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  • MoneyMarci

Should you change your path to reach your goals? - 6/09/2023

There are 2 opposing wisdom facts of business -


1) Don't be stuck following a sunk cost

2) Success comes to those who don't quit


How do you know when to keep pushing and when to walk away? This is a huge question that most people have to confront at some point in their lives.

-I know someone who took the CPA exam 10 times to finally get his passing score. He's a great accountant but not a good test-taker.

-I know people who intentionally gave up the career they went to school for to take a lower paying job that makes them much happier.


We each have goals in life, whether about money, respect, or acknowledgement. At some point we may realize that the path we are taking isn't what we thought it would be or it isn't what we want anymore. Sometimes we feel that we invested so much time, money, and resources on that path that there is pressure to continue.


We are taught that grit and perseverance are the way to achieve our goals. That is true but it isn't a guarantee that our goals will be what we want forever.


Think of all the kids who play high school sports and the small percentage that get to play college sports. And the college athletes that don't make it professionally. How long should they play in the minors before it is in their best interest to turn their efforts toward other opportunities?


Think of the students who were pre-med but don't get into medical school or they do get into medical school and after a year or so realize that being a doctor wasn't what they expected it to be. Or maybe they don't realize it until after they have completed their residency.


No one else can answer this question for you, when to persevere and when to acknowledge that you are on the wrong path. Remember that both options can be correct and either option can be wrong. You need to make the best decision for yourself.


Don't give up because something is difficult but don't keep going just because you have already invested time and money. Evaluate your options and goals from where you are right now.


It is ok to change your path to reach your goals.


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