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J. Michael Dennis ll.l., ll.m. Live

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J. Michael Dennis ll.l., ll.m.  Live

Tag Archives: Personal Finance

You Need a Fresh start! How to Embrace New Beginnings at Any Age

19 Friday Jan 2024

Posted by JMD Live Online Business Consulting in Starting Over

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Tags

budgeting, finance, financial-planning, mental-health, Personal Finance

January is nearly over, which probably means your New Year’s resolutions are forgotten, or will be soon. Do you need to reset? Are you looking for a big change? Are you looking for a fresh start? We can help! ~ J. Michael Dennis

Having to considering a career change, a business reorganization can feel daunting. It is enough to send you into an existential crisis. But you need to remember that you are never starting from scratch. That is true for career shifts and massive changes to your personal life and even your business venture.

You have been through a lot in your lifetime. You can lean on your years of experience for self-reinvention. And you do not have to seek out a fresh beginning all on your own. It is never too late for new beginnings and here, at JMD Live Online Consulting, we want to help you get started.

Here are our tips on how to start over

With some planning and self-awareness, you absolutely can make significant changes in your life. There is no limit to how much you can grow, learn, and become a better person, start a business or to grow and improve your business performance. Any decade of your life provides an opportunity for self-improvement and growth.

Starting over, rebooting, or reengineering your life will look different, depending on your individual situation. Are you embarking on a new career path, starting a new business, or moving to a new continent? Finding your purpose in life, rebranding yourself or your business is not always easy, and there is no one-size-fits-all approach to starting over.

Here are some general guidelines to consider

You might not have expected to be here, where you are and now. That means you are probably experiencing some unexpected loss. This could be the loss of a loved one, a relationship, or expectancies your plans for the future. Any type of grief is normal, so give yourself the time to feel it. Stop thoughts from swirling in your head by putting them on a page, whether you use a computer or your favorite leather-bound notebook. Through writing, you can gain self-knowledge and a valuable means to process your thoughts.

Avoid falling fall into an endless loop of negative thoughts. Take deep breaths. Give yourself a much-needed moment of reprieve. Do something. Anything! Inertia only sets in when you are feeling down. The smallest activities can boost your mood. Staying active and busy will give you the energy you need to plan for the future.

Remember, you are not alone

Your social health is important to your well-being, and having good friends to support this transition is vital. If you do not already have a trustworthy circle, find new friends through volunteering or attending events in your community. When embarking on a new chapter of your life, take the time to nurture your social connections and maintain a support network. Do not let work take over.

Exercise

Do not forget to keep exercising or start a workout routine. Weightlifting, walking, or other low-impact activities boost your energy and keep your mood up. Taking care of your physical well-being is vital to your overall health.

Get rid of the useless

You have probably accumulated loads of stuff over the years. Get the weight of possessions off your shoulders by getting rid of any items no longer in use. Stay away from the toxic people in your life. Clear your mind of all your negative thoughts and stop all procrastination. Make room for what is to come.

Review your finances

Your financial wellness matters, and you cannot reach a new destination without a road map. Be honest about your financial situation. While reengineering your life or your business, you may need to dive into your finances. Consider taking the following steps:

  • Create a living expenses budget;
  • Factor in how a big change will affect your retirement plan;
  • Read the fine print on your insurance policies, and see how your new situation will affect your healthcare;
  • Set financial goals to save more money.

Plan your final destination and new future

The most important step of your transition is doing some life and/or business planning to better understand your new future. Think about where you are and where you would like to be. Identify the necessary steps to build yourself a better life. Developing healthy habits, like managing new job anxiety with more exercise or finding time to hang out with your family and unwind in your free time, will help you stay on your planned course.

Next, identify your passions, strengths, and weaknesses and how they might fit in a new career or version of yourself. Befriend people doing what you want to do and look for job or business opportunities that match your skills and desired lifestyle.

If you are in your 50s, 60s or even older, forget your age. Age is just a number. You are never too old for a new start. Let go of the fear and anxiety about where you should be and start building the life you want to live. Bask in the challenges ahead because this is what makes life thrilling.

These tips are a lot to chew on. It is okay to ask for help. Seeing yourself through others’ eyes will help you develop greater self-awareness to find the answers you are looking for and take action to meet your goals.

And do not forget, we are here to help.

“I Have No Money”

Much of the above advice still applies if you have little or no money.

The downside is that you might have less time to lose before springing into action. Here are some additional tips if you are in a financially difficult situation and cannot make a quick switch.

If you are still working, keep your job.

If you are not working, find yourself a job, any job!

A paying job that you hate will still give you financial stability. This is what is more important right now. Focus on creating an emergency fund and rainy-day savings while you plot your next move.

Let go of the negative self-talk. If you are without a job, it is tempting to compare yourself to other people your age. Let go of the negative self-talk. Comparison will only lead to a cognitive bias that harms your well-being. Things might be difficult right now, but you still have something few people experience: the chance to reinvent yourself. You have nothing to be ashamed of.

Find your purpose and passion. Reengineer yourself. Think back on the things that felt most meaningful to you. An important step in figuring out how to turn your life around is imagining the person you want to be. Figuring how can you work these things into the next phase of your life and, how can you do that at the lowest cost possible.

Create yourself a “Vision Board” that will help you stay focused on your goals. Make sure all your goal-setting points toward the ultimate one: doing what you love; ending where you want to be.

A Final Word

Maybe are you experiencing a midlife crisis that is putting you in a tailspin, so you want a fresh start. Maybe difficult circumstances put you in this position and you have no other choice. Either way, there are some advantages and disadvantages to seeking out a new beginning.

Seeking out a new beginning allows you to make better choices for your emotional and mental health. You can regain a sense of control over your destiny using your life experiences to your advantage.

On the other hand, especially if you are in a difficult financial situation, seeking out a new beginning may be extremely difficult.

You may have to work harder to keep yourself financially stable and you are running the risk to fall into a poor mental and physical health state. Your stress levels might be elevated due to the change, which can lead to heart disease, high blood pressure, depression, and more.

Whatever your situation or the circumstances, before initiating a starting over, ask yourself:

  • What do I really need to be happy?
  • What is it that I really do not like doing?
  • What is it that I really do not like in my actual situation?
  • What makes me feel free?
  • What are my strengths?
  • What am I passionate about?
  • Am I willing to commit to a new life?
  • How do I imagine my life in a few years?

Answering these questions will clarify your next steps. Knowing what you are passionate about and what industries align with your personal values will help you decide where you should be going or slowly kill yourself doing nothing to change your life.Starting over is an incredibly daunting phase of your life. It is easy to lose faith in yourself when everything is uncertain.

You know what you want! You are no longer comfortable being mediocre! Own your past and create your future.

You need help! Ask for it; most people want to see you succeed, even if it does not always feel like it. There is no shame in asking for help.

Above everything else, remember: “It is never too late to start over.” Besides, no one really starts over; you are forging yourself a new path from where you are today, a path that will allow you, your business to thrive.

Embrace change!

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

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Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

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Making Money

19 Wednesday Jun 2013

Posted by JMD Live Online Business Consulting in Général / General

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Tags

Money, Personal Finance, Saving

making-money

The one million dollars question

Why is it that the only thing people are interested in today is earning more money?

Because people have to plan for their future, the future of their children,  including sending them to college, planning for their retirement, purchasing a home, purchasing  a car and while doing it, being able to support their entire family and themselves with whatever they have left after having paid their taxes. Not to mention, the security that having some money saved provides should a disaster occur.

That was easy!

JMD

 jmdlive@lefuturistedailynews.com

 

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