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Peter Donisanu

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Gen One LegacyGen One LegacyWe've Moved: FI Mastery is Now Gen One LegacyIn this landmark episode of Gen One Legacy, formerly known as The FI Mastery Podcast, host Peter Donisanu unveils a transformative shift in the podcast’s mission and name to more accurately reflect its renewed vision. Today, we're embarking on a journey not just toward financial independence but toward creating enduring legacies that will benefit generations to come.Peter shares his personal vision of leaving a legacy where future generations achieve greater heights, fueled by the belief that impactful change starts with one individual. This episode is a call to first-gen tech professionals, the innovators an...2024-02-1403 minGen One LegacyGen One Legacy3 Ways a Family Charter Can Help Support Your LegacyUnder the right conditions, money does grow on trees.You heard that right. And to be clear, money can only grow on trees when it grows from a family tree. How so? Well, when each successive generation in a family tree works together, they can produce a varying measure of wealth that benefits each family member and their broader community. And so, what's the catch? Well, the catch is that wealth produced by your family doesn't just happe...2024-01-1813 minGen One LegacyGen One Legacy2024 Economic Outlook: Why Forecasts Still MatterEconomic and market forecasts are often wrong, but they're still useful.Indeed, looking back on the past year, most market prognosticators and economists got the year's forecasts wrong. That's because last year was supposed to be the year that the US economy fell into a recession, which led markets to bet that the Federal Reserve would cut interest rates by the end of 2023. And while risk assets eventually rallied on expectations of policy changes, interest rates are still nowhere near where the markets had predicted at the start of la...2024-01-1115 minGen One LegacyGen One LegacyEmbracing the Journey: How Small Steps Can Define Your Life's WorkDo you know what you were put on this earth to accomplish?Or are you grinding away in a vocation that seems to be producing little fruit? Certainly, these sorts of profound questions are ones that philosophers have debated for millennia. And so, when considering one's life's work, it's easy to think about it in the context of significant achievements by notable individuals who have fundamentally changed the course of society. Take the philosopher Socrates, for example. This man’...2024-01-0414 minGen One LegacyGen One LegacyFocus on Basics to Create Resolutions that StickYou've likely heard that 80% of New Year's resolutions fail by February.And some studies have even shown that less than 10% of individuals will have achieved their New Year's goals by year-end. So then, what's the point, right? Why do so many of us go through the trouble of setting goals if there's a low chance of achieving our desired outcomes in the end? Well, it's likely because we all know that goal setting allows us to create a structure for the things we're trying to acc...2023-12-2810 minGen One LegacyGen One LegacyGive Your Family the Gift of Knowledge this Holiday SeasonWith Christmas just days away, some of you may be scrambling to find that last perfect gift for your family this year. Well, before you head out the door for one last purchase, might I suggest the gift of knowledge this year? You see, if you're planning to leave behind any measure of wealth to your loved ones after you pass, then giving the gift of knowledge is crucial to this end. And why's that? Well, that's because asset transfers without knowledge tran...2023-12-2114 minGen One LegacyGen One LegacyInvesting in 2024: Understand Your Risk Tolerance to Navigate Uncertainty with ConfidenceA solid investment strategy seems to work until something comes out of left field to knock it off track. You know, as the former heavyweight champ Mike Tyson is known to have said that, "Everyone has a plan until they get punched in the mouth." And in the investing work, we sometimes call these big, unexpected market and economic events "Black Swans." So, why should you care about Black Swans? Well, you should care because how you respond to these significant events can make the diff...2023-12-1413 minGen One LegacyGen One LegacyGifting to Service Providers, Colleagues & CharityThe holidays are all about giving back, right?You've heard it, I've heard, and frankly, by now, most of us feel like we've done our part after spending what feels like plenty on family this holiday season. We've answered charity drives and slipped an extra twenty in that little red bucket set just outside the big box store. What more can be done, right? Well, if you're like me, the struggle isn't so much about parting ways with money, but rather, it's about knowing that you...2023-12-0710 minGen One LegacyGen One Legacy10 Year-end Planning Tips for High EarnersThe end of the year is upon us, and with it comes one last chance to get your financial ducks in a row before it ends up costing you. You see, while many of us are focused on trimming trees, making last-minute gift purchases, and planning holiday parties, the truth is that all of us likely have that one item on our financial to-do list that we've been meaning to get to all year long. And while it may seem like no big deal right now, failing to take care of just one ye...2023-11-3011 minGen One LegacyGen One LegacyThree Things I'm Grateful for this Holiday SeasonToday, we're going to talk about the practice of gratitude. Now, as many of us gather this week to express our thankfulness for everything that's happened in our lives this year, there's no better time than the present to focus on our practice of gratitude. Now, while thankfulness and gratitude share many commonalities, gratitude is often a deeper and more enduring sentiment.  