The Power of Philanthropy

Written by Barbara Huson

Let’s talk about philanthropy. This is where the real power and true joy resides.

I first realized this when I interviewed smart women for my first book, Prince Charming Isn’t Coming: How Women Get Smart About Money. I thought the whole purpose of taking the financial reins was to have more money in the bank.

But these women were telling me there’s more. Knowing how to invest wisely is merely the first part of taking fiscal responsibility. The other part, equally important, is recognizing you have the power to effect change.

I’m convinced this as an inevitable, evolutionary process. Once a woman becomes financially secure, there’s a natural progression from needing to get a grip on her money to wanting to extend her reach in the world.

As we stop waiting to be saved, we start wanting to serve. As we figure out how to invest for the highest returns, we start wondering where we can invest to achieve the most impact.

Yet philanthropy is usually the least thought out, most disorganized, part of our financial activities. We give more thought to buying a pair of shoes than which causes we donate to.

How Strategic Are You?

Written by Barbara Huson

When I wrote Secrets of Six-figure Women, I learned how important Strategic Thinking was to their success. Yet it’s not something many women are inclined to engage in. I certainly didn’t.

Strategic thinking means keeping one eye on your higher purpose without taking the other off the bottom line.

Men seem much savvier at strategic thinking. Women, in their eagerness to give back to their community or give birth to their dreams, often neglect this critical step.

To think strategically, you must constantly link your Big Vision to the costs of doing business, connect your mission statement to the profit/loss statement.

How Much Risk Can You Tolerate?

Written by Barbara Huson

Risk tolerance. You’ve probably heard those words bandied about when talk turns to investing. But do you know what they mean?

Risk tolerance is generally defined as the ability to stomach large swings in the value of your investment portfolio. Because the market, by nature, is very volatile, understanding your risk tolerance is vital for making prudent decisions.

There are 3 factors to help you figure it out.

The Secret to Success in Only Five Words

Written by Barbara Huson

One day, I was glancing at the Wall Street Journal, when 5 words grabbed my attention. “The survival of the focused.”

I forget what the article was about. But I knew those five words carried a powerful message. A message High Earners live by. But one Underearners have failed to grasp.

Without focus, it’s easy to get sidetracked by multiple distractions fighting for your attention. But with focus, conflicting objectives cease to control you, making it easier (and less stressful) to take decisive action without second guessing.

What’s the trick to getting focused? Getting crystal clear on your priorities, what’s really important to you. All else goes on the back burner.

How the Wealthy Think

Written by Barbara Huson

F. Scott Fitzgerald once declared: “The rich are different than you and me.” To which Ernest Hemingway responded: “Yes. They have more money.”

I’d take it a step further: “But why do the rich have more money?” And my answer would be: “Because the rich think differently.”

So how do the wealthy think? The other day, I made a list of things I consistently hear successful women (and men) say. To be clear, I’m not talking about highly paid celebrities that go bankrupt, but those who sustain their wealth over a long period.

Men vs Women

Written by Barbara Huson

Note to the financial industry: women are not men. Even though advisors are tripping over each other trying to woo women’s business, they are talking to us just like they do men. Big mistake.

As Einstein once declared, “If you ask a fish to climb a tree, she’ll always feel stupid.” Same is true with money. If you try to approach finances like a man, you’ll always feel like a fish out of water.

True, money knows no gender. But women think and communicate very differently than men. Apparently, the financial world hasn’t gotten the memo.

Let me explain 3 important differences between the sexes.

It’s Time to Toughen Up!

Written by Barbara Huson

Want to know the big secret to financial success? I got it straight from the mouths of women who make six and seven figures.

If you want to play a bigger game, you’ve got to toughen up!

Toughening up means disconnecting from your Inner Pleaser and growing thicker skin.

By nature, we women want everyone to be happy with us. Successful women are no different. Almost all I interviewed confessed to a “little girl inside me who wants to be liked.”

However, success requires us to make difficult, even painful, decisions that often have negative consequences for other people.

In fact, virtually all the women I interviewed told me that their biggest regret was not making tough decisions sooner.

Receiving: A Requirement for Success

Written by Barbara Huson

There is a direct correlation between your level of success and your ability to receive.

Receiving is to our Soul what eating is to our bodies—a source of strength, nourishment, and growth. To gain the benefits from food, you must chew, swallow, digest.

So, too, there are three steps to receiving: Acknowledge, Appreciate, and Assimilate. When you don’t fully engage in each of the three steps, you starve your Soul and your finances can suffer.

Admittedly, receiving can be tricky. Many gifts come camouflaged.

Therefore to receive fully, you must suspend judgment. Nothing that happens is ‘good’ or ‘bad, ’right’ or ‘wrong,’ ‘negative’ or ‘positive.’

Finding Your Purpose (Exercise Included)

Written by Barbara Huson

In my interviews with highly successful woman—women making high six- and seven-figures–I was struck by how they all seemed possessed by an almost divine sense of purpose.

I was reminded of a quote from Joan of Arc: “I am not afraid. I was born to do this.”

That’s how a Higher Purpose feels. You must do this, no matter what happens, no matter how frightened you are, no matter how impossible it seems.

Purposes can range from the blatantly ambitious (create world peace) to the seemingly trivial (lead a simple life).

STOP What You’re Doing…NOW!!!

Written by Barbara Huson

I once read a Wall Street Journal interview with George Schultz, former Secretary of State. He recalled running into Steve Job’s wife at a party.

When he asked where her husband was, she responded: “Oh, Steve’s taking six months off to think.”

Taking time off has long been respected by creative geniuses, primitive cultures and Eastern religions.

But few in our society teach, or even encourage, this practice any more. To many, down-time is a dirty word. And I know why.

Without endless activity, we’re left with empty space. And empty space gives rise to painful feelings.

Blog

The Power of Philanthropy

How Strategic Are You?

How Much Risk Can You Tolerate?

The Secret to Success in Only Five Words

How the Wealthy Think

Men vs Women

It’s Time to Toughen Up!

If you want to play a bigger game, you’ve got to toughen up!

Receiving: A Requirement for Success

Finding Your Purpose (Exercise Included)

STOP What You’re Doing…NOW!!!

Meet Barbara Huson

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