Pearls of Wisdom

Q2 | July 2023

stack of old newspapers, pile of old newspapers

Topic: Human Interest

Julie Crothers MBA, CIM, CFP

July 27, 2023

Image used with permission: iStock/hanohiki


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Pearls of Wisdom

Q2 | July 2023

Reading is one of the principal occupations in our profession. As we digest a wide range of material, interesting ideas and surprising facts – some serious and some light-hearted – rise to the surface. We attempt to share a few of those with you in this issue of Nexus Notes.

Atomic Habits

At Nexus we often discuss the value of compounding with regards to investments.  In his book “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones”, James Clear focuses on the impact of consistent and deliberate action. Often when we want to make a significant positive change we think we need to take massive action. However, small daily improvements can make a significant difference.

As seen in the chart above, if you make a 1% improvement in a particular aspect of your life each day for one year, you’ll finish that year 37x better.(1) These “baby steps” that are often not even noticeable can take you a great distance. On the negative side, if you let yourself slide 1% each day, you end up nearly at zero at the end of the year. Small wins or minor setbacks have the power to change your life’s direction. Any small improvements in your daily choices have the power to compound exponentially to your benefit.

AI-Generated Wisdom

With AI dominating so much of the news, I thought it would be interesting to ask ChatGPT what it considers to be the best “pearls of wisdom” in books or articles. Here are the results:

    1. “The only thing we have to fear is fear itself.” – Franklin D. Roosevelt in his inaugural address (March 4, 1933).
    2. “The only limit to our realization of tomorrow will be our doubts of today.” – Franklin D. Roosevelt. Source: Book – “The Man in the Arena: Vanguard of American Liberalism” by Bernard Bellush.
    3. “The only way to deal with fear is to face it.” – “The Alchemist” by Paulo Coelho.
    4. “It is our choices, Harry, that show what we truly are, far more than our abilities.” – Albus Dumbledore in “Harry Potter and the Chamber of Secrets.” by J.K. Rowling.
    5. “The greatest glory in living lies not in never falling, but in rising every time we fall.” – Nelson Mandela’s Inaugural Address (May 10, 1994).
    6. “Happiness can be found even in the darkest of times if one only remembers to turn on the light.” – Albus Dumbledore in “Harry Potter and the Prisoner of Azkaban” by J.K. Rowling.
    7. “The only thing standing between you and your goal is the story you keep telling yourself as to why you can’t achieve it.” – “Way of the Wolf: Straight Line Selling: Master the Art of Persuasion, Influence, and Success” by Jordan Belfort.
    8. “Do not go where the path may lead, go instead where there is no path and leave a trail.” – “Self-Reliance” by Ralph Waldo Emerson.
    9. “The only true wisdom is in knowing you know nothing.” – Socrates. Source: Article – Socratic paradox.
    10. “In three words, I can sum up everything I’ve learned about life: it goes on.” “The Pasture” by Robert Frost.

 

(1) Source: JamesClear.com.

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