Happy Wednesday, Wise Owl Nation!

Every Monday night I have a mastermind call with a few friends of mine.

We generally talk about how our weeks are going and use it as a means to catch up.

We also talk about our goals, obstacles, etc., and help each other overcome them.

This week my buddy Lee mentioned he needs to work more on improving his patience. That struck a chord with me and got me thinking about all the areas of life that I have benefitted by learning to be patient.

So, that is what I am going to talk through today. The power of patience! Dedicated to Lee.

Let's get into it.

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🧠 Wisdom Tip(s) of The Week: Patience is a virtue for a reason

Let's talk about patience.

Humans are wired to desire instant gratification since that is what helped keep our ancient ancestors alive.

But patience must have been a key component as well, seeing as you need patience to succeed in hunting down food. You need patience to keep searching for the roots, mushrooms, fruits, and other edible plants that gatherers would search for.

Even so, instant gratification is a constant demon we all struggle against.

Instant gratification has ruined more relationships, diets, and bank accounts than anything else.

Wars have been won or lost on how patient the generals were on each side.

Some of history's best-laid plans would have fallen apart if not for unending patience.

Healthy friendships and relationships form over time. They require patience.

A healthy body doesn't happen overnight and must be worked on over a long period of time. The gratification of a beach body is never going to be instant.

Marshmallows and Patience

There is a famous study about kids and marshmallows.

Basically, a kid was offered a marshmallow but was told that if they eat this one marshmallow, they would not get a second one. However, if they waited a bit, the researcher would give them a second one.

Then the researcher would leave the room, and most kids would eat the marshmallow. A few of the kids were able to wait, though. They were able to summon the willpower to delay their own gratification.

The study then followed these kids into their adult lives, and low and behold, the kids that were able to practice patience and delay their gratification were, on average far more successful.

💪🏻 Health Thought of The Week: Getting healthy requires patience

If I could snap my fingers and automatically have 12% body fat and a six-pack, you know I would do that.

That isn't reality though. The reality is that our bodies use energy to survive, and require energy to keep surviving. If you over-consume calories, your body puts those calories in a savings account...usually on your stomach, hiding those abs that our society has glorified so much.

To get rid of that savings account, you have to spend more energy than you have saved up.

It's kind of the opposite of the wealth equation 🤣.

How ironic that it is so easy to spend more money than we earn, yet so difficult to burn more calories than we eat.

The world is weird like that.

I digress. Since it is so difficult to burn more calories than we consume, and since we all know how important consistency is, we come to a realization that losing weight and keeping that weight off requires an abundance of...patience.

This is why I always talk about habits, routines, mental hacks, etc. to reduce the amount of willpower required to become consistent.

"The Cardinal Rule of Behavior Change:

What gets rewarded, gets repeated. What gets punished, gets avoided.

Don't reward behavior you don't want to see repeated." - James Clear

Get better at patience by...being patient 🧘🏻‍♀️

Patience is an external representation of willpower. The more you can exercise your willpower, the easier it will be to be patient.

Willpower can be improved in four ways:

1. meditation
2. sleep
3. exercise
4. eating low-glycemic foods (low sugar)

Again I speak of irony since all of the things listed above require willpower to do properly!

Fortunately for you, my friend, when you spend willpower to meditate, exercise, go to bed on time, or eat healthily, you get that willpower back over time.

My rule of thumb here is to pick three of the above and become consistent. If you can do that, your willpower will improve over time, as will your ability to be patient.

🤑 Wealth Thought of The Week: Becoming Wealthy requires patience

How many people in this world would be willing to take a shortcut to increase their wealth right now? A lot of people.

Be very, very careful with that weird urgent desire to have all the money RIGHT NOW.

The accumulation of wealth happens in 4 ways.

I have written these four ways probably 50 times since starting this newsletter. Sear this truth into your soul.

1. Reduce expenses
2. Increase income
3. Pay-off debt
4. Invest

If you do all four of these things over time, you will get wealthy.

There are many ways to do each step, and one popular way is to start a business.

Another popular way to try to earn wealth is to get scammed.

