Dare to Change Life Coaching & Mentoring

Tag: financial freedom

There Are Two Categories of Women. Which One Do You Put Yourself In?

Do you feel like time flies faster and faster, or it’s just me?

Is it my age or the age we live in? Or both? LOL

I’m spending my last week at a healing facility in the French Alps.
I enjoy taking the time to nourish my body with different thermal baths, thermal mud treatments, and hydro-massages.

And each Sunday, I visited local attractions – castles, beautiful parks, lakes, and small cities.

I meditate a lot here…

And every moment, I feel SO infinitely grateful for the life I have created…my beautiful daughter, loving husband, amazing clients, incredible adventures and travels….
FREEDOM of time and choices.

So, what occurred to me may sound somewhat controversial, but hear me out….

What occurred to me is that there’re two kinds of women in the world:

1. Women who spend their whole lives working to make money.

AND

2. Women who enjoy FREEDOM in their lives because they figured out how to make their money work for them.

Would you agree?

Those women in the first category often make a good living – have high-paying jobs or run profitable businesses – yet they still don’t have the FREEDOM and INDEPENDENCE that they crave so deeply.

While the women in the second category have learned how to think, plan, and act strategically with their money. And voila…they can choose when and how much (or how little) to work, who to spend time with, where to live, how to be….etc

So, which category do you think are in? First, second, or somewhere in between?

The good news is that it’s a simple transformation to get from the first to the second category.

It may not be easy, but it is simple. Unfortunately, we don’t learn this at school.

If you have young kids, they observe your choices and life experiences and unconsciously repeat them, just like you probably got programmed by observing your parents. You don’t need me to tell you how important it is to model “good money habits” for children.

So, if you happen to be in the first category, are you going to wait for the pandemic to be over to start planning your desired financial future? Or for the economic condition to improve, for getting married or for your partner to be more supportive, or making more money at your job or business?

How many more years are you willing to wait before you start creating your Financial Independence so that YOU, too, enjoy more freedom in your life?

Ask yourself these questions.

After all, none of us are getting any younger….

Let me know what you think about my controversial “download.”

To your Health, Wealth, and Freedom!

P.S. Sometimes tough times are what call us to grow. And to step into things we normally wouldn’t be “ready” for.

If you crave more FREEDOM in YOUR life, you may want to connect with me ASAP.

I want to help you identify YOUR fastest path to Financial Independence.

Email to Millen@DareToChangeLife.com with the Subject Line “I want Financial Independence” and we’ll schedule a complimentary call.

September 2, 2020
5 Tips to Overcome Fear of Investing

I was recently asked in my private Wealth Building For Powerful Women group: “How can I overcome the fear of investing?”

And because it’s such a common block for many people, especially after experiencing huge “paper losses” in the recent markets’ swing to bear territory, I feel that this topic deserves a closer look.

By the way, I suggest that you also check out the 3 Common Misconceptions about Investing.

Tip #1: Get Solid Knowledge About Strategic Investing

It’s natural for us to feel fearful about doing something we don’t understand well or don’t have solid knowledge about.

Remember your math or science classes at school? The subjects seemed complicated and even scary sometimes…until you learned and understood them.

Even driving a car at first, when you were just getting started, felt like a complex skill, right? And now you can drive it with your eyes closed… well, almost. LOL

The exact same approach applies to becoming knowledgeable about investing – the more you learn and practice, the more competent, confident, and discerning you become about making financial decisions.

In addition to learning about different investment strategies, different financial instruments available to you, and various ways to manage investment risk, you can also learn how to deal with market cycles, how to plan for retirement, and how to create a solid investment portfolio that will carry you over market downturns and economic recessions.

You can read books (e.g., Tony Robbins: “Money” and “Unshakable”, or Millen Livis: A Shift Toward Abundance: Pathway to Financial Freedom) , read financial publications (e.g., Wall Street Journal) and financial articles on the Internet, listen to financial podcasts (e.g., The Investing for Beginners or The Investor’s Podcast), take online or LIVE investment training (e.g. Grow Wealth with Stock Market Investing and Grow Wealth with Real Estate Investing), watch financially-inclined youtube channels (e.g. MillenLivisChannelWealth)

*When it comes to investment training, it’s very important that you trust and connect with the instructor/guide.

