Connect with us

News

Improving Investor Behavior: How do you measure your wealth?

Published

on

Improving Investor Behavior: How do you measure your wealth?

How do you measure your wealth? Most people assume there are two typical ways. The first is a simple money calculation that takes everything you own, subtracts everything you owe, and that formula gives you your net worth. Simple. Others say wealth is not a measure of the money one has but of the intangibles such as relationships, time, health, etc.

The trouble with the first approach is that money is simply a scorecard, a measure of available resources quantified in dollar bills. It misses out on everything that the second approach captures: the wealth found in personal connection and freedom of time. But it’s hard to pay your bills with friendship, so the second method misses out on some of the pragmatism found in the first. As a result, I think it’s essential to measure wealth with a combination of the two and with one simple word: value.

Steve Booren

Money is a byproduct of creating value for others. We are paid for the value we provide to others, and we pay others for the value they create for us. For example, I have no idea how the water in my plumbing works, but I know that in exchange for a number of dollars, I can hire someone who has spent their life understanding how it works and what is needed to keep it working. They create value for me with their skillset. Likewise, I create value by helping others understand what’s important about money and guiding them toward a bigger future. I receive money in exchange for that value.

So really, our wealth is not in the money we have, but rather in our ability to make that money. Our wealth does not come from the dollars themselves but from the knowledge and skills that generate those dollars. That’s our value, and that’s where we find the confidence so many are seeking.

In “Total Cash Confidence,” author Dan Sullivan refers to the acronym K.A.S.H. or knowledge, attitude, skills and habit. Taken together, these attributes are what creates confidence. K.A.S.H. confidence comes from understanding that you can provide value to someone when they want something done but don’t want, or know-how, to do it.

Going one step further, I think our wealth is a function of our value. Creating value for others often results in payment for that value. Create more value, receive more money. This recurring loop creates an endless marketplace of wealth for those who can help others. That payment may be monetary, but it also applies to relationships. Think about it: We invest our time and energy in those we choose to have around us. We create value by being there when they need us and receiving value when they do the same. In this way, our measure of wealth captures both the tangible and intangible. Whether the deposits go into our emotional bank or our regular bank, we can improve our wealth through the value we create.

This is why so many people struggle with the traditional idea of retirement. When people strive to achieve a certain portfolio balance and then quit their career, they aren’t retiring to anything. They aren’t going to something; they are moving away. When people are in the creation phase, their futures are more extensive. They receive intellectual, emotional, and resource deposits. When they “arrive” at a number or an age then decide to quit creating value and retire, their future tends to shrink. If the value of their portfolio decreases when they are no longer creating value for others, fear often sets in.

google news
Advertisement
Click to comment

News

Ravens coach John Harbaugh on defense’s ‘biggest problem,’ Patrick Mekari’s ankle injury and more | NOTES

Published

on

50 Colo. Time dealers, Wells are auto fame inductees

The Ravens’ biggest problem on defense this season hasn’t changed. If they can’t tackle, they can’t succeed.

Tackling woes again plagued the Ravens in their 41-17 loss Sunday to the Bengals, with Cincinnati quarterback Joe Burrow amassing nearly half of his career-high 416 passing yards after the catch, according to Pro Football Focus. Running backs Joe Mixon and Samaje Perine also ripped off fourth-quarter touchdowns against a defense that couldn’t bring them down.

As the Ravens enter their bye week on a low note, their defensive fundamentals are under the microscope. That has been the case seemingly all season, even after spirited wins.

“The biggest problem we have on defense right now, in terms of big plays, is not getting guys on the ground, whether it’s been underneath slant routes or screen routes or, in one case, we got the screen-and-go,” coach John Harbaugh said Monday, referring to Bengals tight end C.J. Uzomah’s 32-yard catch-and-run touchdown in the third quarter Sunday when he slipped past safety DeShon Elliott in the open field.

When the Ravens return in Week 9 for their home game against the Minnesota Vikings, there will be little letup for the defense. Running back Dalvin Cook averaged a broken tackle every 9.5 carries last season, according to Pro Football Reference, though his elusiveness has slipped this season. Wide receiver Justin Jefferson, who starred alongside Bengals rookie Ja’Marr Chase at LSU, is ninth in the NFL with 542 receiving yards.

