Nick Covyeau 4/27/25 Nick Covyeau 4/27/25

Why More Money Doesn't Always Mean More Freedom

We’ve talked a lot about the relationship between time, health, and money — and for most people, accumulating money takes time.

But here’s a reality that often gets overlooked:

In the pursuit of more money, you're often giving up something far more valuable —
Your free time and your health.

Health will always be more valuable than money.

And to get the most positive life experiences at any age, you must balance your life, and this requires you to exchange an abundant resource in order to get more of a scarce one.

Remember the famous Confucius quote of, “A healthy man wants a thousand things, a sick man only wants one".”

The Tradeoff You Might Not Be Thinking About

When you work additional years just to build more savings — probably more than you actually need — yes, you are gaining more money.

But at the same time, you’re losing more free time and your health is gradually declining.

More money doesn’t equal more experience points.

Every extra day you spend working is a day you give up the ability to use your time freely — and it’s a day closer to the reality that your health won’t be what it once was.

Example: If you delay retirement by five years to save more, your health doesn’t stand still during that time.

It declines by five years too.

That’s five fewer years when you could have been healthier, more energetic, and able to experience life more fully.

And here’s the real kicker: Those five years of extra savings often don't even begin to make up for the value of the experiences you lost.

This isn’t about abandoning careful planning or rushing into retirement overnight. It’s simply a reminder that as you plan, time and health deserve just as much attention as dollars and cents.

Start Thinking About Wealth Differently

Instead of thinking about your net worth as a dollar amount, I want you to think about it as a date.

The "peak utility" of your money — when it’s the most valuable to you — isn’t when you have the most dollars stacked up. Rather, it’s when your health, time, and money all intersect in a way that lets you enjoy life the most.

Let’s break it down:

A dollar in the hands of a 30-year-old — who is active, adventurous, and healthy — can use that dollar to fulfill meaningful experiences and memories.
That same dollar in the hands of someone in their 80s might not buy the same level of enjoyment, simply because of physical limitations.

IMPORTANT: This isn’t to say you can't enjoy your money well into your 80s and 90s.

You absolutely can — and you should.

It’s just that how you experience it will naturally evolve over time. And may look different than how you once enjoyed it in your thirties and fourties.

The point is, as you approach retirement with time and health still in your favor, it's worth considering — what if you began viewing these gifts through a different lens?"

Could you begin enjoying some of those meaningful experiences now — instead of putting them off for “someday”?

In short: Money has diminishing utility as we age.

You either get less enjoyment out of the same dollar, or you need to spend more dollars to achieve the same level of joy.

The Takeaway

Saving and building wealth are critical — but at some point, the goal should shift.

Not toward more money, but toward more life and more experiences.

Your best wealth is measured in experiences, health, and time — not just dollars.

Knowing that, go and spend it wisely.

Nick Covyeau 3/14/25 Nick Covyeau 3/14/25

MARKETS TAKE THE STAIRS ON THE WAY UP AND THE ELEVATOR ON THE WAY DOWN

What happened to all the optimism from a few months ago?!

It’s gone.

Poof! It’s like it just evaporated overnight.

With the market down close to 3% in back to back weeks, something interesting happened:

Investor sentiment seemingly has fallen off a cliff.

Well, That Escalated Quickly

In an environment that is rapidly turning pessimistic, volatility is spiking, bond yields are falling, and the stock market is dropping from its recent highs, now roughly back to election day prices.

Investors aren’t just worried about the stock market.

There seems to be broadening concern about the future of our government, that our economy might implode, that Social Security and Medicare are in doubt, that global trade will come to a screeching halt, that geopolitical conflict is a real possibility, and so on.

It’s almost as if many investors feel that the world is at an inflection point.

So much so that I'm hearing people repeat the four most dangerous words in investing:

"This time is different."

While I could cite many examples of times when the world was, by most accounts, much scarier than today...

I know that recounting those events would be anything but helpful in this moment.

Those events are now distant memories, and we recall them as far less troubling because we know everything turned out fine.

But they were tenuous times, to say the least.

Despite history, many pundits are describing today’s surprises and uncertainties as “unprecedented.”

But are they?

As writer Kelly Hayes once said:

“Everything feels unprecedented when you haven’t engaged with history.”

Admittedly, it’s difficult to maintain patience and discipline in a world that feels like it’s falling apart.

I get it. I really do.

While I’m confident that history is as relevant as ever, I’ll admit that it may not provide much comfort as the storm clouds grow larger overhead.

But here’s a hard truth about today’s world:

Enduring uncertainty will not get any easier.

Our respective political preferences are irrelevant.

Thanks to our 24/7 access to real-time “news” that inevitably suits our pre-existing biases, we’re exposed almost exclusively to events that raise our blood pressure.

We’re all fed headlines that promote maximum anxiety and rage because that’s what keeps us coming back for more.

It’s as unfortunate as it is true.

So what can we do?

With all that said, I want to offer an idea that might encourage confidence and comfort when you feel your blood pressure rising.

Here it is: Remember that….

It is YOU who has put in the work.
It is YOU who has saved your hard earned dollars.
And it is also YOU who has planned meticulously for incredibly wide-ranging scenarios to make you and your financial plan as resilient as possible.

Does financial planning guarantee success?

Of course not.

But good planning does encourage confidence that you are prepared for the unexpected, regardless of how it presents itself.

We’ve known all along that uncertainty would return.

It always does.

But my reminder to you is that times like right now are not a time to abandon your plan.

In fact, this is when the planning you’ve done is most valuable.

Times like this are exactly why you have spent countless hours thinking, planning, and strategizing.

It’s all been in preparation for the incalculable world we live in.

I’m not asking you to believe that we know when or how things will calm down.

I am simply encouraging you to have faith that you've done the necessary work and that you are as prepared as reasonably possible for whatever comes your way next.

This too shall pass.

Eventually.

Thank you, as always, for reading!