___

___

___

___

But is it possible to have too much money?

___

I remember Donald Trump being asked about the difference between $70 million and $700 million. He said, “A bigger boat.”

___

___

Some people don’t need a bigger boat. Other people don’t need a boat at all!

___

___

That reminds me of something one of my mentors once said, “There are two good days in the life of a boat owner. The day you buy it and the day you sell it!”

___

___

Toys are the fun side of money. It’s the side we usually think about. But more money also means more responsibilities – more legal issues, more accounting hassles, more management headaches even if it’s just managing your portfolio.

___

A lot of people think you can just hire someone to do those things for you, but you have to be careful how much you delegate. No one will look out for your money like you will.

A simple choice

While our society often seems to equate bigg success with bigg money, it’s important to determine what you want. Bigg success is life on your own terms. Live the life that makes you the happiest.

For some people, there is such a thing as too much money. They choose a different path to bigg success.

We can reduce this to a simple choice:

• adjust your lifestyle to your wealth or …

• … accumulate enough wealth to support your lifestyle.

Now don’t think it’s a rags or riches mentality. You don’t have to live like a pauper if you choose to adjust your lifestyle.

Many people are perfectly content simply living simply, but comfortably. They have a nice house, drive nice cars, and take nice vacations. Of course, you get to define nice.
 

Simply pick your number

Let’s look at the difference between these two choices. First, let’s say you can live life on your own terms with an income of $100,000 a year. Financial planners tell us we can draw down our portfolio at the rate of 4% a year when we retire. So that means you would need $2.5 million of assets to support your lifestyle.

Now, what would it take if you wanted to live large? We hear a $250,000 a year income is now considered “rich” here in the States. So let’s use that as the magic number.

Then you would need a portfolio of $6.25 million.

Quite a difference, huh? You don’t have to stress about accumulating such a large portfolio if you adjust your lifestyle to your wealth.

Some people enjoy a higher quality of life by choosing to simply live simply yet comfortably.

They worry about money less because they have less money.

It’s life on your own terms. You pick the path that makes you the happiest. That’s bigg success!

What about you? Are you happy living simply or do you want to accumulate wealth?

Share that with us by leaving a comment below, calling us at 888.455.BIGG (2444) or e-mailing us at bigginfo@biggsuccess.com.

Thanks so much for simply spending your time with us today!

___

___

Please join us next time when we’ll talk about the one-minute layoff. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00436-071409.mp3

Related posts

Live Like a King on Less

6 Paths to Financial Freedom

Save Now Without Depriving Yourself

(Image in today's post by ba1969)

A lot of people are afraid to turn down a promotion even in the best of times. Now there is even more pressure with the tight job market.

___

___

There may be fear that you’ll become more expendable if you turn down a promotion. You’ll be more likely to be let go should another round of layoffs occur. In some business cultures, this attitude is more pervasive than others.

You may fear that you’ll never be offered another opportunity – that passing up this promotion means that you’re not interested in moving up. You may be interested in getting promoted, but this just isn’t the right time for you.

You may even be concerned that it will change how your boss treats you in your current job. You worry that it will change the attitude your boss has about you.

A graceful decline

You want to live your life on your own terms. If that means this opportunity isn’t right, then you need to find a way to gracefully decline it.

You still want to be viewed as a team player. You don’t want to put your current job or standing in the company at risk. Of course, there’s no guarantee of that, whether or not you accept the promotion.

So let’s talk about your strategy. How should you proceed?

Genuinely thank them for offering you the position

It is an honor and you should treat it as such even if it’s not right for you. Express that to them.

Respect the agenda of your boss

While you’ve thought about your terms and determined this wasn’t a good fit, obviously your boss thinks it is – that’s his or her terms. Be respectful of those terms and try to help your boss fulfill them. How?

Focus on what you can do, not what you can’t do

For example, perhaps you’re willing to accept some additional responsibilities while they train the replacement. You’re willing to take these duties on in the short run; you just don’t want to do it for any lengthy period of time.

Point how it benefits them to keep you where you’re at

For example, your current position may really play to your strengths. You know your job well and you believe you can make a more significant impact by staying put.

Quickly follow up with one or two specific examples

How have you made a difference recently? By helping your boss see how you help the company where you’re at, he or she is more likely to agree that it’s a good idea to keep you there.

Now obviously, this is going to be a very important conversation. So before you sit down with your boss …

Practice. Practice. Practice.

Practice with your significant other or a friend. Practice in front of a mirror. Practice until these five steps and the words you will say are clearly mapped out in your mind.

Life on your own terms is important. It’s also important to help the key people around you live their lives on their own terms. That’s bigg success!

___

___

Please join us next when we talk about what your choice of car may say about you.

Thanks for spending your time with us. Until next time, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00375-041709.mp3

Related posts

Stop Trying to Fit into the World

4 Secrets to Having All You Really Want

(Image in today's post by svilen001)

We work to get to that comfortable spot, and we want to stay there.

We think he got it wrong, not in the message, but in the semantics. We think he should have explicitly included change as something that is certain, rather than making it implicit in his quote.  

Will you lead or follow?
Even when it’s change that we’re creating ourselves, it can be scary. But it’s especially frightening when it’s a surprise.

For example, picture Jane telling her boss that she’s accepted a new position. She’s going to experience change. But isn’t that more comfortable than Jane’s boss telling her that her job is being eliminated?

It’s better to be a leader of change than a follower.

Who’s in control?
However, you can’t always control change. What you can control all the time is how you choose to respond to it.

You can also try to anticipate it. For example, as technology continues to develop, change is occurring more and more rapidly. Isn’t it safe to assume that this will continue?

So you have a choice to make. You either develop the skills to anticipate change so you get ahead of it or you just respond to it, after the pain becomes too great to do anything else.

Bigg action item – Separate the change into fads and trends
There are fads and there are trends. Fads come and go, so don’t worry about them. Trends are long-term. Get on board with them.

Divide a sheet into two columns – one called “Fads” and the other called “Trends”.  In your chosen career, think about the things affecting your industry. Now start putting those changes into the appropriate column.

What will affect your future income? Something will – for good or for bad!

Is it a short-term phenomenon? Or is it likely to continue? You can position yourself properly by seeing the change coming.

What opportunities will be created? What skills will be important? Do you have them? Can you get them?

Develop a plan for what you need to do to position yourself to take advantage of the trends.

Where do I get this information?
We’ll look at two examples. Search for the name of your industry followed by the word “association”. For example, “beauty salon association” yielded a half-dozen or so associations in Google.

You can also subscribe to magazines for your industry, or just about any industry you’re interested in following. They’re often free, supported by the advertisers. Amazon has an excellent resource that lists magazines by industry. It’s an extensive list!

So there are a number of ways to get the information you need so you can embrace change rather than begrudge it.

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Related posts

6 Factors to Help You Succeed When Opportunity Knocks

The Single Most Destructive Thought You Can Have  

(Image by bob923)