As people achieve financial freedom, some feel compelled to display more and more of their wealth. It may come from pride or social ambition or something harder to name.

In the musical Hamilton, the characters frequently admit, “I will never be satisfied.” This is the trap of buying for show, manifesting itself in expensive homes, luxury products, and conspicuous consumption.

Even Alexander Hamilton, who built the national financial system we still use today, struggled with this concept. He focused so heavily on the appearance of being a gentleman that historians say he nearly left his family destitute.

The paradox is that those who strive to look rich may never actually accumulate much in the way of assets. Meanwhile, those who choose to be rich may have a better chance of learning to spend well. They come to be able to afford vehicles that provide the most comfort, homes that make daily life better, generosity to descendants or causes, and travel to dream destinations.

But they didn’t get there by choosing a drawer full of $10,000 watches when perfectly adequate $39 watches exist.

As the show reminds us, “Look around, look around at how lucky we are to be alive right now.” It’s what Alexander Hamilton kept missing, that mix of investing for the future while enjoying what’s available today. He struggled to find joy in the comfort of home, the ability to travel, or working toward the financial security of his family’s future.

We may not want to follow his example, but the show provides other options. There is a beautiful line that defines legacy as “planting seeds in a garden you never get to see.” We only control our own choices. The everyday millionaires learn this early. A well-managed portfolio is one way of planting that garden (or orchard) for the people who come after us.

If you would like to talk about this or anything else, please email or call.

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