In today’s fast-paced world, many people equate success with wealth. But is that true for most Americans? While financial stability is indeed valuable, a recent study suggests that people these days are considering various other factors as indicators of success and happiness, some of which might surprise you.
In 2013, American Express conducted a study called “The Life Twist Study” which surveyed over 2,000 Americans to gain insight into how they define success. Results showed that only one in four people believed that financial wealth determines personal fulfillment. Interestingly, 73 percent of respondents did not associate wealth with success, signaling a significant shift in people’s perception of what brings contentment and happiness in life.
A Surprising Shift in Priorities
Contrary to the American stereotype of a materialistic mindset, the study revealed that there are multiple other aspects of life that rank higher on people’s list of priorities for personal fulfillment, such as health, relationships, and career satisfaction. The top five factors identified by respondents as most important to their success include:
- Health – 85 percent considered this as the most essential element of success.
- Good relationship or marriage – 83 percent believed having a strong interpersonal bond was critical to leading a fulfilling life.
- Good financial management – Though not the same as wealth, 81 percent felt that managing their finances well was crucial for success.
- Work-life balance – 81 percent also stressed the importance of maintaining a healthy balance between personal and professional commitments.
- Job or career satisfaction- 79 percent emphasized that being passionate about their work was a significant part of a successful existence.
Adaptability is Key
Above all, a staggering 94 percent of survey participants agreed that the ability to adapt to changes and being open to new experiences were the most critical factors in achieving personal success. This sentiment highlights an essential aspect of living a fulfilling life, which is recognizing that change is inevitable and being ready to embrace it wholeheartedly.
Though the study’s authors observed a rising trend, they also pointed out that the notion of success was not solely focused on wealth. Instead, it ranked a relatively low 20th on a list of 22 possible contributors to a successful life. This finding demonstrates that Americans are increasingly prioritizing a meaningful existence over merely accumulating monetary wealth.
Possible Causes for the Shift
The study’s authors suggest that the driving force behind the shift in attitudes towards success could be the economic downturn and high unemployment levels in the United States at the time of the survey. These financial challenges led a considerable number of Americans to reassess what truly matters in life.
In fact, 43 percent of those surveyed admitted that they’d experienced financial setbacks, but more than half viewed these difficulties as opportunities to reflect on what’s essential to them. Additionally, 42 percent of respondents found that facing adversity opened them up to new ways of thinking and novel experiences.
The Takeaway
With financial wealth losing its foothold as the sole yardstick of success and happiness, it’s clear that societal values are experiencing a significant transformation. This shift in priorities is a powerful reminder that factors like health, relationships, and personal growth often take precedence over material success in people’s pursuit of a truly fulfilling life.
