time reviewing deductions, tax brackets, and learned how your tax dollars are at work will give you a deeper satisfaction knowing you have done your part in optimizing this mandatory part of life.

    As with anything in life, constant learning is key. I am looking forward to grow my personal finance knowledge base in the coming years. It takes a lot of effort understanding the the big picture and intricate details but you feel better about it each time.

  • Wiser Every Year

    Every new year is an excellent opportunity to reflect and learn more about yourself.

    I am often astonished at how much one can change every year. To truly notice these changes I use a set of goals and track my progress throughout the year.

    I start off with big yearly goals in my finances, health, relationships, career, spiritually, and personal growth. I break these down over the months and every so often I check in on them and see if I’m on track.

    Learning through school and work I enjoy applying project management skills to my life. Getting an honest holistic picture of where I am and want to go gives me a sense of satisfaction. In turn, this organization helps me achieve life management and allows me to take calculated risks.

    As I get more confident about myself and in my understanding of the world, I can tackle bigger challenges and work towards my vision of my life. This yearly reflection also allows me to think deeply about where I am going really where I need to be or should I take a different approach.

    I embrace new challenges and disruption in my life. Usually, a set of circumstances arise that may totally alter the current trajectory and I have to use a solutions-based mindset to either get back on track or forge a new path that is still in alignment with my goals.

    Recently, in the last few years, I have developed my core self-concept. I aspire to live by a code of ethics and values. As I know myself more and live to a higher standard, I can also use this as a framework to make decisions in achieving my goals.

    I get excited more about life each day. I learn to appreciate how interconnected we all are and beautiful this planet is. The more knowledge and wisdom I gain about myself and the world allows me to work on my thoughts and live a fuller life.

  • Life’s Treasures

    I absolutely love the gift of life. Each year I grow to appreciate and love life even more. I’m genuinely amazed as I continually expand my mind.

    Having the freedom to explore your thoughts, understanding, practice gratitude, and work to be at peace with yourself is what I strive for.

    That feeling of knowing and experiencing oneness. I am where I need to be and can respond to situations as and when they come in a positive manner.

    Harnessing the power of emotions to feel the upper echelons of happiness and contentment while at the same time yearning for more. Feeling happy that you are becoming the person you need to be.

    Being surrounded by external influences yet you have a vision that is shining brighter each day whilst having absolute faith in yourself and the process.

    Being connected to others, nature, and appreciating the wholesome nature of the universe. Thinking in abundance and embracing the values of a prosperous being.

    Always in a state of aweness. Having fun, becoming joyful, practicng peace, love, and forgiveness. Realizing that everyday is a blessing in this cosmic journey.

  • Moment to Moment

    Every day I am realizing just how great life is in simple moments. It’s those special moments you have often that put on a smile and give a deep sense of knowing.

    I enjoy being in nature and going to parks. It helps me to be present at the moment. Breathing in fresh air, surrounded by nature, and staring at the body of water if present envokes a sense of calmness.

    It’s those other moments too, a warm hug, a nod by a stranger in the street, a courteous driver, the first sip of a warm drink, and the feeling of satisfaction after a good meal shared. It’s these moments that cheer you up.

    It’s so easy to get lost in different trains of thoughts, from building to do lists to shopping lists, bill payment reminders, and general day to day worries. I yearn for those moments that center me.