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Relationships are More Important than Ambition

Five takeaways:

  1. Ambition, the author argues, is viewed as a force that drives people forward. Conversely, relationships are often seen to hold people back from developing in life.
  2. The author cites a Journal of Applied Psychology a multidecade study that tracked the lives of ambitious children into adulthood. The study found, unsurprisingly, that children who exhibited more ambition early on went on to more illustrious and lucrative lives. But it also showed that early ambition was not as strongly correlated with wellbeing later in life. In fact, it showed that ambition is only weakly connected with well-being and negatively associated with longevity.
  3. The author cites psychologist Tim Kasser, who has shown that the pursuit of materialistic values like money, possessions, and social status– the fruits of career successes– is correlated with lower well-being and more distress. It can also come at the cost of meaningful personal relationships.
  4. Many studies have shown that community is strongly connected to well-being– more so than financial success. A 2009 Science study of 1.2million people showed that Louisiana was the happiest state… while the richest states like California, New York, and Connecticut, were listed among the least happy.
  5. Barry Schwartz, a psychological researcher based at Swarthmore College, notes that while relationships can have a limiting effect on one’s life, but that too much freedom in life can be detrimental: “Relationships are meant to constrain,” he says. “but if you’re always on the lookout for better, such constraints are experienced with bitterness and resentment.”

From Emily Esfahani Smith at The Atlantic:
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Note: At the time of this posting The Atlantic offers five free article views per month.

This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.

The Problem With ‘No Regrets’

Five takeaways:

  1. While a “no regrets” mindset might sound freeing, it falsely suggests that life can and should be lived without “looking through the rearview mirror.”
  2. A 2020 study of 15,000 people in 105 countries showed that 82% percent of respondents said they feel regret occasionally; 21% said they feel regret “all the time”; and 1% said they never feel regret.
  3. While being overwhelmed by regret is unhealthy, forcing yourself to completely do away with regret completely will curse you to repeat your mistakes
  4. Brooks cites a recent book by Daniel H. Pink that breaks regret into four different types:
    • Connection regret– regret over harmed or broken or lost relationships
    • Moral regret – regret over the violation of your own values
    • Foundation regret – regret over decisions that had a profound effect on your life (like wishing you had not moved to a city, or picked a different college major)
    • Boldness regret – regret over inaction or foregone opportunities
  5. Regret can overwhelm you, but shunning them is a lost opportunity to grow. We must learn from every aspect of our lives.

From Arthur C. Brooks at The Atlantic:
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Note: At the time of this posting The Atlantic offers five free article views per month.

This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.

The Strategic Side Gig

Five takeaways:

  1. While career-based ambition can lead people to be almost obsessively focused on job performance, this article argues that actively maintaining multiple interests is important for long term success.
  2. Leaders are well served to find ways to expand their range of knowledge, skills, and connections outside their daily work– especially in a world where industries and fields are rapidly shifting and intermixing.
  3. Make sure your “side gigs” are meaningful and aligned with your personal goals. Work on boards, teach/mentor, or volunteer in public service.
  4. Aside from building new skills, a strong “side gig” will allow time to recharge, and to grow your perspective.
  5. Taking on extracurricular activities may seem like a difficult thing given your busy work schedule, but it can and will open opportunities and give you a competitive advantage.

From Ken Banta and Orlan Boston at Harvard Business Review:
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Note: At the time of this posting Harvard Business Review offers two free article views per month. Four if you register for a free account.

This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.

Habits vs. Goals: A Look at the Benefits of a Systematic Approach to Life

Five takeaways:

  1. This article breaks down the important relationship between habits and goals.
  2. It is important to note “the problems with goals” – goals have definitive ends, they are often set unrealistically/impractically, and in some cases our brains can confuse goal setting with achievement– because setting the goal feels like an end in itself.
  3. Habits, on the other hand, are worth exploring for their benefits. For one– habits take otherwise difficult tasks like saving money- and make them easy in practice.
  4. Habits are compounding and create a lifelong framework for success. They can actually rewire your brain to become automatic behaviors.
  5. By switching our focus from achieving specific goals to creating positive long-term habits, we can make continuous improvement a way of life.

From Shane Parrish at the Farnham Street blog:
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This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.
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