First, there are 2 fundamental truths underpinning this topic…
Seek to be wealthy and you’re more likely to end up miserable and never ‘rich enough’.
Do what you love, follow your (feasible!) passion and you’ll be happy. And then, far more likely to be rich as work almost becomes a hobby.
Those of us working in career guidance know that happy people are more productive, have more energy and are more likeable. And all of these good things then increase how much you earn.
A mature aged worker that looks happy doing his job
A major study tracked 12,000 students who entered leading universities in the USA and followed them for over 20 years. The research proved that seeking money as your prime goal will make you miserable. Why? Because nearly always you won’t succeed in making enough.
And even if you do make ‘enough’, the research shows you’ll be only a tiny bit more content than those who don’t seek money as their goal in life.
If you focus on money, you take it off the things most likely to make you successful (and happy). So you’ll change jobs for a higher salary, not because it was a better company, or a better boss or more interesting and challenging work. Then your work is less enjoyable, and you lose some of the passion that gives you energy. This creates the paradox: Make riches your goal, you’re much less likely to achieve it.
If you want greater happiness, don’t seek what’s unattainable – be happy with what you’ve got. Like most clichés, there’s a lot of truth in it.
Job satisfaction and a good family life (which you have to work towards) will give you overall satisfaction with your life. Chasing money just makes you miserable.
I have mentored many hundreds of young adults aged from 17 to 25, and even written a book on careers just for them (Landing Your Dream Job, selling on Amazon). The biggest mistakes they make when choosing what to study and which profession…
They choose one because it pays well – think surgeons, accountants and lawyers
They study what their parents think is a great career – usually based on what worked 20 or 30 years ago. They say things like “you must study law as it teaches you to think and underpins many different careers” – I’ve heard this nonsense too many times.
Both of these beliefs are tragic, but no time to explain why in detail here. Just to note that they don’t lead to doing what you love!
These truths are fundamental and provide the framework for all the Stable and Wise advice on how to build a brilliant career.