FM 017: Why “Follow Your Passion” Is Bad Advice with Cal Newport

The Financial Mentor Podcast

Click here to download the transcript of Cal's best tips on building a fulfilling career (and true wealth)!

Free Instant Access

---

You've heard it repeated so many times that you no longer question if it is true.

In fact, the career success literature is so overwhelmingly dominated with this dangerous myth that almost nobody disagrees with it.

The only problem is, it's not true!

What is it, you ask?

It's called “the passion hypothesis”. The premise is you should do what you love and the money will follow. If you want to succeed then you should follow your passion.

It's one of those artifacts of conventional wisdom that seems to be right and passes the smell test so it slips under our radar. It is an example of superficial knowledge that appears true but is actually false.

This is not just an idle concept. It is a major source of disillusionment and career dissatisfaction. It also illustrates many concepts taught in Step 3 of my 7 Steps to 7 Figures wealth building curriculum.

In today's podcast were going to unmask this dangerous illusion. We're going to set the record straight by digging deep behind the facade of the passion hypothesis and revealing how a remarkable career and an enviable life of freedom and autonomy are truly built. Surprisingly, it's not what most people believe.

This interview will also introduce a guiding principle behind all teachings on this site – the idea that there is a second layer of knowledge just beyond the superficially obvious first layer that gives you a competitive advantage and helps you build wealth. This second layer of knowledge is based on research and reality – not meaningless platitudes.

Related: Why you need a wealth plan, not a financial plan.

Make sure to listen carefully because the truths revealed in this episode will turn conventional wisdom on its head.

In this episode you will discover:

• The important difference between first layer knowledge and second layer knowledge so that you can develop a competitive advantage.
• What the passion hypothesis is and how it works.
• The dangerous premise behind the passion hypothesis that is causing job satisfaction ratings to decline.
• Why career passions are rare, but that doesn't mean you're stuck. There's a smarter way to find passion and fulfillment through work if you just know the proper steps.
• The unexpected connection between career passion, skill mastery, and self-determination theory.
• The 7 traits proven by research to create career satisfaction.
• The surprising reality reversal – It's more important what you can offer your job than what it is offering you.
• Why it's not about finding the right work: It's about working right.
• The important parallel between investing your financial capital into crafting a life you love and investing career capital into work you love.
• Why you should stop focusing on self-promotion in social media and instead focus on producing something worth talking about.
• How skill leads to passion instead of passion being a precursor to skill.
• Why success is hard… by definition. There is always a hard phase so get over it.
• What the “courage culture” is and why you should avoid it.
• The two dimension of commitment that lead to success – what you do before you commit and what you do after. (Hint! They are as different as night and day.)
• The two different types of goals and the diametrically opposite ways you should achieve them.
• Why your most important career strategy is to compound career capital. (Notice the parallel to wealth building and the importance of compounding equity. This is not a coincidence.)
• Discover how the deliberate practice technique is the most efficient and certain path to compounding career capital.
• How to learn to love strain and discomfort as a good thing (seriously!).
• How to use career capital to buy the freedom you want now long before you're financially independent.
• How to use the law of financial viability to make money and make a positive impact in the world at the same time. (Surprise! The two goals are not mutually exclusive.)
• How to use the principle of little bets to build a huge success with almost no risk.
• The 3 step process to create a life you love.
• and much more….

Resources and Links Mentioned in this Session Include:

• Cal's web site is CalNewport.Com
• Cal's book is So Good They Can't Ignore You
• You can learn more about my financial coaching services here.
• Episode 6 of this podcast with Scott Young.
• My 7 Steps To 7 Figures wealth building system.
• A grouping of articles explaining the essential role of commitment to financial success.
• A directory of investment risk management articles on this site.

Help Out The Show:

The feedback on these podcasts has been great so thank you. I read every single comment. It matters.

5 star reviews increase the show's rank and help more people benefit from the message.

If you could spare a minute to leave a review on Itunes it would mean a lot to me. Thanks!

Click here to subscribe to the show on ITunes and leave a review…

Alternatively, this link below will help you subscribe and leave a review on your device…

Click here to subscribe and leave a review from inside your iTunes account…

"Discover The Comprehensive Wealth Planning Process Proven Through 20+ Years Of Coaching That Will Give You Complete Confidence In Your Financial Future"

• Get a step-by-step action plan to achieve financial independence - completely personalized to you.
• How to live for fulfilment now, while building wealth for the future.
• No more procrastination. No more confusion. Just progress and clarity

Expectancy Wealth Planning will show you how to create a financial roadmap for the rest of your life and give you all of the tools you need to follow it.

Learn More...