“Until we get [tackling] fixed, we’ll be a very mediocre defense, generally speaking,” Harbaugh said. “Our guys understand that. … When we play really good defense, we’re tackling. And that’s got to get done. And there’s a lot of reasons for that. Sometimes they’re not pushing to the right zone, so there’s more space in there than there should be. Other times, we take a bad angle. Sometimes a guy’s not covered.

“There’s different reasons for it, but the results are uniformly not good. And you’re a consistent, good defense when you consistently do all the little things well. And when we start doing all the little things well, then we’re going to be a better defense.”

Mekari hurting

Harbaugh declined to comment on right tackle Patrick Mekari’s condition, saying only that he has an ankle injury. The NFL Network reported Monday that Mekari, who was hurt in the second quarter, suffered a high-ankle sprain and is “seeking more feedback.” High-ankle sprains generally take at least a month to recover from.

Mekari is the Ravens’ highest-rated tackle, according to PFF, and played every offensive snap from Week 2, when he took over after Alejandro Villanueva moved to left tackle, to Week 6. Harbaugh said last week that he “couldn’t ask for a better player there [at right tackle] right now.”

With Ronnie Stanley (ankle) sidelined for the season, the team will likely turn once more to Tyre Phillips, who started at left guard in Week 1 before suffering a minor knee injury. He replaced Mekari on Sunday and struggled against Cincinnati’s pass rush.

“We’ll just see where it goes,” Harbaugh said of Mekari’s injury.

Extra points

  • Harbaugh called the Ravens’ performance Sunday “our worst game of the season, worst game in a long time.” But he stressed that the team is not even at the midpoint of a long season. “We’ve got 10 games left,” he said. “We need to keep growing as a football team and building on what we’ve done and what we haven’t done and make the strongest run we can for the next 10 weeks, and that’s what we’re planning on doing.”
  • After Ravens running backs combined for 29 rushing yards on 11 carries Sunday, Harbaugh was asked about the position’s struggles on the ground. “We just have to block better, scheme better, run better,” he said. “There are specifics in there in terms of schemes, and every play stands on its own. But we can’t go through all — how many run plays have we had this year that haven’t been successful? You can go through every one of them and you get the specific answer.”
  • Defensive lineman Derek Wolfe (hip/back) is “very close” to returning to practice, Harbaugh said. Wolfe has yet to play this season after suffering an injury in training camp. “This week, next week, hopefully, and we’ll see,” he said.

©2021 Baltimore Sun. Visit baltimoresun.com. Distributed by Tribune Content Agency, LLC.

google news
Continue Reading

News

Patriots-Chargers injury report: Devin McCourty not listed, 15 limited Wednesday

Published

on

50 Colo. Time dealers, Wells are auto fame inductees

Oct. 28—The Patriots listed 15 players on their initial practice report Wednesday — and that meant good news in New England.

Why?

Veteran safety Devin McCourty, who missed the second half of last Sunday’s game with an abdomen injury, was not listed. As a full participant in Wednesday’s padded practice, McCourty should be expected to play this weekend at the Chargers.

None of his teammates were absent Wednesday, including rookie corner Shaun Wade, who had missed the last three weeks with a concussion. Pats linebacker Dont’a Hightower has also recovered from the hurt elbow that contributed to him missing Sunday’s win over the Jets. He’s now only limited because of an ankle injury.

The Patriots’ complete injury report is below. The Chargers’ will be released later Wednesday evening.

Limited

C David Andrews (ankle)

LB Ja’Whaun Bentley (ribs)

WR Kendrick Bourne (shoulder)

DT Carl Davis (hand)

S Kyle Dugger (neck)

K Nick Folk (left knee)

DT Davon Godchaux (finger)

LB Dont’a Hightower (ankle)

LB Brandon King (thigh)

G Shaq Mason (abdomen)

TE Jonnu Smith (shoulder)

LB Josh Uche (shoulder)

LB Kyle Van Noy (groin)

CB Shaun Wade (concussion)

DE Deatrich Wise (knee)

(c)2021 the Boston Herald Distributed by Tribune Content Agency, LLC.

google news
Continue Reading

News

Omar Kelly: Dolphins players say lack of veteran leadership contributes to skid

Published

on

Omar Kelly: Dolphins players say lack of veteran leadership contributes to skid

MIAMI GARDENS, Fla. — Last year Ryan Fitzpatrick lost his starting job to Tua Tagovailoa, the rookie quarterback the Miami Dolphins wanted to build around.

