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.
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