Is chasing money really a distraction from success? Chasing money can be a distraction if you're not in control of your own life and destiny. Some people have money but still can't say they're successful because the job or the business runs them. They're like an employee in their own business. They have a lot of money and cars and houses, but they can't take a vacation. For us, success is about the freedoms the money gets you, not the dollar amount itself.
How do you know if you are living someone else's dream of success? We often shape our goals based on what we see on social media, from family members, or from trying to keep up with the Joneses. This isn't ambition; it's living somebody else's dream. When you achieve those things, you may not feel fulfilled because you were chasing an external definition of success, not your own.
What's the difference between survival and obsession when it comes to money? It's important to differentiate between survival and obsession. For someone in survival mode, success might be defined by achieving financial stability, like saving a three-to-six-month cushion. But for someone no longer in survival mode, a relentless pursuit of money becomes an obsession that can lead to burnout and a lack of fulfillment. It’s about finding balance and knowing what you're working for.
How can I define success if I'm living paycheck to paycheck? Start by setting small, incremental milestones. Your first goal could be to save just enough money to have a three-to-six-month cushion. Once you hit that, you've achieved a milestone. The next goal is to upgrade your skills to earn more so you're not living paycheck to paycheck anymore. Celebrate those little wins because they get you closer to your overall success.
Watch the full episode at https://youtu.be/cP_UvdLTDJk
and read more in THE ASCENT | 025
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