And Just Like That

Do you remember that one time when the stock market was collapsing, everyone's retirement accounts were a dumpster fire, the end of our economy was upon us, and the world was essentially in a death spiral? Yeah, I remember that moment five weeks ago, too.

Just mere weeks ago, I received dozens of calls, texts, and messages from panicked friends, family, and clients, asking if they needed to sell out of all their investments. I gave them the same answer I've given everyone who has asked me this question for the past 20 years: "Don't do anything. It's fine. This is supposed to happen."

From February 19th through April 8th, the U.S. stock market fell by 19%. Some called it a collapse, or a crash, or a tailspin, or a meltdown. But in any event, it decreased by 19%.....people lost roughly 1/5 of their life savings. The media loved it!

Today, just five weeks later, the stock market has erased all the losses experienced since the beginning of the year. That's right, the stock market is UP for the year. As of last night, the U.S. stock market is up 0.6% for 2025. It's also up 11.5% in the previous 12 months.

Don't worry, though! There will be another reason for all of us to freak out next week. We'll find another debacle, dilemma, or disaster to point our finger at, swearing "This time, it's different!"

As for me (and hopefully those I have the privilege of serving through my coaching), we'll just be chillin' in our own little pieces of the world, staying busy living meaningful lives, trying to create impact on others, and losing zero sleep over all this stock market noise. Come join us!

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Line In the Sand

I made a lightning-quick trip to Los Angeles to give a talk earlier this week. The event was awesome, and the audience was tremendously engaging. In my closing remarks, I said out loud what most people were probably thinking. Every person in that room has made destructive and painful financial mistakes, whether they know it or not. It’s okay. That’s life. It happens. My plea to them was to give themselves grace. We can’t jump into a DeLorean and go back in time. The past is the past. The ONLY thing that matters is doing better today, tomorrow, and the next day. Every single mistake (financial or otherwise) they’ve made is a mere paragraph in their larger story. 

Regret, remorse, and guilt are inevitable human feelings. None of us can fully escape them. However, each of us can decide what to do with them. If we dwell on it, we will perpetually prevent ourselves from doing better in the future. We will fixate on the past, wallow in the pain it’s caused us, and continually beat ourselves up, wondering what could have been. The alternative, though, is to recognize what happened, learn from it, grow, and commit to doing better in the future. 

Every time I sit down with a new client, I ask them to draw a line in the sand. Where they are today is where they are…..period. Everything that’s happened in the past is in the past, and they are the author of what happens from today forward. People who can do this will thrive, while those who can’t will inevitably repeat history. 

Draw a line in the sand today. Whatever garbage is haunting you, financial or not, put it in the past. Today is a new day, and today is a great day to set a new course. A huge thanks to my friends in Los Angeles for hosting me,  and I couldn’t be more excited for that wonderful group of people I spent that evening with. This is where things get good!

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"I Think I'm a Flourless Cake"

I received an e-mail with the following subject line: "I think I'm a flourless cake." It was a callback to a recent blog post, where I used an analogy of baking a cake with all sugar and no flour, you know, because sugar tastes awesome and flour tastes gross. In my illustration, this is the equivalent of living a life that heavily overweights leisure and relaxation (the sugar) vs. work and impact (the flour). Just as a cake baked with all sugar would be disgusting, so too is a life built primarily around leisure and fun. The sugar is what makes life taste good, but the proper ratio of flour is what makes it moist and delicious.

The writer of this e-mail explained to me how much my flourless cake analogy struck him. It was almost as if I was staring into his soul. He said his family and personal life are amazing, but he hates his job. He's one of those people who craves Fridays and hates Mondays. But that's ok, he thinks to himself, as his crappy work situation doesn't define him.

This has led him to the point, like so many others, of glorifying retirement in the pursuit of far more sugar and much less flour. After all, sugar tastes good and flour tastes gross. In his mind, if he can just make as much money as quickly as he can, so he can invest as much money as quickly as he can, he can retire as early as he can. Boom, problem solved.

Enter my recent blog post, a "wake-up call," as he puts it. Is swimming in misery for the sake of expediting a retirement really the most meaningful approach to life? Until recently, he believed so. But then, as he thought about what actually makes life meaningful, this idea of merely living a life of leisure sounds equally unappealing. His twisted perspective is setting himself up to endure many more years of misery, followed by a meaningless life of leisure.

What's the solution? Here's what he said. "Maybe you're right. Maybe I need to just live a meaningful life right now. It's hard to quit racing toward retirement, but maybe I'm defining success in the wrong way."

A meaningful life isn't defined by money, stuff, status, or a retirement age. It's defined by having the right ratio of sugar and flour. It's waking up each day knowing today is going to matter, and going to bed at night excited for what's to come tomorrow. Not just two days per week, but every day.

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Losing Battles, Winning Wars

My boys suffered a heartbreaking loss on the football field on Saturday. It was the final pre-playoffs game of the year, and the kids couldn’t have been more excited. From the get-go, it just wasn’t their day. Their team made decent plays, but couldn’t stop their opponent to save their lives. They were somehow blessed with an opportunity to take the lead late in the game, but conceded a pick-six interception in the final few minutes to seal the defeat. They lost the battle, and it was a painful loss. 

