Transcript
Sponsor Representative (0:00)
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Jackie Lamport (1:06)
There is one thing that pretty much every single founder we have spoken to has said once they have bought it, they could never go back. You see, making money is one thing, and for a lot of people in our community, it's actually kind of the easy part. The hard part or the weird thing is what happens next, which is figuring out what to do with it. From the outside, it seems obvious. Get the car, get the designer clothes, deck out the house, maybe the boat. Or the watches. God, the watches. The problem though is that everything that you buy is another thing that you're responsible for. And everything that you're responsible for is, well, another thing that you're responsible for. And not only that, but the things that cost money, they might not actually make you feel good or like yourself. We had one guy on the show who talked about he. He bought a souped up Tesla and he was driving it around and he just felt like such a tool. So he eventually just got rid of it and bought a regular pickup truck, which felt way better for him. That doesn't mean that there aren't things that are worth spending on. In fact, there are a few things that have consistently come up on the show where everybody has said, yeah, that 100%. But if you're new here and you're wondering who those people are, it might make sense if I explain it a little bit. This is Moneywise, a podcast for High Net with founders over@joinhampton.com and that means it's a podcast, not for people who are trying to break into business or get rich. This is for people who already have and what comes next. And I'm Jackie Lamport, the producer of the show, which gives me a funny perspective because I have outsider objectivity and also insider access in the form of over 150 interviews I've done with founders for the show and also the network of founders of over a thousand people@joinhampton.com which means that I can kind of act as the collective perspective of these things. And in this episode, that collective perspective has decided on five luxury purchases that are actually worth spending your money on, Starting with something that sounds physically impossible to buy time. And yeah, I'm not talking about the watches. You might be able to tell how I feel. What I am talking about is buying back the time that you spend doing things that are tedious or unenjoyable so that you can spend more time doing the things that you do want to do. That means the housekeeper, the private chef, the personal assistant, that kind of stuff. There are obviously a lot of benefits to that, like, you know, personal enjoyment. I would spend all day playing guitar if I could. Or spending more time with your family. That's also probably a good idea. Also maybe just like putting it back into work so that you can really up that financial roi. And there's also the benefit of removing friction in your household. So there's no conversations about, did you do that thing yet? Or you should have done that thing, or why are you doing that, not me, that kind of stuff. And on the chef thing specifically, if you're anything like me and you hate cooking, it means that you get to have three healthy meals a day, which is healthy. I know that it can be a really fun thing for some people and food can be great, but I swear to God, for some of us, it's the most annoying thing in the world because you can never stop thinking about it, which means that you are also buying back some mental space. Now, if you thought that I was going to go through this whole list and not also list the caveats, then you clearly don't know me very well yet, because there are always trade offs. The first one here being for the people who aren't like me and do enjoy cooking, because somehow there are a lot of you. So, yeah, there are two risks here. One is that you accidentally end up getting rid of the meditative time that you didn't realize was meditative or restorative because it doesn't sound like it should be like cooking or honestly for me, cleaning the bathroom. Getting more time back means that you also have the potential opportunity to push yourself maybe a little bit too hard because you still want to make something of that time. Restorative and easy things are important. So if you're buying your time back, just make sure that you're also still making room for that kind of stuff. The other risk is that you make life a little bit too easy. Being a well rounded person does mean being disciplined and doing some things that maybe you don't want to do sometimes. Take it from Tommy Mello, discipline's one