I am in a similar situation to yourself, but will try to answer this without opinionated bias. I'm also not going to focus specifically on graduate school, rather keep the answer generalized to college programs.
When it comes to higher education, the biggest factors to realistically consider include: cost, marketability, and the ability of the student to succeed in both the program and a career once they have finished. So unless a student is already wealthy from some outside factor, then they need to make a decision that will allow them to make the most out of any given program's time and monetary cost. This is done by estimating one's ability to be marketable enough to earn a profit after exiting the program and one's capability to both complete the program and succeed in a the career options for which each program prepares the student.
The first task should be fairly easily accomplished by most adults who are looking to further their education. There is plenty of information available about median incomes for various jobs and what the ideal education level is for them. If the time and cost required for a program do not justify what will be spent to complete it for whatever the student's needs are, then it likely is not a viable choice for them.
The second task is a bit more difficult. There is research being done daily that discusses the marketability of various degree programs, but it is hardly set in stone and is often skewed by regions or locations (ie, Silicon Valley for tech based jobs). This is where a particular student would need to heavily tailor their decision based on their own experiences. They need to first decide if they are set on living in an certain area. That will drastically change their ability to be marketable for many degree programs. As income levels for industries vary by location, then that would likely be the next issue. A particular job might constantly be in demand, but it might not have a particularly good income level in the region where the student wishes to spend their life. Teaching is a good example here as it is often in demand, but what they make can vary greatly by where they work (ie, teachers in Alaska make significantly more money than most of the rest of the US, because not many people want to live there).
Finally, the truly hard part begins. After assessing the complete financial situation, would be the student's own ability to find and do something with which they are comfortable. This can offset some of the money parts, but not all of it, which is why I put it last. After a student has narrowed down their interests by their ability to provide for themselves and/or their families, then comes the time to narrow down any further decisions based on what is it that they can and are willing to do for hours and hours every week for the foreseeable future. If the student is someone with wildly varying interests, then the best career path would be one with options, versus one where there is a mostly clear path of what they will be doing throughout their day. For example, Computer Science offers a dizzying array of possible titles and positions for each degree level completed, while Archaeology is a significantly more limited field. Each student will differ at this point in the process and must be treated differently to determine how to quantify their personality fit and possible fulfillment level of the programs that they are deciding between, but ideally it will rarely come this far as the previous stages are more generic and easier to handle, as well as being topics that are often overlooked.
To the OP, my recommendation is to consider the first two tasks of my answer and try to narrow down the fields based on facts and choices that you may have already made in life before trying to handle the personal choice of enjoyment. It may be that by preferring warmer climates or having already started a family, one option stands out more sharply as a prospective career. If you manage to make it all the way to the last point again, then take the time to sit down with everyone who would be concerned with your available choices, and start working through the pros, cons, impacts, etc. If possible, do this at the office of a counselor, whose job it is to help with these sorts of decisions. Good luck.