Well, Well, Well

And just like that, the U.S. stock market is at a new all-time high. Remember just two months ago when people were decrying the end of America and the utter destruction of millions of Americans' retirement accounts? Those were fun times.

Yesterday afternoon, the S&P 500 closed at $6,173, which marks a new 155-year high. The previous all-time high was $6,144, achieved on February 19, 2025.

Now, in a stunning and ironic twist, the same people who were decrying the end of capitalism (and subsequently and irrationally liquidated their investments out of fear) are now claiming it's a terrible time to invest since the market is so high.

You want to know the best time to invest? I'll tell you the secret. Lean in closer. Today. Today is the best time to invest.

"Yeah, Travis, but it doesn't make sense to invest at all-time highs. It's better to wait until it comes back down!"

If someone has a magic crystal ball that will perfectly predict the future, I'd love for them to share their secrets with me. Unfortunately, history hasn't boded well for people who tried to time the market. It's easy to look back with hindsight and declare what's what with uber confidence. Again, unfortunately, I don't see many people with DeLoreans parked in their driveways that allow them to go back in time.

Here's the truth. Yes, the market just reached a new 155-year high. However, it shouldn't scare us as much as people lead us to believe, for one very important reason. We hit new all-time highs all the time! For example, over the last 155 years (since the conclusion of the Civil War), the stock market ended the year at an all-time high 57 different times. That's one out of every 2.7 years. Here's how many times the market ended a year at all-time highs, by decade:

• 1870s: 2

• 1880s: 2

• 1890s: 1

• 1900s: 7

• 1910s: 0

• 1920: 4 (Roaring 20s)

• 1930s: 0 (Great Depression)

• 1940s: 0 (World War 2)

• 1950s: 7 (post-war boom)

• 1960s: 6

• 1970s: 1

• 1980s: 9

• 1990s: 8

• 2000s: 0 (tech bubble burse, 9/11, Great Financial Crisis)

• 2010s: 5

• 2020s: 5 (so far, including this year)

Imagine having a drink with a couple of buddies on New Year's Eve, 1968. You start discussing the stock market. One of your buddies begins talking about how the market feels too rich for his blood. After all, it hit new all-time highs in 13 of the last 18 years. It's now worth nearly $104!!! It's too high. It just doesn't make sense! We should probably wait for it to come back down.

You know better, though. Yeah, it's true the market hit new all-time highs 13 out of the last 18 years, but you also know the best time to invest is today. So, despite your friend's negative outlook, you invest anyway. Fast forward to today, whatever you invested on NYE 1968 is now worth 59x what you paid for it (plus all the dividends you received in the meantime).

Back to June 2025. Yes, we're at a new all-time high. Yes, the market will likely go down at some point. Yes, terrible things will happen in the meantime. And yes, we'll hit many, many more all-time highs. History has given us a road map to the future. All it requires of us is to be patient and enjoy the bumpy ride.

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They Shot the Elephant

When I'm sitting face-to-face with most coaching clients, there's an elephant in the room. This person (or persons) desires to retire one day. They'll tell me, "We want to retire in 15 years." They might be 40 years old, meaning their objective is to prepare themselves to retire by age 55.

This desire has many implications. First, it means this couple needs to invest like crazy. They need to intentionally and repeatedly set aside large chunks of money each month as they race the clock to accumulate enough resources to meet their objective.

When they elect to set aside massive resources for retirement (you know, to win the race), this, too, has implications. It means fewer financial resources available to the family month in and month out. That may mean less fun, fewer vacations, less generosity, and a more frugal lifestyle. It might also mean they linger in higher-paying, lower-meaning jobs. After all, what's the point in pursuing work that matters if we're busy racing toward the finish line and stop working as quickly as possible? There's a conscious trade-off between finding meaning in their life now (which they might not) and hurrying toward the retirement finish line.

The financial and career pressures begin to build, all for the sake of meeting these age-based retirement goals. Some people enjoy this process, but most don't. In fact, it can turn a frustrating endeavor into a pressure cooker of stress, weight, and disappointment.

Then, there are meetings where I sit face-to-face with a different kind of client. This is the type of couple who, like me, have zero desire to retire. Both spouses are pursuing work that matters, enjoying the journey, and living with meaning every step of the way.

In a recent meeting with one of these couples, I was writing a bullet list of possible uses for their taxable investment account. As soon as I wrote the word "pre-60 retirement," they asked me to erase it. "We don't want to retire. We like to actually live our lives and have purpose." I love it!

The implications of this mindset shift run deep. Immediately, we were able to pivot our approach and create a weird and counter-cultural way to approach this topic. Every ounce of pressure and urgency melts away, as there's no defined race to run. Instead, we can plan more intentionally and weave all the pieces together in a way that creates a cohesive lifestyle (not just someday down the road, but today). There is no elephant in the room; they shot the elephant!

Instead of allocating massive sums of resources to retirement, they can take a more measured and flexible approach. They can allocate more money for memories, travel, and giving. Their investments, instead of needing to fund an ever-earlier retirement, can now feed more meaningful endeavors. Their career decisions can be centered around meaning, not paychecks. More than anything, there's no weight. They are going to be great. They don't feel burdened or heavy. It changes everything!

I shot the elephant years ago, and I'm so glad my client did, too! When we can untether ourselves from the race toward retirement, it literally changes every single aspect of our lives. So beautiful! Is it something you'd consider? Please think about it, and we'll talk about it again soon.

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Steaks Have a Price?

Yesterday's post set off quite the unexpected storm of commentary: steak, steak, and more steak. Steaks weren't the main point of that post, but it hit home for many. To summarize, I was trying to make the point that our personal opinions of what something should cost mean nothing. Instead, the herd determines market value, and it's our individual responsibility to decide if we accept said price.....or not. Everything else is just noise.