However, I’m not in the battle-winning business. I care more about the war. A single game is a battle. We win some and we lose some. That’s life. My bigger focus was on the war. I want to see the bigger picture, the more life-altering impacts.

Early in the season, Pax would celebrate touchdowns with audacious celebrations, resembling his Madden shenanigans. He’d spike the ball, griddy, or do a group celebration with his teammates. One of my encouragements to him is to handle himself with class and professionalism. “Act like you’ve been there before.” He scored two touchdowns and two two-point conversions during this weekend’s game, but instead of showboating, he casually handed the ball to the ref and hugged his teammates. The war!

Finn isn’t the same type of athlete as Pax. While Pax is constantly in the limelight, Finn struggles to find his place. He hasn’t quite yet figured out his body and how to put the physical pieces together. He lacks confidence. He doubts himself. It doesn’t help having a twin who excels in all things sports. At Finn’s request, he plays all-time defense, stemming from his hesitation to run, catch, or throw a ball. During the first six games of the season, he had just one tackle (i.e. flag pull). However, on this fateful day, the day we experienced a heartbreaking defeat, he had a few monumental moments. He snagged his second tackle of the season, saving a touchdown. Then, on the very next play, he INTERCEPTED a pass in the endzone to create a game-relieving turnover. His confidence is building, and he’s giving it everything he has. The war!

Pax is known to be short-tempered and infuriated by losing. While the outcome of the game was a mess and constantly frustrating, every step of the way, he was encouraging teammates, helping opposing players off the ground, and celebrating other people’s wins. The war!

Yeah, that game sucked. We lost the battle. But it feels like we just might be winning the war. 

Don’t let your battle losses deter you from focusing on the war. So many people I work with are losing battles every day, every week, and every month. Life is kicking hard, and it gets exhausting. Job losses, medical emergencies, car trouble, business stress, house maintenance issues, relational tension. It’s okay to lose battles as long as we keep our eyes focused on the war. Whatever this means to you today (and I have a feeling you know), don’t elevate the battles above the war. It’s okay to lose a hundred battles if we eventually win the war. Keep fighting. 

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(Not) Doing It For Free

I casually ran into one of our Northern Vessel baristas yesterday, which is always a treat. In our conversation, I congratulated her on an amazing day at the farmer's market. I applauded her hard work, contagious vibe, killer hospitality, and ridiculously fun paycheck. She thanked me and shared how much fun she had. She said she wishes she could do it every day. Regarding the rewarding payday, she said she's grateful......but she loves it so much she'd "do it for free."

That's a tell! I laughed at her response and told her I know exactly what she means. I couldn't love this response more! The best work is the work we'd do for free if we could, but at the same time, we get to provide for our family while doing it. That's what it looks like to thread the needle of work that matters.

She never implied that it wasn't work......it was brutally hard work (my words, not hers). She was grinding non-stop, serving up hundreds of drinks per hour. Every interaction was a new opportunity, a new responsibility, to create a special experience for that specific customer. Each guest walked into that moment with their own mood, baggage, experiences, and expectations. For many, it was the first time they ever interacted with our brand. My friend, acting as the caretaker of the brand, was the lynchpin in how that person felt about us after they left our little booth. That's hard work! But it's meaningful work!

I'm so grateful for my friend. I 100% believe she would do it for free if she could, but fortunately, she doesn't have to. It actually makes me want to pay her even more. People who pursue (and find) work that matters are needle-movers. When we find our work that matters, our blood, sweat, tears, and passions are about to be put on the table, and as a result, everyone wins.

I pray my friend continues to feel that way about her work, and I pray each of you pursues and finds work that makes you feel the same. It's available to each of us, and it's far sweeter than we can even imagine. Work that matters matters. My friend deserves that.....you deserve that.

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When the Stakes Are Lower

We had an emergency in our house yesterday. As the kids were getting ready for their football game, Pax realized his receiver gloves were missing. While he was stunned by this development, I was 0% surprised. He's known to just randomly put things in weird and unconventional places. Each time this occurs, I express the importance of things going in their place and the risk he's creating by being negligent with his decisions.

Yesterday, it bit him. His immediate reaction was that we needed to quickly run to Target to buy new gloves. That wasn't happening. It was nearly time to drive to the game, so there wasn't going to be an emergency run for new gloves.

Further, we weren't going to buy him gloves after the game, either. He made a mistake, and now he gets to experience the consequences. Later in the day, Sarah offered to take him to Target to buy new gloves that HE would pay for with his own money.....$20. Ouch!

He really, really, really wants gloves, but the thought of draining his cash to replace gloves he had just a week ago was too painful for him. I'm glad it was painful! Ultimately, he elected to not purchase the gloves. He will play his final two games without them as he considers his options.

It would have been so simple for us to buy him new gloves. However, doing so would have prevented him from learning a tremendously important lesson. Today, he gets to learn this lesson when the stakes are low instead of later when the stakes are much, much higher. This is such a critical concept for parents to practice. If we continually bail out our children (financially or otherwise), we rob them of experiencing the harsh pain and learning the tough lessons.

