by Odahh
21 replies
hello all,

the lazy way to define success sees to be t point at a financial marker of say a million dollar net worth . but the average age the typical person is when they hit that marker is 58 for woman and 59 for men . the typical way people accrue that net worth . is saving about 25 percent of their income every year . and buying and holding prices of real estate for 20 or more year outside their primary residence . so 30 plus years of saving 25 percent of their income starting in their 20's pr right about the age of 30 .

but a majority of people with the million dollar net worth cannot stop working if they wanted to . that million is not enough to live on for long and can disappear quick with one health crisis. and in high cost of livving areas you may have a few pieces of rental properties but that million dollar home might only be able to be rented out for 3-4 thousand a month .with all the costs that go with it so you might not be clearing a lot of income from those .

now my definition of success on the financial realm life is having assets that generate adequate income or tax write off to support your preferred standard of living . i came to that definition about 2 years ago when that book capital in the 21st century was in the news .. and the main line of all the people who hate everyone richer than them was . well the 1 percent get most of their income from their wealth which is taxed at far lower rates than work income .

but another thing i have learned in the last few years is why so many people don't or can't build wealth . low value skills,incarceration, parole, probation, drug addiction , alcoholism, divorce, child support . crippling back injuries. etc

even people with high value skills run into trouble finding work if they have a felony and jail time .and d.u.i's are cash cows for state and local governments .

so

What is success . this is my definition and i will not put any hard numerical point . outside percentages .even though 57 percent of the population or more can.t figure out percentages without charts .

finacially you live comfortably on 20 to 30 percent of your gross income and save /invest everything that doesn't go to taxes . and you earn you money in a way that you don't depend on prescribed medication, illegal drugs .or large amounts of alcohol to get through the day or out of bed in the morning . and you can maintain this for 10 ,20 ,or 30 years .

the people i have seen who made it work the best invested in assests that had to do with the way they earned their main income .
#success
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  • Profile picture of the author Kay King
    Another thread generalizing 'what people do' and excusing 'what people don't do'.

    If you commit a felony, chances are someone else was harmed in some way. If you get a divorce you have to start over. If you have children, you have to pay for them.

    The more mistakes you make - the harder it is to come back from them. You can excuse substance abuse and all sorts of problems - but no one else can solve them for you. We don't get do-overs - but we can have make-overs.

    Or we can use excuses. If you aren't likely to be part of the 3% - what's the point in worrying about what the 1% do?

    If I make it sound easy - I know it isn't. I've had to start over from the bottom more than once in my life. It's my choice NOT to stay at the bottom but the climb can be damned hard. In the end, you do it or you don't - it's your one life and you get to decide how it goes.
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  • Profile picture of the author Odahh
    Key I agree with what you said .

    I think a point where our views differ is I believe a lot of success or wealth building is based of learned behavior . So you identify the behaviors and learn them but it takes time.

    I am not sure you may believe otherwise .

    Wealth is not the same as intellectual ability .we can't get a dumb person to model a really smart person and become much smarter . If it was all based on natural ability.not a lack of education.

    But someone in poverty can learn the behaviors they can start learning to do today and learning to stop doing .that will lead to them building wealth over the next 10,20 or thirty years .

    That is the common thing left out the timeline . When starting from the bottom with nothing .no family.no connection,,behaviors that need to be stopped others that need to be learned,skills one doesn't have that need to be learned.

    It harder to stay at the bottom than put in the work to climb . Well once one develops a feeling of personal disgust at being on the bottom. That is a whole other topic .

    In one hand you need gratitude in the other disgust .
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    "I just wanted a good job ,but i could not find a good job, So i do it myself"-Jack Ma

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  • Profile picture of the author Just Jess
    Success is living in the now.
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    • Profile picture of the author savidge4
      Originally Posted by Just Jess View Post

      Success is living in the now.
      There is a whole lot to be said for this... success is built over time, with the actions of today. Its not even about the dollars... it doesn't matter if you put money in the bank today or 100 or none at all. And in this is the issue... Success in general is measured in dollars and cents... and I would suggest it needs to be measured in the education of today that will later in life produce the dollars.

      It is an absolute shame that most people start developing wealth when they hit their 20's or 30's or 40's... and again I am NOT talking about dollars. As I literally sit here this evening doing my 11 year olds taxes ( oh the pleasures of being a father LOL - I don't just do my own, I do my kids - wow ) His future wealth has NOTHING to do with the money put away in trust this year... it has EVERYTHING to do with the education and the doing that put the money there.

      If he is "successful" at 11, what does that look like at 20? at 30? at 50? I grew up with side hustle from an early age myself, but I didn't have the level of education my son has. ( and we are NOT talking about public education type education LOL ) Its the development of skills that produce capital, that are what should be measured in terms of success.

      Savidge5 is working on creating videos of him and his buddies playing video games - THIS is his long term objective - So he captures the game play. He edits the game play. He composes and plays and records background music to put behind his edited videos.. He is currently learning how to edit graphics for video artwork etc... when he hits 13, when he can "Legally" post videos on YouTube and "Legally" stream - watch out LOL

      Again the education TODAY is what creates the wealth over time. And we as adults that grew up in an environment that is traditionally flip flopped from that line of thinking, STRUGGLE with the idea that The Hustle is NOT about making dollars but learning today to be smarter tomorrow.

