So many things on my mind…where do we even start? War in Ukraine? Will Smith and Chris Rock? Whatever anyone on either end of the political spectrum is upset about today? So many things and so little time! And to top it off, it’s April Fool’s Day, which gives me the option of writing something that doesn’t even have to be true.

Instead, I’m going to hit on a few things I think I think below.

Human Quirkiness

Human beings are funny creatures. I’ve long felt that our humanity is defined by a very clear struggle and contradiction, but one with no easy solution.

Every man and woman ultimately desire their freedom, personal liberty, and security. But, at the same time, every man and woman also want every other person to act exactly the way they do. Meaning, “I should be able to do <insert whatever> because it’s a free country. And, NO! You may not do <insert some other behavior>!” I’m certainly being simplistic, but I think this pretty well defines the majority of our problems with being able to co-exist. Liberty for me and my tribe, but for you and your tribe? Do as I say.

I read about another fun little oddity with human behavior by the famed New York Times columnist and financial planner Carl Richards this week, too. He was writing about the human need to compete, and constantly be better, than everyone else.

So let’s set the table for this discussion by understanding two of my very favorite cocktail party statistics (my wife is so sick of me using these and I do so so frequently that she actually thinks I’ve made it up…but I haven’t). As I like to say, and the number will vary but the point remains, ~90% of drivers in America believe they are above average drivers. Which, of course, cannot be true.

In a statistical impossibility, over 50% of adults consistently report that they are above average. Almost all drivers think they are better than the average driver. 94% of college professors believe that their teaching skills are above average. A survey of high-school students found that 70% described themselves as above average leaders. Is everyone engaged in egotistical self deception? ~Priceonomics.com

The corollary to this statistic is even funnier. When surveyed, only 28% of Americans that have $1 million of invested assets (meaning they have actually saved $1 million in their careers) believe they are “rich”. Christopher Ingrahm of the Washington Post wrote a piece on the study back in 2015. In his words, Americans define “rich” as anyone who makes more money than they do but they rarely describe their own financial situation in that manner.

What an amazing world, right? We’re all above average and nobody is rich! (or, everyone else is rich?)

Anyway, back to Richards. In his weekly newsletter, he was discussing a recent study done by Harvard in which they asked people about two different job opportunities and how much they would pay. Here is the breakdown:

The majority of people surveyed selected Option 1. They didn’t care that they would have more money, all things being equal, with Option 2. They just wanted to make sure that they made more money than everyone else. Speaks volumes, doesn’t it?

Things That Are Worth It

We obviously spend a lot of time in the offices of Noble Wealth Partners thinking about and advising people on their money. Spending money is one of the most personal to the client and thus the hardest to give advice about. On one hand, it’s really basic: spend less than you make, and save the rest. On the other hand, it’s complex. Should I have a mortgage? How much should we spend on that first home? Should I buy a new car, a used car, or lease?

There are so many things we can spend our money on, what is actually worth it these days? Here are a few of my thoughts:

Worth it: my family subscription to Spotify

Yes, I know the economics are not friendly to the artists - my brother and a good friend are both musicians - but I’d be hard-pressed to name an application I use more than Spotify. In our youth, we would have to spend $15 to buy a new CD. Today, for $15/month, I can listen to whatever I want in any room in the house, while I walk my dogs, or in my car.

Not worth it: various streaming services

There is an old adage in advertising that goes like this, “I know I’m wasting half my money on advertising, I just don’t know what half.” That’s how I feel about all of the streaming services available to us today. Half of them are a waste, but that half is hard to pinpoint. I used to long for the day that cable and satellite TV packages were replaced with a-la-carte choices, but I was sorely mistaken.

PS - subscriptions can really creep up on any household…be mindful of how much money you spend on all of these items on a monthly subscription basis

Worth it: taking any kind of trip with my family and friends

Experiences are almost always worth the expense, especially as my kids get older and the oldest gets ready to leave us to go to college.

