Good morning!

First, an image for you to consider:

The above comes from JP Morgan's Guide to Retirement.

And as this image reminds us (hopefully), it doesn't make a lot of sense to spend our time and energy on things that are out of our control.

Yet, that's what most financial advisors and the Wall Street marketing machine would have us do. (especially when it comes to your investment portfolio)

Nevertheless, I think you'd agree that we absolutely can control how much we spend and how much we save.

And this isn't one of those "do you know how much your daily Starbucks costs you in missed retirement savings"?

I'm not that guy.

But let's talk about your spending...

What's something you LOVE to spend money on?

I mean something that puts a smile on your face, joy in your heart, and really lights you up.

There's no judgement here.

It could be clothes, food, travel, a Rolex, shoes, cars, certain experiences, or anything under the sun.

But I want you to picture what it is for YOU.

OK, now imagine you quadrupled your spending on this ONE thing.

Let's use dining out at a favorite restaurant as an example.

If it's your favorite restaurant and you truly LOVE to spend money to go there, what would happen if you were to spend 4X as much money on this ONE thing?

Many people automatically assume they'd go four times as often.

Instead of once a month, maybe you'd go once a week.

Now, what if you were to spend 10X on this ONE thing that you LOVE?

Well, if you started going to this restaurant 10 times a month, it might start to get a little boring. It might become something that you'd no longer LOVE to do.

But this is just a simple example of how we typically think in linear terms when it comes to our spending.

What if, given the ability to spend 10X on your ONE thing, instead of going to your favorite restaurant more frequently, you were able to discover a NEW favorite restaurant?

A new restaurant that costs 10X your previous favorite?

Or maybe it costs 3X your previous favorite, which means you can now go 3X as often.

Or maybe you continue to love your original favorite restaurant.

How about inviting family and friends to join you to share in a special meal with you?

Or how about arranging for a private tasting menu designed by the chef on a future visit?

In other words, the ability (and willingness) to spend more doesn't have to simply mean a greater volume of the same thing (though it absolutely can).

Instead, expand your thinking.

Consider the possibilities.

Spend deliberately and purposefully on the people, things, and experiences that bring you joy and happiness.

And likewise, be deliberate when spending on the rest of your life.

A couple of closing thoughts:

• Money is merely a tool. Use it make the most of your one and only precious life.
• So many of us just fall into spending habits without really thinking critically about what makes us happy. But if something does bring you happiness, why not find a way to spend more on that.
• More money (in terms of spending) doesn't have to just mean more of a good thing. Maybe more spending means "leveling up" something you enjoy or finding new ways to enjoy it.
• If you're interested in spending more on the things and experiences that bring you joy and fulfillment, you might also need to consider ways to spend less in other areas of your life. This is OK. As long as you're being intentional about it.

What about you?

What do you most enjoy spending money on? And why?

And how would it change things for you if you were to start spending 10 times as much on that ONE thing?

I invite you to reply with your thoughts or ideas.

Links & Things

• Many of you might have "met" Laura Jalbert recently as she was kind enough to contribute to more than one episode of my "caregiver series." Well, I'm happy that Laura joined me for another, expanded conversation about her and her company and the important work they do in supporting seniors. Check out our conversation here on YouTube.
• I encourage you to read this recent Morgan Housel article titled "Does Not Compute." Yet again, some solid, though-provoking writing from Mr. Housel.

Thank you, as always, for reading.

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