Yesterday's comments can be placed into one of two camps. First, about a half-dozen people shared they, too, struggle to pull the trigger on nice cuts of meat.

• "Too rich for my blood."

• "I need to stick with chicken breast and hamburger right now."

• "It's not worth it."

• "Maybe if the prices eventually fall."

This group of people is price-sensitive to the cost of steaks. They would like to buy steak, but when they look at it through their own personal lens, they don't see enough value for the cost.

The second camp is on the polar opposite side of the discussion. In their opinion, no cost is too much for a good piece of meat:

• "There's always room in the budget for steak."

• "It's a luxury I'm not willing to give up."

• "Nobody better touch my steaks!"

• "Steaks have a price?"

Then, there's one other guy. I ran into a man at a local retailer yesterday, and he was excited to see me. He is an admitted cheapskate. He compares fuel prices at various gas stations and picks the cheapest pumps. He only buys generic brands. He only spends "25 bucks, max" on pants. He rarely goes out to eat. My point: he's frugal. Here's what he said about steaks: "I eat 1-2 steaks per week, and I NEVER look at the price. I find a steak I want to eat.....and I buy it. I refuse to look at the price. It's one of my small joys in life."

In a fun way, this steak conversation perfectly illustrates my broader point. We're all different. We each have a complex set of values, perspectives, and characteristics. And yes, these values, perspectives, and characteristics funnel into our relationship with money. The price of a steak is the price of a steak. However, what we do with that information is dramatically different for each of us. It doesn't matter what the actual cost to produce a steak is, or what we think it shouldcost. The herd decides the price, and we individually need to react accordingly.

Now, take out the word "steak" and replace it with literally any other item in our life. A coffee, a MacBook, a house, a pair of Nike's, a new Honda Accord, a house cleaner, or my financial coaching services, to name a few. It doesn't matter what anyone else thinks these things are worth because you're not them. Instead, our job is to block out all the noise around us, accept the price of something for what it is, and decide if the value of said item (to us) exceeds the price we would pay.

So simple, yet so challenging to execute. However, if we can lock in on this idea and do it well, it makes our lives so much richer.

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The Market Value of Water

Social media is abuzz right now after leaked documents show a particular pair of Nike shoes costs $16/pair to manufacture, including all materials and labor. The selling price for said shoe? $180/pair. That's an 11x markup, or stated in terms of gross margins, 91% gross margin.

"They are screwing us!" shouted one commenter. Another irate Nike fan exclaimed, "Now we know they aren't worth near $180!"

Question: What is the correct market value of this pair of Nike's? What's the proper price that should be charged?

Answer: Whatever people are willing to pay.

How much these shoes cost to manufacture means absolutely nothing when it comes time to set a selling price. The actual market value of the shoes is solely determined by how much money people are willing to spend on them.

Let's go simpler. What is the market value of a bottle of water? The question is too vague; it needs more context.

What is the value of a bottle of water attained in your home? $0. Fresh, clean water is prevalent in nearly every home in modern America. Nobody would pay a dime for a bottle of water in their home.

What is the value of a bottle of water purchased at a gas station? As low as $1. Options are prevalent, and consumers have walk-away power.

What is the value of a bottle of water purchased outside a major sporting event? Probably $2-$3. There aren't as many options as in a gas station, but consumers still have walk-away power.

What is the value of a bottle of water purchased inside a major sporting event? Probably $5-$6. You are a captive audience and have limited walk-away power. Either you want water, or you don't. You can fork over the $5-$6 or go thirsty.

See the crazy dynamics of these relationships? The exact same water can range from $0 to $6, depending on context. Context always matters! Nearly every product on earth can and should be viewed through this lens. Its market value is not based on what it costs to make or what it "should" cost (in the eyes of particular people). Instead, the market value is whatever people are willing to pay.

Sure, our individual opinions matter in terms of our own personal go/no-go decisions, but our individual opinions have zero bearing on the market value of xyz item. The crowd determines the price, not us individually. I frequently talk to my favorite meat dealer friend, Teresa, about this. The price of steaks is bonkers right now. I have a hard time personally justifying them often. However, my opinion matters none, as the broader crowd has decided they are eagerly willing to pay far more for nice cuts of meat. That doesn't make the crowd wrong, or me right. It just is.

On the flip side, I will bring Teresa wheelbarrows of money for her awesome ground beef, beef patties, marrow bones, beef sticks, and sourdough loaves. They aren't necessarily cheap, either, but they are wonderful and I'm willing to pay the piper because they add much value to my family's life. We love it!

Life is so much simpler when we frame everything through the lens of cost vs. value......to us. It's worth it to me because _____. It's not worth it to me because _____. Keep it simple, and know what the value of something is to YOU.

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What We're About, According to A.I.

I received an interesting e-mail from a friend/client yesterday. He was experimenting with A.I., and as part of his exploration, tasked the A.I. model to give a synopsis of my content.

Here was his initial prompt:

"Can you research Travis Shelton (located in Des Moines, IA) and his company "Shelton Consulting" as well as his blog and podcast "meaning over money" and provide me the most talked about topics or points he is making?"

It's scary how accurate A.I. is becoming. After reading its conclusions a few times, I thought it might be interesting enough to share today. Some of you know me personally, and some have never met me. Some have been reading/listening for years, and some just found me. So, today, I'm going to let an A.I. model explain what we're about here. We're certainly not for everyone (I've made my share of enemies), but if we're for you, we're beyond grateful to have you along the journey with us.