Pax is frustrated with himself. He wishes he had carried himself differently. And from now on, hopefully, he will. This $20 lesson at eight will possibly save him from a $20,000 lesson at 28. We need to let our kids fail when the stakes are lower, not protect them from failure today while setting them up to get crushed when the stakes are much higher.

As we play football in the backyard later today, I hope it stings him a little. I hope he remembers that feeling and subsequently grows through it. We'll still have a blast playing, though! That kid is getting good!

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Riddle Me This

For the first time in my life, I stumbled into someone (on TikTok of all places) discussing a topic I've spent far too much time thinking about. It's a topic I've had opinions on for decades, and finally, it's part of the public discourse!

Let's pretend you and a friend go out for dinner. The intent was for each person to pay for their own meal. When the bill comes, though, the server communicates that they have a no-split policy. You decide to pick up the tab for the table, and your friend will pay you back. You can replace this scenario with countless others, but this is a simple way to frame this up.

The next day, your friend asks how much you owe him/her. The exact amount owed is $27.65. What amount do you communicate with your friend?

• A. $27.00

• B. $27.65

• C. $28.00

Take a second and think about what you would tell your friend.

I believe each answer is a tell, and I'm about to unload this deep, dark thought I've been carrying for decades.

If your friend owes you $27.65 and you tell them they owe you $27.65, this is a tell that you live by the letter of the law. You want everything above board, no gray area. You want to ensure you don't feel indebted to the other person, even by a few cents. Or……it just might mean you’re an accountant and anything but two full decimals is akin to blasphemy.

If your friend owes you $27.65 and you tell them they owe you $28.00, this is a tell that you want to ensure nobody takes advantage of you. After all, you're the one who stepped up and took one for the team by buying for the table. $28 is a nice round number, and it's only fair this is their tab. Besides, it's only 35 cents!

If your friend owes you $27.65 and you tell them they owe you $27.00, this is a tell that you live with a spirit of generosity....even in the smallest and most unseen ways. It's a generous act to round down what they owe you, giving them a slightly better number than yours. It's also an act of generosity to make it a simple number. It's a small, real-time act that shows you have their back.

This isn't a profound or earth-shattering concept today, but perhaps it will make you look in the mirror. What would you tell your friend? Also, you're welcome for now permanently possessing the curse of constantly and intently watching how other people answer this question. It's telling.

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Getting to the Excellence Part

I recently discovered that an old friend runs a business. I had no idea he even had a business, which perhaps should have been my first red flag. In any event, I discovered his business upon seeing a social media post from said business, venting about how people need to do a better job "supporting" small businesses. In short, his business was struggling, and unless something changes soon, they may have to shut their doors.

Curious, I did a deep dive into his last 12 months of social media posts. Here's what I found: 50% of the posts were about supporting small business, 40% of the posts were them taking stands on various political topics, and 10% of the postswere related to the business.

I reached out to my friend, offering to help. "Dude, I can't even tell what your business does from looking at your social media." Clearly annoyed, he responded, "People should already know what I do."

He asked if I had any ideas, seemingly open to outside ideas/perspectives. As a matter of fact, I had many......but one stands out above all others. He needs to get to the excellence part.....period. Just be excellent. Serve people well. Add value to his customers. Treat people with hospitality. Do amazing work. At every step of the conversation, he wanted to return to the idea that people need to "do a better job at supporting small businesses."

The same day, I talked to another friend who is struggling at work. He believes he deserves to be promoted, but gets continually overlooked. "Have you been excellent?" I asked. He just stared at me for a few seconds. "Well, I show up to work if that's what you're asking." After some prodding, here's what I discovered:

• He shows up to the office right on time.....never early.

• He NEVER stays past 5PM. If there's a project hanging in the balance, it can wait until tomorrow. "I don't work for free."

• He doesn't respond to messages outside of business hours.

• He admittedly does just enough to get by.

There's nothing excellent about that. I'm not advocating for his firing, but at the same time, I'm not sure why anyone would want to promote someone who doesn't exude excellence.

When all else fails, be more excellent. Are there people out to get us? Maybe. Is life fair? Not at all. Are crappy things going to happen to us? Without a doubt. But through all that noise, excellence stands out. Excellence is the linchpin to everything. There are a million things we cannot control, but our level of excellence is one we can.

So, today, whether you're an employee or a business owner, let's get to the excellence part. Excellence always wins.

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Just Notice

I met a friend for lunch yesterday at one of my favorite Mexican restaurants. I wouldn't say I'm one of their top customers, but I do make it in around once per month.

It's one of those order at the counter and they bring it to you type of places. While trying to order my meal, I struggled to find my desired entree on the menu (evidence that I'm not there too frequently). Just then, the woman behind the counter said, "I think you're looking for #14." Caught off-guard, I scanned the menu board to find item #14, only to discover it's exactly what I was looking for.

"Wait, how did you know that's what I was looking for?!?!"

