NARA'S NOTEPAD: February 2025

Friday, February 28, 2025

NARA'S NOTEPAD

VOLUME 22

MARCH 2025

NUMBER 3

NARA'S NOTEPAD

IS SUPPORTED BY READERS LIKE YOU

BAD THINGS HAPPEN TO EVERYONE THAT WE CAN’T CHANGE

HOW TO CREATE WEALTH?

Creating wealth involves a combination of financial discipline, strategic planning and taking calculated risks. Here are some key steps.

1. Set Clear Financial Goals: Define your short-term and long-term financial objectives. This could include saving for a house, retirement, education etc.

2. Budgeting and Saving: Create a budget to track your income and expenses. Save regularly and consistently, aiming to set aside a portion of your income each month.

3. Invest Wisely: Understand different investment options such as stocks, bonds, real estate, and mutual funds. Diversify your investments to manage risk and seek professional advice if needed.

4. Continuous Learning: Stay updated with financial news and trends. Educate yourself about personal finance, investment strategies, and wealth management.

5. Entrepreneurship: Consider starting a business or investing in entrepreneurial ventures if you have the skills and resources. This can offer significant wealth-building opportunities.

6. Manage Debt: Minimize high-interest debt and prioritize paying it off. Good debt management can free up resources for investing and saving.

7. Network and Seek Opportunities: Build relationships with knowledgeable individuals in finance and business. Stay open to new opportunities that align with your financial goals.

8. Long-Term Vision: Wealth-building is often a gradual process requiring patience and perseverance. Maintain a long-term perspective and adjust your strategies as needed.

9. Take Advantage of Tax Benefits: Understand and utilize tax advantaged accounts to minimize tax liabilities and boost savings.

10. Asset Allocation: Develop a well-balanced asset allocation strategy based on your risk tolerance, financial goals, and time horizon. Allocate your investments across different asset classes to manage risk and maximize returns.

11. Reinvest and Compound Returns: Reinvesting dividends are normal, and it’s essential to stay disciplined during periods of volatility. Avoid making emotional investment decisions and focus on your long-term financial plan.

12. Stay Disciplined During Market Volatility: Market fluctuations are normal, and it’s essential to stay disciplined during periods of volatility. Avoid making emotional investment decisions and focus on your long-term financial plan.

13. Monitor and Adjust: Regularly review your financial plan, investment portfolio, and overall progress towards your goals. Make necessary adjustments based on changing circumstances, market conditions, and personal priorities.

14. Protect Your Wealth: Consider insurance policies such as life insurance, health insurance, and property insurance to protect your assets and mitigate financial risks.

15. Generosity and Philanthropy: Giving back to society through charitable donations and philanthropic activities can be personally fulfilling and contribute to a legacy of positive impact.

IMPORTANCE OF OCEANS TO HUMAN BEINGS

1. Climate regulation: Oceans absorb and store carbon dioxide, regulate global temperature and produce oxygen that is essential for life on Earth.

2. Food source: Oceans provide a significant source of protein for billions of people worldwide, and they are responsible for more than 50% of the oxygen we breathe.

3. Economic value: Shipping, leisure activities, tourism, and energy production are some of the major economic benefits provided by oceans.

4. Biodiversity: Oceans are home to a tremendous variety of species, with many of them yet to be discovered and studied.

5. Natural disaster mitigation: Coastal regions, particularly those with mangrove swamps and coral reefs, are protected from the impacts of natural disasters such as floods, cyclones and storm surges.

Thus the oceans play a vital role in sustaining human life and the health of the planet.

THE FAMINES AROUND THE WORLD

Famines have tragically affected various parts of the world throughout history, often resulting from a complex interplay of factors. Some of the notable famines are described below.

1. Irish Potato Famine (1845-1852): This famine caused by a potato blight that destroyed Ireland’s main food source, exacerbated by British policies and inadequate relief efforts. It led to the death of about one million people and the emigration of another million.

2. Bengal Famine of 1943: During World War II, Bengal, then under British rule, faced a devastating famine due to a combination of factors like cyclones, a Japanese blockade, and policies that prioritized the war effort over food distribution. It resulted in the death of an estimated 2 to 3 million people.

3. Ethiopian Famine (1983-1985): Widespread drought, coupled with civil conflicts and political instability, led to a severe famine in Ethiopia. Images of starvation and suffering brought global attention, prompting humanitarian responses like the Live Aid Concerts.

4. North Korean Famine (1990s): A combination of economic mismanagement, natural disasters, and the collapse of Soviet support led to a prolonged famine in North Korea during the 1990s. Estimates of the death toll vary widely, but it is believed to have caused hundreds of thousands of deaths.

5. Somali Famine (2011): Drought, conflict, and limited humanitarian access contributed to a famine in Somalia in 2011. Tens of thousands of people died and millions were displaced or in need of humanitarian assistance.

These famines underscore the importance of addressing underlying issues such as food security, governance, conflict resolution, and disaster preparedness to prevent future catastrophes. International cooperation, effective policies, and timely humanitarian response are crucial in mitigating the impacts of famines and ensuring food security for vulnerable populations.

HOW TO BREAK A HABIT?

Make up your mind to do things differently. Make the decisions to turn this thing around. You have all the power you need, and you can make this work for you.
Decide to only work on one habit at a time. That focuses your mind, and your will to succeed.
Design a plan that is attractive and rewarding. If the pain exceeds the gain then you may not persevere. There must be something that’s enticing to make it seem worthwhile.
Nuke your negative thinking. You know that things will be tough and you’ll be tempted to give up – but plan in advance so you can push through trying times. For example, imagine how you’ll be feel when you are living differently, and you’ve broken with the habit, and are basking in success.
Know the worst times of day, and the times you struggle most. Then come up with a plan so you cope better with those. But make sure your ideas work, and are attractive enough, as it’s hard to keep on going when we’re low on energy.
Keep it simple. A harsh or complex can be too hard to implement. But making simple changes feels much more doable. Also, remind yourself “it’s easy – and it’s not that hard to do.”
Notice your successes. And reward yourself with that. Your effort’s paying off-and you are closer to your goal.

TO QUOTE

Peace cannot be kept by force; it can only be achieved by understanding. – Albert Einstein

Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time. – Thomas Alva Edison

I have learned silence from the talkative, tolerance from the unkind; yet strangely, I am ungrateful to these teachers. – K. Gilbran

JUST TO LAUGH

A man walks into a bar and says, "Give me a beer before the problems start!" He drinks the beer and then orders another saying, "Give me a beer before the problems start!"

The bartender looks confused. This goes on for a while, and after the fifth beer the bartender is totally confused and asks the man, "When are you going to pay for these beers?"

The man answers, "Now the problems start!"