#201: Success Is Sometimes Late To The Party [WOYG Podcast]

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Success is a damn diva. It tells you to wake up early, work hard, and practice faith- all with no guarantee Success will ever show up to acknowledge your work. And oh yeah – go to bed early so you can wake up and do it all again tomorrow.


How much of this sass can you handle from Success? Will you keep the music playing, the fruit punch cold and the DJ spinning music even when the guest of honor hasn’t even given word she’s on her way to the venue?

Today’s show explains why Success doesn’t always work on your schedule – but you better adhere to hers.

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  1. Make it a party worth attending, so success knows that’s where it’s happening. I’ve got to show up there.

    This is about keep working until you reach your goals. First you have to know your purpose, then you have to know your goals, then you have to know what success looks like, She could already be there and you wouldn’t recognize her otherwise. Imagine that, she was there all along, captured on cctv at the party but you ignored her, so she left.

    Harrison Ford has said, after the success of Star Wars and how he felt about it, “Great, now I can go to work” Kathy Bates said something similar after winning an oscar for her performance in Misery, asked how she felt now she had success, think it went something along the lines of Got to keep baking the cakes. Success isn’t a one shot thing, if it is you’ll be back to where you started…unless that’s your goal.

    Make 10 million and live off it for the next 60 years. Actually I’m not sure that would last, if you just had 10 million to last 60 years with no interest and no other income, it sounds like a lot but inflation over the years would eat in to it. Just checked, it would last if your outgoings were 60’000 or less per year, with 3% inflation. Anything more you’d need more cash or an income from the original money, all got to be planned for so when success shows up, however you define it, make sure you pay attention.

    60’000 today with 3% inflation would be 343’200.18 in 60 years time.

    Another great episode Dre. Always appreciate the content.

    • Just as a side note, and for those who are interested, I’ve worked out that a 50 million net worth is the minimum for a financial legacy. You can do it for less, depending on your outgoings and how much income you can get from your investments, but this is what I’ve found.

      This is based on 100’000 income per year. With a 12% return on your 50 million net worth. Note after taxes etc, I’m UK based so may differ in other countries, your return will be 6.72% and based on having your investments in a LTD Company.

      100’000 would last just 94 years at a 10% inflation rate. The same amount would last 218 years at a 7.5% inflation rate. Now this is where it gets interesting and this is why I believe a 50 million net worth is a financial goal worth going for. 100’000 would last 10’000+ years at a 5% inflation rate in fact you could have an income of up to 855’000 and still have it last 10’000+ years. Now over the years inflation has been on average 3% per year so you could take a 1’850’000 income and it would last 10’000+ years.

      Disclaimer: I’m not a financial expert, do your own research but thought it’s a good jumping off point. The money is just based on figures, it would depend on the investments you made, the amount of return you can get, how you and your family invest the money in the future and things staying fairly similar to now. It also depends on your outgoings. Something worth thinking about.

      http://www.buyupside.com/calculators/withdrawalsdec07.htm this is the calculator I used. It’s in dollars but can be used as a rough guide.

    • Thanks Colin. I like your point about making the party the party that draws attention.

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