Why Comparing Yourself to Others Can Ruin You as a Leader | Matthew Littlemore

 

The old adage that comparison is the death of joy exists for a reason. Both Mark Twain and Theodore Roosevelt were right when they cautioned against this way of thinking. Comparing oneself to another can have multiple negative consequences, especially if the other person is in a leadership position. Presenting confidence is a crucial factor when interacting with others, and making comparisons can undermine anyone’s performance in that regard. Leadership takes a particular skill-set that requires communication. Working well with others can stimulate the brain in multiple directions. Comparing ideas and comparing people are two very different perspectives when taking the next step forward.

What Is A Leadership Role?

Leaders exist in a variety of roles. Being the leader of a family, for instance, may have different duties than leading a company, but the expectations are relatively the same. A leader guides one or more people through an obstacle safely and efficiently. One trait many successful leaders have is the ability to think independently. By trusting one’s gut, a leader can follow through despite what anyone else has previously accomplished. Blazing one’s own trail is a way of learning new techniques while getting the job done. This cannot happen if a leader compares themself to others.

The False Comparison Trap

How others present themselves to the outside world may not be the same as what’s happening behind closed doors. Many people have social media accounts where they can scroll through pages of photos from friends and colleagues. These photos typically consist of birthdays, holidays, exotic vacations, or beautiful houses. It can be easy to compare one’s life to what is presented on the screen, even if it’s inaccurate. This can also occur when somebody of a much younger age compares their successes to somebody who has retired. No two people have precisely the same circumstance, and because of this, comparisons can misrepresent somebody’s life or lifestyle.

Leadership Takes Confidence

Making comparisons can reflect poorly on one’s self-esteem. When constantly comparing goals, lifestyles, and accomplishments, others may sense insecurity. How a leader views others can say more about them than the person they are judging.

Confidence usually stems from experience. While not every leader will have experience in the same quest they’re taking on, they most likely will have experience in handling an uncomfortable situation. By staying calm and rationally breaking a problem into manageable pieces, teamwork can solve most issues.

This article was originally published at https://matthewlittlemore.com/

Finance Tips for Early Retirement | Matthew Littlemore

 

Since the Great Recession, an increasing number of people have been looking into the concept of early retirement. Less than one percent do so before the age of 50, however, and the average retirement age continues to fall between 62 and 65. Retiring early requires some serious financial planning, and here are some tips that can help make it happen.

Start Early

Those who are interested in retiring early will want to make sure that they start the process early. Starting early provides more time for the power of compounding interest to work its magic. Those who have 20 or 30 years until retirement will see their money turn over several times. On the other hand, those who wait until a decade before they intend to retire might only see their initial investments double once or twice.

Live Frugally

Common sense dictates that spending everything that comes in will not lead to retirement riches. This means that those who want to retire early will want to cut expenses as much as they reasonably can. Every dollar that’s not spent is a dollar that can go into a retirement account.

Invest In Retirement Accounts

Many early retirees are able to amass a large sum of money because they leverage their retirement accounts. Many employers will match employee contributions. Additionally, it’s possible to put off some of the taxes that would otherwise erode a retirement nest egg’s value using tax-advantaged retirement accounts. This defers tax payments until a future time and rate.

Pay Yourself First

Most people pay their bills and then save and invest what’s leftover. These people will find that there’s usually little leftover. Those who retire early follow the advice to pay themselves first, within reason. They save and invest before paying other bills, and if there’s a shortfall, they find a way to fund it creatively.

Look At Side Hustles

Many jobs pay the bare minimum that people need to exist. This can make it hard to save for early retirement. Finding a side hustle or a second job will go toward retirement savings. With the advent of technology, picking up a side hustle has never been easier.

Early retirement is a goal many people have. However, relatively few are able to achieve it. Those who put these recommendations into action are more likely to retire early with a comfortable nest egg.

This article was originally published at https://matthewlittlemore.net/