• 02:45:14 am on September 30, 2008 | 7

    AJC’s List

    I hope that you are all making progress with your “Lee’s Lists” … I would LOVE to see 7,000 of them posted here [AJC: Lee, what a great concept for your first book/website] …

    … the more I think about it, the more I think [thanks to Lee] that this little exercise will be one of the keys to how you think/act/achieve in the future … no pressure though ๐Ÿ˜›

    I also think that you should take this opportunity to try and roughly ‘cost’ EACH ITEM on the list … again, where there is a choice as to how you might approach each item, choose a cost that is at your MINIMUM ACCEPTABLE STANDARD i.e. don’t settle for less … equally, I advise against pushing for more, at this time.

    Keep in mind that this standard may be different than what you would accept TODAY, but less than what you would like to have if you won the New York State Lottery tomorrow … or may be EXACTLY what you would choose if you won the New York State Lottery – that is entirely up to you!

    Again, all I can do here is advise process … it’s YOUR life that you need to live, not anybody else’s.

    But, if I were to do a Lee’s List for myself (casting my mind back to 1998 when I developed my Life’s Purpose) it might look a little like this:

    My Life’s Purpose: To be constantly traveling … mentally, physically, and spiritually.

    To achieve this I think I will need the following:

    1. ‘Physical Traveling’ – for now, simply means 4 to 5 international trips per year: business class (I am old, spoiled and soft … and, only marginally less so back in 1998), 3 to 4 star hotels @ $12k per trip = $55k p.a.), PLUS

    2. Time to travel virtually ‘at will’ (subject to family commitments … young children to think of) – means replacing my active income with passive (I’ll take another look at lifestyle later)

    3. Money to invest in ‘creative ventures’ – could be business ideas, inventions, or just plain indulging my ‘left brain’ย  i.e. ‘Mental Traveling’ – (I anticipate 10 – 20 small ‘ventures’ @ $50k – $100k each; after then, I will presume that at least one venture will be business-based and will succeed in replenishing this ‘fund’, hence $1 million as a ‘once off’ is probably required).

    4. ‘Mental Traveling’ – Write books/blogs/etc. to explore/promote my ideas – (most of this cost is already in 1. and 2. with a bit of capital from 3. should suffice, so no additional cost for me here)

    5. ‘Spiritual Traveling’ is a ‘no cost’ exercise for me – other than travel (incl. in 1. and 2. then) and free time to ‘meditate’ (free time that I will ‘buy’ with Passive Income to be determined later).

    6. Supporting Lifestyle – cost to be determined. Although, I can see from the above that I will need to at least replace current Active Income with Passive Income then add whatever Lifestyle Improvements that I would expect – at a MINIMUM

    I guess I haven’t been very concrete in exactly what I am going to do to achieve my Life’s Purpose in terms of actions/people/places/possessions …

    …. but, it seems to me that all I really need to satisfy my Life’s Purpose is:

    – TIME to indulge my three very selfish (mental, physical, spiritual) desires and

    – A bucket or two of money for travel and to develop the ‘mental’ part of my Life’s Purpose

    … pretty simple, but expensive!

    The point is that just from this I can already see that I am going to need ($50k x time-based inflation factor x 20) + $1 Million, so that’s ‘only’ a couple of million BEFORE I even consider Cost of desired daily lifestyle / houses/ cars / kids / college / etc., which we will (re)calculate in the next step.

    As you can see, your Lee’s List need not be a long/detailed list, but I feel better for having written it … I hope it helps you. Please feel free to share yours ๐Ÿ™‚

     

Comments

  • Diane 5:27 pm on September 30, 2008 | #

    Adrian, I like how your list is short. I recalculated my numbers last night and came up with the same $8-$8.5M needed in 5-6 years. I revised to six years as that is probably more realistic in terms of total – my sons are out of high school by then and my cash needs can be reduced by eliminating a certain calculation that goes into my monthly obligations. Otherwise, leaving it in wanted for another $2M it seemed…!

    Work has EOY close-out of our contracts to a customer on-going, combined with team meetings to get going on the next year’s project(s) and a review of lessons learned. All of which require me to show up at work. I am also trying to pack, have a garage sale, then “git” to NC (comment for Mark) the following weekend.

  • AJC 8:56 pm on September 30, 2008 | #

    @ Diane – …and get started on making $8.5M in 6 years! Guess you’ll be busy ๐Ÿ™‚

  • Scott 4:58 am on October 1, 2008 | #

    @ Adrian – It’s interesting, my list on paper looks so similar to yours that it’s funny actually. The only difference is that I want to actually see patients in other parts of the world that can’t get good patient care and do this several times per year for free for them as part of my ‘helping others’ purpose, in additionally to possibly running a clinic for those who can’t afford to pay and have no health insurance(trying to work out the details on that one). The other ‘helping others’ part involves a lot of free time to write and teach others, teach seminars etc…

    But the rest of my list looks almost identical to yours.

    I guess I should have stated in my purpose statement that in addition to having the physical, spiritual, emotional and financial FREEDOM to help others, that I still need to travel physically, mentally and spiritually for myself! lol

  • AJC 8:19 am on October 1, 2008 | #

    @ Scott – I think we’ll see an interesting variety of lists, although I suspect at least one or two more will look like (now) ours … no right answers here ๐Ÿ™‚

  • Lee 9:43 am on October 1, 2008 | #

    Some of the difficulty in placing a $$ value on our “Life Purpose” is because it is a living, breathing concept. It’s not a “still photograph” of what we want but rather a “motion picture” of what we are becoming. It won’t stay still long enough for us to accurately define it in a concrete fashion. The best we can do is clear a path on which it can travel.

    It’s the path that has a $$ value.

  • Mark 8:52 pm on October 1, 2008 | #

    @Adrian – I’m finding it more difficult to “cost” the items on the list given that things will change. For example, I can live in hostels and travel in economy now but as we grow older, we would like to be more comfortable. Do we cost things for the present or the future as well as we did in our “Number” exercise? I do know flying in business and first class is a lot nicer and you get to talk to interesting fellow passengers too. Regardless, having a list will help define us work towards them.

    @Diane – Welcome to NC!

  • AJC 9:23 pm on October 1, 2008 | #

    @ Mark – Cost what’s a “necessary” part of your Life’s Purpose … at the standard that you think you will NEED then, but in today’s dollars (for now).


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