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Simply Living Simply

Written on July 14, 2009 by George Krueger & Mary-Lynn Foster in Money

simple_house Bigg success is life on your own terms. Today we’ll focus on money, one of the five elements of bigg success. There’s a tendency to define bigg success as having more money.

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But is it possible to have too much money?

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

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

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george 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!”

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marylynn 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.

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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!

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

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6 Paths to Financial Freedom

Save Now Without Depriving Yourself

(Image in today's post by ba1969)

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Who is More Accident Prone – Men or Women?

Written on November 14, 2008 by George Krueger & Mary-Lynn Foster in Health

accident Statistics Canada, Canada’s national statistics agency, released a report on work injuries [PDF] a while back. There were a few things we found interesting. While four percent of all workers experienced some sort of work place injury over the past year, only two percent of the women had. So guys got hurt disproportionately to gals.

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Hear George & Mary-Lynn discuss the injury report stats on The Bigg Success Show! Click the purple player: Play Now | Play in Popup | Download

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You might hypothesize that perhaps men perform riskier tasks, on average, than women. However, the research showed that men have a higher rate of injury across all job categories.

Can women work harder?

Another point of interest was that, compared to men working less than 35 hours a week, men who work eighty hours a week or more were twice as likely to get injured. Men were forty percent more likely to get hurt if they worked between 45 and 79 hours.

It makes sense, doesn’t it? The more someone works, the more tired they are and the more likely they are to harm themselves somehow. Sounds good, except that it didn’t hold true for women. There was no noticeable difference among women based on the number of hours worked.

Women who worked more than one job experienced more injuries than women who only had one job. There was no difference for men. Finally, we found one in the men’s favor!

Why do we work so much?

Seriously, though, we see that whether we look at hours worked or number of jobs, there is evidence to show that chance of harm increases.

So we wonder: Why do we work so many hours? Why do we need more than one job? In many cases, it’s because of money issues. Might we be better off looking at our budget? Would we better served by adjusting our lifestyles? Then we might not have to work so much and we might not get hurt as much.

More hours. More jobs. Still a lack of money. No extra time. More stress. All of these come into play together.

Speaking of play

Here’s another thing we found very interesting in this report. Only 28% of all “activity-limiting injuries” occurred at work. Now think about that. We spend about half of our waking hours at work, if not more. Yet nearly three-fourths of the accidents that keep us from working happen in our personal lives. What in the world are we doing at home?

The study says that most accidents that occur at work are hand injuries and lower back strain. We don’t know what the accidents are away from work. Are we straining ourselves too much at home?

Maybe instead of a “honey do” list, we should start a “honey don’t” list!

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