"When you walked in, my dad told me you would be ordering a #14, and he already started preparing it for you."

First, am I really that predictable!?!? Wow!

Second, I was shocked they noticed me to that degree. I didn't know they even recognized me, and not only did they recognize me, they knew what I wanted even before I opened my mouth.

That single exchange tremendously moved the needle for me. Their actions didn't cost them anything, and yet, made all the difference in the world. In one simple act, they just seared in my loyalty, which will inevitably result in hundreds more dollars in revenue from me in the near future.

Just notice. It's a spectacularly simple strategy to move the needle in your endeavors. All it takes is a little intentionality, some care, and a desire to be more excellent. Whatever you're about to do today, just notice. It may seem like nothing to you, but it could be everything for someone you encounter.

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Sometimes, You Get Both

I often beat the drum of pursuing meaning over money. I'm a broken record. It's a hill I'll die on. I have a podcast called Meaning of Money, for crying out loud. This idea is woven into my core, and I want to dedicate my life to helping others see it and practice it.

Yesterday, I shared the story of a client who excitedly accepted a job because it provided his family with a huge income boost. This increase in monthly resources allowed this family to do a lot of good stuff, financially speaking. However, a deep regret set in just a few months later, realizing they had made a big mistake.

Let me be clear. This couple's mistake was not the fact they accepted a job that increased their family's income. The mistake was choosing money over meaning. When we prioritize money over meaning, we lose. Maybe not right away, but at some point.

Today, I want to clarify one important point. We don't have to choose between meaning and money; we just have to pursue meaning. Pursuing meaning does NOT mean we are opting for a life of financial struggle. In practice, the pursuit of meaning often provides both meaning AND money. Sometimes, you get both.

If we pursue money, we might just find it. I know countless people who have dedicated their lives to the pursuit of wealth. Many of them have found it. You know what else they found along the way? Loneliness, brokenness, misery, emptiness, and oftentimes, a life they merely tolerate. The resulting wealth provided by this lifestyle acts as a self-medicating relief, masking the pain with comfort.

On the flip side, if we pursue meaning, we WILL find it. Meaning comes in all shapes and sizes, and is as unique as each of us is. People who pursue meaning live with a different attitude and approach to life. There's something about them; you can see it in their eyes. In addition to finding meaning, these people also often find money. Why? When someone is pursuing a life full of purpose, meaning, and impact, pouring their blood, sweat, and tears into something, they can't help but have some level of financial success. This is the irony of pursuing meaning.

Sometimes, you get both. Life is a crazy adventure, opportunities abound. When we steadfastly endeavor to live a life rich in meaning, there's no telling what opportunities are around the next corner. Sometimes, you get both.

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Instant Regret

"I think I made a huge mistake." Not the text I expect at 1AM on a random weeknight. It was from a client.

A few months prior to that random late-night text, my client had a big decision to make. The husband had just received an offer for a job that would pay $21,000 MORE than his current job, a jump that would take him from $82,000/year to $103,000/year. That's real money! This seemed like a no-brainer decision to both him and his wife. After all, this new opportunity would equate to approximately $1,300 more in their monthly take-home budget. This was big time for them!

I had my doubts, and I'll share why. His current job, the lower-paying one, filled his tank. He found tremendous meaning in this job, and he had deep connections with his co-workers. In short, he loved what he was doing. This new job, though, meant more money for his family. This new opportunity also fell into his field of expertise, but he was 50/50 on whether this specific role was the best use of his gifts and passions. But the money!!!

They thanked me for my insights and decided to sleep on it for a few nights. Ultimately, the new opportunity (and the financial rewards that came with it) were too attractive to turn down. They excitedly accepted the job, and a new chapter began.

"I think I made a huge mistake." I immediately texted back, inquiring what had happened......though deep down, I already knew. Though the bigger paychecks were awesome, he was miserable in this new role. His community was gone, the role wasn't as fulfilling, and his new boss was a jerk. This was the worst-case scenario for him. What did his wife think of the whole thing? While she was glad to have more money coming in, she wasn't a huge fan of him coming home grumpy at night, watching him struggle, and him always being tired. To put it bluntly, this wasn't the man she knew.

When I asked about how the new financial situation has impacted their life, the wife responded, "It feels like blood money. I'd give it all up if we could just go back to the way things were."

Things rarely go well when we make decisions based on dollars and cents. Yes, money has to play a role. But when we put money over meaning, we usually lose. Fortunately, this couple quickly learned this lesson and are seeking ways to navigate a different journey. I pray they do, and I'll do anything I can to help them. But their story is a cautionary tale for us all. More money is always appealing, but not at the expense of a fulfilling and meaningful life.

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Must Be Nice

"Must be nice." Ah, gotta love that phrase. "Must be nice" is a politer way to say "You got lucky" or "I'm jealous." It's also a phrase that signals the beginning of the end. The mere utterance of these words signals that your inputs are detached from your outputs. Using this phrase means outcomes are not correlated with executon. Mentioning this phrase means you've lost before you've even had a chance to play the game.