The following is a word-for-word output generated by the A.I. model. Enjoy!

"Absolutely! Travis Shelton, based in Des Moines, Iowa, is a financial coach, speaker, and founder of **Shelton Consulting**, which he launched in 2019. His mission centers on helping people align their work and money with their values to live more meaningful lives. He's also the voice behind the *Meaning Over Money* podcast and blog, where he explores the intersection of money, work, and purpose through a countercultural lens.

Here are the **most talked-about themes** across his platforms:

### Core Messages from Travis Shelton

1. **Money Is Never Just About Money**  

Travis emphasizes that financial decisions are deeply tied to identity, values, and emotional well-being. He challenges the cultural obsession with wealth accumulation and instead promotes using money as a tool for meaning.

2. **Pursue Meaning, Not Just Success**  

A recurring theme is the idea that chasing promotions, status, or wealth often leaves people feeling empty. He encourages listeners and clients to define success on their own terms—often rooted in purpose, relationships, and impact.

3. **The Hedonic Treadmill**  

He frequently discusses how people adapt quickly to financial gains, which leads to a constant craving for more. This cycle, he argues, prevents lasting satisfaction and can derail meaningful living.

4. **Generosity and Simplicity**  

Travis advocates for radical generosity—not just with money, but with time, energy, and attention. He also promotes simplifying life to focus on what truly matters, rather than accumulating more.

5. **Behavioral Finance and Emotional Triggers**  

His podcast dives into how emotions, upbringing, and societal pressures shape our financial behaviors. He often explores how childhood experiences with money influence adult financial habits.

6. **Faith and Values-Based Living**  

Rooted in Christian principles, Travis integrates faith into his coaching and content, encouraging people to align their financial and professional lives with their spiritual values.

7. **Young Adults and Financial Empowerment**  

He's particularly passionate about helping twenty- and thirty-somethings navigate money with intention, especially those disillusioned by traditional career paths or burdened by student debt.

8. **Short, Actionable Insights**  

His *Meaning Over Money* podcast is known for its concise, 10–20 minute episodes that tackle real-life financial and career dilemmas with practical advice and a dose of inspiration.

Interesting stuff. Couldn't have said it better myself. Meaning over money. Always meaning over money. Have a great day, all!

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It’s Not Fair

Pax was visibly shaken after watching Tyrese Haliburton go down early in game 7 last night. Haliburton, a former Cyclone and clearly the most clutch player in this year's NBA Playoffs, was lying on the floor in agonizing pain after tearing his Achilles. He immediately knew he was done (plus next season as well). In that moment, the Pacers' chance of winning a title essentially evaporated. 

Pax is right; it's not fair. It was a good teaching moment. It's not fair, and it never will be. Still, Pax was dumbfounded by how quickly everything changed. He went from believing Haliburton was about to win a title to knowing he probably won't see him play again until he's 10 (in October 2026 when the following season starts). It's not fair.

We didn't get too deep into it last night, but this is something he'll see more and more as he grows. Life isn't fair, and there's nothing he can do about it. As a parent, my job is to teach him to simply fight through the inequity, no matter what. Sure, be mad about the unfairness. Yeah, feel frustrated by it. But after that, fight. We fight, or we cower. We push ahead, or we step aside. We persevere, or we give up.

This is going to be a brutal experience for my kids. Time and time again, they will get a front-row seat at how unfair life is. My job isn't to protect them from it, but rather, to train them to push through it. As a parent, watching them deal with unfairness may be one of the hardest things I ever experience. However, it's critical we teach them through it, not try to help them avoid it.

This is something I watch play out in people's lives daily. It's somewhat easy to find success when things are going our way. Then, something happens. Something unfair. We unjustly lose our job. Someone rips us off. An irresponsible driver totals our car. How we handle these unfair situations is what determines if we'll ultimately be successful or not. This is where the rubber meets the road.

It's not a matter of whether we can get to the other side of this adventure without experiencing unfairness. That's an impossible task! Instead, what matters most is how we respond when life gets unfair. That's what I want to teach my kids. We will be closely watching Haliburton's journey back to the court. I have a feeling it will be an inspiring example of what it looks like to attack unfairness head-on.

Life isn't fair. It doesn't owe us anything. We will draw the short straw more times than we'd like to believe. It's all part of the game. Keep fighting.

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Memory Hacking

Between my travels, Sarah's travels, and Finn and Pax's travels, we haven't all been together as a family much lately. We're just now entering the part of summer where we'll get a lot of quality time together. Simultaneously, however, I have a behavioral quirk. As much as I try, I can't seem to shut off my motor when I'm at home. My wheels are always turning, and I go stir-crazy. I'm not proud of this, but I have come to recognize it for the problem it is.

With Sarah and the boys arriving back home around lunch yesterday, combined with me simultaneously finishing up a big client project and the fact that it was 100+ degrees outside, we decided to do a little memory hacking. We didn't have the time or budgeted funds for a major trip, so we decided to engineer a little staycation. We rented a hotel room in a different part of our metro and dedicated the day to making new memories.

• We stopped at Northern Vessel to pick up some CBLs and visit with the team.

• We shopped at the mall (the first time the boys have ever done that). Finn bought a new Minecraft Lego set, and Pax purchased a pair of football pants. Both were pleased with their decisions.

• We spent hours in the hotel pool (between stints in the hot tub).

• We shared a wonderful meal at a Mexican restaurant adjacent to our hotel (family style, of course).

• We ended the night with ice cream.

