Jonah's Journal (Don't save money until you're 27) 💸
Welcome back!
Today's main point is about money. I know this can be a tricky topic, so I just wanted to give notice about about the nature of the content that follows. Proceed with the knowledge that I can only give so much nuance in such a short format, and that what follows is not financial advice and is for entertainment use only. Thanks again for reading!
Don't save money until you're 27
I recently had the chance to speak with a family friend who is a massively successful financial advisor, and was taken aback when he said (paraphrased for clarity):
"I don't care if you don't save a penny until you're 27. Use your time and money you have now to build up the behaviors that will serve you when you're actually making enough money for saving/investing strategies to be viable".
While I've used his exaggerated statement for the sake of an interesting title, I'm going to break down an approach to spending that I've found useful in relieving my anxiety about saving.
Optimizing for happiness instead of price
The approach that traditional personal finance focuses on for better money habits is "optimizing for price". This is an approach to spending that prioritizes the price of the thing you're buying before anything else.
"Optimizing for happiness" is an approach to spending that prioritizes the quality and enjoyment of purchases that are in precise alignment with your intentionally chosen priorities and values.
While this spending philosophy can't be exercised with all of your purchases, optimizing for happiness in alignment with your intentionally chosen priorities will help you:
- Make high-quality purchases that result in longer term satisfaction.
- Not overspend on things that don't align with your lifestyle.
- Let go of your white-knuckle grip on your wallet and enjoy the results of your work.
This is not about making hardline rules to optimize your spending. Rather, it is about working to practice intentionality in a market optimized for impulsivity.
Media I consumed this week
A Balanced and Complete Life (link)
A man smoking a cigar gives a unique perspective on the connections between the body, the mind/soul, and the spirit. I found this concept strikingly similar to what author Ryan Holiday talks about in this book Stillness is Key (which I highly recommend you read).
Why the career of the future requires a portfolio approach (link)
An insightful article on how the fragmentation of our lives across many communities and organizations (enabled by the internet) has altered the career landscape and given rise to more independent workers than ever.
Final thoughts
I'm in the middle of moving, and I am writing this newsletter from a mattress on the floor. Even though I'm not sure what I'll be sharing with you next week, I'm so excited and thankful that you're here.