These words were said to me on Saturday afternoon on the heels of the Downtown Des Moines Farmers' Market. My friend saw our huge line as he passed through the market and had some "feedback" for me afterward. He gave me permission to write about it, so that took away some of the sting. In short, though, he attributed our long lines to good fortune. Right place, right time.

He's not alone in this sentiment, and this doesn't just apply to Northern Vessel. If you've built something that matters (whether it be a business or career), there are countless people in your life who are sopping with jealousy. Or, in the words of one of my business owner clients, "Travis, you're the only person in our lives we can even talk to about this stuff. You're the only one who will genuinely celebrate with us." He, too, gets lots of "It must be nice" comments. Jealousy is everywhere.

The truth is, it does feel nice. It feels wonderful to create something that matters. However, ahead of that niceness is a ton of blood, sweat, tears, pain, suffering, failure, and growth.

In this conversation, my friend asked what I attributed our success to. I think there are a lot of reasons for it, and they all revolve around inputs, not outputs. While most people believe in obsessing about the outputs, we believe in obsessing over the inputs and merely measuring the outputs.

Here are some of our inputs:

• We're obsessed with finding the right people. It's extremely difficult to get hired at NV. TJ's standards and expectations are brutally high.

• Financially, we believe in paying our team ridiculously well. TJ hasn't given me permission to share specifics (yet!), but we created a compensation structure for the farmer's market that boggles the mind. Interests are aligned, and our team is incentivized to crush it.

• In turn, the work is a grind! It's like going to battle. Our team goes into market days knowing they will be wreckedby the time we're done. My hope is they look back on that experience and say, wow, that was awesome!

• Unreasonable hospitality. It's not good enough to quickly serve a coffee. Anyone can serve a coffee. But can you make people feel a certain way while doing it? The experience is everything.

• Constant obsession with getting better and more efficient. "Good enough" isn't good enough. Every team member has the green light to propose ideas for "better."

I pray you get rid of the phrase "It must be nice" from your life, and keep all the "It must be nice" people at arm's length. Whatever you're into, obsess about the inputs and measure the outputs. Keep going! "Nice" is coming.

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5.2

Yesterday marked a hallmark day in my year: The first day of farmer's market season! This is the third year Northern Vessel has set up shop at the Des Moines Farmers' Market (regularly voted one of the top five markets in the country). 

Our operation is simple, but difficult. The simple part is that we only sell one product: our signature oat milk cold brew latte. The difficult part is scaling it to levels that challenge common sense and any form of reasonableness.

The market is open from 7am-12pm on Saturday mornings, May through October. Five hours, once per week, for six months. 26 bites at the apple. You get one shot to make the most of that precious time. Heading into our first year, we had no idea what we were doing. We essentially winged it, figured out what didn't work, tweaked, tested, and repeated. Eventually, we plateaued at a point where we could sell 2.8 drinks per minute. It was a massive success! We were proud of our achievements and thoroughly enjoyed the process.

Heading into our second year, we knew our peak was around 2.8 drinks per minute, but we aspired to do it better. A better experience, more fun, more hospitality, a better overall vibe. We wanted that three-minute experience to be the highlight of someone's day. 

By the third week of our second season, we realized our minds were far too small. After testing (and failing) new ideas, our constant tweaking yielded results we never even imagined. In the heart of that season, we capped out at 5.2 drinks per minute.....it was bonkers.

In this last offseason, heading into the third year, we looked at it differently. No matter how close we think we are to our peak, we realize we still haven't even scratched the surface of what's possible. This mere notion led our team down a rabbit hole of obsession. For the past few months, we've tested new ideas and debated countless tweaks. What if this person stands here? What if those cups are positioned there? What if we used this other piece of equipment to fill cups instead of the normal one? What if a different person fills that role?

As this season approached, that 5.2 drinks per minute number lingered in our minds. This time, though, we didn't look at it as a ceiling, but rather a floor. In our minds (or perhaps imaginations), we believed we could blow by a previous record that never seemed possible to begin with. Our new goal: 7.0 drinks per minute for five hours. Yesterday was our first test. In yesterday’s market season opener, with unseasonally low temps, we landed at 5.2 drinks per minute.....tying our previous peak-season record. Now, we tweak.

I love this team!

I have much more to say about this, but I'm quickly running out of real estate. I'll pick that up soon. In the meantime, here's my takeaway. Whatever you think is possible....is. Whatever you think isn't possible.....isn't. And whenever you think you've reached your peak, you haven't even scratched the surface. Keep tweaking!

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It’s Pretty Great to Be Young

I was recently blessed to speak at a high school business class. It's a talk I've given about once per semester for the past two years. The topic of the lesson was investing, similar to how I teach it to my clients.

During my talk, I tried to frame investing risk through the lens of the long-term U.S. stock market history. I've written about this topic several times, but today, I'm going to share an idea that could (er, should) re-shape our perspective of risk...and the power of compounding for young people.

We have solid stock market data going back to 1870, just five years after the Civil War ended. That's 154 years of history! Through year-end 2024, those 154 years produced an annual return of nearly 9.2%. Yes, it's a mess. Yes, it's volatile. Yes, it's crashed.....many times. But through all that, 9.2% annual returns for 154 years (and 10.4% for the last 100 years!). For the sake of simplicity, let's just call it 9%.

