Golden handcuffs: a phrase first recorded in 1976, refers to financial allurements and benefits that have the objective to encourage highly compensated employees to remain within a company or organization instead of moving from company to company (or organization to organization) (opposite of a golden parachute).

Surely you can relate to someone taking a job they might not love because it pays more right? I think the main point he's trying to make is think twice before doing a job you hate, just because it pays more. Life is short, your job takes up a lot of your time, so consider doing something you enjoy...even if it pays less. That part at least is good advice I think.