Friends,
Saul Bloom was a key fixture in the Ocean's heist movies made popular by George Clooney, Brad Pitt, and Matt Damon. Bloom was the oldest member of the group, often playing the part of a wealthy tycoon.
In Ocean's Twelve, the group is trying to convince Bloom to join them once more, even though he's in retirement. That's where he says:
"You're all aces in my book, but I want to last check I write to bounce."
Let's pause for a minute and reflect on what Saul means with this line, and how it can relate to your own life.
As young professionals, all three of us were frugal: we spent far less than we earned; we saved and invested the difference. It made sense to do this in our 20's: growth from these investments could make us financially independent for the majority of our adult lives.
With the passing of time, the math and logic of this approach changed. We started families; our parents got older; loved ones started to pass away. With a combination of hard work and luck, we were no longer concerned with having to work a job we hated to make ends meet.
It can be difficult, however, to shed the mindset of frugality that got us to where we are today. That's why Saul's quote is so important. It reminds us of an unshakable truth:
Investing is a tool to improve your larger life. Your larger life should never be subservient to investing.
If Saul had money, he was going to use it to enjoy his time.
Yes, passing on a legacy to your heirs might be important. And yes, being able to pay for care in old age is important.
But so is spending money to enjoy time with your loved ones. And that can be easy to forget if you're wrapped up in investing 24/7.
Perhaps we don't say it enough, but it bears repeating: the greatest long-term investment you can make is quality time with the people you care most about.
Wishing you investing success,
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Brian Feroldi, Brian Stoffel, & Brian Withers
Long Term Mindset
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