”The ultimate of being successful is the luxury of giving yourself the time to do what you want to do.” – Leontyne Price
Hi WF Family,
There is something I wanted you all to think about as you work towards attaining your financial goals and lifestyles, by whichever medium. What is it you are hoping to attain?
Is it the capability to have assets? Luxurious goods? Copious amounts of vacations? The capability to gift things and to take care of your family? Giving to charity? What is your end goal?
For me, it is all of those things. But I got to thinking a few days about a particular one that has been bothering me for some time. The luxurious goods part.
As a child, I had access to a lot and never felt like I was missing out on anything. As I got older, by reading GQ magazine, Luxe magazine, Sotheby’s, and others of the likes, I began to desire a quality of life that I didn’t realize I could attain. I fell in love with luxury and what it represented. Fine jewelry, luxury watches, natural fabrics, these things excited me and I wanted them.
In my late teens, I began actively working towards the lifestyle I wanted for when I turned thirty. I expected to be financially wealthy and I still do. But what was now attached to the financial security I desired, was the materialistic objects that would make it obvious to others of where I was in life.
This is where a problem can arrise. It became a thin line between me genuinely loving luxurious things because of the craftsmanship and me loving those things because of what they represented to society. As I started earning some decent money, I would buy some of the brands that were ostentatious, like Gucci. I did not buy the subtle objects. No, I would buy, for example, the Gucci bag with the ”GG” all over it. At that time, I did not think I was buying it for societal approval, but after selling it a year later, I realized that I really did not even like that bag. As a matter of fact, I didn’t feel comfortable with it when I was around others who could not afford it.
What made me really consider my values and what my goals were in life was me moving from Canada to England. Once I arrived here, I began travelling Europe with my partner, eating at the best restaurants, and seeing how one can enjoy their life by activity, not by materiality.
What I found out about myself is that what I want to spend my money on are things that excite me and make me happy. Not what others will consider to be me ”making it”. What I love is travelling (not vacations, because my day-to-day life isn’t something I need occasional escaping from), investing, real estate, yachting, eating international foods, a little bit of fashion, horology, collecting vinyl, films, writing, and very few other things. So what I am working towards is being able to have the capability to do these things all the time – regardless of the price. Not just once in a while, but at all time. Because, it makes ME happy. Spending an extended period away from everyone and only being with yourself and/or your partner will truly help you figure out who you are and what you actually want and desire in life.
Consider this: If every material thing in the world could cost you one dollar, would you still desire the things that currently cost thousands? If you walked into Louis Vuitton and saw a simple bag going for $1 and everyone knows that it is only $1, would you still long for that bag knowing that it has no societal value? Would you make it a goal of yours to be successful in life just to buy that bag?
To take it even further, if there were no such thing as ”social media” and no way for others to see what your lifestyle is, would you still desire the lifestyle and material things that you currently want?
Think about that.
Until next time,
Live Long and Prosperous.
Value Investing Millennial Jahnome McEwan provides FIFTY tips for Young Adults looking to build wealth from now. If working a 9-5 until retirement twists your stomach, Jahnome has a way to get you out of it!
Click here if you are interested in learning how!
Follow my Facebook Page for Post Updates and Events.
This website and its contents are solely opinion-based. The information provided does not constitute investment advice. Accordingly, due to the information on this blog only being of personal opinion and experience, it should not be considered professional financial decision advice. The ideas and strategies expressed should never be considered without first assessing your personal and financial situation, or without consulting a financial professional. My thoughts and opinions will change over time as I learn and accumulate more knowledge.