Investor/Landlord · Farmington Hills, MI · Member since 2011 · 1k+ posts · 1k+ votes
When I scroll through this forum I see lots of stories about the first deal or the tenth. The profit on this deal, the addition of a new unit. Turning a bad deal into a good one. Those are often wonderful stories and can be inspiring but is it success? What is success? How do you measure success? How do you know when you are on the right path?
To me success is the freedom to do what I wish and having the means to do so. I knew I was on the right path when I took a month off when my daughter was born. (My wife actually resumed work a day before I did but she always seems to recover faster than I do.) When I could go a couple months without setting an alarm clock I knew I was getting closer.
to be honest I believe success is being happy. Don't think it's just financially. I mean if you are happy and love your life no matter how wealthy I think you've reached success. There are many wealthy people who aren't all that happy and many people with a lot less who love their lives. So I ttilt believe it's being happy. Whatever that means to each individual.
I'm a captain of an offshore supply vessel. Love my job. Love the area I live in. Love my house even though it will be sold to start investing. I'm still working towards my success. I'm close and moving in the right direction just not fully there yet. Lol
to be honest I believe success is being happy. Don't think it's just financially. I mean if you are happy and love your life no matter how wealthy I think you've reached success. There are many wealthy people who aren't all that happy and many people with a lot less who love their lives. So I ttilt believe it's being happy. Whatever that means to each individual.
I'm a captain of an offshore supply vessel. Love my job. Love the area I live in. Love my house even though it will be sold to start investing. I'm still working towards my success. I'm close and moving in the right direction just not fully there yet. Lol
Wow, that's great question for a forum like this. People can set all kinds of goals, meet them, and still not feel like a success. Other people can feel successful and empowered from the get-go and can celebrate every small achievement; I think those folks are the lucky ones, really.
You can also meet all kinds of goals and feel good about it but always have that "yes, but..." in the back of your mind about how you could have somehow done it better, faster, more efficiently or elegantly. That's me, for the most part (unfortunately). So you end up never quite completely "there" in terms of success.
@Account Closed are both right absolutely right that the learning to be happy and content is the real success. It comes more naturally to some than to others, but those really are skills that can be learned. I have a bit of a predisposition to unhappiness, but I've worked hard at changing my thinking and habits over many years and I am very proud of my success in that regard, even if there is still quite a way to go!
Being a guest on not 1, but 2 BiggerPockets podcast where I get to yell at @Brandon Turner about doing everything wrong - that's success baby...! I know I've made it :)
Success for me would mean freedom. I believe holistically success for me would be to peak in mind, body, and spirit interaction. To have total control of one's self i.e. discipline for me. To continue to set goals and reach them, but ultimate happiness for me is the freedom to attend all my child's games, plays, and being able to create something to pass it him. Ultimately, success for me would be continually peak at each of my titles : father, son, day trader, real estate investor, entrepreneur, and mentor. I feel like if I am peaking at all of the titles in my life I would be successful.
We have the ability to design our lives. Many of us feel like we are subject to circumstance and luck. Like we are victims.... But, we are not. Our frame of mind dictates our life. We have control.
Fear is one of the biggest obstacles to overcome. Our lack of confidence is another. Once you get past those items, you are successful.
If you do not want to work for someone else, then you are successful when you quit and don't have to go back.
If you want to live the life of luxury, then you are successful when you have those riches.
If you want freedom, then you are successful when you can do what you want.
Great topic! I believe success is not a destination. It is not an endpoint or one single land mark or even one single event that transpires. Success is a journey and I believe once you have made the DECISION to be successful, you are indeed a success. Failure is a way of life. We will never be perfect. We can only aspire to reach perfection, and that is why deciding to be on the path of success makes you successful.
One of my favorite books is by Napolian Hill called the Master Key to Riches. In this book he explains 12 different riches in life and money is not the only key to riches, but your attitude, the company you keep and many other things determine if you are rich in life. I say this because it is hard to consider yourself successful if you first don't make the decision to have a positive mental attitude. It is hard to stay on the path of success if your negative all the time!
Great post and well-timed. Success, I suppose, is a bit of a mind state. Am I successful at REI? Well, I have 2 properties and working at optimizing them and rolling at least one of them into a MFH down the road. I'm a success compared to someone who hasn't started or just getting interested. Looking at some of the very knowledgeable folks on this forum, I realize how much there is to learn. Success is an interesting metric. To me it was also a success this week to delve deeper into my taxes, admit I didn't know what I was doing, and get a CPA to amend my mistakes. That's a success given I've resisted it for awhile. That's not a success if I'm CPA/tax expert and let this happen.
So there's multiple ways to measure success. Success for me today is directly proportional to my ability to be honest about my weaknesses and seek out those to help me. This is certainly the case in REI as well as many other aspects of my life. Admonition of my deficits is the key for me today!
When I scroll through this forum I see lots of stories about the first deal or the tenth. The profit on this deal, the addition of a new unit. Turning a bad deal into a good one. Those are often wonderful stories and can be inspiring but is it success? What is success? How do you measure success? How do you know when you are on the right path?
To me success is the freedom to do what I wish and having the means to do so. I knew I was on the right path when I took a month off when my daughter was born. (My wife actually resumed work a day before I did but she always seems to recover faster than I do.) When I could go a couple months without setting an alarm clock I knew I was getting closer.
What is success for you? How do you track yours?
Jeff:
One measure of success could be the freedom to philosophize on the meaning of success ;-)
I too tend to value freedom and flexibility more than a concern for success ... or perhaps that's just my metre.
Having enough money to enjoy life & help others enjoy life is success to me. I work so hard just so I won't have to work at all one day.
I want to go on random vacations because I caught a good flash-sale on JetSetter. I want to be the parent volunteer on every school field trip and the PTA parent-of-the-year. I want to have spa days whenever I feel like it & afternoon brunches with equally successful friends/colleagues at jazzy restaurants. I want to organize and host big, fancy charity balls with $10,000 VIP tables & a red carpet where CEOs take pictures with the big check their companies donated to (insert NPO).
Having the means to do those things without ever worrying about how many hours I'll have to work to replace the money. That's success to me.
Being a guest on not 1, but 2 BiggerPockets podcast where I get to yell at @Brandon Turner about doing everything wrong - that's success baby...! I know I've made it :)
I see @Brandon Turner posted in the opposite forum those same two episodes as recognition of his total failure!
To me, success is a goal that should be set internally and not measured against others. I measure my success by the financial and emotional prosperity that I derive from the planning, preparation, and positioning of myself for the eventual "lucky" moments in life. Turning these lucky moments into success is what allows me to have the financial and emotional freedom that I crave.
For me success is a combination of being happy and money.
I find what I think is success is always changing. For a while I want to get a job that used my major that paid the bills along with a side business to fund my hobbies. I got that but realized I was not very happy.
Now I think success is making my side business a full flege business that is all I do and no longer have a 9-5 job. I think to do that I need to use a combination of investment rentals and my business of selling parts online.
Even if I reach this level of suceas I know I will always want to grow and do better.
It looks like part of the question is how did you know when you got there? It was simple. I quit my job 15 years ago and never went back to work for anyone.
Success for me is when the mission is accomplished. God has a purpose for all and when its to provide "safe, affordable, well maintained housing", that's it!