Thursday, February 21, 2013

Why the rich keep working

The American dream is a relative concept. Overall, it advocates that life, regardless of what state it is in, can be improved by traditional hard work. It suggests a minimum wage earner can own a house and maybe even a car, or that middle-class parents can live in a gated community and send their children to a private school by putting in enough hours at their respective work places. Upward mobility is every worker’s ambition, but what happens when they get to the top?

Image Source: cbc.ca













Living in the rat race, most nine-to-five workers dream of a fortune: an “I quit” sum of money for which they would leave their jobs and never return to any work again. For some, this is a million dollars; for more reasonable or modest livers, “the number” does not even come close to half. It may seem like an impossible figure, but a diligent few have already managed to earn their dream cash prize before retirement age. What is surprising to observe is that, once they reach “that point” in their lives, they do the opposite of what they may have promised themselves as young workers: they continue to work.

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For former CEO Steve Jobs, continuing to work at Apple clearly became about more than money and stocks. Until his illness got the better of him, Jobs continued to dedicate himself to his company because he wanted to see his ideas manifested. A visionary like Jobs could not simply be a spectator; he needed to see his ideas come to life to feel fulfilled before he died. Other top-level company executives like, Alan Meckler, CEO of WebMediaBrands with a net worth is over $400 million; Paul Allen, the lesser known co-founder of Microsoft; David Bergen, former CIO for Levis Strauss, could leave their jobs any minute and have enough money for several lifetimes, but choose to stay for posterity. Perhaps the rich continue to work because, once they get to “that point” in their life, they move past thinking of their work as a “job” and instead come think of it as life.

Image Source: forbes.com















Effective leaders produce work that speaks for itself. David Bergen of Levi Strauss provides tips and suggestions on how to maximize any size of team on this Twitter account.