Not worth it: taking the latest flight or adding a connection to save money

When traveling with 5 people, the cost of plane tickets is overwhelming. I occasionally get cute and try to push things by taking an extremely late (or early flight) or, as recently as last week, adding a connection to a flight to save some money. But in the moment while you're waiting at the gate for a perpetually delayed departure, when you are wishing with all your might that you could just get home, you would pay almost any price to have had that more convenient or direct flight. Just do it on the front end and make yourself (and in my case, my wife) happier.

Worth it: our house

We’ve lived in the same house for 15 years and my kids have grown up in a lovely neighborhood with great schools. The increase in value has just been gravy.

Not worth it: our first house, or “starter home”

The most common advice that my wife and I received following our wedding was to buy a house, any house, that we could afford so that we didn’t “waste” money on rent. To be frank, this is horrible advice. Rent is not “wasted” money, and renting gives you extraordinary leverage in your youth to move around and try different opportunities. Instead of trying to buy a house that you’re not sure you really want, save more money for longer and rent. You never know what that added flexibility could add to your life and career.

Worth it: drinking a bottle of wine with my wife and friends

I’ve never regretted opening a bottle of wine and sitting down and enjoying it with my wife in the evening, or with a group of friends. Ever.

Not worth it: drinking one more bottle of wine than we should have

Asking that question, “should we have one more glass?” is the kiss of death.

Noble Wealth Pro Tip of the Month

Tax Day is on the radar. It is just weeks away. Are you prepared? Have you gathered all of the information that you need to complete your tax return? This is not an April Fools joke.

More importantly, Tax Day also marks the last day you can make contributions to your IRA or Roth IRA, depending on your income levels.

I think tax day needs a new spin. Perhaps we can start calling it IRA Day? Contributing to your IRA or Roth every year is a wonderful privilege that not everyone is lucky enough to be able to do. If you are about to make your IRA or Roth IRA contributions for last year, we salute you. If you don’t know what an IRA or Roth IRA is, then we’d like to talk to you.

Things We’re Reading and Enjoying

How to Be Perfect: The Correct Answer to Every Moral Question | by Michael Schur

Schur is the creator of the show A Good Place and the co-creator of Parks & Recreation, as well as a writer from The Office. All amongst my favorite shows of all time, Schur's comedy chops are bonified. This book came as a result of all of the research he did while creating A Good Place. It’s fantastic on Audible.

Most people think of themselves as “good,” but it’s not always easy to determine what’s “good” or “bad”—especially in a world filled with complicated choices and pitfalls and booby traps and bad advice. Fortunately, many smart philosophers have been pondering this conundrum for millennia and they have guidance for us. With bright wit and deep insight, How to Be Perfect explains concepts like deontology, utilitarianism, existentialism, ubuntu, and more so we can sound cool at parties and become better people.

Schur starts off with easy ethical questions like “Should I punch my friend in the face for no reason?” (No.) and works his way up to the most complex moral issues we all face. Such as: Can I still enjoy great art if it was created by terrible people? How much money should I give to charity?

Moon Knight | on Disney +

Forbes calls it “the worst-reviewed Marvel series on Disney+ to date, but still good”. Which is interesting. Perhaps you’re one of the folks that don’t enjoy everything Marvel or superhero-oriented? I’m not one of those. My family and I absolutely loved the first episode of this new series. I have no history with the comic books, either. Oscar Issac is awesome and I have high hopes for this one.

Moon Knight follows Steven Grant, a mild-mannered gift-shop employee, who becomes plagued with blackouts and memories of another life. Steven discovers he has dissociative identity disorder and shares a body with mercenary Marc Spector. As Steven/Marc's enemies converge upon them, they must navigate their complex identities while thrust into a deadly mystery among the powerful gods of Egypt.

-Your team at Noble Wealth Partners

“There is nothing noble about being superior to your fellow man. True nobility is being superior to your former self.” Ernest Hemingway