If you have any sort of investment or watch TV/read the news or even the front page of yahoo! you have heard about the stock market yesterday, and markets around the world for that matter.

Brutal day on Wall Street

Dow tumbles 416, biggest one-day point loss since 2001, as investors eye China, drop in durable orders.

A lot of people woke up with an aspirin bottle and a glass of water, contemplating how they could have lost their life savings while others woke up with a glass of champagne and some strawberries contemplating how to spend the many millions that they made yesterday. A common misconception a lot of people hold is that everyone lost alot of money yesterday and everyone got margin calls and woke up with a glass of water and aspirin, but the truth of the matter is not everyone lost – some people got very very rich. 

So what separates the people who lost their life savings and the people who added to the war chest? What separates the people who were expecting this and got ready to take advantage of it from the people who got caught up in the stampede for the door? Beliefs and mindset!

How are beliefs or mindsets different?

For many people, even the ones who know nothing about investing, yesterday was confirmation that the stock market is risky and that it has the potential to make them lose everything they have worked so hard for. For a few, it was confirmation that you could use the stock market to make millions in a day. I knew this lady once who lived with her family and was expecting a baby. This was during 2003 when rates were so low; I said to her you know since you live with your family you should buy a rental property – rent it out then buy a place to live. She had very strong beliefs about moving out of her parents’ house and finding an apartment. I persisted with my attempts to get her to buy a rental property till I asked why she refused. She said rental properities are risky, toilets break down, people call you in the middle of the night, tenants don’t pay…When I asked about the stock market, the answer was surprisingly similar. Who do you know who has bought a rental property or owned stocks? I asked. No one. But they’ve heard it everywhere how risky it is…To someone with that mindset or belief pattern – they have recieved instant proof that they were right and it is risky, and they would never put their money in it again…

Now if I were to have a conversation with TraderMike-at tradermike.net I bet you that he would recount something totally different about the market and the opportunities that it had to offer and the millions one could make and for him or people who had the same beliefs patterns, yesterday proved them right.

“Law of Attraction states that we create our worlds by our thoughts, beliefs and our actions; therefore neither the economy, Wall Street or the housing market can determine how wealthy you are. You do that within yourself with your internal programming, and you have the ability to change it at any time.” Quote by Ophelia Nicholson (I asked Shauna if there were any quotes about the economy and your internal programming and she goes I don’t think I have any so why don’t you start quotes by Ophelia Nicholson – Man everyone needs a prosperity partner so they can have their own quotes!).

How does a person with a wealthy mindset deal with events that happened yesterday?

Shauna said “As with anything in life, if we are accustomed to thinking that we are controlled or directed by forces outside of ourselves, then we are playing victim and saying that we had no choice or control in our life.” (We won’t get into the how this was created or attracted; we can leave that for another day when I can’t think of anything to write.) “Tony Robbins mentions a 7th and final wealth wound in his Personal Power series which has to do with working hard to attain wealth and then losing it to unforseen events and NOT GETTING BACK IN THE SADDLE. He says this is a huge thing for people who have otherwise developed good finanical habits – the being so discouraged they give up when they suffer a loss, instead of regrouping and getting back in the saddle and moving forward – Shit happens – it’s not always good but what separates the winners from the losers, the wealthy from the wannabes is their REACTIONS to the events they have no control over.”

Man’s Search for Meaning

If you’ve ever read Man’s Search for Meaning, or a past blog post I wrote called the Events in Your Life: What do They Truly Mean to You? you come to realize that it’s not about the things that happen, but about the meaning you assign to them. If you assign the meaning that this is proof that you can make $$millions in a day, then more signs to support that will show up for you. If you assign the meaning that this is proof you should put your money under a mattress because it’s not safe and it’s risky then more signs will show up to support that. In the end the overall direction of your life will be based on the meanings you have assigned to different things. I encourage you to read the past post about Events in Your Life and rather than this being some sign that life sucks and nothing goes right, this is a good oppurtunity to put all this Law of Attraction and positive mindset to work for you.

Tags: creating wealth, economy, man's search for meaning, wall street