Is money the only measure of success?

measures of success

This time of year, I tend to reflect on my accomplishments and goals. I note what I did well and what I need to improve on in the future. I often think about my parents, their success, and the impact they had on me. I lost my mother after six months of illness, and her death left me struggling with grief, loss, and emptiness. Every day, I still feel her presence in my life, along with the presence of my father who died earlier.

As the new year approaches and I’m updating our personal portfolio and other investments I manage, I’m wondering,”Is money the only measure of success?After all, my parents were moderately financially successful, but my parents were wealthy beyond their net worth. Sometimes I have a hard time separating my worth from my net worth! I also wonder, “Is money the true measure of success?”

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As I also get closer to the end of my life, rather than the beginning, I think, “Why is money the most common way to judge success?”

How to measure success?

Look, I know we all espouse various measures of success. However, I encourage you to consider all of your qualities, not just those related to money and financial matters. In fact, I regularly meet people who are doing amazing work in activism, social justice, the arts, media, and community service. I don’t know if they are rich. In fact, I don’t care. Try to look deeper at yourself and others, and allow your self-judgment to broaden and include more of what you bring to the world.

There is more to you than just your net worth. Take the time to evaluate whether wealth and success go hand in hand.

Ask yourself, “How is success measured to you?” and “Is money the only measure of success?”

money and success

Money does not equal success.

The following is an example list of successful characteristics and values:

• Give back to society and contribute to society
• Be a good parent, neighbor, and friend
• Donate to charity in formal and informal ways
• Community volunteer service
• Practice unremitting efforts
• Exercise and physical fitness
• continue learning
• Enjoy design, art and creativity
• Do your job and appreciate the service you provide to others

I’m sure you have your own list.

But do you put too much emphasis on financial success? Do you believe money and success are the paths to happiness?

Do you think money can buy happiness?

For you, is money the only measure of success?

Think about how you define success and ask yourself if that helps.

Do you think people who make more money are more successful?

In Western culture, it is common to believe that money = self-worth. This belief is difficult to shake. However, is this really the case?

After earning, saving, and investing enough money to meet your basic needs, there is some evidence that more money does not lead to correspondingly greater happiness. There are unhappy millionaires and contented and fulfilled low-income workers. In fact, I wrote about this topic in Secrets of the Super Rich.

New research led by Matthew Killingsworth of the University of Pennsylvania shows that some people are unhappy regardless of their level of wealth. For others, happiness declines once they hit $100,000. Finally, there is another group of people whose happiness increases with income.

Both psychology and religion show that your attitude and mindset affect your sense of success, not necessarily your net worth or income.

Inc. magazine’s Peter Cohan recently wrote in a Muse.com article that he believes success lies in controlling how you spend your time, not how much money you have. Ways to make more money abound, but no one I meet knows how to make more time. When your time is up, you’re done. No amount of extra wealth can create more time.

Have you set financial and personal goals and found that after reaching them, you were not satisfied. The same goes for money. Imagine you want to accumulate a million dollars. After reaching their goals, most people raise the bar and set higher financial goals.

The same goes for success, maybe you want to achieve a specific career goal. After reaching your goal, are you satisfied? Probably not. You might raise the bar to achieve another, higher goal, which might also lead to a higher salary. Don’t be surprised if you don’t feel more successful after achieving your financial and career goals

Success is not measured by money

The secret to success is not money. The secret to success is to live a life consistent with your values. The secret to success is to define what is important to you and appreciate what you have.

In a recent article on the website Reformjudaism.org, Hanan Harchol and Rabbi Leora Kaye shared one of the great teachings of the Jewish faith: “Who is rich ?Those who rejoice in what they have. In other words, if you are content with what you have, you are rich.

Money is not good or bad, it is just a tool to buy goods and experiences and to give to others. Believing that money will lead to success is the root of unhappiness.

Time is limited

“Do you want to be the richest man in the cemetery?”

To be sure, time is limited. Once it’s gone, it’s gone. I lost my dad a few years ago and seeing him in the last few years of his life drove home this idea for me. Combined with the fact that no one knows how long they will live, these realities emphasize the importance of using time efficiently.

I don’t know if money is the only measure of success, nor what is the best use of one’s time.

I solve this problem by trying to balance work, leisure, time with family, and time for hobbies.

BONUS; Keep pace with the Joneses – change your perspective, change your net worth

However, back to the beginning of this story – while updating our portfolio, I started mentally projecting some of our annual income and realized that we already had enough and that having more money did not equal greater success, Nor does it equal greater happiness.

Is the marginal time spent earning a few extra dollars more important than the precious afternoons spent with family? Consider what is truly important to you and whether having more wealth will bring you greater happiness.

However, this question also depends on your age and stage of life. If you want to buy a house, maybe it’s really important to have a second job right now. Or maybe you’re deeply in debt and determined to pay it off. Then every penny earned counts.

Multiple measures of success

There are many ways to measure success, and yes, money may be one of them. But looking for answers,“How do you measure success?“It’s multifaceted. Happiness research ties together the importance of finding purpose, taking charge, and making a contribution.

Does this mean that happy people are successful people? Happiness is a fleeting emotion. No one is happy all the time.

In fact, success may not be directly related to money or wealth.

Think about the social worker who is a single mother with several children. She is unlikely to make extra money, but she certainly contributes to the betterment of society. If she helps place a child in a good home, then she is truly successful.

How can community volunteers donate their time and work towards the betterment of society? He was definitely successful.

The mom who coaches her kids’ soccer team and the dad who helps with homework every night are both successful in the family and contributing to the greater good.

Is Bill Gates, one of the richest men in America, more successful than Mother Teresa?

In a broader sense, every job contributes. Doing your job with enthusiasm and competence can set you up for success in any field. Society needs successful garbage collectors, schoolteachers, accountants and plumbers. When a water pipe bursts, you value and appreciate a plumber more than a well-paid company president or a wealthy movie actor.

Before you jump headfirst into the next activity, think about the things you do that make your life successful. Don’t worry about what others are doing. Realize what more money can and cannot do. Money can buy things and experiences, but it can’t buy relationships, time, or true contentment.

Relevant

• How to measure and prevent investment risks
• What is real wealth? You are richer than you think
• The time value of money in financial decisions
• Compare the differences between short-term, medium-term and long-term financial goals
• When is the best time to start saving for retirement?

Disclosure: Please note, this article may contain affiliate linksmethod– NO COST TO YOU – I may earn a commission if you sign up or purchase through affiliate links. That said, I never recommend anything that I don’t think has value.