Dear HNW, Spend More
Most post-exit folks I’ve met are bad spenders, including me.
No, they’re not spending on the wrong things. They’re just not spending enough.
We’re some of the luckiest people in the world. And if you’re not increasing your spending, you’re not taking advantage of this unique position.
But it takes time to build this skill.
It could even take years to feel comfortable increasing your annual spending. While being financially responsible, try pushing it to the limit.
Look. If you’re lucky enough to be in a position not to need to work again but are hoarding capital like it’s your last dollar? Time to consider a change. I still love saving $1 at CVS or selling things on Facebook Marketplace, but I’m also building my spending skillset.
Maybe it’s momentum from being frugal growing up or how our parents raised us to save as much as possible.
Wouldn’t it be a shame if you didn’t have ultimate life fulfillment post-windfall? The ability to create life experiences most can only dream of—the flexibility to take complete control over how you want to spend your time.
We have to take full advantage of this.
Don’t know what to spend on? Try some of these:
Send your parents on a trip. It doesn’t have to be to Japan; it could be to San Diego or locally for a staycation.
Get your family member’s dirty car a detailed cleaning.
Buy your partner that jewelry they’ve talked about.
Upgrade your seats on the next flight.
Take a helicopter tour of your city.
Enjoy working out or just started? Upgrade all your gym clothes with Lululemon or Vuori.
I’m saying “yes” a lot more.
I probably overbooked myself with trips, adventures, friend excursions, and everything in between for 2024. But this year, I wanted to max out fulfillment.
Give it a try!