My audience this week was a collection of high school kids in the 16-18 year-old range. For the sake of this little thought experiment, let's say they averaged 17 years old. If a 17-year-old simply invested $1,000 into the U.S. stock market today and planned to patiently keep it invested until age 65, what would that look like? At a 9% annual return, that single $1,000 contribution would eventually reach approximately $62,000! Think about that! If you're 17 years old and make a decision to invest one time, that decision would yield a 62x outcome by age 65.

"Yeah, Travis, but what if something bad happens!?!?"

Something bad WILL happen. In fact, during a 48-year stretch between 17 and 65, many bad things will happen. We will experience many recessions, stock market crashes, and other unknown calamities.

"Yeah, Travis, but what's the worst that could happen?"

I'm glad this imaginary voice in my head asked that question! Here's a fun fact. During our 154 years of history dating back to the Civil War, the WORST 48-year stretch in U.S. stock market history provided an annual return of 5.64%. That was the 48 years ending in 1920, a period in which cars hadn’t even yet been invented. Had someone invested $1,000 at age 17 and experienced the WORST 48 years in history, their initial investment would be worth approximately $14,000 at age 65. To put it another way, historically speaking, the WORST you could do by investing $1,000 into the U.S. stock market at age 17 and letting it sit until age 65 is yielding a 14x outcome.

How risky does that feel? The worst historical outcome for a 48-year investment term is making 14x your money. "Risky" isn't a word I'd use to describe that. For me, there are three big takeaways today:

1. Time is our friend

2. History is on our side

3. It's pretty great to be young

Please forward this to a young adult in your life. They need to hear it.

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Sign Here

I met a blog reader yesterday. We spent about an hour together, and I thoroughly enjoyed our time together. We dabbled in conversations around careers, meaning, materialism, parenting, debt, marriage, and budgeting. Overall, it was such a treat to meet him, and I hope it's the first of many encounters.

He said one thing that was particularly fascinating to me, and on the spot, I told him that it needed to be today's blog. I'm going to paraphrase him, as I don't remember his exact quote. In short, he said that between the ages of 20 and 30, we tend to make financial decisions based on what other people tell us to do. Parents, mentors, co-workers, friends, family. After all, we're young and this is our first time dealing with real-life money stuff. Thus, we trust.

He also added that we spent much of that decade "signing away":

• Sign here, and these loans will pay for your college.

• Sign here, and you can use this shiny plastic card to buy whatever you want.

• Sign here, and you can buy this car (but only after you sign here on this other document for the loan).

• Sign here, and you will own this house (along with all the not-yet-known responsibilities that come with it).

• Sign here, and you can take all these furniture and appliances home without paying interest for 36 months.

• Sign here, and you can marry this person (this one is actually pretty awesome).

• Sign here, and you'll be the parent of record on this child's birth certificate (this one is pretty amazing, too!).

We sign, sign, and sign.....for a decade. Then, we wake up sometime in our 30s and realize our life looks a lot different. The wisdom (or lack thereof) in each of those signatures has set the foundation for what our life now looks like. For many of us, it's scary, daunting, and suffocating. We realize some of those signatures, in hindsight, caused tremendous damage to our lives.

As my new friend was sharing this idea with me, I couldn't help but think back to all my "sign here" moments during my 20s. Each of those moments, without knowing it, caused ripple effects that I still feel 15-20 years later.

Perhaps we need to slow down....especially in those young adult years. Perhaps we need to more carefully consider our "sign here" moments, thinking through the ripple effects it might have on our future. Perhaps we need to surround ourselves with a wiser circle of influence, one that won't lead us down these dangerous roads.

If you're well past your 20s, as I am, perhaps you need to find some young adults in your life and invest in them. These young men and women desperately need strong influences to help guide them to places they won't regret 20 years later. It's our job, collectively, to help this generation avoid so many of the crippling mistakes we made. We might not be able to go back in time to help our younger selves, but in a poetic way, perhaps serving this next generation well is our DeLorean.

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Driving Your (or Their) Future

We're sticking on the topic of cars again today, courtesy of an e-mail I received from blog reader Randy. Specifically, Randy pointed out how these modern-day mortgage-sized vehicle payments aren't just a curse to our month-to-month finances, but their impacts compound over time. He's so, so right about that, and his observation reminds me of a story from a few months ago.

I'll set the stage. I was meeting with a 30-year-old couple. They make a good income and live a normal life, but they have an issue. There's not enough margin in their monthly budget to save for retirement. In short, they are fearful that they won't have enough money to retire one day.

Upon reviewing their budget, I confirmed they don't, in fact, have much margin in their month-to-month cashflow. I also confirmed they have zero saved for retirement. Oh yeah, and one other fact: The husband's monthly vehicle payment was approximately $1,200. Curious, I asked them about this glaring number in their budget. The husband told me they've had a vehicle payment in this range since getting married five years ago.....but they can "easily afford it." By the way, this doesn't include the wife's car payment.