Out of the blue, while at dinner, Finn piped up, "Thank you so much for today, Mom and Dad. Today was one of my favorite days ever." Wow! That was so sweet for him to say. If I'm being honest, yesterday didn't feel particularly special. Nothing exotic, nothing wild, nothing expensive. Just a lot of intentionality. The kids felt it. They had a blast and showed much gratitude. Boy, we needed that.....I needed that.

Today, we'll leave the hotel and head directly to a local waterpark for day two of our little staycation. We're all excited; hopefully, many more memories will come.

Whatever is on your agenda today, I hope you find a way to engage in some memory hacking. It doesn't have to be extravagant or profound. Intentionality is the key ingredient. Cheers to a great day and lots of memories.

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I Don’t Support Him At All

Out of the blue, I received a DM from one of the most successful business owners I know. She wanted to know if I could connect her with the marketing agency we use at Northern Vessel for our photography. She loves our content and desires a similar vibe for one of her businesses. I told her I'd be honored to connect her, but we don't use an agency. It's just one young man named Noah; he's awesome, and I'd love to make an introduction.

I told this story to a few friends, and one of them responded, "I'm so glad you're supporting a small business like that. I'm sure Noah loves your support."

If you're a regular blog reader, you probably already know where this is going.

"Oh, I don't support him at all!"

"Wait, I thought you and Noah are friends....."

"We are friends, but Noah doesn't need my 'support.' He does awesome work, and that's all that matters. I’m just connecting one excellent business to another excellent business that might be able to serve the other well.”

"But people like him need support from us. It's the only way they can make it."

"That's ridiculous....and demeaning. He doesn't need people's support. He just needs to be excellent at his craft. His excellence is what makes it for him, and his excellence is the only reason I referred him to a friend. He earned that."

We can pursue support, or we can pursue excellence. Noah never asked for my support; he's too busy trying to be excellent. Noah is just a young man with a lot of talent and a crapload of passion. He's so hungry to do good work! If he wasn't excellent, my business owner friend would never have asked me for a referral, and if he wasn't excellent, I would never have given it. Noah earned that, and to assume anything else is an insult to his good work.

We all have the opportunity to be Noah today. The fruit of our actions will speak for itself. The conversations we foster, the art we create, the work we produce, and the results that materialize. Nothing good that happens to me today will be the product of someone's "support," and neither will yours. Therefore, I encourage you to abolish the word "support" and simply embrace the word "excellence."

Oh yeah, and if you're stopping by the Northern Vessel shop or our booth at the Des Moines Farmers' Market today and see a young man snapping photos, say hello! Noah would love to meet you.

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While the Sun Is Shining

Here's a little game we play in our financial coaching meetings. For whatever topics we're discussing (whether debt payoff, saving, giving, or investing), we run the numbers and determine, "If you do $x every month for y months, you'll meet your goal by _____ date."

This math is straightforward......and linear. One problem, though. Life isn't straightforward or linear. It's anything but either of those. Today's reality could disappear in a heartbeat, only to be replaced with a drastically different set of circumstances.

This is where it gets murky. Oftentimes, people want to know how little they can do each month to accomplish a goal by a certain date. In other words, if everything goes perfectly and life doesn't alter a bit, what is the least sacrificial path to achieve the desired goal? I think this is a recipe for disaster. After all, nothing goes perfectly, and whether we acknowledge it or not, our lives will be altered multiple times in the months and years to come.

Instead of taking this approach, I encourage people to make hay while the sun is shining, as the saying goes. We don't know what tomorrow will bring, so why not maximize the impact of today's reality? If you have extra money to throw at your debt over the next several months, throw it. If you have increased resources to contribute to your investments, harness them. If you're able to make more progress on your savings in the near term, embrace it. We don't know what will happen tomorrow!

A natural question spawns from this idea: "Well, what happens if we get too far ahead of our desired goal?"

This is a fantastic problem to have. It does NOT mean that we get greedy or selfish and turn ourselves into a hoarder. Instead, it gives us freedom and flexibility. If we make hay while the sun is shining (i.e., get more aggressive in the near term), we will inevitably have less pressure on us in the future. In other words, getting quicker momentum in the near term allows us the ability to downshift our intensity in the longer term. This could mean different career decisions, more money for generosity, and less financial pressure. This is a beautiful byproduct of making hay while the sun is shining.

There's no reason to arbitrarily put more pressure on our future selves. That's one reason not to go into debt or saddle ourselves with undo expenses. On the flip side, making hay while the sun is shining is also a tremendous way to combat the inevitable pressure our future selves will face. My clients who embrace this opportunity report significantly higher levels of satisfaction, peace, and freedom. It changes EVERYTHING.

I'll share some real-life examples in a future post (including from my own life), but in the meantime, I encourage you to ask yourself what area of your life you need to make hay while the sun is shining. Instead of doing as little as possible to eventually meet your goal, what can you do today to lighten the load for future you?

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More to the Equation

I recently spent some time with a former youth group kid who is now living a full-fledged adult life. He's doing great! He's one of those kids I thought would thrive as he worked through college and into the working world. We talked about many different topics, but he made one particular comment that struck me as blog-worthy.

In his early 20s, he's making approximately $75,000 in his desired field. I don't know what you think about that number, but to me, it feels like a stellar salary for this age.....unbelievably attractive! He proceeded to share that multiple other companies have offered him over $100,000 to jump ship and take a different job. Interesting!

When I asked him what he thinks of these other opportunities, he said they sound like great jobs in his desired field, and he'd probably like them. However, he turned them all down. Why? Because he LOVES his current job. The work, the people, the lifestyle it provides him. He's living his best life, and increasing his annual income by $25,000+ isn't worth risking his current life. Meaning over money.

