Debunking self-help advice that you've likely heard | Nudge Newsletter


Long-Term Goals = Success?

Read online


You've probably heard of the “Yale Goal Study".

Here's the study.

In 1953, researchers interviewed Yale’s graduating class. They asked a simple question:

“Have you written down your goals for life?”

Twenty years later, they tracked the same students down.

And discovered something dramatic.

Just 3% had written specific goals.

And that 3% had built more personal wealth than the other 97% combined.

It’s a perfect self-help story, with a simple lesson.

Make long-term specific goals and you'll achieve success.

It gets quoted in seminars. Repeated in books. Shared in LinkedIn posts.

There’s just one small problem...

It never happened.

In 1996, Fast Company writer Lawrence Tabak¹ tried to track down the original research.

He contacted authors who had cited it. He reached out to the secretary of Yale’s Class of 1953. He spoke with researchers who had gone looking before him.

There was no evidence the study ever existed.

It's one of the most popular findings for self-help gurus. Yet it's entirely fictitious.

Writing down your long-term specific goals is definitely useful, but don't be fooled into thinking it'll guarantee you financial success.

So, are there reliable evidence-backed insights you can use?

Yes, in the Nudge Vaults.


Looking for an AI newsletter that cuts through the hype?

The Mindstream newsletter explains, analyses, and gives you the signal, offering news and insights that turn rapid change into clear understanding.

Join 200,000+ readers and subscribe today

Thanks for reading,

Phill

¹Tabak, L. (1996). If your goal is success, don't consult the gurus. Fast Company.

As a behavioural science practitioner, I believe in the peak-end rule.

Tune into Nudge | Advertise with Nudge | Unsubscribe

Nudge Newsletter

I spend 18 hours each week turning marketing psychology into readable newsletters.

Read more from Nudge Newsletter

The Mere Exposure Effect Read online Take a look at this image. What do you see? Taken from Robson's brilliant book The Expectation Effect¹ This is a real image, but it's bleached and poor quality. Chances are, you can't spot what this is. Have another look. Spotted anything? I imagine it's still a no. However, if I tell you to look for a cow, you might see the image differently. As Robson¹ writes: Something somehow “clicks,” and the image suddenly makes a lot more sense. Let's try another...

The Faith Effect Read online Watch an England football match and you'll see a lot of praying. Madueke, Toney, Guehi, Rashford and Saka from left to right. How many players are religious? Well, the evidence is thin. The Telegraph¹ confirms that at least four players are openly Christian. And Woman Alive² (a slightly less reputable source) claims as many as 50% of the team follow a god—higher than the UK average. Regardless of the true number, if you watch England, you'll see a lot of praying....

The Authority Bias Read online Here are some not-so-surprising stats. 20% of trades on the stock market are from brokers copying other profitable brokers¹. 60% of traders say they started trading by copying expert online². But do these financial experts really know more than the rest of us? That's what Richard Wiseman looked at in his great book, Quirkology. Investors vs Chimp Back in 1994, a Swedish newspaper ran a light-hearted experiment. The newspaper gave $1,250 each to five experienced...