I'll summarize:

• A $1,200 vehicle payment is normal to them, as evidenced by having one for at least five years (spanning three different vehicles).

• Their $1,200 vehicle payment is "easily affordable."

• They live month-to-month.

• To date, they haven't had enough margin to save for retirement.

This situation isn't isolated to this couple. Without even realizing it, millions of Americans are putting themselves in a similar situation. To create urgency, I shared a visual with them. What if they stopped the vehicle payment cycle by selling this vehicle, purchasing an affordable vehicle with cash, and began investing that $1,200/month payment?

Here's the math. If this couple invests $1,200/month from age 30 to age 65 and does absolutely nothing else investing-wise, they would end up with approximately $3.5M by age 65. How much work would this require? 10 minutes to set up an investment account and automate it. Then, nothing. Zero work. Zero effort. Zero brain damage. They could lose their login credentials and come back 35 years later to find $3.5M chillin' in their account. Yes, it's that simple. Compounding.

What if instead of investing, we were talking about the compounding impact of generosity? My kids recently participated in a day of service to prepare packages for Meals From the Heartland. This ministry packages and distributes meals all over the world, feeding millions of hungry people. Each serving costs approximately $0.29. $1,200 invested in this initiative would fund 4,100 meals in a single month. Looking at the bigger picture, that's 49,200 meals per year! From age 30 to 65, that's 1.7 MILLION meals. Nearly 2 million meals!!! How many lives is that?!?! You could literally change the world! Compounding.

But yeah, that truck is pretty sweet! It's got heated seats, fancy cameras, a massive engine, and turns all the heads while sitting at the stoplight. People will surely know you're successful now!

Decisions compound. Choose wisely.

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Anatomy of a Midlife Crisis

After writing about my 2006 350Z here, here, and here, one of our daily readers recently requested an update. In short, how am I enjoying my midlife crisis after one year?

The term midlife crisis is officially defined as "A period of intense self-doubt and questioning that can occur in middle-aged individuals, typically between 40 and 60 years old. It's often characterized by feelings of dissatisfaction with one's life, a desire for change, and a sense of nostalgia or a longing to recapture youth."

First, I think the term midlife crisis is silly. I used to believe the hype, but I've come to understand something. "Midlife crises," if done well and for the right reasons, are anything but crises. In fact, they are the opposite. As I've watched them play out in other people's lives, and in my own, there's no "crisis" in play. Rather, it's a form of ultra-delayed gratification by responsibly purchasing something many years down the road instead of impulsively and destructively making a similar decision at a younger age. In my case, 17 years after I initially wanted to (and almost did) purchase it. This delayed gratification turned the same decision from a potentially destructive force in my life to a mere footnote.

With that context in mind, I want to share a reflection on the first year of owning my "midlife crisis." First, yes, it's been amazing. My family and I have created so many memories with it, and it adds a lot of value to my day-to-day. Here's what the first year cost for all that richness:

• Purchase Price: $9,000

• Tax and Tags: $605

• Repairs: $789

• Tows: $220 (which led to the above repairs!)

• Insurance: $816 ($68/month)

• Winter Storage: $500

So, after my initial purchase, I spent a total of $2,930 during the first year. In other words, it feels like the steal of the century. I've had a lot of people question and criticize the purchase, but in my mind, it was the biggest no-brainer imaginable. Luckily, I don't care too much what other people think. Otherwise, I'd spend my time, and a whole lot more money, doing far more ridiculous things that I don't even care about.

Here's my message today. Do what adds value to your life. Forget what other people think, expect, or say. If something will add tons of value to your life, amazing. Also, don't forget that you don't have to break the bank or damage your finances to do cool things. Get creative, have fun, and carve your own path.

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She Did It

11 years ago, during a run-of-the-mill youth group discussion, a young lady told me her dream was to be a stay-at-home mom one day. Her face lit up when she made this declaration; so confident, so excited. She was a gifted athlete who would eventually go on to play at the D-1 level in college, and then transition into a very successful young career in the professional world. All the while, though, her stay-at-home mom dream persisted.

Last week, I received a text message out of the blue: "Today was my last day of work!!! Tomorrow, I'll be officially working my dream job of full-time stay at home mom. YAY!"

So beautiful! I haven't had a chance to chat with her verbally yet, but I can't wait for that conversation. I'm so happy for her. I'm so excited for her. I'm so proud of her.

None of this was by accident, though. She didn't luck into it. Good fortune didn't strike her. She and her husband worked for it. They planned for it. They sacrificed for it. This has been the plan for so long, and now, they get to reap the rewards for all the discipline and dedication that led them to this moment. I'm so happy for this couple, these new parents, and this dream career my friend is about to pursue.

Our culture says it's not possible. Our culture says we're all victims of bad timing and tough economic conditions. Our culture says a single-income life is unattainable....especially for young people. Yet, dedicated, disciplined, and sacrificial couples are doing it all the time. It IS possible.....if we're willing to pay the price to make it happen.

I'm grateful my young friends are willing to pay this price, and they will undoubtedly thank their younger selves for bringing this dream to life.