I'm so proud of him for factoring more into the equation than just money. Money is money, but life is priceless. He's living such a blessed life right now. Would an extra $25,000 per year come in handy? Of course! He could do a lot of good with that money, but not if it comes at the expense of the beautiful life he's built for himself.

I'm not suggesting that he shouldn't have considered any of these other options. Doing so wouldn't have made him greedy or selfish. Any one of these jobs could be amazing for him, in more ways than one. However, for him, right now, it's not worth risking, given all the other factors in this equation. His maturity is so good!

There's more to the equation than money. I repeatedly watch people allow money to be the winning factor in the equation, only to feel guilt, regret, and resentment. More money isn't a bad thing, but it can be the worst thing if it comes at the expense of a meaningful life.

Applause to this young man, his promising career, and the beautiful life he's building. I'm so proud of him. I think we can all learn from his example today.

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Bohemian Rhapsody and Umbrellas

"Dad, can you take me to buy an umbrella?"

"Uh, sure, Finn, we can do that. Why do you want an umbrella?"

"Every man needs an umbrella."

I didn't have a comeback for that, but if the little man wants an umbrella, I'll take him to buy an umbrella. This is what I call closing the loop. First, we work. The work results in money. Part of the money is given. Some of the money is spent. Repeat. Work = money = generosity/spending.

So, if Finny wants to spend some of his money on an umbrella, that's how we're going to close this loop. Truthfully, he's worked hard this summer. Lots of mowing and other odd jobs. Hot, sweaty, sucky jobs. He doesn't always love the work, but he appreciates what it stands for.

So, when ol' Finn wants to jump in the car and go to the umbrella store, we ride! He was so proud of his new umbrella, but as we walked out of the store, he asked another question. "Is there anywhere I can buy a Queen CD?" Yes, an 8-year-old wanted to buy a 70s album.......in CD form. As a matter of fact, I did know a place where we could potentially score a Queen CD. Fifteen minutes later, we were rocking out to some Bohemian Rhapsody.

Closing the loop is so important, and on that day, Finn closed the loop in style!

Work = money = generosity/spending.

Work = money = generosity/spending.

Work = money = generosity/spending.

And the repetition continues.

Parents, keep at it. It won't always go perfectly (I'll talk about Pax another day....). Some loops will be effective, and some will flop. Some loops will be rewarding, and some will be a drag. But the loops matter, and the kids are learning (even when it doesn't seem like it).

Go create some loops with your kids today!

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A Dollar For a Dollar

One of my clients confessed to me that one of their budget spending categories adds almost zero value to their life. I'm not even going to share which category it is, as it's not important.....use your imagination.

Why, then, do they even spend money on x category? There's no real rhyme or reason other than they've always spent money on it, and everyone else does, too. When I pressed them on why they continue to spend this money even though it adds little to no value to their lives, they responded, "Well, it's not much money, so why does it matter?"

It's true. We're not talking about a ton of money here. Maybe $50 per month. However, there's a broader implication here. The problem isn't that they are spending $50 on this particular category. The problem is that every dollar we spend on one thing is a dollar we don't get to spend on something else. That's when I flipped the script on them. "If you could add $50 to any category in your budget, what would it be?"

Both of their eyes lit up. One immediately shouted, "Personal spending!" The other rebutted, "Travel or dining out."

See the difference? They had zero emotional energy when discussing this random $50 spent on a lame category in their budget, but when we looked at it through the lens of a dollar for a dollar, they lit up. This is the real friction of opportunity cost.

I spent many hours per week helping families recognize the true opportunity cost in their financial lives. It's wild how many of us mis-spend our money on something that matters not, when there are so many other uses that would move the emotional needle for us.

Maybe it is only $50, or $100, or even $10. If you're spending money on something that doesn't matter to you, reframe it through the lens of what you could be doing with it that would matter. Then, do it!

Here's my challenge for you today. Find some amount of money in your monthly spending that's not adding much (or any) value to your life. Then, rip it away from that lame category and repurpose it into a better category that you actually care about. Sure, it might not change your financial world, but it will absolutely move the needle in more ways than one.

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It’s Noisy Out There

Is it just me, or does the world feel extra noisy these days? I don't even need to inventory all the crazy situations and scenarios playing out locally, nationally, or globally. Things are intense right now! People are anxious and scared, and it feels like the ratchet is turning ever so, tightening our society one click at a time.

In just the past week, I've talked to multiple people (sane, normal, rational people) who are starting to unwind. The fear of the what-if has taken its toll, and that anxiety is manifesting in questionable decisions.

I think we need to stay true to the plan. Whatever your plan is, stay true. Now is not the time to throw your goals, plans, progress, and ideas into the trash. No rash decisions are necessary. You've worked too hard to let a moment of weakness or vulnerability cause it all to unravel.

If you're paying off debt, keep going.

If you're trying to top off your emergency fund, keep going.

If you're trying to lean into generosity, keep going.

If you're trying to lock in your investing behavior, keep going.

If you're trying to get on the same page as your spouse, keep going.

If you're trying to pursue work that matters, keep going.

If you're trying to create something beautiful, keep going.

Please, please, please don't let the noise around you knock you off course. Stay true. Practice the art of discipline, consistency, and persistence. The noise we're experiencing may create challenges in some form or fashion, but it doesn't define you. Even if other people set a torch to their finances, dreams, goals, progress, and relationships, it doesn't mean you have to. Stay true.

It's noisy out there. Don't let it overwhelm you. You got this.

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More Chapters To Be Written

Father's Day, 2016. That was an epic day for me. After nearly five years of waiting to become a father, I was about to spend Father's Day as an actual dad.....unreal! It was a moment I had dreamt about my entire life, and now it was here! My son was born three days before Father's Day, the perfect timing! Everything was lining up just right.

