Some Unconventional Thoughts On Saving Money
Posted by Michael Vacanti
I love ‘aha’ moments.
Mainly, because having one means I went 29 years without recognizing something, and a single sentence shifted my perspective.
So, I really enjoyed this outlook on savings that Multimillionaire Hedge Fund Manager Bill Perkins shared while on the One Poker Life podcast:
“Those who save money, generally save too much.”
As a notorious shove-my-caddying-money-under-my-mattress saver, my ears perked up.
Bill explained further:
“The more money we die with, the more amazing experiences we forfeited during life. Because money buys those experiences.”
Quick caveat: saving some money is obviously a good thing.
And without any research on hand, I feel good about my speculation that most people are bad at saving money.
But if you in the minority that is like me.
Teetering on the anxious side, type A tendencies, and the owner of a microsoft excel file with a “total” cell that can never provide enough security against an unknown future…
Then let this thought marinate.
We don’t win anything by having the most money at the end of the game.
We win by having properly allocated those earnings toward the experiences we value most – travel, gifts, donations, possessions, and everything else we spend money on.
Think of it this way…
You could be 90 years old with 20 million in the bank.
Or you could be 90 years old with 1 million in the bank and 19 million worth of experiences.
Kind of a no-brainer to me 😉