Are You Burning or Building?

You’re only going to get so much money in your lifetime. Do you want to spend it on short-term enjoyment or use it to construct the life you want?

In his memoir, Aerosmith front man Steven Tyler estimated that he spent about $20 million on cocaine during the 1970s and 1980s. He later revised his estimate down to only $5 or 6 million. Either way, I don’t doubt he had a good time. But I’d wager that with a different purchasing strategy, those dollars could have bought a lot more good times than he ended up with.