From:
Jason Stapleton
Scottsdale, AZ
Monday, 4:15 a.m.

Hello again my friend,

In the everyday pursuit of your dreams, money is no doubt part of the equation.

We need capital (or cashflow) to fund almost everything we do. And I would never suggest you ignore the value or utility that money can provide.

But last week I was chatting with a friend when Charlie Munger came up. Charlie was the long time friend and business partner of Warren Buffett. He died last week at the age of 99.

My friend asked me, “Ok J, here’s the question…would you trade places with Warren Buffett if you could?”

“You mean like the movie Trading Places?” I asked.

“Yeah, exactly like that. He jumps into your 44 year old body and gets to live your life and you get his life.”

It took me less than 2 seconds to respond.

“No.” I said. “Not for all his billions.”

Time is Our Greatest Resource

What about you? Would you trade places with Warren? He’s 93 years old and worth 117 Billion dollars.

Would you give up your life, your health, all the experiences you’ve yet to have for 117 billion dollars?

If you said no, you’re in the majority. I don’t know anyone who would trade away their life for a big pile of money.

Yet so many of us delay doing the things we want because we’re busy storing up cash for some later date.

I’m not saying you shouldn’t plan for retirement, or squander every penny you have today without considering the future. But there are seasons to life. And at each season there are things you’ll never have the opportunity to experience again.

As we age we lose the ability to do many of the things we dreamed of doing. Either because of poor health or simply because time passed us by.

One of mine was to backpack through Europe. When I got of the Marines I made plans with a friend to spend 2 months traveling through Europe. We were both broke but we were young with no responsibilities.

It could have been a life altering adventure. But I never did it. I came home after being discharged and started working. A few years later I was married and not long after that my first daughter was born.

By the time I was 26 I had a wife, a mortgage, and a baby. Backpacking through Europe was no longer an option.

And yes, I know I could do it now. But it would be a completely different experience. No amount of money can buy the memory of my friend and I, traveling together. No responsibilities, no commitments. It’s an experience you can only have as a young person.

Life if full of those missed opportunities. As we age, the money in our bank accounts becomes less and less valuable. Don’t spend the best years of your life storing up wealth thinking one day you’ll have enough to relax and enjoy it.

If you asked Warren Buffett if he’d give up his billions to be 44 again what do you think he’d say? Would he trade 117 billion dollars to get 49 years of life back? I think he would.

Keep that in mind the next time you trade away an experience to maximize your retirement contributions.

You’ve got one life. Optimize for fulfillment.

To be continued,

Jason

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