Tip #2: Think LONG Term

Think LONG term – don’t worry about “making it happen” and “getting it right” in a short time. All strategic investors have a long view investment horizon.

Having a longer timeframe helps mitigate risks from cyclical financial markets, but it also gives you time to test your strategies, make adjustments, and decrease pressure to hit “home runs” with each investment.

So, don’t judge your investment portfolio’s performance after just a month… or even a year.

Investment portfolios can sometimes take a decade or two to produce that long-term 9% + returns. Be patient and let your portfolio grow into its full potential.

Tip #3: Start Small

Allow yourself to screw up at the beginning. That’s normal with just about anything, right? That’s how we learn.

So start small, give yourself room to learn through experience. You can even start by using “paper-trading” options that some brokerage companies offer….

Also, decide how much you can stand to lose (it’s called “risk tolerance”). You can use “trailing stops” to control your losses.

What I like about stock investing is that it doesn’t require large sums of money upfront (if you’re planning to invest on your own instead of hiring an investment advisor to manage your money, which usually requires a large minimum – from $250K to $500K).

There are a number of micro-investing services out there on the Internet that can help you get started investing when you don’t have a lot of cash to allocate. Do some research and read users’ reviews before opening an account.

Tip #4: Adjust and Refine

We learn the most from our mistakes. If what you were doing at first isn’t working out – PAUSE. You can always adjust and refine your strategies as you learn and become more experienced.

It’s totally OK to change your strategies if you realize you made a mistake. The worst mistakes are made when we panic.

When you make up an investment portfolio, you want to take into account the amount of money you have to invest, your investment goals and timeframes, and your risk tolerance.

Your investment portfolio needs to have an adequate asset allocation that takes all of these factors into account.

Always think about striking a balance between GROWING your money and PROTECTING it at the same time.

And if your financial situation or needs change, you can always adjust your portfolio’s asset allocation. So, there’s no need to be frightened about making a mistake – you can always course-correct.

Tip #5: Keep a Bigger Perspective

Let’s say you lose money on some of your investments.

First of all, if you do your research and know what you’re doing, you can NEVER lose 100% of your invested money.

Secondly, you’re not going to jump into financial markets with ALL your investable funds, right? And so, since you’re not investing the cash you need to survive tomorrow or next month, it’s OK to allow some “paper losses” while markets go through temporary corrections.

If you don’t panic and don’t sell when everybody panics, your paper losses can recover…

When you’re investing for long-term goals, you don’t need that money for a decade or more. And in the long run, the markets tend to go up.

The Bottom Line

The fear of investing is not easy to overcome. It is especially hard if you lost a lot of money in the past. Nobody likes losing money…even if it’s just temporary.

So, I understand that making that first leap into the markets may feel hard and scary. But just because it feels hard and scary to you right now doesn’t mean that you should avoid investing altogether.

Think about all those times in your life when you felt scared before you learned how to do it well. Biking, swimming, driving, speaking a foreign language(s)… And once you learned the skills, it became natural for you…

And so, use the 5 tips shared in this article, learn about investing, and practice until investing becomes another natural skill for you.

To Your Health, Wealth, and Freedom!

PS: Click below to DOWNLOAD the free Wealth Planner
https://daretochangelife.com/wealth-planner and start taking simple steps on your road to Personal Freedom and Financial Independence.

July 20, 2020
Six Lessons to Boost Peace of Mind and Happiness
Today I want to share with you some insights from my time off the grid.

A few months ago I felt a deep desire to make time for my inner expansion – to focus on refining my awareness, honing my focus and clarifying my vision.

I strongly believe that there are times when we need to slow down to speed up.

So, for my B-day, I chose to go to the Buddhist Meditation Center (to the disappointment of my family members and the curiosity of some friends.)

Spending almost a week at the Buddhist Meditation center reconfirmed my deep conviction that our mind is the control center of our life experiences.

