If you have ever ridden a subway in Toronto, or even any form of public transit for that matter, then you have probably seen a number of ads that depict a seemingly attainable lifestyle of glamour, fame, and financial freedom. Quite often, these ads contain notable figures in pop culture – or rather – ‘celebrity mentors’ that cause you to compare your life to theirs. This is also especially prevalent throughout social media, but by comparing your lifestyle to that of a celebrity, it is easy to assume that your life is unsatisfactory and needs to be altered to fit their view of success and happiness.
Thinking in this manner can not only have a detrimental impact on your overall happiness in life, but also on your ability to build smart capital. Instead of being swept up in the idea that the best investments you could make are the ones that lead you towards the lifestyle of a celebrity mentor, one should aim to build smart capital for the sake of one’s own goals and needs – which is often in contrast to that which can be seen on a Toronto subway ad or social media. This is where the Mill Street core value of persistence plays a role. One must continually keep track of where their motivations for success originate, and consciously determine if their goals are that of their own, or that of a celebrity mentor.
To begin this process, you need only ask yourself, “what are my goals for the future, and how do these relate to my current situation?“ The important part of this question is to do with how your goals truly relate to your current situation, since it is far too easy to compare yourself to a life completely unlike your own. While achieving financial freedom is certainly an admirable goal, it should be noted that the concept of financial freedom for a celebrity mentor often differs from that of the individual. In other words, it is essential that you aim to build smart capital in a way that improves your life over what you already have, without falling into the trap of comparing yourself to others.
Although this is often easier said than done, it is helpful to be persistent in asking yourself the question noted above, and to be continually aware of the impact that comparing yourself to others can have. Oftentimes, the best investments you could make involve being honest with yourself about your current situation, and working towards building smart capital in a manner that helps improve it. Once you become unencumbered by the thoughts of chasing a life that can be seen on a Toronto subway ad, it becomes easier to see the most optimal path for you to achieve a goal such as financial freedom.
Noah Murad, the CEO of Mill Street & Co, has written about this topic in his sixth Perspectives piece, and describes in great detail the effects that comparing oneself to others can have in terms of building smart capital in a city such as Toronto. If you are interested in learning more about celebrity mentors and how they affect your ability to make the best investments possible, it is worth taking a few minutes to read Noah Murad’s insights into the matter. The Mill Street & Co website also has a trove of information regarding smart capital investing, business management strategies, and ideas for developing a well rounded portfolio. This information can be found in the Mill Street & Co online knowledge base, along with many other ideas to help you determine the best investments you could possibly make for your individual scenario.