With such contrasting abundance and scarcity of money these days, it’s hard to tell what people’s legacy intentions are.
See how I started that—by talking about money. It can only mean that I feel legacy is tied at least in part to your net worth when you die. I hate to say it, but I’ve been under so much fiscal pressure for so long that I can no longer decouple money from legacy.
Anyway, the supremacy of legacy is based on 5 factors in this order (I’m totally making this up as I go):
- Your children
- The way people feel about you, including your family
- The measured impact of your work
- How many lives you’ve affected
- Your net worth
Of course, if you can hit a home run in all five categories, then I say you’ve made it. But what if you’re lacking in some areas? Granted, not everyone is going to have children, but what I’m getting at is the kind of person you are; i.e. the way you view and treat people on any level, in any engagement.
I’ve known some extreme entrepreneurs who will most definitely blow the doors off of #3,4,5, but they might strike out on #1 and 2. Let’s say they even squeak out a kid in their 40’s—can they measure up to #2?
I also know some people who flourish in the opposite: lots of kids, nice people, but professional failures (personally, I’m on that side of the fence right now, but I’ll get over the damn hump). They’ll die leaving their kids nothing but memories—that’s fine I guess but it would be much better to leave something they can build on.
Then there’s the middle: the legacy of mediocrity. You kind pull it off in all categories, but not really. You follow the rules and formulas and make a decent life for the people around you.
For the sake of great legacy, it’s better to take some huge risks and and fail than not try at all, or just play it safe.