Internet people love talking about what they WON’T spend $ on

I was reading some random Reddit thread about lifestyle changes at various Can't view this email properly? [View in Browser]() [Podcast Newsletter Header Final.png]() {NAME}, I was reading some random Reddit thread about lifestyle changes at various income levels. It was so depressing. You see comments like, “Why would I buy new shoes? Mine are just fine!” This really gets other people excited because cheap people love talking about all the things they would never, ever spend money on, so they start piling on: Why would I ever eat out at a fancy restaurant? I’m fine with In-N-Out! Why would I ever need to travel anywhere? We have everything we need here! Why would you need to spend money on family? We have a roof over our heads and a park down the street. Listen, I understand this. I drive an old car, I rent, and if there’s one thing more of us need to understand, it’s what “enough” really is. But then I’ll gently ask: Wouldn’t you want to try fresh food? What about supporting local businesses around you? Didn’t you say you want to “buy the best and keep it forever?” Their glum reaction: “Oh yeah.” What they’re really saying is, “I claim I want certain things, but when it comes down to actually spending money, I don’t, because I value hoarding money more.” [Here’s a conversation where I spoke with a multi-million-dollar couple who struggled to spend their money](). When you surround yourself with a group of people who believe that the ultimate goal of money is to save it, it becomes very intoxicating to accumulate more and more of it—and it actually becomes stigmatized to want to spend any of it. Ultimately, you forget that the point of money is not to merely save it. The point of money is to spend it meaningfully. (Continued below) --------------------------------------------------------------- If you have a high income or net worth... By the way, if you wish you had more people to talk to about spending meaningfully with, check out this newsletter’s sponsor, Long Angle. Long Angle Long Angle is a community composed of HNWI (high net-worth individuals) where you can share knowledge, get confidential, unbiased support, and network—both online and at in-person events. I’m also a member. [Learn more here](). --------------------------------------------------------------- Spending meaningfully Personally, I WANT to try the best foods in the world. For example, I love berries. Berries I want to spend money on my fitness. Gym I want to travel and be generous and be spontaneous and have FUN. Isn’t that the point of all the work you’re doing? Here’s what I’ve observed about the psychology of spending: - Deep down, most extremely frugal people fear spending on something expensive—even once—because in their view, “If I eat out at a nice restaurant once, I might discover I actually like it and then I’ll have to eat there every day for the rest of my life.” - It’s much easier for people to talk about what they don’t want than what they do. It becomes addictive after a while, but no identity or value system is coherent by focusing simply on what it’s not. - If you ask people, “If you could spend anything, what would you do?”, people have great answers. They talk about eating healthy foods, showing their kids new experiences, and yes, even buying something nice for themselves (it’s ok to want nice things). - Many people proudly say, “If I had $10 million more, I wouldn’t change a thing.” Then they wait for everyone to applaud, because what they’re really trying to say is I’m A Simple Person And I Don’t Need Fancy Stuff Like Those Dumb People. But I find their response deeply unimpressive. You’re telling me if you had MILLIONS of dollars, you couldn’t find an organization to write a fat check to? You wouldn’t surprise your family with a life-changing trip, including hiring a photographer to capture the special moments that would live in your family for generations? You wouldn’t buy a new coat, or piece of jewelry, or a freaking dinner out for your spouse? There’s no virtue in living a smaller life than you have to. That’s why I’m so insistent on designing your Rich Life. [The best place to start designing your Rich Life is using my Journal, which you can get right here.]() I’ll see you next year. [Signature] P.S. This week on the podcast: “We have $500k in debt. Can I retire early?” Check out Part 1 of my conversation with David and Halima [here](). [Programs]() [Podcast]() [Netflix show]() [Books]() [Website]() [IG]() [in]() [X]() [YT]() Was this forwarded to you? [Sign up here](). [Unsubscribe here](. 548 Market St #89946 San Francisco, CA 94104-5401