Did I say Father's Day 2016 was epic? Let me rephrase that. It was an epically bad day.....one of the worst days of my life! When I woke up on Father's Day, I wasn't a father. Just two days prior, Sarah and I lost our son, Asher. In a stretch of just 48 hours, I went from the highest of highs to the lowest of lows. Instead of spending Father's Day 2016 celebrating the miracle of life, I remember sitting in my typical front-row seat at church, head buried in my hands. Those 60 minutes in that church seat on Father's Day 2016 are some of the most painful and profoundly memorable moments of my life.

As with everything in life, there were only two options: 1) Let our new reality destroy us (which it almost did), or 2) Keep moving forward. We chose to keep moving forward. It was a mess, but with a lot of support and healing, we navigated through that season of life.

Just four months later, we were blessed with our twin sons, Finn and Pax, and life has never been the same. Despite the pain and suffering we've endured, I consider myself so blessed. I have nothing but gratitude, though I'd be lying if I said I don't still feel the pain of that prior loss. It's all part of the story.

Think about your favorite book or movie. I'm willing to bet the protagonist wins in the end. Victory, happiness, love, or defeating the bad guys. The hero always wins....eventually. However, if you open the book to almost any page in the middle, there's struggle, challenge, pain, suffering, and tension. The protagonist is fighting their battles, trying to achieve what will eventually end happily ever after.

While real life isn't "happily ever after," it does resemble a book. Wherever we're at in life, there are still more chapters to be written. Some of you are dealing with tremendous pain and suffering right now. I'm so sorry! But more chapters are still to be written.

I have clients facing unprecedented challenges and tension in their lives (financial and otherwise). I constantly remind them this is just one chapter of a beautiful story. And like all protagonists seeking their victory, this is their middle chapter, tension-building, gut-wrenching moment. This is where they have a choice: 1) Let their new reality destroy them, or 2) Keep moving forward.

Wherever you're at today, choose door #2. Keep moving forward. Remember that whatever you're experiencing in this season of life is just one of many chapters still to be written.

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Whole Isn’t Whole

I often receive a handful of related comments whenever I talk about the need to be excellent:

• Everyone makes mistakes.

• Where's the room for grace?

• Nobody's perfect.

• S*** happens.

All good points, but today, I want to debunk this argument.

How would you feel? You're dining at a well-respected restaurant with your family. One of your small children orders chicken. However, when the dish arrives, you cut into it and realize the chicken is completely raw. The server apologizes and says they will send out a new one. The new one eventually arrives, fully cooked, and the rest of the meal is largely uneventful. Other than (eventually) replacing the raw chicken dish with a cooked one, no other concessions are made. How would you feel?

How would you feel? A landscaping company is at your house doing some work. For whatever reason, a mistake is made, and they nick your irrigation line. The business owner apologizes and says they will have a professional repair it at no cost to you. How would you feel?

How would you feel to be on the receiving end of these two situations? Well, these are both real-life scenarios that played out last week, and in each, the customer was livid. The restaurant customer is a close friend, and the landscaping company business owner is also a friend. Why would both of these situations end poorly? After all, both customers were made whole.

Whole is not whole, that's why. When a mistake is made, whole isn't enough. Excellence doesn't mean perfection. Excellence doesn't mean we won't make mistakes. Excellence means being better and doing better in all things, including on the heels of mistakes. You WILL screw up. You WILL fail. You WILL botch it. The mistake isn't what defines you; it's how you respond after the mistake that separates excellence from bleh.

In both situations, the business owner should have made the customer whole......PLUS another step.

For my buddy that received raw chicken, maybe the restaurant comps that dish and throws in a dessert. Maybe they comp the entire meal. Maybe they give them a gift card on the way out the door. Whole is not whole, and they blew an opportunity to send my friend away with an amazing story of excellence (plus many return visits).

For my buddy who made a mistake on the landscaping job, he, too, had options. Maybe he could have offered a discount on the job. Or perhaps hand the homeowner a handwritten card with a restaurant gift card in it. Or offered a complimentary follow-up service. Whole is not whole, and he missed an opportunity to create a lifelong customer. He’s a young business owner, and I think he’s going to nail this one next time!

This isn't a blog about IF you make a mistake. It's only a matter of WHEN you do. It's coming. You might even screw up today......I'm sure I will! Excellence isn't defined by how little we mess up. Rather, it's about how we respond when we do. Whole is not whole. Take one more step!

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Destroy the Bar

My friend was beyond frustrated. He had just fired an employee, but right before that, another stopped showing up. My buddy owns a successful landscaping company. "Travis, if you know anyone who wants to work, let me know. We pay good money."

"You bet," I responded. "What particular skills are you looking for?"

"Someone who will show up and show up on time. That's it. We can teach the rest."

The bar has never been lower. In a field that requires certain skills, my business owner friend simply needs people who will show up. I asked if he cares about people being hard workers. "Well, that's preferred, but the most important part is that they are present. I'll take that!" Again, the bar has never been lower.

Sarah and I spent the last two days in a lake town at a waterfront hotel. The boys are at Grandma and Grandpa's house, so we have a few rare days of alone time. We've had a blast catching rest, sun, and relaxation. We've also hit a bunch of the local restaurants, bars, and coffee shops. Let's just say the results have been wildly mixed. Translation: The bar has never been lower!

Between the service, food quality, hospitality, cleanliness, and timeliness, it's been a wild experience. Very few places are doing things well. Yet, despite that, many appear to be succeeding. I found myself wondering what would happen if someone set up shop with an explicit goal of being excellent. They would take over this little world! Why? Because the bar has never been lower.