It was my first exposure to the Science of Conciseness according to Buddhism.

While I love many wise sayings attributed to Buddha and have read/heard a few times about Karma, Reincarnation and the Wheel of Life, I haven’t really dived into those concepts that much…until the visit to the meditation center.

Some questions that I couldn’t answer before could be reasonably answered using the concept of Karma (e.g. “How come some young children get cancer?!” or “Can a human being in this life be reborn in a different form in the next life?”)

The Buddhist notion of mind’s delusions like attachments (to our wishes being fulfilled, or to our opinions and beliefs), mistaken aspirations, anger, hatred, jealousy, ignorance (a.k.a. mistakes in perceptions) resonated with me deeply.

“All our problems are caused by our attachments to the uncontrolled desires.”

I love the depth of Buddhists’ appreciation for the “preciousness of human life” and how the loving-kindness, compassion and cherishing others are inherent attributes of Buddhist teachings.

“Every person has the potential to be a Buddha in making.” Yep, that means YOU and I are “Buddha in making.” Very cool, isn’t it?

And the sober reminder of the impermanence of our lives (one time we meditated on death…just to cheer us up LOL) kinda shook me up and made every moment of my life and every person I love and appreciate 100X more precious…

Frankly, I’m still processing many profound concepts (e.g. the idea of emptiness, the Buddhist perception of death, etc.) as I work my way through these teachings.

However, what I want to share with you briefly today is SIX practical applications of the Buddhist teachings.

Please note that these are NOT exact Buddhist lessons but rather my personal inference of the teachings I received.
1. There are no inherently “faulty/broken/evil” people. We all, at some point in time, are controlled by the mind’s delusions (e.g. attachments, anger, ignorance, etc.) So, we must distinguish a person from her/his delusions and refrain from judgments and discrimination.
1. Every human has a vast potential for happiness and success…within her/him. The potentiality of the mind is like seeds of consciousness. That’s why it is SO important to be aware of your thoughts and feelings and be able to intentionally choose what you focus on and how you want to feel.
1. YOU are not your mind and not your body. That’s why YOU can control your mind and your body. Also, it’s important to feel the acceptance of our [physical] death. Nothing is permanent and life is not about building a citadel around you, to protect yourself from suffering….Life is meant to be experienced.
1. You, as a human being, have a powerful ability to engage with your imagination. You can ask questions like “What would need to take place for me to ________?” You can imagine living your desired reality. You can visualize the place/time where your current predicament doesn’t exist… Any end of suffering starts in your imagination. Imagination IS a functioning faculty of your mind.
1. Your gracious and effortless presence in this world can be the greatest contribution to others. Shifting your focus from your challenges and predicaments to other people’s challenges and suffering is a powerful technique to help release your attachments and suffering.
1. The roots of all our problems lie in the uncontrollable, un-peaceful mind. The true, lasting happiness can only be found within a peaceful mind. Only by creating peace within our mind and helping others do the same, we can make the world a better place.
OK, I think you’ve got the gist of these valuable teachings (and this is just scratching the surface) – just enough to remind yourself that YOU have limitless potential and tremendous inner power. You can create anything you set your mind to create (as long as you keep reasonable expectations and are detached from the outcome). And your life, as it is right now, is very rare and precious.

Now…I would LOVE to know what you think about this topic, what resonated with you, what feels foreign to you…

So, go to my private Facebook group “Wealth Building for Powerful women” and share your insights and opinions. I promise – we will NOT judge them!

To Your Peace, Power, and Prosperity!

P.S. Do you think it’s a good idea for you to to start (or continue) planning for your future?

If you answered YES, then I’d like to offer you a GIFT – Wealth Planner – so that you prepare yourself for the next phase in your life and secure your future.

CLICK HERE to download your FREE Wealth Planner

And if belonging to a PRIVATE FREE community of like-minded women sounds good to you as well, join us here => Wealth Building for Powerful women
February 4, 2020
Wealth Creation Starts with YOU.
In the last week post, Benefits of Intentional Living, I promised to tell you how I started living intentionally and briefly shared with you the rough patch I went through a few years ago – the downward spiral that brought me to my knees and…opened my heart.

