Go ahead and buy the latte!
One major academic finding reported that spending money for an experience – concert tickets, exotic travel, cocktail bitters classes – produces longer lasting satisfaction than spending money on plain old stuff. But even the authors of that academic study acknowledge that “Whoever said money can’t buy happiness simply didn’t know where to go shopping”.
For years, financial writers have been scolding us on the dangers of discretionary spending, particularly that $5 latte a day habit. Refreshingly, I read a Bloomberg article earlier this year where the writer, Barry Ritholtz, tells us why “A Latte a Day Isn’t Going to Ruin Your Retirement”. His personal blog post is a little more blunt, “Buy Yourself a F*^king Latte“.
At Amy Bush Commercial, our clients all have goals of financial success. I have found that the entrepreneurs, professionals, and investors that I have the pleasure to work with on a daily basis are wisely managing their portfolios, building capital, and saving for their retirement and posterity. I don’t recommend conspicuous consumption, but my unsolicited advice today is (borrowing from Sheryl Crow) If it makes you happy; It can’t be that bad.
So if I see you Sola Coffee Cafe or the Apple Store, be sure to wave and say hi.