How To Create Breakthroughs In Your Career And Finances

Gabriela is the Founder of the Latino Wall Street movement, which provides financial education to the Latino community.

Many people dream of financial freedom. Everyone wants breakthroughs — especially in the context of 2020 when fear, concerns and restrictions have been common themes.

But how do you create breakthroughs? How do you achieve financial freedom? I am going to share my three most important professional lessons that have proven to work for me when it comes to achieving success, but not just any success — the kind we all dream of.

1. Have Your Role Models Be Your Mentors

The importance of role models to achieve financial freedom should never be underestimated. You could study finance for 10 years, or you could have a mentor with 10 years’ experience who saves you time, energy, mistakes and a lot of frustration.

Success leaves clues. By having access to someone who is exactly where you want to be, you don’t have to reinvent the wheel. There is a way to replicate that success. Trust me.

Here is the problem: Most people are intimidated by their role models, so they don’t ask to be coached by them. If you don’t ask, the answer will always be no. Seek out your role models, offer something to add value to them and then ask them to mentor you.

I owe everything I know to my mentors, from New York Stock Exchange traders to hedge fund managers, who taught me about the stock market from a very young age. This has been my secret to success. All of it was possible because I had the right people — my role models, who I admire — mentor me.

2. Disrupt An Industry

To stand out from the millions of others in your industry, you have to be disruptive. Think of how social media has disrupted the internet. Disruption creates transformation. When you transform an industry, you recreate it. It’s as if you are changing history.

If you want to be at the top, you have to cause a disruption in the industry you are in. Take my example: The reason why Latino Wall Street was such a quick success and received so much press and global attention is because we disrupted Wall Street. When I founded the movement, I made the decision to be a voice for the Latino community so we wouldn’t be left behind in the world of finance. This created a global movement and fans from all over the world.

I am not suggesting you will be an overnight success, but if you find a unique way to add value to others, it doesn’t have to take a long time for you to position yourself at the top.

3. Break Stereotypes And Recreate Yourself

It is not enough for your company, brand or movement to be at the top. Everyone will be paying attention to its leadership. This is especially important because that’s you. If you are committed to having not just your

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Virginians feel OK about their finances, gloomier about the economy

Most Virginians — 62% — say they feel good about their personal financial situations but fewer than half feel that way about the national, state or local economy, a new Hampton University-Associated Press-NORC Center for Public Affairs Research found.

Some two-thirds of Virginia voters say they’ve been spending less since the pandemic hit — but they also don’t seem to be saving more or paying down debts any faster than usual, the poll found. The poll found 55% aren’t saving more and 67% aren’t paying down debt any faster.

Roughly three-quarters say small businesses have not had enough help from the government, and 70% say individuals are also not getting enough financial assistance. But 55% say large corporations got too much help. And a majority think the economy will remain slow or even worsen over the next year.

“Virginia voters are not optimistic about either the local or national economy,” said Kelly Harvey-Viney, director of Hampton University’s Center for Public Policy.

“However, most of the registered voters surveyed continue to support the current economic restrictions to prevent furthering the spread of COVID-19,” she added.

Two-thirds say restrictions to prevent the spread of COVID-19 should remain a priority, even if the economy suffers. Most have questions about vaccination, though: 19% said they will not get a vaccine and 38% said they are not sure.

“Concerns about side effects and the vaccine development process are driving the skepticism,” said Trevor Tompson, director of The AP-NORC Center.

The survey also asked about voters’ views on race, and found that 61% consider racism in the United States an extremely or very serious problem. Most said that race relations are more strained now than in recent years, while younger voters are more likely than older ones to see racism as a problem locally or in the state.

“The contrast of the perception of racism among the young and older voters here in Virginia illustrates the divisiveness gripping the nation and the Commonwealth of Virginia regarding racism and race relations and how it continues to be problematic,” said Harvey-Viney.

The statewide survey of 887 registered voters was conducted from Oct. 6 to Oct 12. It has a margin of error of plus or minus 4.6 percentage points. The survey did not ask who voters would support.

Among other findings:

*While 66% think their city or county is headed in the right direction and 56% say the same about the state, only 28% say the same about the nation.

*More than four times as many Virginians plan on voting before Election day than had done so in the past: 59% now versus the usual 13%.

*52% of Virginia voters in Virginia view former Vice President Joe Biden favorably, while 39% feel the same about President Trump.

*42% think a Biden administration would do well coping with the pandemic compared to 27% who say that about the Trump administration.

*43% think Biden would do better handling race relations, while 24% say Trump would.

