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The Really Rich Journal

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The Weekly Tone

I’m sure you’ve heard some iteration of "Spend on experiences, not material possessions."

While this sounds like sage advice at first glance (and also because you regret spending $500 on Yeezys five years ago), let's dive deeper and challenge this notion.

It's not just obnoxious; it's misleading.

Let's get real. The whole "experiences over possessions" wisdom only holds water if your garage is already packed with stuff. For those who don't have the luxury of choice, this advice is not just unhelpful but potentially harmful.

Consider this example I shared in a video last week: if you're sleeping on a the proverbial air mattress, and yet feel compelled to drop a hefty sum on a trip to Tulum because, you know, YOLO—you may want to consider meditation.

You're essentially trading 360 days of discomfort for five days of fleeting pleasure.

Does that sound like a wise trade?

The smarter move would be to invest in a freaking bed. Why? Because the benefits of a good night's sleep extend far beyond just feeling rested. It's about improving your mood, boosting your productivity, and yes, maybe even helping you snag that promotion a bit sooner.

But, of course, you can’t post pictures of your bed on social media and expect much of a splash.

So, where did this skewed prioritization come from?

Look no further than the lifestyles of the rich whose perspective we hear from far more often than those with less. When you have an abundance of material goods, the thrill of the new fades quickly. The 42nd Rolex won't spark the same joy as the first. In such cases, yes, opting for experiences makes sense. But for someone who doesn't even own a reliable watch, the situation is starkly different.

A personal anecdote to illustrate my point: I found myself hopping around the entryway of my office every day, trying to take off my shoes (it snows in Chicago in case you’re unaware).

It took me months to realize the absurdity of this. Why am I hopping around like a clown?

The solution? I splurged on a relatively expensive bench.

Now, every single day is just a little bit better. That bench, in my opinion, should trump yet another plane ticket. The lesson? Secure your daily material comforts before chasing experiences.

Throughout the highs and lows of life, I've learned to prioritize accordingly. When material comfort is lacking, I hold off on purchasing experiences, opting instead for low-cost or free activities with loved ones.

Sure, the memories from fun times are priceless, but they lose their luster when you return home to a place where you can't even comfortably sit and relax.

Call it materialistic if you must, but I believe it's simply practical.

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Really Rich: I only miss out on things I truly want to do and foolishly decide not to out of fear.

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