That's because it's not just about recognizing good things that have happened to us but also involves a deeper appreciation that fills our attitude and our approach to l...2023-11-2309 minGen One LegacyGen One LegacyIs it Time to Rethink Your Emergency Fund?At what point is an emergency fund no longer necessary for your financial situation? Never, right? Because common sense tells us that everyone needs an emergency saving fund. Indeed, you've likely heard how crucial it is to have money set aside as your first step in building a solid financial plan. But the fact is that for some, an emergency fund in the traditional sense tends to make less sense as a household earns more money and accumulates more assets. Now, make...2023-11-1617 minGen One LegacyGen One LegacyHow to Use a Giving Strategy to Help Causes You Care AboutSo, you want to give money, but not sure where to start?Well, I don’t blame you.Giving is hard because, according to some of the data out there, there are well over one million registered non-profits globally.Even so, if you're like me, the holidays serve as a reminder about how crucial it is to focus on giving rather than receiving.So then, with all the choices available to you, who exactly are you supposed to give your money to in the first place?Like, which one is...2023-11-0914 minGen One LegacyGen One LegacyWhat Benjamin Graham Can Teach Us About Investing when the World is Falling ApartLately, it feels like we're staring into an abyss that makes even the most seasoned investors want to get out of the markets.It feels like there's a lot that's going wrong with the world right now, and many things are quickly coming to a head. That's because, among many developments, the Middle East has once again become a flashpoint for geopolitical tensions. Now, conflict in the Middle East is nothing new for the seasoned investor. In fact, these uncertainties have largely become a typical part of the...2023-11-0211 minGen One LegacyGen One LegacyHow to Avoid Leaving a Failed LegacyWhat comes to mind when you hear the phrase "leaving a legacy?" Well, when it comes to money, you might think about the ins-and-outs of estate plans, right? Well, the truth is that that's just one side of the big picture. You see, too often, many of us get caught up in thinking about WHAT our money can do after we're gone instead of HOW our the one we care about might actually use our wealth. Indeed, legacy planning centered solely around money is simply a passive strategy built on...2023-10-2617 minGen One LegacyGen One LegacyHow to Be a Prudent SpeculatorBeing a prudent speculator is like trying to "act natural", or being "clearly confused", or listening to the "deafening silence".They're all things that typically don't go together.Even so, it is possible to become a prudent speculator if you approach it the right way.And why would you want to be a speculative investor?Certainly, don't we all know that disciplined investing is the surefire way to achieving and maintaining financial independence?Well, let's face it: For many of you out there...2023-10-1917 minGen One LegacyGen One LegacyWhy You Should Walk Away from a Less than Ideal Work EnvironmentWhat is the biggest career mistake that many high earning individuals make? They stay in a job far past its expiration date.And why is moving on from a bad job so hard to do? Because leaving means change. And let's face it, few of us like change. Especially when it means giving up on all the time and effort you've poured into a situation or simply anticipating the uncomfortable feeling of the unknown. But you know what? The truth is that walking away to take...2023-10-1217 minGen One LegacyGen One LegacyHow Smart Investors Profit from Tax Loss HarvestingIt's that time of the year again, and apple picking and pumpkin patches not only usher in traditional fall routines, they also signal that it's time for an annual review of potential tax losses you can harvest from your investment portfolio. And you know, just as farmers come together to bring in the fall harvest before winter kicks in, prudent investors should take the time to review their portfolios for opportunities to harvest tax losses this season. Now, for some of you out there, the idea of "harvesting" losses might seem counterintuitive. That's bec...2023-10-0517 minGen One LegacyGen One LegacyOld Money Secrets to Creating Lasting WealthSo, you’ve finally made it big in your career, or your startup has finally taken off. What should you do