The Curse Of Making Too Much Money And Not Pursuing Your Dreams

The Curse Of Making Too Much Money And Not Pursuing Your Dreams

There is a curse of making too much money that I want to talk about. So many of us are caught up in this cycle of wanting to make more and more. This desire is making us unhappy. We need to learn to let go.

The luckiest people on earth are perhaps those who don’t make a lot of money. They’ve got very little downside and can really pursue their childhood dreams. Imagine if from the moment you graduated college, you landed a plum corporate job that paid just enough to keep you motivated, but not enough to enjoy your freedom.

The longer you work the more you realize there’s really no escape, because there’s simply too much at stake. This is the problem that plagues my friend, Lyndon.

The Curse Of Making Too Much Money: A Strategy Consultant Who Makes Bank

Lyndon just turned 30 and is having a mid-life crisis. He’s worked for eight consecutive years at McKinsey & Co, one of the prominent management consulting firms in the world, and makes roughly $300,000 as an “Engagement Manager.”

Obama says he’s rich, but Lyndon isn’t buying it when his 1,200 square foot, two-bedroom apartment in New York City costs $5,000/month. If he wanted to buy the condo, he’d have to shell out over $1,600,000. To add further injury, $300,000 is really only $180,000 or so after federal (33%), state (7%), and city (4%) taxes!

All Lyndon ever thinks about is being a National Geographic nature photographer. Every single vacation is planned around some remote destination that takes two days to reach, and therefore another two days to return. Yet as a consultant, Lyndon is at the mercy of his clients. Instead of traveling to Mt. Kilamanjaro, he’s on a plane to Minneapolis in the middle of winter.

In five years, Lyndon knows he’ll probably continue to make more money and perhaps make millions as a partner in his 40s. But what’s the point if he’s not completely happy? The 65 hour work weeks and minutiae are wearing his soul thin. He wants out.

Yet, how does a 30 year old, who’s on a straight path to multiple-six figures rationally decide to quit his job and try and make it as a nature photographer?

No Sympathy

An ant is playing the world’s smallest violin somewhere underground. While millions are unemployed, Lyndon is on a path to financial freedom, with one of the most prestigious companies in the world. Yet he’s still unhappy. He has the curse of making too much money.

He see the less fortunate as those in temporary dislocation. Everything to Lyndon is logical. When markets crumble, people get dislocated, but eventually get relocated when the markets rebound. Oh, how Lyndon too, wishes he was dislocated.

Unfortunately, nobody will give Lyndon much sympathy, except for his fellow well-to-do friends.  Ironically, it’s the sympathy that Lyndon seeks, which makes him only hang out with people of his same socio-economic class. He understands that most of America won’t understand him so he shuns most people.

One Temporary Solution

In two years, Lyndon will have served 10 years at McKinsey, a long enough period of time for him to not feel guilty about taking a sabbatical. He’s never taken a 2 week vacation at once, and he’s never taken more than 4 weeks off for the entire year. How could he, since the firm is paying him so much?  It wouldn’t be fair to his clients he justifies to himself.

The problem with taking a sabbatical in two years is that he still has to work for another two years! He wants to see the world now. He’s restless, with unwavering confidence that he can always come back to the industry of advice and fortune. If he can’t and ends up spending most of his money, he can always get a temporary loan or work part-time to extend his dreams.

Walking Away

Lyndon decides that one of his New Year’s resolution is to reboot. After his bonus hits his bank account, he wants out, but is afraid to pursue his dreams.

He’ll have $250,000 in savings with no debt to his name if he quits. Remember though, that if he works another year, he’ll save another $80,000, and then another $80,000+ every year forever. The key issue is the word “forever.”

Lyndon has broken free from the curse of making too much money. Now he will live life on his own terms.

Solutions To Lyndon’s Dilemma

* Build your brand online. Lyndon should start his photography website ASAP before he negotiates a severance. Own your own brand online through your own website and potentially reach 3+ billion people online. I started ONIG Financial Blog in 2009 and was able to make a livable online income after 2.5 years to permanently leave corporate America.

If you feel you’re not getting paid what you’re worth and want to boost your income, start your own business online on the side. It used to cost a fortune and a lot of employees to start your business. Now you can start it for next to nothing with a hosting company for under $4/month and they’ll give you a free domain for a year to boot. Skip all the unnecessary add-ons.

Connect with like-minded people, find new consulting gigs, and potentially make a good amount of income online one day by selling your product or recommending other great products. Not a day goes by where I’m not thankful for starting ONIG Financial Blog back in 2009.

Blogging For A Living Income Example: $300,000+ - curse of making too much money
A real income statement example from a blogger. Look at all the income possibilities. CLICK the graph to learn how to start your own site in under 15 minutes.

* Negotiate a severance package. After 10 years of working at McKinsey, it’s clear Lyndon is on good terms. He should be able to negotiate a severance package worth 20 – 30 weeks of pay, or up to $130,000. I negotiated my severance after 11 years at one firm, which paid for six years of living expenses. Never quit your job, get laid off instead!

Updated for 2021 and beyond. If COVID-19 has taught us anything, it’s that tomorrow is not guaranteed. It’s time to live our lives to the fullest. I just want to say that even in 2021, I feel the curse of making too much money is still around now that I’m a parent. I need to learn how to relax more and let go. Don’t always try and hustle and keep growing FS.

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