My Annuity Adventure – Self Worth Equals Net Worth VIII (Part 2)
Cashing out future settlement payments is an opportunity to consider how your values and your self worth affect your life and your bank account. I think you can look at it as a chance to evaluate your strategy of money management, how your feelings determine the incoming and outgoing flow of money in your life and what attitudes guide your spending and investing choices.
This will be especially important once you receive your large lump sum from the structured settlement factoring transaction.
Sudden wealth involves strong emotion, values, and personal psychology. How you cope with fortune depends on who you are. It’s not uncommon for a person who strikes it rich to feel guilt or fear. And, more often than not, the wealth is squandered quickly. According to The Bogleheads’ Guide to Investing
Most financial practitioners agree that well over 50 percent [of windfalls] are lost in a relatively short period of time. NBC News reported that more than 70 percent of lottery winners exhaust their fortunes within three years.
In our modern culture a person’s self-worth, is measured by earnings power, accumulated savings, and personal net worth. We measure if we are a valuable person, by comparing what we earn and what we have.
In their book Inner Security and Infinite Wealth: Merging Self Worth and Net Worth, Stuart Zimmermand and Jared Rosen suggest, setting aside traditional, restrictive concepts of wealth in order to forge a sense of well-being beyond material success…ultimately leading to a more fulfilling relationship to money. Personal and financial security springs from a source greater than material wealth. True security begins and ends with INNER SECURITY.
When you fully respect your value, your self-confidence automatically gets pumped up and you feel worthy to receive success. Money doesn’t make our dreams come true, remembering and believing we have value does! Be Worthy
“When your self-worth goes up, your net worth goes up with it.”
Mark Victor Hansen
motivational speaker author. best known as the founder and co-creator of the “Chicken Soup for the Soul” book series.
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