Avoid the Pitfalls of Money Mountain and Hobby Hill

We've all faced mountains, whether physical or metaphorical, and we've all relished in the victory of conquering a difficult peak. The allure of a challenge, the thrill of accomplishment, and the profound satisfaction that follows are as real as they are exciting.

Sir Edmund Hillary, 60 years after becoming the first man confirmed to summit Mount Everest alongside his sherpa, Tenzing Norgay, described his motivation for undertaking the challenge of climbing:

"I mainly climb mountains because I get a great deal of enjoyment out of it… I think that all mountaineers get a great deal of satisfaction from overcoming some challenge they think is very difficult for them. [When climbing a mountain] you're so affected by the restrictions of the altitude that you never really can be completely confident that you're going to be able to overcome the technical difficulties ahead of you…[so when you finally reach the summit] your first thought [is] one of a little bit of surprise—of course, you are very, very pleased to be there, naturally—but my first thought was one of surprise."

You can easily compare the journey to financial freedom to climbing a mountain. It’s steep and consuming. If you are able to make it to the top of Money Mountain, you are probably exhausted and pleased to have finally reached the top. And like Sir Edmund Hillary, you are possibly in a state of “surprise.” After resting and celebrating this accomplishment, it's time to choose your next peak.

The great management guru, Peter Drucker says of people who have done well, "They end up in one of three groups." One group retires, "but they usually don't live very long." Another group keeps trying to do what they've been doing but gradually declines; the third group is "looking for ways to contribute. They feel they've been given a lot, and they're looking for a chance to give back. They're unsatisfied with writing checks; they want to be involved and help others more positively."

These choices apply to anyone on the metaphorical peak of a life transition. As you summit your mountain, ask yourself:

• Will I continue climbing in a second pursuit?
• Will I “retire” (or stop climbing)?
• Or, will I find a new mountain to climb?

Exploring what lies beyond and determining your next climb can be daunting and exhilarating. The challenge is to discover what you find meaningful. When Peter Drucker breaks down your options, it seems so simple–find a way to contribute. Unfortunately, real life usually doesn’t present an obvious decision.

So what happens when the summit is behind you? When the quiet celebration of your accomplishments gives way to the echoing question: What's next?

Money Mountain

For many, the instinct is to climb the mountain again! It makes sense. You know how to climb, and it satisfied your drive to build last time. However, once you've tasted success, the same climb might not offer the same reward.

Initially, climbing the mountain is about securing basic needs: food, shelter, and safety for ourselves and our loved ones. But what happens when these needs are met and you don’t NEED to reach the top? Once you've reached the peak, attempting to conquer the mountain a second time may be less satisfying. The first climb was about providing sustained food and shelter for yourself and your family. Beyond this biological need, you've realized you've also achieved an important goal, something you have looked forward to for a long time. Once you've reached a level of prosperity to meet your basic needs, you may discover that continuing to climb in a second attempt feels flat.

Hobby Hill

"All right," you may think, "I won't keep climbing Money Mountain; that's easy enough. But what else is there?" Just next to Money Mountain lies Hobby Hill. Here, the landscape is less about financial conquest and more about personal enjoyment and leisure. It seems an ideal respite after an arduous climb, and it's the most convenient and tempting place to be after Money Mountain.

As crazy as it sounds, Hobby Hill gets boring. You’ll quickly realize Hobby Hill is a great place to visit but not a place you want to live long-term. While hobbies aren't necessarily bad in themselves, meandering around Hobby Hill for extended periods lacks deep meaning.

While Hobby Hill offers a break from the relentless pursuit of money, it lacks the deep sense of purpose and accomplishment from overcoming truly challenging peaks. The hobbies, although enjoyable, do not provide the same fulfillment, revealing that constant leisure can lead to a sense of aimlessness and dissatisfaction.

Find Your Next Peak

As we summit our personal Money Mountains, the question arises: What next? We can recognize and avoid staying on Money Mountain and meandering around Hobby Hill as we prioritize what matters most in finding our next peak.