This article originally appeared in Aldrich Wealth Community, a client experience offering from Aldrich Wealth.

“Save for a rainy day” is a mantra most of us have grown up with. While the saying holds water, it’s all too easy to take a good idea to extremes. Not long ago, we met with a widow. She and her husband had diligently saved, sacrificing family vacations and fun outings year after year so their future selves could retire in luxury. Suddenly, her husband passed, and in the blink of an eye, she found herself with a large estate and an even larger void in her heart.

This client’s all-too-common experience underscores the need for a more intentional approach to financial planning, one that begins with the psychology of why we make certain financial choices and ultimately strikes a balance between preparing for tomorrow and living today. In search of that balance, we wanted to share some introspective questions and examples to mull over the next time you’re considering a lifestyle purchase.

Are you saving with a clear purpose or just accumulating more out of habit? What’s “enough” for your own goals?
John has always dreamed of owning a muscle car, an aspiration he shared with his father since childhood. And yet, even after a substantial windfall from the sale of his business, he has trouble making a Shelby Cobra-sized dent in his investments. Standing in front of his dream car, he wonders—will this really set me back, or am I just used to pinching every penny?

Do you feel financial pressure when comparing yourself to others?
For John, this isn’t about impressing anyone. He is, however, debating whether he needs such a luxury.

Are you sacrificing meaningful experiences to build more wealth?
Buying the car means forgoing an investment that could double down the road; however, as John admires the car’s sleek frame, he realizes some investments aren’t just about numbers.

Does this purchase align with your values and long-term vision, or is it a fleeting impulse?
John asks himself: Is this just a whim, or is it the fulfillment of a lifelong passion and connection with my father?

If you don’t buy it, will you care in five years?
John imagines himself five years from now: If I walk away, will I still think about the Cobra every time I go for a drive? The answer is clear. Some dreams don’t fade with time—they only grow stronger.

What’s the true cost of saying yes?
This money could go into investments, but John realizes wealth is a tool, not just an end goal. With a deep sense of nostalgia and gratitude, he signs the papers.

We often chase financial independence, believing it’s about accumulating wealth. But true independence isn’t just having money—it’s having the freedom to create meaningful experiences. For John, it meant embracing a lifelong dream. For the widow, it was a painful reminder that saving without living can come at a cost. The real purpose of wealth isn’t just to grow—it’s to be used with intention, to create memories, and to enjoy the moments that matter.

Next time you hesitate over a meaningful purchase, ask yourself: Am I sacrificing experiences I’ll cherish for wealth I may never fully enjoy? The key isn’t just saving for the future—it’s balancing security with a well-lived life today. If you’re considering a new purchase and feeling uncertain about whether it aligns with your long-term financial security while allowing you to enjoy meaningful experiences both now and in the future, contact your Aldrich Wealth advisor today.