Friends,
Thirty-three years ago, Bill Murray's hit Groundhog Day was released in theaters. In it, a local reporter is forced to relive the same day hundreds of times before -- finally -- figuring out the point of life.
And what is the point of life?
We won't spoil it for you. But our friend Morgan Housel has long argued that there are four key ingredients to a life well-lived:
- Autonomy
- Relationships
- A meaningful pursuit (and progress in it)
- Health
Notice that nowhere is "money" or "wealth" mentioned. Sure, it's easy to see how money helps enable autonomy and, in certain circumstances, maintain one's health.
But the connection between the two is tenuous.
When European settlers kept moving west and encountered indigenous tribes, a funny thing kept happening. As documented by author Sebastian Junger:
Colonists β white people along the frontier β very often ran off to join the Indian tribes. Or they were captured and adopted into Indian tribes, and when given the chance to be repatriated, they wouldn't go...The reverse almost never happened.
Why was that? The settlers found that their core needs (beyond a basic level of physical necessity) were better met in one environment than another.
Does that mean we're encouraging you to run out and join a tribe?
Don't be ridiculous.
Instead, we invite you to consider what Bill Murray's character had to figure out: what would your perfect day look like?
It doesn't need to (and probably shouldn't) involve any enormous accomplishment. Instead, you'll probably do best to consider how those four needs above can be addressed in a sustainable manner.
Once you've got that part figured out, then ask yourself a simple question:
"Is there any way that spending money might make any of this easier?"
That, over the long run, is the only reasonable use for money.
It's an investment we don't think you'll regret.
Wishing you investing success,
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Brian Feroldi, Brian Stoffel, & Brian Withers
Long-Term Mindset
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P.S. It's Official, we are splitting up our YouTube Channel. Brian Stoffel is starting a new channel that will cover earnings, his portfolio moves, and more. Subscribe to his new channel by clicking here.
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