In my new video interview with Jaime Tardy (EventualMillionaire.com) I talk a lot about finding your Life’s Purpose. Now, here is an even stronger argument for finding your Life’s Purpose before working out your financial plan …
Note how the philosopher, Alan Watts, suggests that if you do what you love, the money will follow!
Failing that, do what you need to, but only for a short period of time, so that you can put aside the money that you need in order to do what you want. That’s why I came up with my original ‘$5 million in 5 year’ target (that eventually became $7 million in 7 years, achieved) …
What would you do if money was no object?
Alan Watts asks the right question but gives the wrong answer. “Do what you love and the money will follow” is really really bad advice – think of all the writers, musicians etc who struggle to make a living – even those who are very very good at what they do.
Your approach is much better.
If money was no object I would be spending a lot more time writing, exercising and improving my photography skills and probably signing up for a degree of no economic value whatsoever …. which is exactly what I intend to do when I “retire” in the middle of 2013.
This is a great post and more people should ask themselves this question. We asked ourselves the question 5 years ago of what we would want to do if we had unlimited money.
We wanted to sleep at night without worrying about how to pay our bills. I wanted to become a serial entrepreneur and Mr. Goldeneer wanted to go back to school. We set up our saving and investment priorities to achieve those goals quickly. Although our goals are changing, we live our life purposefully.
I agree with you that money doesn’t necessarily follow one’s path. There needs to be a concrete plan on how to successfully raise funds to achieve one’s goals.
Such a perfect video. In my opinion, every student out of high school ought to think on this very hard before ever even going to college. All too often, young adults go to the rat race of college, work, retire, and think there’s nothing other than that to do.
If every person truly sought their passion first, and let their work follow, just as Alan says, the money will follow.
Money won’t matter if you’re doing what you love.
It does seem like a nice thought that doing what we love is sufficient to be excellent at what we do and then money will follow. Unfortunately that ignores the reality that most desirable professions are also the most impacted (generally speaking, though there are exceptions) such as musicians, writers etc. Realistically, your frame of mind is more practical.
Personally, if money did not matter, I would travel the world and write reviews and publish books based on my encounters with new cultures etc… Until then…
@ Timothy – … until then, work on building up enough in passive assets to allow you to stop work and “travel the world and write reviews and publish books based on my encounters with new cultures etc”?
Pretty much my plan (now, mostly successfully, executed) in a nutshell 🙂
Also, if you’re looking to work solely in your passion-field, find a way to incorporate a monetary gain into your daily activity. I’m sure there are a few passions where people are destined to make no fortune, but most things out there have some sort of avenue to create revenue…just have to be creative!