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SFB057 Design and Build Your Life In Order — Sufficiency Surplus Superfluence

| March 07, 2017
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Episode Summary

Paul Adams discusses the difference between living a sufficiency, surplus, or superfluence lifestyle, and what kind of numbers you need if you were to fall into one of these three categories. There’s nothing wrong with living a lavish lifestyle, but make sure you have enough funds on your balance sheet to sustain you.

What Was Covered

  • 02:05 - What tends to happen when people are trying to financially plan for their future?
  • 04:45 - Taking on more risk in hopes of great returns is not a strategy.
  • 06:00 - There are three things you need to be aware of: Sufficiency, surplus, and superfluence.
  • 07:00 - What is ‘sufficiency’?
  • 08:45 - What is ‘surplus’?
  • 10:15 - What is ‘superfluence’?
  • 13:40 - You’d be amazed at how much you’re living in surplus.
  • 15:00 - For the sake of this conversation, superfluence is $20+ million in net worth. What would that life look like?
  • 16:20 - How much does your sufficiency lifestyle cost?
  • 18:10 - No matter what lifestyle you’re trying to strive for, you must always have sufficiency, your bare minimums, met first.
  • 20:15 - How much money do you need to be in sufficiency, surplus, and superfluence? Let’s do some math!
  • 23:55 - Look out for a Youtube video by Paul and his team titled, ‘When $22.5 million isn’t enough.’
  • 27:20 - When you don’t know your numbers, you are at risk of jeopardizing your future.

Tweetables

"Hope is not a strategy by itself."

"Hope is what you do after you’ve done everything else you can do."

"[Business owners and executives] We can’t predict what technology will take us out."

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