I'm not picking on this particular town. I see it every day in every city, including my own. "Good enough" seems to be the motto of our day, creating a sleepwalking culture where businesses look to the left and look to the right, trying to determine how little effort must be exerted to stay on par with their peers. If the bar is low, expectations can remain muted and still eke out a victory they call survival.

I'll share an example of someone who doesn't give two rips about the bar. Sarah and I walked into a little deli. It was bright and vibrant, with a ton of energy.....you could feel it. The front of the store was stocked with a unique mix of products. The back half, though, was where the magic happened. There was a deli counter on the left, with two women ripping out gorgeous sandwiches and slinging little tubs of homemade salads. As I approached the counter, one of the women greeted me like I was her long-lost nephew. She was patient while she excitedly helped me navigate my choices.

The second woman was eager to scoop me up a few salads to pair with our sandwiches. She, too, couldn't have been more cheery. Lastly, with sides in hand, we turned to the right, where we were greeted with a counter full of handmade desserts. Another woman was there to joyfully ring us up and close out our experience. Even before we tasted the food, we were served an experience. By the way, the food was ridiculously good! This place is striving for excellence, and I suspect they are finding success. They see how low the bar is, then crush it.

That's our mission today. Recognize how low the bar is, then destroy it.

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Never a Straight Line

Success is a funny thing. When we watch other people experience wins, it looks like their success is a straight line, up and to the right. However, our own personal journey never seems to be the same. It feels more like a jagged stock market chart, with ups, downs, peaks, valleys.....and more valleys. It feels anything but "successful."

I think we're too hard on ourselves. Or, to be more precise, I think we're looking at the wrong things when judging ourselves. Remember that one time a friend coaxed me into buying a biometric scale? This scale has played a major role in my health journey since February. Specifically, I've been focusing on reducing my body fat percentage. I jump on the scale every morning as soon as I wake up, and the data stacks up over time. Here's what a typical month can look like:

I went in the wrong direction on 12 of the 29 days! It's not supposed to feel this crappy. I make wise choices, eat intentionally, and get a ton of steps, yet more than one-third of the time, I fail. Or, that's one way to look at it. Sometimes, we're too zoomed in and miss the bigger picture. The following image is a weekly snapshot since starting this endeavor in February:

The line seems to be going in a better direction, but I again went in the wrong direction in five of the 17 weeks. It still feels kinda crappy! Or, that's one way to look at it. Maybe I'm still zoomed in too far. The following image is a monthly snapshot since starting:

Oh! That doesn't feel so bad. In fact, that almost looks like a convincing win. I'm going in the right direction! Even on the days or weeks it doesn't seem like it, I'm achieving my goals! Success is never a straight line. Sometimes, we just need to zoom out to give ourselves a clearer perspective.

My financial coaching clients often experience something similar. They’ll blow their budgets, whiff on paying off debt, miss their investment goals, and get into marital money fights with each other. It can feel demoralizing. That’s when I step in with a zoomed-out view and show them that while they might have just experienced a bump in the road, look how much progress they’ve made so far! It’s never a straight line, but if we zoom out enough, it looks pretty dang good.

Whatever you're trying to accomplish, please don't beat yourself up over the micro results. Instead, obsess over the micro inputs and measure the macro outputs. You'll stay sane, crush your goals, and thank yourself for keeping the correct context in mind. It's never a straight line; not for you and not for them. Enjoy the bumpy journey.

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Knowing Your Worth

I witnessed something atrocious yesterday.

As I was waiting to get a haircut, the other barber in the shop had a peculiar interaction with a customer. This customer asked the barber for a jar of hair product, and the barber quickly obliged by grabbing it off the shelf and handing it to him. "How 'bout I give you $11 for this?" The barber looked stunned; stunned enough that she froze and looked uncomfortable. The shelf price is $24, by the way (it's the same product I use). A few more interactions happened, but I didn't hear. She eventually responded, "$11 is fine." But then, I heard him ask, "Well, what does it cost you?"

While cutting another man's hair, my barber jumps in, "It costs her $12." The man, being ever so thoughtful and generous (tongue in cheek), said, "I don't want you to lose money. I'll give you $12." I can't put in writing the things I wanted to do to that jerk. He couldn't have been more demeaning in his approach. In short, he treated her like a single penny of markup on the product from her cost would have been unfair to him. Again, I wanted to do things that would have landed me in jail.

Whether you're an entrepreneur or work in a traditional job, I cannot stress enough the importance of knowing your worth. Sure, some people think they are worth far more than they are (you know who I'm talking about!). However, most of us far undervalue ourselves....especially small business owners. Yesterday, that barber grossly undervalued herself. Selling product is a meaningful part of her business's revenue stream, and some jerk weaseled his way in and undercut her.

I have a rule in my coaching/consulting services. If I quote a package for a prospective client and they ask for a discount, I won't let them hire me....not even at full price. Their request means they don't value what I'm bringing to the table, at least not to the level of what I'm charging.....and that's okay. My services aren't for everyone. Some people don't want my services at all. Some people want my services, but at a much lower price. Neither of them should hire me. It means I'm not the right person for them. I'm not mad at them for it, and I certainly don't take it personally. But that's not the right client for me.

It reminds me of a moment I had early in my coaching career. One of my friends suggested that I immediately double my rates. Hesitant, I told him I would tentatively give it a shot later in the day, as I had two consultations. I quoted both prospects the same price, roughly double as my friend suggested. The first prospect said it was the biggest discount in the world and asked if we could start immediately. The second prospect said it was a massive ripoff and people would be stupid to hire me.