Whatever your version of this is (whether being a stay-at-home parent or some other dream), do it. Don't let other people or our prevailing culture rob you of your hope, aspirations, and dreams. Fight for it. Stay persistent. Pay the price. Make it happen.

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Lessons From the GaGa Pit

I was recently talking to the kids about their second-grade recess activities. GaGa Ball is a fan favorite, a real grade school tried-and-true. Curious, I asked them if anyone in the class was particularly good. Both kids immediately blurted out, "Ezra!" Ezra, they tell me, dominates GaGa Ball.

I haven't spent meaningful time watching their class play GaGa, but this answer surprised me. I know the kids well enough to know who the athletes are (I’ve coached many of them), and Ezra doesn't live in the athlete cohort in my mind. What I know about Ezra is that he's a brilliant little guy. He's one of the most insightful and intelligent second-graders I know.....but I've never seen him play a sport before.

Now, I was extremely curious! "So, Ezra is the best?" "Yeah, Dad, he wins all the time!"

"What makes Ezra so good at GaGa Ball?"

"He does a really good job dodging the ball, and he lets everyone hit the ball out of bounds and get themselves out."

Ah, I love it. Ezra's secret weapon is to be smart, patient, and not try to do too much. It's not a glamorous approach, but in the opinion of my two kids, it makes him the best GaGa Ball player on the lot.

I think we could all learn something from Ezra. Be smart, be patient, and not try to do too much. If us adults would follow this strategy, it would save so many of us from the heartaches we cause ourselves.

Everyone seems to be out here swinging for the fences, trying to look good, seeking instant gratification, and chasing it. Meanwhile, the Ezras of the world are playing the long game, disregarding some perceived status others are trying to earn. He's not in the business of looking good or letting his emotions win over.....he's in the business of winning.

What if we handled our investments like Ezra? Smart, patient, not trying to do too much. Most people would have dramatically better returns if they would just stay the course and not try to time or outsmart the market.

What if we handled our spending like Ezra? Smart, patient, not trying to do too much. Most people would have far less debt, be much more measured, and spend primarily on things that align with their values.

What if we handled our careers like Ezra? Smart, patient, not trying to do too much. Most people would have far more contentment and would more confidently work their way up their respective ladders. They wouldn't feel the need to jump ship to the next shiny object, and would be far more willing to consistently put in the work to succeed.

I love this Ezra story. I told my kids that Ezra's strategy is something to learn from. We don't always have to be a hero. We don't always have to make the dramatic play. Sometimes, we need to be smart, patient, and not try to do too much. Well played, Ezra, well played!

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More Trapped Than Ever

I recently had the opportunity to meet up with an old friend. This friendship goes way back to our business school days. I remember our last semester of college when we each received offer letters from two different companies for the same dollar amount: $42,000 per year. I remember how we went out for a drink to celebrate. $42,000?!?! We thought we struck gold. Fast forward a few months, we were both working our respective jobs, and it did, in fact, feel like we struck gold. That felt like so much money to us formerly broke college kids.

20 years have passed since that moment. Today, we're a lot less single, our families have grown, and our black hair is a bit more gray. You know what else has changed? His income. In a recent conversation, he shared that his household income now exceeds $500,000 per year. A half million dollars! That's a far cry from the $42,000 he started making.

Here's where the story gets, er, "good." Knowing what I do for a living, he had a direct question for me (and graciously asked if I would write about it). While he's grateful for his current income, he and his wife struggle to make ends meet with this income. You heard that correctly. $500,000 per year doesn't seem like enough income to care for his family.

Let me re-frame this conversation. He once felt rich making $42,000 per year. Now, making $500,000 per year, he feels broke. Yes, inflation plays a role, but not as much as you'd think. Looking at historical inflation calculator, $42,000 in 2005 is worth approximately $69,000 today. $69,000 is still a mile away from $500,000. Well, it must be the fact he's married with kids. Sure, that plays a role, but an extra adult and a few small humans don't fill a $431,000 per year hole. What else could it be......?

I pointed out a few observations about his current life, such as:

• The mini-mansion he lives in.

• The three high-end cars in his garage (financed, of course).

• The country club he belongs to.

• The infinite spending on dining and entertainment.

• Countless extravagant trips (which get plastered onto social media)

• The massive pool in his backyard.

• The lake house.

• The two boats at said lake house.

His response: "Yeah, we're living our dream life! We have everything we've always wanted."

And yet, he's more trapped than ever. This is the American dream, turned nightmare. This is the path so many people are on. It feels good. It provides adrenaline. Dopamine flows like a river. It seems like a trophy collection of success. But at the end of the day, we're building our own cage, bar by bar.

You might think, "This guy sounds like a real idiot!" The truth is, he's absolutely brilliant. He's a respected leader, a pioneer of sorts. He's accomplished things many may never dream of. Unfortunately, though, he's cursed by being a human. We humans are flawed beings, and materialism is one of those many flaws. He found the world's way early in life, latched on, and never let go.

His mission, if he chooses to accept it, is to get out of the cage he's trapped in. Do you need a similar mission?

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