The kind of joy that isn’t measured in balance sheets or excel spreadsheets or stock ticker prices but in moments and memories. And almost always, that joy is found at the intersection of the people you love and the experiences you share with them.
There’s an underrated beauty in spending money. The financial world often glorifies saving, investing, and accumulating wealth, but money is ultimately a tool—a tool to build the life you want. And when I see clients use that tool to foster meaningful experiences with loved ones, I know they’re on the right track. It’s a sign that wealth isn’t just growing; it’s working.
Imagine this: you’re 65 years old and live in New York, while your grandchildren are in California. If you visit them maybe twice a year, and you might have 25 years left, that’s 50 visits remaining in your lifetime. It’s a sobering thought. But it’s also an opportunity. When you look at your money not as a safety net, but as a bridge—one that can bring you closer to your loved ones—spending on those plane tickets becomes less of an expense and more of an investment.
Over the course of my career, I’ve had the privilege of seeing countless ways to spend money thoughtfully. One client, for example, took each grandchild on an international trip when they reached a certain age. Another allowed her children to choose any destination from a travel book, using their selection to plan the family’s annual trip. She covered everything—flights, lodging, dining, museum visits—the whole experience. It was expensive, but the returns came not in dollars and cents but in stories, laughter, and lasting memories. Thanks to the convenience of iPhones, the photos and videos help keep the spirit of those experiences alive. To me, that is legacy planning.
There’s a risk in overemphasizing frugality. A dollar not spent can provide future security, but a dollar well spent can provide a lifetime of joy. Of course, balance is important—no one should spend recklessly. But the best financial plans don’t end with the largest possible inheritance. They end with a life fully lived. It has never been easier to book a trip with those you love. Call (not text) your old friends and plan a weekend getaway. Offer to foot the bill. Do it. I’m begging you. It all comes back to this equation: people you love + experiences = spend the money.
As an advisor, I see my role as more than just a guide for financial well-being. I’m here to help clients see the value of their wealth in human terms. How can we use these resources to create moments of connection? To ensure that when they look back, they see a mosaic of shared experiences, not just a ledger of unspent dollars?
The truth is, no matter how much money you have, time remains the scarcest resource. And when time is short, spending money to make the most of it is one of the wisest investments you can make. Whether it’s taking a dream trip with your spouse, buying a home closer to family, or simply prioritizing moments that matter, the joy in spending is often not about what you buy, but whom you buy it for.
Warren Buffett, with a net worth hovering around $120 billion, could buy almost anything he wants. But there’s one thing even he can’t buy: time. And that’s why, despite his immense wealth, no one of sane mind would willingly trade places with a 94-year-old man.
Time is the only currency we spend without knowing the balance left. It’s a bank account where withdrawals are automatic, but deposits are impossible. No matter how frugal or strategic you are, your time account depletes every second, and unlike money, there’s no earning it back.
When people say they wish they had Warren Buffett’s wealth, what they truly desire is his financial freedom—not the years that come with having built it. They want the ability to travel the world, spend time with loved ones, and pursue passions without financial constraints. But they want to do it with decades ahead of them, not at the tail end of life’s clock.
Imagine someone offering you $120 billion today, but the catch is you’d be 94 years old. You’d trade youth, health, and time with your kids or grandkids for yachts and jets that might not matter as much when your mobility and energy are limited. You’d exchange the potential of decades of experiences for a near-term horizon. Very few would make that trade.
The paradox is that while money is a renewable resource—more can always be earned—time is not. A young person with no money has something infinitely more valuable than wealth: the potential of years ahead. That potential allows you to make mistakes, explore, learn, and grow. It gives you the freedom to imagine and to act on those imaginings. It’s why, for most people, trading places with Buffett would be an unfathomable choice.
This isn’t to say that Buffett’s age diminishes his life’s achievements or joy. He remains active, engaged, and sharp. But the comparison serves as a reminder of what true wealth is. It’s not measured solely in dollars but in how you spend the time you have. It’s the difference between being rich in assets and being rich in life.
The real goal, then, is not just to accumulate wealth but to use it wisely while you have the time. To invest not just in stocks and bonds but in experiences and relationships. To recognize that the clock is always ticking, and every moment spent well is a return on investment that no market downturn can take away.
In the end, the value of money is in how it enhances your time. Because while you can always make another dollar, you can never make another minute.
Wealth isn’t just about what you leave behind—it’s also about how you use it to support your life and goals. And nothing makes me happier than seeing clients who understand this—who invest in love and experiences, knowing that the return is priceless.
In the actual end, whether you’re surrounded by the warmth of family at home or lying under the sterile glow of hospital lights, it won’t be the year your portfolio lagged the S&P 500 that haunts your thoughts. What will fill your mind are the moments that made your life your own—the echoes of your children’s laughter, the hazy joy of that extra Aperol Spritz in a hidden corner of Florence, the way the sun felt on your skin during a perfect afternoon fishing with old friends. It will be the experiences that proved wealth is not just measured in dollars but in days well spent. So, spend the money.
Disclosures: The information provided in this article is for educational and informational purposes only and should not be considered financial, investment, or tax advice. Any references to investment performance, financial strategies, or personal anecdotes are general in nature and may not be suitable for all individuals. Investing involves risk, including the potential loss of principal. Past performance does not guarantee future results. Financial planning should be tailored to individual circumstances, and readers are encouraged to consult with a qualified financial professional before making any decisions regarding their wealth, investments, or financial future. This article may contain hypothetical scenarios intended to illustrate financial concepts. These examples are for illustrative purposes only and do not represent actual client experiences or recommendations. Individual results will vary based on unique financial situations. Any mention of third-party individuals, companies, or financial figures, including Warren Buffett, is for illustrative purposes only and does not imply endorsement or affiliation. The views expressed herein are those of the author and do not necessarily reflect the views of any financial institution, advisory firm, or regulatory body. Howe & Rusling is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training.