I never thought that something like that could happen to me.

Using the “societal metrics of a successful life”, I was living an American dream – family, beautiful house in the suburbs of New York, prestigious high-paying job, friends, parties, vacations….

Yet deep down I was not happy – it felt like was dying inside. And there came a time when I could no longer pretend, so…I decided to dare and change my life.

Yeh, I jumped – walked out of my “prestigious comfortable job”, my comfortable marriage, my beautiful and comfortable home, and…re-started my life all over again.

I recall feeling enthusiastic about my future again, especially after graduating from the “prestigious and well known” business school. I SO wanted to create lasting wealth, serve others, travel, and make a difference in the world.

Yet it didn’t happen… for some time.

I got into a free-fall and my “parachute” didn’t open for a while…

The promising business partnership fell apart; my new investment business was cash-poor and I had to let go of my team members; I struggled with paying bills and student loans; had serious health issues; and got depressed.

At that time I didn’t know that the Wealth creation must start with me…

Wealth creation starts with YOU

I was SO focused on “external” achievements that I completely neglected the most important source of success in my life – myself and my well-being.

I felt stuck and unhappy…again.

And what I discovered was that I had to rethink how I perceive happiness.

I realized that I neglected my inner well-being.

I needed to change…again. But this time the change had to be from the inside out.

You must re-train your brain

I needed to re-train my brain.

And the best way to do that is to practice mindfulness.

So, I decided to practice intentional living by introducing a healthy daily routine. I’ve strived to live intentionally every day by being deliberate with my time, focus, and choices.

Let me share with you the daily routine that has helped me turn my life around and create an incredible life:
1. I start my morning by counting at least 5 things I’m grateful for –Gratitude is my anchor state.
2. Then I get up and drink some water (often with a slice of lemon) to get my body hydrated.
3. Next, I get to my meditation space. I meditate anywhere between 30 – 60 minutes (based on my schedule that day). I use different styles of meditation – silent, guided, or mantra. Meditation helps me get into a state of being where I feel more calm, peaceful and intentional with my thoughts and emotions.
4. Next, I head to my yoga room and practice yoga and/or Qigong.
5. During weekends, I like to read books, especially on metaphysics and mindfulness, and journal.
6. Only after these 5-6 steps, I nurture myself with nutritious food – make a green smoothie for breakfast (with kale, celery, cucumber, sunflower sprouts, lemon, banana and green apple).
7. After my nutritious breakfast, I go for a walk in nature.
I begin my morning with this simple routine – BEFORE I even start my to-do list for the day.

Out of all those 7 steps, meditation is one of the essentials. Being in the state of calm and silence, when the chatter/noise of the outer world is neither distracting nor guiding my focus, allows my brain to rest and recover.

Oh, and I also like to set an intention before my meditation… For example, one of my intentions is to feel in love with my life (no matter what challenges I may encounter.)

Sometimes it’s hard to shut down my busy mind or switch attention from physical pain… In these situations, I just notice those thoughts, acknowledge them and gently get back to the flow.

Noticing what’s happening in your mind or body without passing any judgment is often referred to as mindfulness.

You Can Do It, Too

Following a healthy (and supportive) morning routine will change how you feel about your day. It may not be easy, at first. You may forget, or skip some steps; you may choose to do none on some days.

What’s super important is that you don’t beat yourself up. Guilt is one of the most toxic emotions humans experience and I know first-hand how draining this emotion feels.

I invite you to forgive yourself, remind how many benefits you’ll experience from having a healthy daily routine, and simply get yourself back into the flow.

By the way, you don’t have to have all those 7 exact steps – I encourage you to come up with a daily routine that works for you and your life.

So, what daily routine are you going to implement in your life?

What ideas that I shared with you today resonated with you?

Share your intentions and ideas in our private Wealth Building for Powerful Women group.

To your Peace, Power, and Prosperity!

