Latest / Go Big with Gib Podcast / Ep 141. Buying A Boat to Stop Waiting on Life

Transcript

Ep 141. Buying A Boat to Stop Waiting on Life · Go Big with Gib Podcast

• 0:00
  SPEAKER_00: Welcome to the Go Big With Gibb Podcast, where we talk to professionals, business owners, and entrepreneurs about their big wins.
• 0:10
  SPEAKER_00: Welcome back to Go Big With Gibb.
• 0:12
  SPEAKER_00: Today I want to talk about a purchase I recently made, a boat.
• 0:15
  SPEAKER_00: Now, before you tune out and think this episode is about engines, fishing, electronics, it's not.
• 0:22
  SPEAKER_00: It's about time.
• 0:23
  SPEAKER_00: I'm 47 years old.
• 0:25
  SPEAKER_00: My kids are 12, 9, and 6.
• 0:27
  SPEAKER_00: For years, I told myself I would buy the boat later.
• 0:30
  SPEAKER_00: You know how that goes.
• 0:31
  SPEAKER_00: When the debt is paid off, when the market settles down, when business is less busy, when the timing is perfect, when I finally deserved it.
• 0:39
  SPEAKER_00: There was always a reason to wait.
• 0:41
  SPEAKER_00: And on paper, waiting sounded responsible.
• 0:44
  SPEAKER_00: After all, I've spent most of my adult life doing the things financial experts tell you to do.
• 0:49
  SPEAKER_00: Pay down debt, invest consistently, delay gratification, think long term.
• 0:54
  SPEAKER_00: That discipline built everything I have today.
• 0:56
  SPEAKER_00: But recently I had a realization if I keep waiting for the perfect time, I'd probably buy the boat when I'm 55.
• 1:02
  SPEAKER_00: And at age 55, my kids won't want to spend every Friday on the water with me.
• 1:07
  SPEAKER_00: They'll be in high school, college, starting careers, building lives of their own.
• 1:12
  SPEAKER_00: The window will have closed.
• 1:13
  SPEAKER_00: That's when it hit me.
• 1:15
  SPEAKER_00: The timing wasn't the problem.
• 1:17
  SPEAKER_00: The timing was the opportunity because while money can be earned back, childhood cannot.
• 1:22
  SPEAKER_00: You can make another dollar.
• 1:23
  SPEAKER_00: You can't make another summer with a six-year-old.
• 1:26
  SPEAKER_00: You can't create another year when your daughter still wants to sit beside you at the helm.
• 1:31
  SPEAKER_00: You can't rewind time.
• 1:32
  SPEAKER_00: And for some reason, we treat money like it's scarce and time like it's unlimited.
• 1:37
  SPEAKER_00: The truth is exactly the opposite.
• 1:39
  SPEAKER_00: Money is renewable.
• 1:40
  SPEAKER_00: Time isn't.
• 1:41
  SPEAKER_00: So this month, I sold my old boat and bought a new one.
• 1:45
  SPEAKER_00: Not because the math was flawless, not because interest rates were perfect, not because some spreadsheet told me it was the optimal financial decision.
• 1:53
  SPEAKER_00: I bought it because the clock is real.
• 1:56
  SPEAKER_00: And I think that's a lesson many successful people struggle to learn.
• 1:59
  SPEAKER_00: We get so good at building wealth that we forget why we're building it in the first place.
• 2:04
  SPEAKER_00: We postpone enjoyment.
• 2:06
  SPEAKER_00: We postpone experiences.
• 2:08
  SPEAKER_00: We postpone memories.
• 2:09
  SPEAKER_00: We tell ourselves we'll do it later, but later keeps moving and eventually later becomes never.
• 2:15
  SPEAKER_00: I'm not advocating reckless spending.
• 2:17
  SPEAKER_00: I'm not saying go buy things you can't afford.
• 2:19
  SPEAKER_00: Discipline matters, delayed gratification matters, investing matters, all of those things matter.
• 2:25
  SPEAKER_00: But discipline without living is just hoarding.
• 2:27
  SPEAKER_00: At some point, the purpose of wealth has to become life.
• 2:31
  SPEAKER_00: The purpose of saving is eventually using.
• 2:33
  SPEAKER_00: The purpose of investing is eventually enjoying.
• 2:37
  SPEAKER_00: The purpose of freedom is eventually taking it.
• 2:39
  SPEAKER_00: And that's why this summer is different for me.
• 2:42
  SPEAKER_00: I'm taking Fridays off, I'm putting the phone away, and I'm taking my kids out on the water.
• 2:46
  SPEAKER_00: The emails can wait, the deals can wait, the portfolio can wait, the market can still open on Monday, but my kids won't be 12, 9, and 6 forever.
• 2:55
  SPEAKER_00: In fact, they'll only be these ages once.
• 2:57
  SPEAKER_00: And when I look back 20 years from now, I doubt I'll remember what the SP 500 did this summer.
• 3:03
  SPEAKER_00: I probably won't remember how much Bitcoin was trading for.
• 3:06
  SPEAKER_00: I won't remember the balance in my brokerage account, but I'll remember the boat rides, the fishing trips, the laughs, the sunscreen, the music, the days when the world slowed down and my kids were all together.
• 3:18
  SPEAKER_00: Those are the returns that matter most.
• 3:20
  SPEAKER_00: So if you're waiting for the perfect time to make memories with your family, here's a reminder the perfect time never arrives, but the opportunity does, and one day it disappears.
• 3:30
  SPEAKER_00: Don't miss it.
• 3:31
  SPEAKER_00: Thanks for listening.
• 3:32
  SPEAKER_00: Until next time, go big.
• 3:38
  SPEAKER_00: Thank you for listening to this episode of Go Big with Gib.
• 3:41
  SPEAKER_00: If you haven't already, go follow us on social media at Gib Irons.
• 3:45
  SPEAKER_00: We'll see you next time.