with your money now?Well, whatever you do, it's crucial to be mindful of the advice you take. You see, all you need to do is log in to any social media website, and you're likely to find accounts that claim to have wealth "secrets" available only to the rich and famous.But you know the truth is that when it comes to prudently managing your newfound wealth, there are no s...2023-09-2812 minGen One LegacyGen One LegacyBenefits Enrollment: From Overwhelm to Under ControlBenefits Enrollment is just around the corner. Do you have what you need to make critical choices at this vital time of the year? Now, while benefits elections might seem like a routine administrative task, the decisions you make during this crucial election period could significantly impact your finances for years to come.But for many of you out there, open enrollment might feel like a maze of features and benefits that can leave you feeling so confused and overwhelmed that you resort to box-ticking just to get it over with. And so, wh...2023-09-2116 minGen One LegacyGen One LegacyForget Roth, Here’s Your Single Best InvestmentWhat's the one investment that can double, triple, or even ten-x your wealth and keep producing a steady stream of income no matter what life throws your way? It's human capital. Indeed, investing in yourself is the single most valuable component of wealth building. And yet, it often doesn't get the attention it deserves.And, so, what exactly is human capital?Well, you can think of human capital as the unique value that you bring to the world. In a way, it's like an invisible backpack of everything you know and ca...2023-09-1417 minGen One LegacyGen One LegacyHow to Manage Concentrated Investment RiskAll it takes is just one stock to go to the moon, and that's it, you're set for life, right? Well, if it were only that simple. You see, concentrated investing, or keeping your eggs in one basket, seems to work until it doesn't. Now, make no mistake, concentrated investing isn't all that bad. In fact, notable investor Warren Buffett is known to have made lots of money decade after decade because he takes big bets.  Even so, concentrated investing isn't for everyone. In fact, if you were to personally ask the Oracle of O...2023-09-0714 minGen One LegacyGen One LegacyWhy Markets are Primed for a PullbackEvidence suggests that this year's risk asset rally is likely primed for a pullback. So now, why now? Why the glum news after the S&P 500 index posted one of its strongest year-to-date gains in a while? Well, it's essential to remember that most market activity is underpinned by a narrative or a story that influences price swings either higher or lower. And this year's rally isn't any different. To be sure, the consensus view among many investors this year was that the Federal Reserve (the Fed) would finally beat...2023-08-3110 minGen One LegacyGen One LegacyHow to Calculate Your Life Insurance NeedIf you have people who depend on you, then you need life insurance. That’s all you need to know, right?Well, if it were only that simple. That’s because knowing that you need insurance is a first step, then comes the work of figuring out how much you need to cover estate expenses, debts, living expenses, college savings, and future financial goals.To be sure, buying life insurance can be one of the most reassuring and, at the same time, the most stressful decisions you can make. On the one hand, you’r...2023-08-2415 minGen One LegacyGen One Legacy3 Ways to Plan for Tax-Free IncomeLet’s face it, no one likes paying Uncle Sam more than his fair share. But what if there was a way to take advantage of financial planning techniques to not only grow your savings, but also help protect your family and transfer wealth tax-free? Sounds too good to be true, right?Well, it’s more possible than you think. And as a highly driven individual, you likely have multiple streams of income to consider, like your salary, bonuses, stock options, and perhaps even revenue from a side hustle or business. And with these...2023-08-1719 minGen One LegacyGen One LegacyThree Ways to Better Manage RiskWhat comes to your mind when you think of the word, “risk?”Maybe when you hear the word “risk”, you think of the word danger, or the potential for of an undesirable outcome to your health, wealth or time. Or maybe when you hear the word, “risk”, you think of all the possibilities associated with potential outsized financial gains as you put some of your money on the line for a solid investment. Either way, whether you see it as a danger keep away from at all costs or an opportunity to make money, moving...2023-08-1015 minGen One LegacyGen One LegacyIs a Trust Right for You?Asset protection, securely transferring wealth, and keeping your family's finances on track no matter what life throws at you. Who doesn't want that, right? Well, these outcomes were top of mind for Craig, a devoted husband, a father of two, and a tech professional.Now, having built a successful career and arriving at a solid place in life financially, Craig grew increasingly concerned about his family's financial stability. That's because Craig had earned a lot in his career and wanted to ensure that his family could manage it