#141 May 9th, 2024
Blake Carroll, CPA
PwC People Team - Manager | Helping Aspiring CPAs Navigate the CPA Exam with Confidence
This article explains why being extrinsically motivated to pursue things like wealth, fame, or status will ultimately be counterproductive in terms of our happiness and well-being. If we pursue those extrinsic measures of success there will always be a person with more than you. Unless you are Elon Musk there is always someone richer. Even as you rise on that ladder, all that changes is who you compare yourself to, and generally that puts us in a mindset of lack and always wishing we had more. Does that sound like a recipe for being content?
There is always more wealth or fame that you could earn; there is no ultimate finish line for them. Even if we do meet some artificial benchmark or goal that we have set for ourselves, we often will find it leaves us with some degree of emptiness because we thought it would feel better than it does. It is better to be motivated by more intrinsic things like passion, fun, or fulfillment. Focus on what you enjoy, not what will bring external rewards.?
This is a very powerful article about the lessons the author learned from losing her father to a heart attack at a relatively young age. It may not feel fun or pleasant to think about death so much, but it really can be beneficial in showing us what is important because the simple truth is that we are all going to die one day. We cannot keep putting things off, because there’s no guarantee of how much time we will have. Even tomorrow is not guaranteed. What is that skill you want to gain or that hobby you want to try for fun? What’s the dream you want to go after? Why not go for it?
The author challenges us to ask potentially difficult questions of self reflection. Since more time is not guaranteed, if you did find out that time was running out would you be satisfied with how you have lived, or will you be filled with regret instead? Being aware that each day is a gift can also help us enjoy it a whole lot more. We are more present because the future is uncertain, so we should not spend all our time wondering about the future rather than enjoying where we are now. There will be times in life we get caught up in pursuing greater status, times that we get stuck in the past or future, times when we sweat the small stuff too much. But those times are when we can practice coming back to what really matters and not taking anything for granted.
This article has advice for aspiring entrepreneurs who want to start a business in their spare time while still working another full-time job or being a full-time student. The overall theme of the advice is that you do not have to reinvent the wheel and try to create the next trillion dollar company. Stick to what you know and the skills you have. Since this is just a part time thing for you, it may be difficult to make the time commitment that would be necessary to add enough value at something you have never done before. Nothing great is built in a day, and you have to work at a sustainable pace.
You probably have subject matter expertise or experience in an area you enjoy where you can also provide value to others. It’s easy to get visions of the next big start up spanning many countries, but almost everyone has to start small and scale up over time. Simple can be a good thing. It’s also important to accept that whatever your idea is in the beginning is probably going to change. History is full of companies that have pivoted many times, as well as failures that were caused by refusing to pivot. Struggle can be a sign to try a new tactic rather than just continual hammering that isn’t working. The path of making your own business is long, but it can be worth it!?
领英推荐
The couple that wrote this article struggled to meet their belonged term financials because they were constantly getting tripped up by short term impulse purchases. They were sacrificing what they wanted most for what they wanted now. It was easier to treat yourself to a luxury that is right in front of you as opposed to having the discipline to save more when it will not benefit you until years down the road.
You have to be able to step back and take that longer-term view. There’s short term things Are not going to bring you to your ultimate goals, but prioritizing the long-term goals of financial freedom and debt freedom or what will end up enabling you to actually create the life that you want. We get messaging all the time about the short term, but we must be able to resist it to prioritize our future selves.??
CPA tip of the week: If you are feeling discouraged about the CPA exam and doubting your ability to pass, think about things you've overcome in the past.
Think about all the other tests you've done well on and the academic success you've had.
But also remind yourself of all the obstacles you've overcome in all other areas of life.
You've beaten seemingly impossible challenges before, and you can again!
If you need a coach or a mentor on the CPA exam I would love to help you and work together; please check out my website below:
Guest post of the week: Mike Manalac on the boost your career earnings get from getting your CPA license!