*38% say Trump

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Record enrollment helps University of Tennessee finances

KNOXVILLE, Tenn. (AP) — Record enrollment has helped the University of Tennessee to make up for much of the revenue lost due to the coronavirus crisis, system President Randy Boyd said this week.

Lost revenue and added costs totaled around $147 million including about $40 million in lost revenue from sports, the Knoxville New Sentinel reported. However, thanks to grants, reduced expenses and an increase in tuition revenue, the total deficit was around $9 million, which was covered by reserve money, Boyd said at a Friday Board of Trustees meeting.

Enrollment increased 1.9% across the UT system to an all-time high of 52,559 students.

“Even though we had zero increase in tuition, our enrollment is up, and thus, our revenue from enrollment is up,” Boyd said. “Second, we get a third of our funds from the state of Tennessee. The state of Tennessee gave us the same amount of money this year as they did last year, so we didn’t take a cut there. And then third, our research dollars were actually up this year 1.4%, so all the key sources of revenue were either flat or up.”

Boyd said he does not have financial concerns for the spring semester.

To help cover the athletics deficit, the athletic department is instituting a tiered salary-reduction for employees earning more than $50,000 annually, effective Nov. 1 through the end of the fiscal year. The pay cuts are expected to save up to $1.6 million.

UT Knoxville will also cover several annual costs that the university typically charges the athletic department, including academic services and parking fees and will loan the athletic department any needed funds if assistance is unavailable from the SEC.

The Board also voted to reaffirm its diversity statement and add alumni to the statement. It now reads, “The Board of Trustees recognizes that diversity in the educational environment, including an outstanding and diverse student body, faculty, staff, and alumni, and an environment conducive to learning, adds value to the educational experience and the degree earned.”

Of the current UT system students, 19.6% are people of color. Meanwhile, current public high school juniors and seniors in Tennessee are about 36% people of color, according to Brian Dickens, chief human resource officer and chief diversity officer.

“If you look, two and three, four years out in terms of the diverse population that’s going to be coming through for potential students, it’s important that our campus reflects that population,” Board Chair John Compton said.

The Board also discussed plans to add Martin Methodist College, in Pulaski, to the UT System.

Discussions are still in the early stages, but UT hopes to have a special-called board meeting about the addition before the end of the year, Boyd said.

“We believe this is a win-win-win for Martin Methodist and that community,” Boyd said Friday. “We’ve talked with the faculty and the staff and they are incredibly excited about the opportunity to be a part of the state system.”

Source Article

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University Heights firefighters agree to wage freeze as city deals with pandemic finances

UNIVERSITY HEIGHTS, Ohio — The city and its firefighters union have come to a contract agreement in which the International Association of Firefighters Local 974 agreed to a wage freeze for the first year of the three-year deal. City Council agreed to the new contract during its Zoom meeting held Monday, Oct. 19.

With the city facing uncertainty as to its tax collections in a year in which COVID-19 has played havoc with communities’ budgets, Mayor Michael Dylan Brennan was grateful for the union’s consideration.

“Everybody is rising to the occasion during this pandemic,” Brennan said. “If we could give them raises, we would give them, but we can’t commit to that right now, and the fire union understands that. They look out for us every day in their capacity as firefighters, and they were looking out for us with this (agreement).

“It means the world to me. It’s not typical for a union not to seek a raise, but they understand it. They understand what’s going on in the community.”

The city and the union plan to get together next summer, by June 30, when the deal’s first year expires, and attempt to come up with a satisfactory amount for raises for the second and third year of the agreement. “We’ll pick it up again next year when we have a better idea of where we are (financially),” Brennan said.

It is the first of four contracts the city has to hammer out with its unions. Still to come are agreements with police officers and police administrators, and public service department workers. Brennan said he would not negotiate via the press and state whether he would ask the other unions to accept a wage freeze, but usually union agreements within a city are similar, which likely means that other unions will also be asked to accept a wage freeze for the first year of their deals.

“We’re appreciative of what the firefighters did and we hope the rest of our employees understand the situation,” Brennan said.

Meanwhile, council also approved Monday pay for city employees who were furloughed four hours per week, each Friday beginning in June, for 16 weeks, as the city attempted to save money. In all, council approved $44,682 for the employees. Brennan said he felt it was important that employees get paid for the time they missed due to something that was not their fault.

“They all worked fewer hours, but they all completed their work every week,” he said. “It’s important for us to stand by them, just as they stood by us and worked hard for us.”

Brennan said that firefighters were also prepared to take less, “to do something in solidarity” with their fellow, non-union employees. Firefighters were not furloughed, but Brennan said it was another example of the firefighters understanding of the city’s financial situation.

The firefighters did, as part of the new contract, receive a new vacation tier for those who have served with the department at least 24

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