Nov 1, 2022
When did you last use your money to create an experience or memory that made you feel happy, personally content, or proud?
“Memories are an investment in our future selves," writes Bill Perkins, author of the book Die With Zero, that "pay dividends and help us live richer lives.” Yet, in this episode, Kevin Mahoney, CFP®, who specializes in financial planning for Millennials, discusses why we often struggle to exchange our money for experiences.
In fact, Kevin explains why people who say they’re saving up for retirement are not actually spending those retirement savings once they reach retirement.
Almost all of us can agree that, in theory, money is just a means to an end. But in practice, we often act differently. We don’t act as if we ultimately seek to use our money to enjoy our lives. Instead, we focus on trying to maximize the money that we have. We succumb to fear and uncertainty, even when we have enough resources to both survive and thrive.
Welcome to Financially Well, the finance podcast for Millennials.