all if he passed away unexpectedly.And...2023-08-0313 minGen One LegacyGen One LegacyFall in Love with the Journey“Are we there yet, are we there yet?” Now, if you’re a parent with young children, then this refrain coming from the backseat of your car is likely commonplace at this time of the year. Now, as tempting as it is to get frustrated by these questions, especially when you’ve heard them for the umpteenth time, the reality is that the question, “are we there yet?”, as annoying as it may be, is one that we continue to repeat no matter how old we get.Indeed, when it comes to making headway in our path to f...2023-07-2710 minGen One LegacyGen One LegacyEstate Planning for Mere MortalsWhen you hear 'estate planning', what pops into your head? Massive mansions, complex legal documents, and colossal inheritances, right? Well, truth be told, estate planning isn't just for the well-heeled. In fact, it's a must-do for anyone and everyone who wants to keep their hard-earned assets safe, distribute their wealth in an organized way, and take care of their loved ones even when they're not around.So then, what does it take to have an effective estate plan?Well, first things first, you’ll need to identify the assets in your esta...2023-07-2019 minGen One LegacyGen One LegacyHow to Buy Insurance Like a ProWhether you love it or hate it, getting and maintaining the right insurance coverage is one of the most crucial financial decisions you can make to build and preserve your financial independence outside of saving for retirement.Now, up until recently, it seemed like the only way to get the coverage you needed was to work with an insurance salesperson.Even so, with various options and so many policy decisions coming down to just a few mouse clicks, you now have more power to protect your wealth at your fingertips than ever.To...2023-07-1319 minGen One LegacyGen One LegacyRevitalize Your Retirement Savings with a Mid-Year CheckupMaking regular contributions to an employer-sponsored plan can supercharge your journey to financial independence. But, you already knew that, right?And, you likely already know about the benefits of "free money" that you could receive from your employer match and how pre-tax contributions to a qualified retirement account like a 401k, 403b or other employer-sponsored account can give your financial independence savings goals a major boost.But, did you know that there are things you need to do periodically throughout the year besides putting money into your employer-sponsored plan to ensure that your f...2023-07-0618 minGen One LegacyGen One LegacyBull Markets, Shifting Catalysts and Evolving NarrativesStocks in the US are back in bull market territory this month but don't tell that to the market bears. That's because it seems like just around every corner, there seems to be a risk that could take the steam out of the current rally and send risk assets into a sharp drawdown only matched by those related to recent economic, political, or security dysfunction.Make no mistake, this year's risk asset rally is likely to be one of the most hated bull markets in history. That's because some major indices continue to charge higher e...2023-06-2915 minGen One LegacyGen One LegacyTrain Your Brain, Build Your Fortune: The Power of Mental RehearsalWhen was the last time you mentally rehearsed how you're going to make your financial goals a reality?Well, whether you're a skeptic or a die-hard proponent of mental rehearsal, you can take a lesson from Craig, who used this approach to fast-track his financial progress toward his essential life goals.Now, Craig had a decent job as a middle manager in a tech company and was making good money, but not the kind of money where he could call himself rich. Even so, Craig had big dreams. And his goal was to hit a...2023-06-2214 minGen One LegacyGen One LegacyDon’t Let Blindspots Derail Your Financial PlansWarren Buffet once wisely said, "Risk comes from not knowing what you're doing." These words ring true, especially when it comes to your personal finance. Picture yourself embarking on a journey without a map, unaware of the twists and turns that lie ahead. Now apply this metaphor to your financial life. The truth is that we all have blindspots which are those overlooked or misunderstood aspects that silently sabotage our best-laid life plans. Indeed, these blindspots can range from unchecked spending habits and neglected investment opportunities to unoptimized tax strategies or an often ign...2023-06-1529 minGen One LegacyGen One LegacyWhy Linear Thinking Won’t Get You Exponential ResultsHave you ever wondered why some people seem to achieve enormous growth, whether in mastering new skills or building wealth, while others appear stuck in a state of static complacency? Exponential growth might just be the hidden answer. Now, before you write off this seemingly abstract concept, let's take a moment to think about this concept in simpler terms. To do this, picture yourself standing at the foot of a towering mountain of opportunity. Now, the peak is barely visible because it's shrouded in the clouds of potential. Even so, this moun...2023-06-0821 minGen One LegacyGen One LegacyIs a Roth Conversion