5 Ways to Turn Setbacks Into Greenbacks
The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
By Willie Jolley
NEW YORK (TheStreet) -- Many Americans are living in poverty according to a new census data report released this week. And many have the capacity to turn their situation around but are literally depressed and unable to see past the gloom and doom. The nation's poverty rate rose to 15.1% in 2010, its highest level since 1993. About 46.2 million people are considered in need. Tough times are still having an impact on people everywhere, but the focus now needs to shift to changing thinking so they can change their fortunes. It is time to make a come back and to focus on turning setbacks into greenbacks.
|Many have the capacity to turn their situation around but are literally depressed and unable to see past the gloom and doom.|
Stop Commiserating!People who sit around and commiserate are the people who would rather complain about problems than do anything to fix them. Make up your mind that you will not willingly participate. You have a choice: sit around, talk about and keep repeating all the bad news, or go about making a difference and being a light in a dark world. Make a point that you will not sign up, line up or whine up about your finances. Standup and fight for your dreams.
Don't Let Your Pride Poison Your ProsperityStop trying to put up a facade of success and get real. Any work that is moral and legal is honorable. To turn setbacks into greenbacks will take some new thinking and new actions. If you keep doing what you have been doing, you'll keep getting what you have been getting. Often, what stops people from success is not their ability but their pride.
Stop Waiting For Your Ship to Come InFinancial success is a choice that you must make happen, not a chance that you sit around and wait for. The best way to grow your future is to first grow yourself. Success is not a thing to wait for; it is a thing to be achieved. Make a commitment to take action today on your dreams and goals.
Don't Just Look For A Job; Make A Job!Financial success is linked to thought, so get creative. What need do people have that you can fill? How can you use your expertise and get paid for it? I recommend that you start thinking like the CEO of Y.O.U., Inc.
Stretch Your Financial GoalsStretch your financial goals way beyond what you think you are capable of earning. This puts you in the right frame of mind to make more money. One of the ways to do this is by being open to ideas from others and making a commitment to build a network of people who are big thinkers. It is your network that often determines your net worth! Who are you hanging out with? Who are you talking to and sharing your ideas with? Make a commitment to hang with people who will inspire ideas and encourage your entrepreneurial spirit, because these people will have a major impact on helping you turn setbacks into greenbacks.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV