- The Advisor's Playbook
- Posts
- What is Enough?
What is Enough?
My Latest
What is Enough
The Good and The Bad
A Money Question
My Latest
This month one of my favorite pieces of content was a recent episode of The Long Game.
I always find it challenging to understand what is true in the information age we live in. In this episode, we talk about 10 money misconceptions ranging from taxes to investing.
You can check out the episode here.
What is Enough?
This is arguably the hardest question to answer in personal finance. The world pushes everyone to want more, more, more. Heck half the time when we want more, we didn’t even know more (whatever the thing is) mattered until we saw someone else with it.
Think about that for a second ~ you didn’t enough care about it until you saw someone else with it.
It reminds me of watching my kids play with toys in our basement. A toy no one has played with in weeks can become the most desired thing simply because someone else has it.
Well guess what….we are not kids and we do the same thing.
I watched my dad build a great business and make the hard choice that more wasn’t the way.
He owned a dental practice with one hyper-efficient location.
It provided him with everything he needed (and more). The life he wanted with incredible optionality ~ he worked 3.5 days a week.
Yet, I remember him pondering the life a friend of his had. A dentist with 5+ practices. That guy seemingly had it all. The best stories, the biggest house, and the fancy cars.
Sounds cool right?
You know what he didn’t have?
Any freedom of his time, rock-solid relationships with his family, or the understanding of what was enough.
Look, if you are reading this you are a lifelong learner (like me). People like us have the drive to always do more but the truth is sometimes we need to channel our desire for more.
More doesn’t have to be stuff, money, things, and business deals.
In today’s newsletter, I am going to talk about the pull we all face for more and how I think about it.
Let’s dive in!
______________________
The Good and The Bad
You get to choose between two options.
Option one gives you everything you want from a financial perspective. You drive the car you want, live where you want, and go on the vacations you want. It also provides you with a nice life outside of your work.
Option two gives you everything you want plus all of the stuff you didn’t know you wanted. The stuff your neighbor has and the stuff you saw in the magazine.
Most of us might say we want option one yet our daily actions reflect option two.
This is the world we live in.
The thing most of us don’t realize is you can’t have the good without the bad.
I have been around some of the .01% in terms of financial success.
On the surface, life looks great. They have all the stuff.
Behind the scenes, life is brutal. They have little that matters.
So as people who want to achieve (and should work relentlessly towards that) how do we balance this?
______________________
My Stance
Many of you have heard me say this.
My best decisions always start with the end in mind.
To do this I encourage everyone to map out their perfect day:
You wake up and do what?
What hard thing do you like doing?
What daily project is most fulfilling?
Who do you want to spend your time with?
What are things that you would like to eliminate?
Do you like your current optionality and do you crave more?
For me, mine looks like this….
I move every morning. Usually this is in the form of a walk and/or a workout ~ it clears my head and allows me to think about the highest-value activity for the day.
I love building our business and guess what? That is hard. Creating the vision and executing that vision is stimulating to me.
I enjoy having conversations with our clients and helping them think through big money moves in their business and life. It is incredibly fulfilling for me.
I want to spend time with people who stretch my thinking (clients, team members, and my network) and my family. I say no to everything else.
I struggle with low-leverage tasks and try to avoid these at all costs. They put me in a bad head space and don’t leverage my unique gifts.
I strive for daily optionality that allows me to focus on the above but also have guardrails (through building Moment) that provides structure.
Is every day perfect?
Not a chance…but this framework has allowed me to better make decisions about what is enough.
Notice nothing in those questions about my perfect day reflects stuff.
Yet our world teaches us just to think about stuff.
Here is the truth:
Nice things are not bad. In fact, they can be (and often are) an incredible motivator and something that I strive for.
Yet my perfect day doesn’t include much about stuff. It includes things that optimize my mind, relationships I cherish, and the feeling of accomplishment I crave.
To me that matters far more than any material thing.
So as you think about what is enough ~ consider this:
It will look different for everyone and that is ok.
You shouldn’t strive for what I strive for. You should strive for what you want.
Just remember if more doesn’t align with your perfect day ~ Why are you doing it?
Until next time my friends!
______________________
A Money Question
How has your money impacted those around you?
As you ponder what is enough remember that money is a tool. One of the best (if not the best) ways to use money is to positively impact those around you. In what ways are you actively using your money to make an impact?
______________________
3 Ways I Can Help You
💰 Schedule an introductory call with Moment. We help athletes, entrepreneurs, and key employees build and protect wealth.
📹 Check out my YouTube channel. A safe place to get smarter with your money.
📷 Interact with me on Instagram. Where I provide bite-sized daily content to level up your money game.
Moment Private Wealth, LLC is a Registered Investment Advisor, located in the State of Missouri. Moment Private Wealth provides investment advisory and related services for clients nationally. Moment Private Wealth will maintain all applicable registrations and licenses as required by the various states in which Moment Private Wealth conducts business, as applicable. Moment Private Wealth renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or under an applicable state exemption or exclusion. Nothing in this content is intended to be, and you should not consider anything in this content to be, investment, accounting, tax, or legal advice.