Right for You?A Roth conversion is a critical consideration for many high-earning tech professionals and business owners, but is it right for you?To be sure, as you delve into the work of planning for your financial independence journey, it's essential to understand the intricate dance between taxable and tax-free retirement accounts. And as we've pointed out in recent articles, with a strategic approach, you can make the most of your hard-earned money and ensure a comfortable retirement that aligns with your aspirations.But, now, at what point should you consider a Roth conversion?Well...2023-06-0122 minGen One LegacyGen One LegacyNavigating the Maze of Restricted StockDecisions, decisions, decisions. That's mantra, for better or worse, that defines the life of every tech professional navigating the complex labyrinth that is the world of restricted stock (RSUs).Picture this - you're sitting at your laptop, sipping your morning coffee, and you receive a notification that your company's stock has vested.That's good news, right?After all, this stock forms a significant part of your overall compensation and holds the power to substantially change your financial well-being. But then, an all too familiar sensation starts creeping in, and that's that overwhelming sense...2023-05-2515 minGen One LegacyGen One LegacyThe Quest for a Perfect Credit ScoreWhat does having a perfect credit score mean to you? Well, it might mean being able to show up at the dealership and buy your next car without worrying about how you will finance it. Or, it might mean having peace of mind knowing that you can purchase your dream home because you've qualified for a relatively low-interest rate.Either way, having a perfect credit score can open up many opportunities you may otherwise not have access to.Now, you may be saying to yourself, "I have a good job, I pay my b...2023-05-1826 minGen One LegacyGen One LegacySet Financial Boundaries and Gain Peace of MindAre you good at setting boundaries? If you’re not, then rest assured that many individuals struggle with setting and enforcing boundaries. And what kind of boundaries are we talking about here?Well, imagine for a moment that a school’s playground is situated so close to a highway that you could reach out and touch the passing cars. In fact, there are no fences surrounding the playground and cars zip right by at 80 miles per hour, unimpeded. Now, understandably, when it’s time for recess, both the teachers and children face an overwhel...2023-05-1125 minGen One LegacyGen One LegacyAsset Location vs. Asset Allocation: The Winning Formula for WealthHave you ever wondered why your savings aren't growing even though you're contributing to an investment account? It may be because you haven't set your investment strategy.That's what happened to Mariam.Now, Mariam knew the importance of investing and that her bank account wouldn't cut it when it came to satisfying her long-term financial independence goals. But, like many uninitiated investors, Mariam misunderstood the concept of investing and believed that simply opening an investment account would guarantee high returns.Sound familiar?Well, in Mariam's case, she opened a Roth IRA, because that's...2023-05-0425 minGen One LegacyGen One LegacyInflation, Banking Crises and Recession: Position Your Money for SuccessIf you had to guess how financial markets performed in the first quarter based solely on news headlines, what would you find?Performance was likely quite poor, right?Well, the truth is that markets held up quite well in the first quarter, but I wouldn't blame you if you guessed that it was just another disappointing repeat of what we saw last year.To be sure, after news of markets swooning back and forth on optimism and pessimism on central bank policy, stubbornly high inflation, the prospects of another banking crisis, and the...2023-04-2716 minGen One LegacyGen One LegacyWhat’s the Cost of Having Too Many Financial Accounts?Are you feeling overwhelmed with managing all of your financial accounts? Are you finding it challenging to stay on top of your finances and make sound decisions due to cognitive overload? Well, it turns out that being overbanked can have significant mental and financial costs, ultimately hindering your journey to financial independence. In this week’s episode, we explore the phenomenon of cognitive overload and how it can lead to suboptimal financial decisions, as well as the financial costs associated with having too many accounts. But don't worry, we also provide practical solutions to si...2023-04-2016 minGen One LegacyGen One LegacyIs Financial Procrastination Derailing Your Life Plans?What do Willie Nelson, MC Hammer, and Allen Iverson have in common? Well, what their life situations have in common is that it doesn't matter how much you make, but how much you keep.To be sure, these individuals came into vast fortunes, only to see their wealth dwindle in a short period of time. And certainly, it's hard to believe that these individuals didn't have trusted advisors who urged them to take actions that could help them preserve their fortunes.But the truth is that there are likely many reasons why these individuals found...2023-04-1325 