Build a broad skill base - pursue learning, never money

Here is a piece of advice that I received early in my career:

 "Build a broad base of skills and experience that you can rely on as you progress in your career. While it may be possible (easy?) to secure a more senior position...greater responsibility and expectations come with increased salary. If you one day find yourself in a role where you cannot meet expectations, it is near impossible to any direction. Build that broad base, move up (only) when you are ready and the money will come."

I have considered this advice numerous times throughout my career. For example, when considering which role to pursue next, I try to identify a role at least one position further along my preferred career path. I then find a real role description for that role and see what skills and experience are required. That then gives me the criteria for the role that I am pursinging right now: Which of all the roles out there, am I confident that I can succeed in and will give me the most and best, skills and experience?

Note, I have a minimum salary that I would accept, but it is the minimum amount that my family can comfortably live on. I have almost never excluded a role on the basis of money. Please note, while I have typically worked in high paying industries, I have managed my/our budget very carefully,  which has increased my financial freedom. Perhaps, if you're interested, this could be a topic for a future blog post?

One final note on this topic, I would rather "hit it out of the park" in a more junior role, exceeding expectations, than just barely meet expectations in a more senior role. I love the career freedom this approach provides!