Is My Family's Definition of Success Leading Me to Financial Mediocrity?

"What does it mean to be financially successful? A Reddit poster is grappling with this question right now. As he explained, there's a lot of focus on status rather than on quality of life within his family. He's worried that buying into this version of success, where the goal is to impress the neighbors, could set him up for a life of mediocrity."

"The OP told the story of his family's money philosophy, and it's familiar to many people. He said his brother has an important-sounding job as a consultant, which leads his parents to beam with pride, but his brother is also stressed all the time, working 70-hour weeks, and not really doing much to build wealth. His cousin, on the other hand, works in HVAC, has a job no one really brags about, but bought a second rental property, takes three-day weekends, and is enjoying life."

Family members emphasize job titles and appearances over financial security and quality of life. A high-status job produces stress, long hours, and limited wealth-building. A trades job led to property ownership, shorter workweeks, and greater enjoyment. The family praises status despite less stability. The individual worries about pursuing appearances instead of sustainable financial goals. The recommended approach is to set concrete financial goals, prioritize investing, and focus on building security and a life aligned with personal values rather than impressing others. This shift increases chances of long-term wealth and better quality of life.

Read at 24/7 Wall St.