Stop 4: How’s my Defense?

Offense sells tickets but Defense wins championships.– Bear Bryant

Defense is the most underrated factor for success in any arena. Every team, business organization, and financially successful person has to have defense to succeed. Your offense is what helps push you forward but the defense keeps you from falling back!

If you’re climbing the treacherous mountain towards your success vision it is important to be able to focus on making progress. Your defense allows you to maintain that singular focus. Without it for every inch you climb forward there is a shift in the gravel that causes you to slip down a few inches or even a whole foot. Once you slip on that climb two things happen:

  1. The ground you were holding on to is now weaker. This makes slipping again more likely. Every time you slip it becomes more likely that you will slip again and fall further each time.
  2. You begin to doubt your ability to pull through. Once you begin slipping you overly focus on slipping again. This derails your ability to make progress and leaves you exposed to making another mistake and slipping again.

If you’re not careful these two factors will build upon one another and your feet will be back on the ground in no time.

When you see climbers they give a great deal of thought to their defense. The goal isn’t solely to not fall off the mountain. It’s to maintain the progress they have already earned! This is where your financial defense comes in.

How’s My Defense?

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Stop 3: Where Am I Today?

 

Has any one heard of Jeff Bezos? What about Warren Buffet? Bill Gates? Oprah? I could continue but this isn’t Forbes and I can only fight the money envy for so long. These people are considered by Forbes as the richest of the rich.

Of the four people I listed guess how many inherited a significant portion of their money?

Zero.

Zip.

Zilch.

These four incredibly wealthy people made their money in one lifetime and could spend the rest of that lifetime trying to spend it to limited success. But how do they judge their wealth? Is there some comedic sized money counter hidden in a secret layer that works non-stop (presumably powered by nuclear fission)? Furthermore, how is some magazine finding this out? It’s hard to imagine Warren Buffet bragging about his wealth while munching on an Egg McMuffin.

how-the-stock-market-decides-warren-buffetts-mcdonalds-breakfast-every-day

How did you get in here?

 

Forbes and everyone with an internet connection knows these astronomical numbers because they are not tracking their cash; they are tracking their Net Worth. By tracking their purchases of appreciating assets they can track their estimated Net Worth. Net Worth is the single most important number in your financial picture! It’s the financial scoreboard that lets you know how you’re doing. Seems important right? Than why do so few people even know their number!?!?!

Do you know yours?

 

Where Am I today?

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