Short thread on goals and systems.

As we close out this year and plan for 2022, for those who feel like goalsetting isn't working for them - try the systems approach (credit goes to: @JamesClear)

Goal: Jiu-Jitsu black belt in 10 years
System: Go to Jiu-Jitsu twice a week
1. By creating a system (how / when / what you'll do on a daily / weekly basis) it feels like you're making steady progress.

What's great about the systems approach is that you don't need to operate with goals at all.
2. Even though it is my goal to get my black belt, that's not really the focus at all. The focus is on getting on to the mat. The belt is just the outcome.

Systems are focused on the journey.
Goals are focused on specific outcomes.
3. A famous psychologist and author (Dr P) likes to say: you get what you aim at; and if you aim at nothing, you'll hit nothing.

So I support the hypotheses: Have an aim.

But focus on building a system that helps you take a better shot.
4. The other problem with being outcome focused, is if you don't reach the goal, it's very demotivating and you can end up feeling depressed about not living up to the own standards you've set up for yourself.
5. This is specifically where I prefer Dr K (psychiatrist)'s approach: "Focusing on the ACTION, and ignoring the result, moves you closer to the result."

ie Focus on the system (the action), rather than the goal (the result), moves you closer to the result (the aim)
6. (My take) on vision boards: Make them, but also write out specific actions you can take regularly, to make them happen.

Then focus on those actions, while keeping the vision in the back of your mind.
Hope this helps someone.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Fatherless

Fatherless Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @AndreBothmaTax

1 Sep
A thread: Twelve lessons over twelve years of employment:

1. Often you'll feel underpaid and/or underappreciated.

For the first few years of my career I earned 3 - 3.5k per month
2. Don't be a afraid to ask questions.

My oupa used to tell me: A good question is better than a good answer.
3. Find a mentor, both inside and outside the company you're working for.

Dieter Schulze, regional CEO of RSM Global was my mentor that launched my career in taxation.
Read 13 tweets
22 Jun
Today, I feel very generous

(Thread): How to claim Working from Home (as an employee) for the 2021 tax return.
1. What you'll need:
1.1 Square meter of your home and home office, for example: 100m2 and 10m2. This will give you a percentage: 10/100 = 10%
1.2 Letter from your employer stating that you were working MAINLY from home from x date to y date.
1.3 Bank statements / bond statements
2. Your homework:
2a) Summarise the following: Rent / interest paid on bond; water & elec; telephone; internet; stationary; cleaning; office equipment = say this is in total 150k
2b) Work out the 10% home office component of it. 10% of 150k is 15k
Read 11 tweets
22 Jun
Prepare for the 2021 tax season:
1. Dig out your eFiling login details,
2. Grab your income/deduction sources:
IRP5s for salary,
IT3B/IT3C for investment
RA cert for RA
Logbook for travel
Medical cert for medical etc
3. Request the 2021 tax return on or after 1 July
(Thread)
4. Compare the numbers on the 2021 tax return to the numbers on your own supporting documents (don't simply accept SARS info)

5. Click calculate on the 2021 tax return, to get an idea of any tax you might get back or have to pay SARS (the calculator does not incl Prov Tax paid)
6. If you're confident in the numbers, click submit or contact a professional before you do. The submit button like running and jumping into a pool. You can't reverse the jump.
Mistakes are expensive to fix
7. Download the assessment and statement of account
Read 8 tweets
19 Jun
[Thread] Before I take a bit of a break from Twitter, Section 12J VC companies are trying to get people to invest before 30 June 2021.

I'm here to warn you about them:
1. Section 12J investments are 100% tax deductible in the year that you make the investment...
2. But what they don't tell you is that if you sell the investment within 5 years of making the investment, the whole deduction must be added back as an income.

This can mean that in the year that it's added back, you'll have to pay back a huge amount of tax.
Read 6 tweets
8 Jun
[THREAD] The one director, one shareholder, one employee company.

Perhaps you've heard that a company only pays 28% tax and got the bright idea to register yourself as a company, doing the same work, and only pay 28% rather than at the 45% tax bracket.

Bring your tissues...
Problem 1: How do you pay yourself? The money is yours after all.

Not really, it belongs to the company. Now you need to either pay yourself a salary (which you were getting in the first place) or dividends... And dividends is an after tax payment.
Problem 2: Dividend delusion. So you decide to take dividends because the tax is only 20%

Cute, but bad.

Say the company made 1mil profit, pays 280k in comp tax, and you pay yourself a dividend of 720k. 720k div @ 20% DWT = 144k

Total tax paid: 424k (42.4%)
Read 10 tweets
10 May
[Thread] As promised, here's my take on the tax implications and provisions in the Income Tax Act on cryptocurrencies. Credit to @SlwaneToYou for proofreading.
1. The Income Tax Act (the Act) defines cryptocurrency as a financial instrument, which means that the normal tax provisions within the act that applies to financial instruments will also apply to cryptocurrencies.
2. The reason why lawmakers have defined it as a financial instrument is that it can be used like a normal currency, but its value determined by market supply and demand. Unlike the Rand, R 1 today is R 1 tomorrow, but 1 Doge was $0.71 on Friday, and $0.41 on Sunday
Read 25 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(