When people say “invest in experiences” they usually talk about the costs vs. the benefits.
What’s usually missed in this equation is the idea of memory dividends. Each time we remember an experience, that memory is paying us an enjoyment dividend.
Although we don’t enjoy the memory as much as when we first had the experience, we still derive benefit from remembering it.
Personally, I’m thinking of a family vacation to Maui, the time Maru and I slept under the stars in the Sahara Desert, backpacking around the USA on a shoestring budget when I graduated high school, and getting to see the All Blacks play in a World Cup Semi-Final; to name a few!
Furthermore, the earlier we have experiences, and the better we capture them—in journals, photos, or videos—the longer we can enjoy them, and the higher the memory dividend.
I’m now not just thinking of the cost and the immediate gain, but the long term dividend that comes from an experience.
H/T: Bill Perkin’s for this concept from his excellent book ‘Die with Zero’.