      Education in context is what creates wealth.
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      Success is an ACT not an idea
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  • Profile picture of the author spartan14
    For me the succes its the point where i have enough money for me to live free and travel around the world or spend time with my family and dont worry that i need to go to work .You dont need to have milions of dolars to be happy
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    • Profile picture of the author Odahh
      Originally Posted by spartan14 View Post

      For me the succes its the point where i have enough money for me to live free and travel around the world or spend time with my family and dont worry that i need to go to work .You dont need to have milions of dolars to be happy
      Do you have hard numbers for when enough is . No one ever seems to get enough . Or they stop and go live in the woods or join a monestary.


      There is a good reason I focus my success at first finding a way to make money you enjoy ..and a disdain for retirement .

      Do you enjoy doing the thing you do with most of your waking hours or does it make you dream of that Tim in the future when you get to stop doing it and do things you want to do with the day
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  • Profile picture of the author Odahh
    savidge

    From a few years ago when I had no idea what wealth was . Outside the limited notions of stock market or rental real estate.

    The education I have had to go hard core into exploring is what wealth is .or the many types of wealth and the increasing nu.ber of ways to monitize wealth.

    I don't think net worth matters as much as it once did .someone can have 2 million dollars in net worth but it's not producing much income. Or a small amount of interest.

    You can probably take a 10,000 dollar piece of raw land .build a few green houses for say 7,000 a piece or less .and build a million dollar a year buisiness from it . Wait I think you said 8 figure.

    Now is one of the best times in history to start from scratch if one has to.

    It takes getting rid of many industrial age concepts though .like retirement .
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    "I just wanted a good job ,but i could not find a good job, So i do it myself"-Jack Ma

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  • Question is ... for whom?

    We could mebbe all aspire to be sumone like, I dunno, Gary Vaynerchuk -- mebbe bcs he rockin' out on cash, kudos & contemporary charisma.

    But that would mean you gotta be ... Gary Vaynerchuk.

    An' tbh I got no desire to leap around like a gimp peeled quicker than a leg wax.

    Plus, shavin' under my arms is kinda tedious; plz don't say I gotta do this to my face also.

    I am perfectly sure that Gary Vaynerchuk is enjoyin' success on his terms -- an' I genuinely wish the guy the best of luck with all that schwango.

    But I don't wanna do all that stuff bcs it ain't Moi.

    An' I would nevah wanna diminish musself in terms of success by usin' Gary Vaynerchuk as any kinda aspirational wanna wanna.

    Same as the Williams sisters.

    Hey, if'n I wanna max out on their kinda success I gotta lose my writin' hours to followin' a ball bongin' all ovah, an' trash all my favo skinny frickin' jeans.

    Perhaps it is the curse of idiosyncratic mortality, but I figure success don't come ready made offa the peg.

    Same as you can't cast pearls before swine with zero kinda uptake, so eternal promises of soulful grandeur ain't worth nuthin' when you chilled out af in a pool fulla mud.
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  • Profile picture of the author Diego0
    for all of us is different as for me its have plans for future and do everything possible do make it for real . success on of the way to make it possible. so to all of us good luck.
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  • Profile picture of the author dougbalooka
    really? Seriously?
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    • Profile picture of the author DABK
      Really and seriously.
      Truly, too.

      What are you even talking about?

      Originally Posted by dougbalooka View Post

      really? Seriously?
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  • Profile picture of the author proteresa
    Seriously!!!
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  • Profile picture of the author Jonathan 2.0
    Interesting question: Thanks Odahh. : )

    In terms of financial/money success, I think that if a Person has enough income to support all their needs -- and the needs of their Family ― while also having enough to put aside some savings (and maybe investments) ... That could be considered "Financial Success."

    And why not? Many People are literally homeless and living on the streets. (I'm not saying People shouldn't aspire to achieve more however ...)

    As for "success" in general, I think when a Person reaches a place of ... Happiness, contentment, and fulfilment ... That = Success. And it can be doing anything. The problem with many People is that they have a lot of fear (and negative "associations") about money.

    Sometimes a "reprogramming"/re-thinking of "beliefs" (etc.) can be helpful.
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    "Each problem has hidden in it an opportunity so powerful that it literally dwarfs the problem. The greatest success stories were created by people who recognized a problem and turned it into an opportunity."―Joseph Sugarman
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  • Profile picture of the author Claude Whitacre
    I think the idea of "Success" is totally subjective.

    If you're a drinker, and you're now sober...many will tell you that you're successful.

    If you lived your life broke and hungry, and now you have a roof over your head, ad maybe a car...you may think you are successful.

    Some people equate success with the number of children they have, something they collect, some outside goal they have...some level of comfort.

    Personally, I think the word "Success" is pretty meaningless. I've never felt like I've achieved anything, no matter what I did. I just get results from my efforts.