P.S. For my birthday, I chose to go to the meditation retreat hosted by the Buddhist monks. It has been a truly fascinating experience…I’ll share more about it in my next emails or videos.

Have you downloaded yet my Checklist for Living Free? It’s my gift to you and you can Download it HERE. EN-JOY!

Also, my team and I are cooking some VERY COOL experiences for you in the coming months….So, make sure you stay in touch!
January 27, 2020
Your Big Badass Dream Plane & THREE Levers to Upgrade Your Financial Life

What would it take for you to feel wealthy?

How many millions?

Or maybe just having “more than enough”?How many homes/yachts/planes?Or maybe just having more choices?How many children/husbands/lovers? (OK, this topic is for anothertime/place… LOL)Or maybe just having more free time, working less?Obviously, being wealthy means different things to different people…And it’s great to have Audacious BIG Badass Dreams.And my question to you is: “Are you actually ready to bring your currentfinances into harmony with your BIG Badass Dreams?”Because dreaming BIG is great! However, in order to take this BIG BadassDream plane off the ground, you’ve got to get very clear about it (is it REALLYworth the efforts?), then map your way forward and learn to pilot it, so youcreate the momentum.Because if you don’t… well, let’s stay positive here.So, what is your “BIG Badass Dream” plane?What do you REALLY want for yourself and your loved ones?

Can you describe it as if you were living it in the present moment?What do you do, what do you feel and see, where do you live, who are youwith?Make time and space for yourself to “normalize” your Big Badass Dream –make it SO NORMAL that you start embodying this dream!Then you can get to map your way forward.How do you map your way forward?By mapping your money according to your desired level of financial fitnessand using three cash flow levers to accomplish your desired results.Money Mapping is about discerning what’s REALLY important to you in life(and this may change as you go through different phases in life) and thendesigning your lifestyle so that it supports your values and your BIG dream.Money Mapping is Budgeting 2.0, because it’s NOT just about counting everypenny you spend on groceries. That’s tedious and unnecessary for mostpeople.Money Mapping is about you focusing on your BIG Badass Dream, translating itinto numbers, then reverse-engineering it into the money map so that yourlifestyle and choices are coherent with your goals.In my programs, I talk about 4 stages of Financial Fitness:1. Less than enough2. Just enough3. More than enough4. AffluenceYOU DECIDE what financial fitness level is next for you. THAT will determineyour spending patterns, your saving patterns and your investing patterns.That’s what the money mapping is for.

My clients come to me at different levels of financial fitness spectrum and withvery different ambitions. And they ALL evolve to much higher but differentfinancial fitness levels. Because they have different definitions of “wealth.”That’s why I asked you at the beginning “What would it take for you to feelwealthy?” Your answer will determine your specific money map.In other words, your answer to this question (which only YOU know theanswer to), will guide your choices and financial decisions.For example, you may have a BASIC money map (to track your money, youcan use an Excel spreadsheet or an app) that reflects just basic needs(groceries, rent, utilities) and paying off debt. This may support a simplelifestyle, living debt-free, in a rural area, and have less pressure…Then you can create another COMFORTABLE money map that will includesome comfort items like massage, mani & padi, trips, restaurants, privatecoaching, etc.Finally, you can create another AFFLUENT money map that will cover allyour intentions and desires – from millions in the bank, to having a personalchef, jet-setting to French Riviera, and having vacation homes in resort-likelocations.Having these money maps will help you “land” your BIG BADASS DREAMplane with concrete numbers that will back it up, support your desired lifestyle.Finally, the time for the HOW question. What levers do you have to controlyour cash flow and upgrade your financial fitness?I invite you to consider these THREE levers to control your cash flow:1. Income2. Budget (pattern of spending)3. DebtAnd here are THREE ways that you can use to improve your cash flow:1. Identify your current ‘financial leaks” and make necessary adjustments.2. Brainstorm and uncover additional long-term sources of in-coming cash.3. Brainstorm and uncover immediate prospects for incoming cash flow.In summary: You Big Badass Dream can be your reality. Being FinancialIndependent is NOT a pipe dream. You’ve got to get your money map inplace, get strategic about your choices and get this plane onto the runway,ready to take off.

