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.
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 877.988.BIGG(2444) or e-mailing us at email@example.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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(Image in today's post by ba1969)