Why You Should Invest in Life Experiences Over Things

Working with people who have been successful in their financial lives, I get a unique perspective on how they have achieved success. I also get a view into their motivations and what makes them happy. A consistent theme I have found with my clients is that accumulating tangible items, aka “stuff,” is not what drives them or makes them happy. They are motivated by the relationships they have built and the experiences they have shared with those who matter the most.

My wife Katy and I recently had an opportunity to create one of those experiences for our family. As a young family with two daughters, we have decided to focus some of our resources on experiences that strengthen our bond and build great memories. We traveled to Costa Rica — a country that is very different from our own and is abundant with exciting outdoor activities, beautiful scenery, and the generous and welcoming disposition of the local people. Our family spent hours playing card games, afternoons building sand castles, and miles and miles navigating the roads to our next adventure. There wasn’t an iPad, cell phone, or video game console to be found and that was okay with everyone. We created memories that will endure our lifetimes.

In a society that bombards us with advertisements, social media, and television shows that glamorize having “stuff,” it is difficult to avoid wanting a new gadget, car, or your friend’s latest smartphone. What I have found, however, and what our clients have taught me, is that it is not the stuff we buy that brings us happiness, but it is the things we do with the people we love. I am incredibly blessed to have a happy and healthy family to share my life with and to have such great people in my life. I cherish these relationships and the experiences that we have together. All the money in the world won’t bring happiness, but managing your wealth and planning ahead will ensure you and your loved ones will have many more experiences for years to come.