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If Charlie Munger was right about this, why does it feel so wrong?
Published 1 day ago • 4 min read
We just spent almost $10K booking flights, hotels, and experiences for our upcoming London and Scotland trip. And then there's the food, drink, transportation, and souvenirs we'll buy. My saver brain is melting: "That's a bathroom remodel! That's more stocks! That's... that's..."
Our net worth just took a five-figure direct hit, but check this out:
"If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation."
-Charlie Munger
That Charlie quote is burned into my brain, and I am following his advice, but I also feel like I've committed financial heresy.
Last week, I posted a YouTube video about our $10,625 in annual dividend income across our portfolios. And now I'm spending almost exactly that amount on a 10-day adventure. The irony isn't lost on me.
In investing, sometimes companies like Costco (which paid a $15 special dividend in 2024) have so much excess cash that they give it away because they can't find better investments. After 38 weeks of saving $300 every Friday in a high-yield account, we've got our own "excess cash" - and I believe our best investment is in memory-making.
In 2023, our Ireland trip cost us just north of $10K, but you know what's wild? The memories from that trip have actually appreciated. My wife, our two teenage daughters, and I still laugh about a Dublin red fox that suddenly crossed our path walking back from a LIDL with the remains of a 955-year-old house under its floor! I think those memories have returns better than any dividend stock we own.
Not our red fox, but exactly like this!
My grandma lived to 95—almost Warren Buffett's age now. She'd tell me about working at Marshall Fields in the 1940s, selling a scarf to Hedy Lamarr, dancing with soldiers days before they shipped off to WWII, first dates with my grandpa around Chicago, and starting her family. She also went 95 years without leaving the contiguous U.S., which was her one regret. She never once told me she wished she'd spent less money on experiences.
We save 36% of our income and are very intentional about it. Thirty-eight weeks of $300 per week got us this trip money. We skipped date nights, cooked at home, and played board games instead of going out. But hitting that "pay now" button still felt painful!
Someone once told me, "Always choose a trip over a remodel. Remodeling can wait. Making memories with your family can't."
When I'm old, what stories will matter? The year we maxed out our 401(k) and ROTH IRA investment accounts, or the spring we spent my wife's birthday wandering Edinburgh's narrow alleys and found that amazing little pub?
Charlie Munger would get it. At least that's what I tell myself to stop second-guessing this decision.
Am I crazy for feeling this way? What keeps YOU up at night - the money you're saving or the memories you're not making yet?
That's it, and I'd love for you to reply and let me know if you've ever spent big on travel and felt terrified and excited. I'll respond to every reply!
😁THANK YOU to all who responded to the last newsletter!!
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Each week you'll learn how to be a better dividend investor and follow the journey of a welder with a passion for passive income to $1,000,000 and beyond.
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