Recently, James Conole challenged listeners to act on something they’ve always wanted to do or buy. The responses were inspiring and highlighted an essential truth about personal finance: money’s most meaningful use isn’t investment strategies or tax planning—it’s about spending on experiences that truly matter.
While making money is important, it’s equally crucial to understand that wealth isn’t just about accumulation—it’s about using it to create lasting memories and experiences that align with your values.
Many shared their commitments after listeners were asked to write down their desired purchase or experience, set a date, and identify funding sources. Their stories reveal how people transform financial resources into lasting memories and meaningful experiences.
Real Stories of Purposeful Spending
One retiree, Darrell, spent a month ice fishing with his son in Northern Wisconsin. Another family traveled from Arizona to watch their first Washington Commanders football game, timing it with their son’s 20th birthday. These experiences created lasting memories that far outweighed their monetary cost.
A particularly moving story came from a couple in their third year of retirement. Motivated by recent family health diagnoses, they’re actively booking multiple trips through 2027. Their situation underscores a critical point: waiting for the “perfect time” can mean missing opportunities entirely.
Taking Action Now
Several responses demonstrated the importance of acting sooner rather than later:
- Ron moved up his family vacation plans by two years to ensure his 80-year-old mother could participate
- Harvey, at age 72, booked a diving trip to the Red Sea and planned to visit the Pyramids
- Jerry organized an eight-night cruise for his entire family and started sharing inheritance money early
Different Forms of Joy
Not all meaningful expenses involve travel. Lois shared how getting a puppy transformed her life, despite the ongoing costs. The joy of daily walks and companionship proved invaluable, showing that meaningful spending can take many forms.
The one thing we hadn’t really considered was how exactly to optimize that travel. But after a little thought, we wanted to put more focus on trips with our grandchildren who are now four and seven years old.
Lee’s story about optimizing retirement travel to focus on experiences with young grandchildren demonstrates how aligning spending with personal values can enhance the impact of our financial decisions.
The Urgency of Now
Perhaps the most poignant response came from someone who lost their spouse before they could implement their retirement plans. This sobering reminder emphasizes that we aren’t guaranteed tomorrow, making it crucial to balance future planning with present enjoyment.
The key distinction isn’t about spending more money—it’s about spending intentionally on what truly matters to you. While making money is essential, spending that money purposefully is just as important, creating meaningful experiences and lasting memories. When we align our spending with our core values, we create the kind of impact that justifies our careful financial planning.
Frequently Asked Questions
Q: How can I identify what spending would be most meaningful to me?
Consider what activities or experiences bring you the most joy and satisfaction. Think about moments you’ve cherished in the past and what made them special. Often, meaningful spending involves sharing experiences with loved ones or pursuing long-held dreams.
Q: Should I prioritize current experiences over saving for retirement?
The goal is to find a balance. While maintaining retirement savings is important, postponing all meaningful experiences until retirement could mean missing valuable opportunities. Consider creating a specific budget for meaningful experiences while maintaining your long-term financial security.
Q: What if my desired experience seems too expensive right now?
Start by identifying the total cost and potential funding sources. You might be able to save specifically for this goal, use bonus money, or find creative ways to reduce the cost. Sometimes, modifying the experience rather than eliminating it can make it more financially feasible.
Q: How can I ensure my spending aligns with my values?
Review your recent spending and ask yourself if each expense brought lasting satisfaction. Consider creating a values-based spending plan where you allocate money first to experiences and items that align with your core values and priorities.
Q: What if I’m worried about regretting a large expenditure?
Research shows that people rarely regret spending on experiences, especially those shared with loved ones. Before making a significant purchase, consider its long-term impact on your happiness and whether it creates lasting memories or value in your life.