minGen One LegacyGen One LegacyIs Your Credit a Superpower or Kryptonite?Is credit a good thing or bad thing?Well, it all depends on your perspective.When used correctly, credit can supercharge your life and help you level up financially in a shorter time than you would have if you relied on savings alone. That's why Dale Carnegie, in his book, "The Gospel of Wealth," wrote that debt could be a powerful force for good if used productively.Now, the trouble with debt is that, just like any other financial tool out there, it has been misused by lenders and borrowers alike, leading its...2023-04-0628 minGen One LegacyGen One LegacyWhat Really Drives the Value of Your Employer’s Stock?What really drives the value of your employer's stock? Well, if you hold your employer's stock in your 401k or through your equity award, then you might be interested in learning how your own insider perspective can help you understand what can cause your company's stock to move up or down over time. That's because, in this week's podcast, we'll discuss the key factors that may influence your company's value and, ultimately, how it may affect your retirement nest egg and overall net worth. You'll learn the significance of understanding your company's leadership, vision, and values and h...2023-03-3026 minGen One LegacyGen One LegacyCan a Credit Crunch Be a Positive for the Markets?Can banking sector woes actually be a good thing for the fight against inflation? Well, in some ways a seemingly negative event like a credit crunch could actually bring about positive change in the economy and the markets financial markets. And in this week’s podcast, we’ll take you on an insightful journey through the surprising connections between recent turbulence in the banking sector, the Federal Reserve's relentless battle against inflation, and the emergence of a potential silver lining that could prove beneficial for risk assets in the long run.We’ll delve in...2023-03-2313 minGen One LegacyGen One LegacyDon’t Confuse Cash Flows and BudgetsCash is the lifeblood of your finances. Without it, you would be hard-pressed to pay your debts, cover your living expenses and prepare for essential savings decisions. With cash flows being a critical component of household finances and the primary path to securing financial independence, various surveys suggest that between half and three quarters of Americans don't have a process for keeping track of their cash flows! What's more, the data show that about half of working Americans are living paycheck to paycheck, and about that same number can't cover a $1,000 emergency expense.Ma...2023-03-1620 minGen One LegacyGen One LegacyManage Your Tax Anxiety and File Your Returns with ConfidenceIs tax anxiety causing you to wait until the last minute to file your tax returns? If so, then you’re in good company. According to one survey, over thirty percent of respondents said they waited until the tax filing deadline to prepare their returns last year.Now, if you’re one of these individuals, there’s likely many reasons why you’ve chosen not to file your taxes yet.Maybe you anticipate owing money to the government this year and you’re using every last moment to wait to pay Uncle Sam his owed money...2023-03-0923 minGen One LegacyGen One LegacyA Playbook for a Healthier Relationship with Your MoneyMoney alone will not buy you lasting joy. Money alone will not solve many of your most profound relational problems. Money alone will not help you discover who you are or what you should do in life. More often than not, however, many individuals deceive themselves, believing that their pursuit of money can help them solve these and other life problems.Don't believe me?You can ask the well-paid executive who spends too much time at the office and is about to lose his family. You can ask the professional athlete who worked their whole...2023-03-0222 minGen One LegacyGen One LegacyDon’t Hold Your Breath: Rates Aren’t Coming Down Anytime SoonIf you've been hoping for interest rates to fall this year, I've got some bad news for you: borrowing costs will likely only go higher from here.At least, that's what we've been hearing from various Fed officials over the past couple of weeks. More specifically, these individuals have been telling us that the central bank should continue raising rates into the foreseeable future, and the fact is that incoming data supports their case for future rate hikes.To this point, inflation data for January showed that prices accelerated at a faster-than-expected rate, rising 0.5% on...2023-02-2313 minGen One LegacyGen One LegacyTime for a Refresher: Don’t Leave Restricted Stock on the TableImagine receiving an award from your employer for the value that you bring to the table, but the payout doesn't come for months or even years down the road. If you work in the tech industry, or otherwise receive a stock award from one year to the next, then you'll likely understand how exciting and at the same time, how bewildering it can be to receive what can be a significant portion of your income doled out over an extended period of time.That's why understanding this often complex form of incentive compensation is essential t...2023-02-1616 min