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January 26th, 2015 by Ron Nakamoto

Habits and Beyond

“Discipline is the bridge between goals and accomplishment” – Jim Rohn

The article below by Sam Thomas Davies explores the link between discipline and habits. Empowered Wealth emphasizes deliberate habit formation through daily routines to build The Empowered Wealth Mindset. It has been my experience that discipline is a necessary element in maintaining what has become for me a daily "practice" of Empowered Wealth.

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Habits Aren’t Enough. You Need This As Well.
Jim Rohn once said, “Motivation is what gets you started. Habit is what keeps you going”.

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An evolution in our thinking about planning has taken place over the past several years. Because Empowered Wealth emerged from Lee Brower's estate planning practice, much of the original "Empowered Quadrant Bank" that was described in the book "The Brower Quadrant" was focused on the legal structure of a sophisticated estate plan. Lee would often talk about the Empowered Quadrant Bank or Q-Bank or Family Bank as a "repository" for the deposit and withdrawal of family assets. Because of legal constraints on the use of the word "bank" in describing this structure, the word "Treasury" was eventually substituted. A "Treasury", in our way of thinking, suggests more of the protection and stewarding of a family's "Treasure". When talking about the "Treasury", Lee often mentions a quote from the Bible "…for where your treasure is, your heart will be there also".

As stories, Narratives, and Narrative Wisdom began to take on greater emphasis our work, our process gradually shifted from an emphasis on legal structure to a broader focus on an ongoing process that includes planning, structure, tools to "capture" and "capitalize" assets (such as the TimeMap and Wisdom Narrative), and tools to build and maintain positive routines, habits, and eventually a family or organizational culture. The philosophical underpinnings guiding this ongoing process has been what we now call The Empowered Wealth Mindset. This "mindset" is based upon Gratitude, True Wealth, Family Leadership, Living Legacy, and Congruent Leverage.

The process of planning and the process of attaining an Empowered Wealth Mindset are really never "done". Additionally, these are activities that are taking place in a volatile, uncertain, complex, and ambiguous world where how to think about problems is often difficult and unknown. This is why we've shifted from thinking in terms of a "Powerful PLANNING Process" to more of an ongoing "DESIGN" process, building on the wisdom of the past while looking towards creating a bigger future.

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The Relationship Between Design and Planning
“In general, planning is problem solving, while design is problem setting.”

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The quote above simply and elegantly says something about a worldview – a "mindset" in Empowered Wealth terms – that we share with people like Barbara Beskind and firms like IDEO. An evolutionary shift that has occurred at Empowered Wealth over the past few decades is that we view ourselves as wealth designers and coaches rather than as financial planners.

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At 90, She’s Designing Tech For Aging Boomers
Barbara Beskind stands out in youth-obsessed Silicon Valley. She inspires designers at the IDEO firm to think about the needs of older generations: What if your glasses could help you remember people?

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January 16th, 2015 by Ron Nakamoto

Book Review: "The Icarus Deception" by Seth Godin

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The Icarus Deception
Podcast featuring Lee Brower and Ron Nakamoto reviewing the book “The Icarus Deception” by Seth Godin.