A Deferred Life Plan Does Not Work

Posted by Syed Zain Raza on January 2nd, 2021

Are you following a deferred life plan? By this I mean are you doing your day job just to pay your bills or you really want to work where you are working now? People choose professions they have no interest in either because it pays really well or it is a respectable career in the society they live in. This is mainly because of two reasons either they are just being ignorant or they have tricked their mind in believing that by doing this they will be able to achieve both satisfaction and wealth.

In my opinion solving a problem and wealth can be a by-product of each other. For example, finding a cure to Alzheimer can result in making a bunch of people really rich. On the other hand, a person with abundance of capital can allocate that to create a company which will eventually solve Alzheimer. In the former case, capital was accumulated after solving the problem while in the latter case, capital was used to solve the problem.

If you want to earn $1B dollars, plan and go for it. There is nothing wrong in being wealthy and rich. If you want to solve climate change, do it without any expectation of a reward. Just do it for the sake of doing it because you are passionate about it. But do not think you can earn $500 million dollars and as a side hustle you might probably solve climate change too. Do one thing but do it with conviction and faith. I believe if you choose one thing to work on you will be able to succeed.

It is understandable to figure out your financial needs and be financially independent but doing it at the cost of sacrificing your passion will not turn out to be great in my opinion. If one wants to study psychology then do that instead of becoming a doctor/engineer that might make your parents proud. Likewise, selling a product you don’t believe in will not be effective for you and for the company you work for.

I can rant on this for a long time, but I am going to stop and share some resources in the references section which you can read to further explore this topic. But as we move into this new year, we should set our goals/targets with respect to our intrinsic motivation not because of some external rewards.

References:

1. https://www.youtube.com/watch?v=uEl2KUZ3JWA&t=1745s

2. https://wealthcareforwomen.com/deferred-life-plan/

3. https://startupsventurecapital.com/startups-are-the-new-deferred-life-plan-7f23d06eb1f3

4. https://lettersfromtheporch.wordpress.com/2009/09/26/on-the-deferred-life-plan-an-introduction-to-randy-komisar/