Every so often, I’ll do a thought experiment I call “If I was a rich man…” It’s usually instigated by reading about some athlete’s huge contract, a celebrity’s net wealth or the latest CEO who is fired with a golden parachute of 10s or 100s of millions.
Here’s an example of how it works. Let’s say I read that Mr. X is worth $200M. I’ll assume my net worth is $1M to make the math easy.
What would I do if I had $200M?
- I could own my entire neighborhood, instead of just my house.
- I could have a fleet of 200 cars.
- I could buy the most expensive, organic, grass fed beef at the grocery store.
- I could replace my sliding glass doors with real swing doors.
- I could buy a turnkey condo (or house) in Florida, Arizona or California to relocate to for the cold winter months.
- I could give lavish gifts to friends that would be life changing – like paying off their mortgages or college loans.
- I would have a private, heated indoor lap pool where I could swim year round without worrying about closures, swim teams or crowded lanes.
- I could have a staff to deal with all the inconveniences of life – errands, cleaning, shopping, lawn care etc.
Then, I think, well I don’t have $200M and never will. Not only that – what would I do with dozens of homes, a fleet of cars or servants? I don’t even want these things.
Then I ask myself this question:
Is there anything I can do to make a significant improvement in my life right now? If so, can I afford it and is it worth the cost?
Last year, this led me to join the YMCA for access to a “backup” pool when my regular pools were closed. I don’t have a private lap pool, but I’m closer to swimming everyday that I want to.
Six months ago, I stopped buying the absolute cheapest 75/25 ground beef in a tube from Cargill and instead bought freshly ground 80/20 ground beef. This upgrade resulted in better tasting meatballs, less fat waste, a better consistency of meat and no hidden tooth cracking bone chips.
On Christmas Eve this year, I splurged for a one day pass to swim at the local Lifetime Fitness. It was $50! But I figured, I can afford it for once or twice a year (I’ll do it on Easter if they’re open too).
As for moving somewhere warm for the winter, I can’t afford it. Financially it would be impossible and logistically it gives me a stomachache to think about. So instead, I turned my heat up a few extra degrees, I run my portable heater in the garage a little more often when I’m working out and I now own all the right cold water clothing to ensure I’m not shivering whenever the temps drop below 50 (or god forbid, on the rare days it’s under 30).
I am not a rich man. But sometimes, I can make little changes in my life so I feel like one.