With love, health and wealth

P.S. If you feel sick and tired of being restricted by money, feeling worryingabout your retirement, anxious about investing – let’s connect! Here’s the linkto schedule a complimentary Money Breakthrough session with Millen.What do you have to lose? Fear, money anxiety, indecisiveness. What youcan gain? Clarity, direction, specific strategies and concrete steps to moveforward.

April 27, 2019
7 Steps to Regain Control Over Your Money: Step #7 – Be strategic with your money

You work hard for your money – whether you are an employee or a business owner – you want to make more money. Right?

Well, how about managing your money strategically so that your money works for you and your family?!

That’s what Step 7 is about – BEING STRATEGIC with your money!

Here are some aspects of being strategic:

1. Diversify your investments to maximize your results.

If you want to be a good investor you’ve got to know how to manage risk because ANY investment entails risk.

And diversification is one of the most important risk strategies.

When it comes to managing risk to maximize your return, it pays to diversify.

First, you can diversify among the four major asset classes: cash, stocks, bonds and real estate.

Once you decide on the amounts to allocate to these four main investment classes, it is important to diversify within each asset.

This means buying multiple stocks within a variety of industries, holding bonds of varying maturities, having different real estate properties in different locations.

In other words, don’t put all your golden eggs in one basket.

Also, don’t make the mistake of putting most or all of your money in “safe” investments like savings accounts, CDs and money market funds.

Over the long term, inflation and taxes will “eat up” the purchasing power of your money in these “safe investments”.

All investments involve some trade-off between risk and return.

Diversification reduces unnecessary risk by spreading your money among a variety of investments.

Besides diversification, the single most effective investment strategy is to invest continuously over time, with a long-term perspective.

2. Grow your money by taking advantage Of tax-deferred Investments.

If your employer has a tax-deferred investment plan like a 401(k) or 403(b), use it!

Often, employers will match your investment.

And even if they don’t, no taxes are due on your contributions or earnings until you retire and begin withdrawing the funds.

Tax-deferred savings mean that your investments can grow much faster than they would otherwise.

The same logic applies to IRAs, although the maximum amount you can invest annually in an IRA is substantially less than what you can put in a 401(k) or 403(b).

3. Use the protection provided by insurance

It’s wise to protect yourself, your family and your money by having an adequate insurance coverage.

A major lawsuit, unexpected illness or accident can be financially devastating if you lack proper insurance.

The key to insurance is to cover only financial losses so large that you could not cope with them and remain financially fit.

If someone is dependent on your income, you must have adequate life insurance.

Long-term disability coverage is important as long as you need employment income.

Also, be sure to carry adequate liability coverage on your home and auto policies.

To save on annual premiums, you may choose to raise your insurance deductible.

And whenever you purchase insurance – life, home, disability, or auto – be sure to shop around, and buy only from a reputable firm that has a history of being solvent and paying insurance claims.

4. Plan your financial legacy

You want to have a will to ensure that your funds, property and personal items will be distributed according to your wishes.

A will is a legal document that ensures that your assets will be given to family members or other beneficiaries you choose.

Having a will is especially important if you have young children because it gives you the opportunity to assign a guardian for them in the event of your death.

Although wills are simple to create, about half of all Americans die without a will.

With no will to indicate your wishes, the court steps in and distributes your funds and property according to the laws of your state.

To prepare a will, take an inventory of your assets, outline your objectives and determine to which friends and family you wish to pass your possessions to.

Then, when drafting a will, be sure to include a name of a guardian for your children, name of an executor, and an alternate beneficiary.

Once your will is drafted, you won’t have to think about it again unless your wishes or your financial situation change substantially.

And that’s a wrap for the mini-class series “7 Steps to Regain Control Over Your Money.”

Share your insights and questions in the comments!

To your Health, Wealth and Freedom

P.S. Join me for a game-changing training – Financial Freedom Game Plan Masterclass. No credit card required! Reserve your spot HERE:

http://daretochangelife.com/financial-freedom-gameplan/

April 13, 2019