Is it safe to say that winning an Oscar is the equivalent or better of your boss giving you an “exceeds expectations” on your annual performance review?
Well, I would hope so. But that’s not to say that not winning an Oscar means that your performance review would indicate that you only “met expectations”. After-all, Bradley Cooper is getting closer to the big guy each year.
But here’s what winning an Oscar does give you? The big stage. A platform. An audience. A learning opportunity. And, a wealth building opportunity.
Here’s what I learned from the Oscar winners:
Diversify your cash flows
J.K. Simmons has done this fantastically it would appear. Not only across mediums, including TV, commercials and the big screen, but probably across pay levels too. Does Mr. Simmons earn as much in those clever Farmers Insurance commercials as he did in Whiplash? I guess not. But he’s no dummy. I bet his cashflow is steady and magnificently diversified. This is a classic wealth building strategy that will surely payoff. Which brings me to another point.
Keep reinventing yourself
That’s what Mr. Simmons has done. Right! If your self-reinvention program is not focused on creating multiple streams of cashflow, your ability to build wealth could stagnate. During the 1990 recession, the last thing companies were doing was hiring MBAs. I took a job with a temporary agency as a Financial Analyst at cents on the dollar. It paid off nicely in the long run, both financially and professionally. I wouldn’t have been given most of the opportunities in my career had I not been willing to take a few steps backwards to move several steps forward. Sometimes this is called reinventing thyself.
This was Julianne Moore’s fifth nomination for Still Alice. That means that she did not win the Oscar in four previous nominations. Bradley Cooper now has four nominations under his belt. As a recovering perfectionist, I can tell you that I would’ve wanted to curl up and throw in the towel. Don’t give up because you get knocked down a couple of times.
Ask for what you want and be persuasive
Patricia Arquette took to the stage and seized the opportunity to remind a billion people that we (women) must have equal pay! Paula Cashflow cannot pass up a moment to, well, use this to reach out to my audience. Did you see both Meryl Streep and JLo (Jennifer Lopez) cheering Ms. Arquette from the audience? I’d say that’s persuasive. If you consistently earn performance reviews that exceed expectations, don’t assume the compensation rewarded will be congruent with the rating. You may just have to pull up your socks and ask for what you want. Just do it!
Reese Witherspoon tweeted this hashtag out during the Oscars. She didn’t want interviewers to be focused on her choice of dress or which designer she was wearing. Hooray! This is a celebration of artistic talent. Not a fashion contest!
Love. And love unconditionally
Say no more about The Theory of Everything.
Because it’s about life and how you live it!
In the spirit of financial well-being,