The reason why you are more likely to regret spending money on a material good vs. an experience is that you get reminded about the material good more often. Eat at a bad restaurant and you can forget about it. Buy a fancy watch that you regret and you'll see it all the time.
@dollarsanddata I bought a new Rolex for $12,000 in Vegas at the Rolex store. Always wanted one, or so I thought. I never wore a watch before. I wore it 6 times. Put it in the closet for years. Traded it in for $6,000 to watch dealer. Best offer I could find. Removed regret by selling it! 😊
@dollarsanddata And we don't realize that memories are a more powerful contributor to joy than physical materials. Methinks its a caveman thing related to needing specific stuff to survive. Our brains are closer to cavemen mode than internet mode.
@dollarsanddata We wonder if this holds true for homes. Unfortunately, with the cost of housing rising dramatically over the last few years, many would-be homebuyers have been priced out of the market:
@dollarsanddata We wonder if this holds true for homes. Unfortunately, with the cost of housing rising dramatically over the last few years, many would-be homebuyers have been priced out of the market:
@dollarsanddata Who even needs to buy a watch in today's world
@dollarsanddata Experiences are the gift that keeps on giving. Good memories last forever.
@dollarsanddata @Jesse_Livermore This is spoken like a guy that’s never taken his kids to to Disney World.