    The same with "Failure". It's hard for me to understand what someone means when they say that they are a Failure.

    let's say I was going to be a stand up comedian.

    If I never tried to get on stage, am I a failure?
    If I got on stage once, but bombed...am I a failure or a success?
    If I made enough money to survive, and spend my time with friends...is that success? Failure?

    If I became world famous, but knew I could be better at my craft...am I a success? A Failure?

    It's all strange to me that people think like this.

    "Perfect" is another word I never understood. How tall is perfect, how much do you weigh? If you are perfect, how strong are you? What's your IQ? How long do you live? How fast can you run if you are perfect?

    What does a perfect painting look like? Perfect features? Perfect technique?

    When someone says "Well, I'm not perfect", it's so tempting for me to ask what they mean exactly.

    Humans.
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    • Profile picture of the author DABK
      Height: 5'6"


      Weight: 192 LBS


      IQ: 118


      Alive: 141 years and 3 months


      Speed: 6 miles in one hour.


      There! Now you can sleep easy at night.



      Originally Posted by Claude Whitacre View Post


      "Perfect" is another word I never understood. How tall is perfect, how much do you weigh? If you are perfect, how strong are you? What's your IQ? How long do you live? How fast can you run if you are perfect?

      What does a perfect painting look like? Perfect features? Perfect technique?

      When someone says "Well, I'm not perfect", it's so tempting for me to ask what they mean exactly.

      Humans.
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    • Profile picture of the author Reddevil007
      Originally Posted by Claude Whitacre View Post

      I think the idea of "Success" is totally subjective.

      If you're a drinker, and you're now sober...many will tell you that you're successful.

      If you lived your life broke and hungry, and now you have a roof over your head, ad maybe a car...you may think you are successful.

      Some people equate success with the number of children they have, something they collect, some outside goal they have...some level of comfort.

      Personally, I think the word "Success" is pretty meaningless. I've never felt like I've achieved anything, no matter what I did. I just get results from my efforts.

      The same with "Failure". It's hard for me to understand what someone means when they say that they are a Failure.

      let's say I was going to be a stand up comedian.

      If I never tried to get on stage, am I a failure?
      If I got on stage once, but bombed...am I a failure or a success?
      If I made enough money to survive, and spend my time with friends...is that success? Failure?

      If I became world famous, but knew I could be better at my craft...am I a success? A Failure?

      It's all strange to me that people think like this.

      "Perfect" is another word I never understood. How tall is perfect, how much do you weigh? If you are perfect, how strong are you? What's your IQ? How long do you live? How fast can you run if you are perfect?

      What does a perfect painting look like? Perfect features? Perfect technique?

      When someone says "Well, I'm not perfect", it's so tempting for me to ask what they mean exactly.

      Humans.

      Food for thought surely!
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  • Profile picture of the author Odahh
    Claude .

    It hard for other people to make a lot of money off that kind of success .

    You mentioned a while back maybe a year or more at one point your store hit a point where you could have grown or doubled the revenue but it would have meant a lot more work and less money in your pocket .

    Someone could have five stores 50 employees 20 million in revenue and be taking home less than you where. You probably have a few real hard number examples of something close. Where if they where making more you passed it with a few speaking gigs .

    Or they had a few employees nearly taking home as much as them.

    I'm predicting the biggest hit taken with the rise of a robotic work force .won't be taken by the workers .but by the egos of business owners who now only have or need five to ten people to run the robots that get the same production it took hundreds of employees before .

    The lower wage line workers getting replaced will find other lower wage jobs .it the managers and human resources and other staff that will no longer be needed .

    All the veriables for what could be pointed at to say you where a success in the latter part of the industrial age .now are getting blown up .
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  • Profile picture of the author TobiMDD
    success is when you are happy with what you have and don't want more...so the question would then be...is this even possible to not want more? my own definition makes me wondering haha
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    • Profile picture of the author natostanco
      Originally Posted by TobiMDD View Post

      success is when you are happy with what you have and don't want more...so the question would then be...is this even possible to not want more? my own definition makes me wondering haha
      Indeed. I feel that humans can never truly be happy as we are a species that will see something and want it more than what we have. It's just nature.
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      • Profile picture of the author Odahh
        Originally Posted by natostanco View Post

        Indeed. I feel that humans can never truly be happy as we are a species that will see something and want it more than what we have. It's just nature.
        I have felt with bad depression through my life. As I have identified triggers that bring on or make the depression worse .and it is far beyond and more complex than just chemical balance.

        The more I remove the triggers or adjust for them .the easier it is to be happy or do things that result in happiness . For a time

        Rather than tryinging to chase happiness aim at removing the sources of stress and missery from your life.

        Instead of suffering through them using them as a badge to explain to others why you are worthy of those brief periods of happiness..before you plunge back into suffering of day to day life
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      • Profile picture of the author cheese1688
        Originally Posted by natostanco View Post

        Indeed. I feel that humans can never truly be happy as we are a species that will see something and want it more than what we have. It's just nature.
        Success could also mean being happy with what we have. Not everyone wants the biggest and best. Some just are happy with inbetween or less.
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