Selling Your Future
"I feel like we sold our souls."
Those were the harsh and horrifying words from a couple I met with. The topic of discussion? Their multitude of debts: student loans, cars, and a HELOC. They followed society's game plan perfectly, and here they sit, living a reality millions of people experience every day.
They got the stuff they wanted and are living the lifestyle they desired, but at what cost? It all felt good in the moment, but at 40, they're starting to gain a sense of clarity. The clarity? It might not have been worth it. As they sit, their options are limited. They had some other dreams in life, but at this point, it all feels so unattainable. The debt weighs heavy.
No, they didn't sell their souls. But in a very tangible and sad way, they sold their future.
Here's how I often look at money. Every dollar invested gains control of a piece of our future. Conversely, every dollar of debt we incur gives up control of a piece of our future. It's a scoreboard that continues to track our progress, but we don't actually know what the score is until decades later. By the time our fate becomes apparent, it's too late to alter it.
Using debt to get what we want now is effectively selling our own future. I believe this about every debt in our lives except the mortgage on our home, but then again, I'm starting to see people make decisions about home ownership that are destructive to their future as well.
That fat car payment? You're literally driving your future.
The fancy tools, gadgets, and furnishings put on a credit card? Your future will be sitting in a landfill soon.
That pool you installed with the HELOC? You're doing cannonballs into your future.
Every week, I sit face-to-face with couples that are absolutely crushing it on the income front. They make more money than most people can ever imagine. However, month by month, I'm simultaneously watching them lose control of their future. Their present looks so very good, but their future so very scary. And the truth is, it's hard to adequately explain to someone who feels so good about their present that their future looks bleak. In fact, it's one of the most challenging endeavors I've ever encountered in this career.
No, I don't want people to live in squalor. I don't want people to live a life void of wants or fun. I'm not trying to be the enjoyment police. If you're a regular reader, you know how much I encourage and advocate for spending money on things that add value to our lives. Instead, I'm trying to warn people about the inadvertent dangers that lurk ahead when we voluntarily give up control of pieces of our future. Bit by bit, drip by drip. It feels so innocent today, but one day, unfortunately, it might not be.
Seize today! Wring every ounce of meaning and awesomeness out of today. But please don't sell your future. Your future self deserves better.
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