Hey, it's Rachel—

I've always been fascinated with people's dreams of winning the lottery and becoming rich. Did you know:

• The odds of winning the lottery are one in 300 million.
• 50% of Americans buy lottery tickets each year.
• 78% of Americans live paycheck to paycheck.
• The average American has a 3% chance of becoming a millionaire.

What is equally fascinating to me is that so many people leave such a big dream up to chance.

Why not just make it happen?

While building wealth can be complex, at its core, it's actually quite simple.

Here are the 6 laws of wealth that have the power to make you a millionaire if you put them to work:

The First Law of Wealth: Keep a part of all you earn. Save at least 10% of your income.

How? Having a budget helps. Prioritizing saving in your budget helps as well.

The Second Law of Wealth: Put your savings to work for you. Invest it so that it will multiply.

How? This guide can show you how.

The Third Law of Wealth: Avoid debt. The poor pay interest, while the rich earn interest.

How? The easiest way to achieve this: pay your credit cards off in full each month.

The Fourth Law of Wealth: Don’t speculate in get-rich-quick schemes. Invest in solid businesses that you understand.

Remember: If it sounds too good to be true, it probably is. You can get rich, but it's either going to take hard work, time, or both.

The Fifth Law of Wealth: Invest in yourself. Gain knowledge and skills to increase your earning power.

How? There are billions of dollars of knowledge available for free at local libraries. Read.

The Sixth Law of Wealth: Safeguard your growing fortune with diversification and insurance.

How? Low-cost index funds can help you diversify. Insurance can help save you if a one-in-a-million event happens to you.

(Source: The Richest Man in Babylon)

In today's email:

• Idea of the Week
• Resources of the Week
• Work With Me
• Advice Corner

Idea of the Week

How Much Does a Person Need to Retire: The 4% Rule Gives an Easy Answer

When you have a bad day at work, it’s common to ask yourself, “How much does a person need to retire?”

I’ve been there, grinding it out and dreaming of the days I can ignore my emails and enjoy a good book with a margarita on the beach.

Planning for retirement can be complex, but when I came across the 4% rule, it just made sense as an easy tool to quickly establish how much income we’ll each need to retire.

​Continue reading...​

Resources of the Week

• Something to Inspire You: Do Great Work​
• Something to Make You Laugh: This is so sweet​
• Something to Talk About: This is over 10 years old but still fascinating​

This Week's Email is Sponsored By:

Chart

Dave Ramsey's Baby Steps

You Should Know

Work With Me

Want to take this relationship to the next level? 😂

Here's how we can work together:

• ​Click here to schedule a 1-hour one-on-one call​
• ​Learn About Optimize Your Life Academy​
• ​Join Passive Income 101​

Need something else? Have a question?

Hit reply and let me know what you're looking for.

Something New

Advice Corner

Q: How can I overcome procrastination? I have the best of intentions but I find it difficult to actually sit down and get things done.

A: Overcoming procrastination starts with understanding its root causes. Once you've done that, you can implement strategies to address them. Here are some steps to help you overcome procrastination:

1. Identify the Causes
   • Fear of Failure: Are you afraid of not doing a task well?
   • Perfectionism: Do you set unrealistic standards for yourself?
   • Lack of Interest: Is the task uninteresting or boring to you?
   • Overwhelm: Do you feel overwhelmed by the size or complexity of the task?
2. Break Tasks into Smaller Steps
   • Divide large tasks into smaller, manageable chunks.
   • Focus on completing one small step at a time.
3. Set Specific Goals
   • Define clear, achievable goals.
   • Use SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound).
4. Create a Schedule
   • Plan your tasks and allocate specific times to work on them.
   • Use tools like calendars, planners, or apps to keep track.
5. Eliminate Distractions
   • Identify and remove potential distractions (e.g., phone, social media).
   • Create a conducive work environment.
6. Use Positive Reinforcement
   • Reward yourself for completing tasks or reaching milestones.
   • Celebrate small victories to stay motivated.
7. Practice Self-Compassion
   • Be kind to yourself if you slip up or procrastinate.
   • Recognize that overcoming procrastination is a process.
8. Find Accountability
   • Share your goals with a friend, family member, or colleague.
   • Consider working with an accountability partner or group.
9. Visualize Success
   • Imagine the positive outcomes of completing the task.
   • Use visualization techniques to stay motivated.
10. Seek Professional Help if Needed
    • If procrastination is severely affecting your life, consider seeking help from a therapist or counselor.
    • Cognitive-behavioral therapy (CBT) can be particularly effective.
11. Practice Time Management Techniques
    • Use techniques like the Pomodoro Technique (work for 25 minutes, then take a 5-minute break).
    • Prioritize tasks using methods like the Eisenhower Matrix (urgent vs. important tasks).
12. Address Underlying Issues
    • Reflect on any underlying emotional or psychological issues contributing to procrastination.
    • Work on building self-esteem and managing stress.

Do you have a burning question about passive income, personal finance, or positive psychology that you need answered? If so, hit reply and send me an email with your question. If you're lucky, I'll answer it in this section of the next newsletter.