Whatever you do, it's not for everyone. Your hourly wage. Your annual salary. Your sales commission. Your fee. Some people will laugh at you, calling you a ripoff. Others, though, will see what you really bring to the table and will eagerly pay you to serve them well. Know your worth, and don't let a couple jerks knock you off your path.

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The Three Invisible Legs

Warning: Non-traditional post….and a bit longer than normal. I felt conflicted, but ultimately decided I needed to take this tangent today.

Shockwaves were recently sent through my community when a popular restaurant unexpectedly closed. It's a newer restaurant that's known to be quite busy. Social media was abuzz, with many commenters dumbfounded by how a business as busy as this can't make it financially.

There were, of course, the obligatory comments about tariffs, evil landlords, how there are already too many restaurants, and people not "supporting" small businesses (which is ironic considering the place was constantly packed).

Several people sent me news articles about the closure, asking for my perspective. As a society, we judge how good a business is doing by how much traffic it has. After all, it's tangible. More people equals more revenue, and more revenue equals more profit.

Today, I want to discuss what I refer to as the three invisible legs of business. Like a real three-legged stool, a business needs all three of these legs to stand firm. If one or more is missing (often the case), the business is at risk of faltering. With that setup, here are the three legs:

First, capital structure. This refers to how the business is funded. Some businesses require little capital to launch, creating little to no capital structure tension. However, if a business owner relies heavily on debt, the financial burden of this capital structure can feel heavy. Consumers can't see how this dynamic silently and brutally plays out behind the scenes. The moment a business owner creates the capital structure is the moment a certain level of risk/pressure is introduced (or not).

Second, overhead. One of the other hallmark moments that defines a business's financial fate is when its overhead is established. Think about these as fixed costs. Rent, utilities, insurance, software, labor (for non-service businesses), etc. These expenses must be paid whether or not a single penny of revenue is generated. And depending on how the business owner approached this, it can feel anywhere from light as a feather to an anvil tied around your ankle.

Third, gross margins. This is one of the least understood nuances of business.....even among business owners. The gross margin is how much profit each good or service generates when sold. For example, if a retailer buys a t-shirt for $10 and sells it for $15, it generates a 33% gross margin ($5 profit divided by $15 sale price). However, the underbelly of gross margins in most people's businesses is that they don't account for the full cost. Let's use the same t-shirt example. Not only do we need to include the cost of the shirt, but also the card processing fees, tags, bags, and any other nuances. Let's say these costs account for an additional $3. Instead of a $5 profit, it's actually only $2.....which is a 13% gross margin. Margins matter so much! If a business doesn't have satisfactory margins, they won't even be profitable if they sell a billion dollars worth of goods!

This is where all three invisible legs get slotted together. There needs to be enough sales at a high enough gross margin to overcome the capital structure and overhead.....plus enough to provide a sustainable profit. All three legs matter so much, and this is where many businesses are whiffing. It's a simple concept, but difficult to execute.

I’ll close with an example:

Business A generates $45,000 of monthly revenue at a 35% gross margin. That’s $15,750 of gross profit. After subtracting $11,000 of overhead and $4,000 of debt payments, it has $750 of profit remaining.

Business B generates the same $45,000 of revenue, but at a 50% gross margin. That’s $22,500 of gross profit. After subtracting $7,000 of overhead and $1,000 of debt payments, it has $14,500 of profit remaining.

It looks the same from the outside, but behind the curtain, Business B is making nearly 20x as much profit on the same amount of sales. These dynamics can be staggering!

Consumers, hopefully you find this interesting and make you see things differently next time you go into a business. Business owners, please focus on these three legs; your survival and success depend on it.

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Losing Track

Most people have a stark understanding of the rhythms of their week. They can feel it in their souls. What makes me say this? The vast majority of people have a little internal clock that counts down to Friday. There's an anticipation that builds all week, culminating with a euphoric feeling as Friday afternoon approaches. Then, as the weekend wears on, the opposite happens. As the weekend fun ticks on, a little sense of dread starts building, particularly on Sunday afternoons. Some call it the Sunday Scaries. But in any event, most people have a good feel for their weeks.

While I know this feeling intimately, that's not how I experience life today. My day-to-day and week-to-week experiences are quite different, and borderline disorienting. If I were to put a checkmark in the "con" category of pursuing work that matters, one might be this: Every day feels the same.

No, every day doesn't look the same. I do different things each day, and my work varies widely. However, my perspective of my days and weeks doesn't deviate. I can't tell weekdays from weekends. I can't discern the night before a work day and the night before a day off. I don't have an internal clock that says tomorrow should be Friday, or a sense that Monday is approaching. Every day feels exactly the same to me.

On one hand, this is an awesome feeling. I look forward to each and every day, regardless of whether it's a work day or a vacation day. I wake up with a bold sense of anticipation and excitement.

On the other hand, I lose track of time. I never remember if tomorrow is a work day or a weekend. I wake up most mornings not immediately knowing if I'm supposed to work or relax. It's surreal.

I never really thought much about this feeling until a client brought it up. He explained a similar concept in his life, and up to that moment, I just thought I was the only crazy person who felt this way. Now, I'm beginning to understand there's an entire group of people who experience this surreal dynamic to their rhythms.

For as weird and disorienting as this feeling is, I decided I'm going to chalk it up as a win. After all, if we're looking forward to each day, regardless of what degree of work or play it entails, that should tell us something about the life we're pursuing.

Does this resonate with you? Can you relate? I'm curious how people respond to this idea. Am I crazy? Does this even sound appealing? Please react to this and share what's on your mind. I hope you have a great start to your week. Wait, it is Monday, isn't it?

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