Patience is a key component in avoiding scams.

If it feels like a scam, sounds like a scam, and you find yourself in a hotel conference room looking at PowerPoint slides....it's probably a scam.

It's become a meme, but the whole "I have a great opportunity where you can start your own business, choose your own hours, and make all the money in existence. EVERY MONTH! 🤮

So, avoid that stressful shit. Tell your Multi-Level-Marketing friends that your priorities are elsewhere, and you don't want to join their scheming.

Then just stick to the real wealth formula and:

• Continue to spend less than you earn
• Continue to strive to earn more if necessary
• Don't increase your debt unnecessarily
• Continue to invest consistently

Be patient and profit.

Reminder - Ethereum's EIP-1559 is happening today

If you still don't know what EIP-1559 is, there is an amazing article on it that you can read here.

EIP-1559 stands for "Ethereum Improvement Proposal 1559" and is basically a major software upgrade to the entire Ethereum blockchain.

It is packaged into what is called the "London Hard Fork." When you upgrade an entire blockchain, you are basically replacing the old blockchain with the new one, and leaving the old one behind.

Anyway, the benefits of EIP-1559 are pretty big. Starting after the upgrade, a small portion of every transaction fee (which is ETH) will be permanently "burned" from existence.

There are millions of transactions on the Ethereum network, and the network runs 24/7 365 days a year, forever. That means that little by little, more and more ETH will be removed from the supply available to be bought.

When supply decreases, and demand increases, that causes prices to go up. It's basic economics. It's the same reason Pokemon Cards and Beanie Babies were so expensive when they were popular (in demand).

I expect the ETH price change to be a gradual process, but we might see some really large jumps in the price of ETH over the next few weeks as people realize this and rush to buy more ETH. Maybe.

If you are operating under the Wise Owl model, then you don't need to do anything different.

• Continue buying the crypto you like every week.
• Stake the crypto you can stake
• Lend the crypto you can lend (via BlockFi)
• Hold

That is all folks.

Quote/Meme of the week:

Have a great week!

This concludes our issue this week, I hope it gave you some perspective or injected a little motivation into your life!

If it helped, let me know! I read every newsletter response I receive, and I absolutely love hearing from all of you. This newsletter is for you, so I need your help to make it as great as possible.

If you'd like to show me some love for writing all this free stuff, you can always buy me a coffee.

More Resources

I will be adding to this section over time as we find resources that will help you all.

• Check out the Wise Owl Store
• All Wise Healthy Wealthy Articles on Medium
• Start your own Sendfox Newsletter
• Free products to help you level up

Crypto Resources

The Bankless Podcast: This is a link to the bankless podcast on Spotify. Start from the very beginning and learn why I am so positive about the power of Crypto and Ethereum in particular. You can find the podcast easily on the internet, but I am linking to episode 1 on Spotify for your convenience.

Buy your first ETH or BTC:

• On Coinbase - this is the easiest starting place for the newest beginners
• On Gemini - Another great option founded by the Winklevoss brothers. They are based out of New York.
• On Kraken - Kraken has a bit of a harder user interface, but they already have ETH staking enabled with the push of a single button.

Earn interest on your crypto

• BlockFi - Currently, you can earn 5% interest on BTC, 4.5% interest on ETH, and a whopping 8.6% on stable coins like USDC. Use the referral code b09f24fd to support the newsletter.

Other tools:

• Argent Wallet - This is the best mobile wallet for Ethereum, Defi, and all things on the Ethereum network, including staking. They even have plans to implement Layer 2 to remove network fees.
• Ethhub - this is a weekly newsletter that lists out all the interesting news, articles, and tweets that have happened in Crypto that week. It's free and awesome.
• Ethdashboard - A simple dashboard to look at various metrics in the ethereum space. I mainly use this as a quick tool to check ETH gas fees.
• Cointracker - this is one of the better tools for tracking all of your various crypto across all of the various wallets, exchanges, etc. You can also use them to do your crypto taxes each year.
• Metamask - this is a crypto wallet that you can access from your browser and allows you to easily interact with blockchain apps online.