Base all financial decisions on what you anticipate you will regret in the future, as a well-calibrated sense of future regret is crucial for long-term well-being with money. This involves considering if you will regret spending, not spending, making, or not making an investment.
Reframe the pursuit of wealth as a means to achieve independence and purpose, rather than money being the end goal itself. Money is a tool to gain autonomy and the freedom to pursue what truly matters to you.
Steer clear of extreme financial planning, such as saving 90% of income to retire very early or engaging in high-risk, YOLO-style investing. These extreme approaches are most likely to lead to future regret.
View every dollar not spent as an investment in your future independence, not just idle money. This mindset helps you appreciate that saving provides marginal increases in autonomy and choice over time.
Focus on developing “eulogy virtues” like being a good parent, friend, or community member, rather than solely chasing “resume virtues” such as high income or prestigious degrees. Reflect on what you want your obituary to say and live backward from that vision.
Strive to exit careers or significant life endeavors on your own terms, maximizing independence and autonomy over your schedule. This control over your departure significantly influences how fondly you remember the experience.
Avoid letting professional titles, financial status, or other external metrics define your core identity. A small, flexible identity makes it easier to adapt, change paths, and prevent money from becoming a psychological liability that controls your life.
Identify and tap into the underlying “verb states” (e.g., learning, creating, exploring) that genuinely motivate you, rather than focusing on specific professional titles or external rewards. This self-rewarding energy is key to sustained engagement and creativity.
Recognize that everyone’s financial decisions make sense to them based on their unique life experiences, upbringing, and circumstances. Adopting this perspective can reduce cynicism and foster a more personalized approach to your own money management.
Be aware that money can become a psychological liability when it’s deeply ingrained in your identity and starts controlling your actions, rather than serving as a tool. This often manifests as an addiction to having more, even beyond what’s needed.
Seek rewards that are preceded by effort, as dopamine spikes that occur without effort (e.g., lottery wins) can be less fulfilling and potentially dangerous. Genuine achievement through hard work leads to more sustained satisfaction.
Make a conscious effort to create and spend unstructured time with your loved ones. This type of quality time is often remembered as the most valuable and meaningful aspect of relationships.
Actively manage your social media usage to prevent compulsion and significant time drain. Consider strategies like using a separate device or setting strict limits to avoid being pulled into endless scrolling.
Teach children about money and values primarily by leading through example in your own financial behaviors and choices. Kids are highly observant and will internalize lessons from your actions more effectively than from direct instruction.
When guiding children, always lead by example and avoid actions that could humiliate them or make them feel inferior. Such approaches can foster resentment rather than positive lessons about grit or independence.
Maintain a consistent lifestyle with your children, especially regarding experiences like travel or purchases. Disparities (e.g., parents flying first class while kids are in coach) can inadvertently teach children feelings of inferiority or resentment.
Dedicate time to regularly reflect on your personal goals, values, and aspirations, recognizing that these will evolve. This ensures your financial plan remains aligned with your changing self and life circumstances.
Wear Roka red lens glasses in the evening after dark to filter out short-wavelength light from screens and LED lights. This practice helps calm your brain and improves the transition to sleep by preventing melatonin suppression.
Consider using Wealthfront for a high-yield cash account to earn 4.25% APY on deposits. This provides a secure way to grow savings while maintaining liquidity for future spending or investing.
Explore BetterHelp for professional online therapy with a licensed therapist. This offers a convenient and time-efficient way to access emotional support, guidance, and insights for overall mental health.
Utilize Function Health for comprehensive lab testing of over 100 biomarkers related to physical and mental health. The service provides personalized insights and doctor-informed recommendations based on your results.