Nevertheless, the savvy veteran was still called on in emergency game situations when clutch play was needed and retained his alpha male status in the locker room, which is why he was given the Leadership Award by his teammates at the end of the 2020 season.

Ereck Flowers taught Miami’s young offensive linemen how to be pros on and off the field, and former Dolphins center Ted Karras taught them how to study film and made proper in-game protection calls.

Former Dolphins safety Bobby McCain held the secondary together, making all the coverage checks and calls, keeping the unit on one accord.

Linebacker Kyle Van Noy made many of the front-line checks and got everyone in position. According to team sources, Van Noy also routinely challenged the coaching staff about troublesome game plans and in-game calls, keeping them accountable to the players.

If we’re doing a deep dive on what’s gone wrong this season with the Dolphins — attempting to explain how a 10-6 team in 2020 delivered a 1-6 start in 2021 — we have to bring up the purge of leaders that took place this offseason.

As a free agent, Fitzpatrick moved to Washington, where he was named the starter before injuring his hip in the season opener, and Tagovailoa has struggled to come out of his shadow as a leader, not player.

“He’s great, and he’s trying,” one Dolphins player said about Tagovailoa, who owns a 7-6 record as Miami’s starting quarterback heading into Sunday’s game against the Buffalo Bills (4-2). “But it’s not Fitz.”

Releasing Van Noy and McCain, trading away Flowers to move up 14 spots in the seventh round of the draft, and not re-signing Karras created cap space. But their departures left leadership voids on units that have struggled this season.

Miami’s linebacker unit has have been a mess, and Jaelan Phillips has struggled to replace Van Noy. The secondary constantly features breakdowns, although Jevon Holland has shown early promise as the starting free safety. The offensive line is on its third starting center and lacks a quality NFL starter like Flowers, who has started every game for Washington this season.

In a tough stretch like Miami’s six-game losing streak, leadership matters, because it is those veterans who are responsible for the heavy lifting when it comes to restoring morale and instilling fight and belief into the team.

Elandon Roberts, Jesse Davis and Clayton Fejedelem, who were all captains in 2020, and receiver Mack Hollins are doing their best to steer the Dolphins into less troubling waters.

But somehow, this team has lost its way.

“As a leader, you learn that it’s hard to motivate people. You’ve got to learn from each individual person what each individual person needs,” said Hollins, who was named an offensive captain this season.

“There are guys that need to get [yelled at]. There are guys who need to be brought over to the side. There are guys that you need to tell their best friend that [they] need to talk to them. Being able to maneuver that is something all leaders [must do]. You never complete that job. It’s never I know how to work with everybody, especially in this league because there are always people changing, there are always new teammates, there are always new players.”

And that’s part of the problem the Dolphins have had trying to build on 2020′s success.

Two weeks ago, the Dolphins held a players-only meeting to address what they felt were the team’s pressing issues.

There was talk about accountability, lack of effort and commitment, doing the extra things in practices and the team’s preparation, the need for more excitement and energy on the field.

Plenty of talk happened.

The problem is, it didn’t stop the bleeding, and sources say the solutions proposed — more energy, more accountability — weren’t going to fix anything, because it’s on-field execution that has been the issue.

“Are players who make mistakes getting benched?” a Dolphins defender asked. “Are they losing their roles? They pushed out the veterans for the young guys, and then wonder why we don’t look the same. It’s because mistakes keep getting made, and who is being held accountable?”

More importantly, who has this team been able to lean on for performances that back up the words of wisdom, or inspirational prep talk?

After all, words are better followed up with action.

“We’ve just got to take it one game, one play and one practice at a time. It’s no secret,” said Roberts, who will likely have more responsibility if Jerome Baker, the team’s leading tackler, is sidelined by the knee injury he suffered in last Sunday’s 30-28 loss to the Atlanta Falcons.

“There’s no magical thing that you need to do as a captain or as a teammate. It’s nothing. You just got to come in every day with the work mentality to get it right, and that’s by taking it one practice at a time, taking it one play at time and taking it one game at a time.”

©2021 South Florida Sun-Sentinel. Visit sun-sentinel.com. Distributed by Tribune Content Agency, LLC.

google news
Continue Reading

Trending