{"id":56142,"date":"2025-04-28T16:52:46","date_gmt":"2025-04-28T16:52:46","guid":{"rendered":"https:\/\/prosfunds.com\/?p=56142"},"modified":"2025-04-28T16:52:47","modified_gmt":"2025-04-28T16:52:47","slug":"a-method-for-maximizing-memories-with-money","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=56142","title":{"rendered":"A Method For Maximizing Memories With Money"},"content":{"rendered":"
\n

Sahil Bloom recently shared a jarring stat: \u201cBy the time your child turns 18, you’ve spent ~95% of the time you will ever spend with them in your lifetime,\u201d based on research from the American Time Use Survey done by Our World in Data.<\/p>\n

At first glance, many parents feel a sting of, \u201cGeez, am I being [or have I been] a poor steward of the limited time I\u2019ve been given to spend time with my kids!?\u201d But I don\u2019t think this is a revelation rooted in guilt.<\/p>\n

Furthermore, as someone with two older kids (21 and 19) and one much younger (17 months), I can tell you that some of the most priceless moments I\u2019ve spent with the older kids occurred after<\/em> they were 18.<\/p>\n

And perhaps that\u2019s the point. This statistic is simply a reminder to heighten our awareness, to better appreciate those younger moments that often feel more like monotony or even drudgery\u2014and then to do a better job crafting experiences that will maximize those valuable memories that we hope will mark our relationships with friends and family at any age<\/em>.<\/p>\n

And by the way, spending money on experiences is the way to get the most bang for our buck. Or, as Kumar, Killingsworth, and Gilovich put it in their 2020 study, “People derive more satisfaction from experiential purchases (e.g., travel, entertainment, outdoor activities, meals out) than material purchases (e.g., clothing, jewelry, furniture, gadgets), both in prospect and retrospect.”<\/p>\n

So, how can we maximize these experiences\u2014these memories we\u2019re creating\u2014and increase the rate of return on the money we invested? Perhaps from an unlikely place. I recommend applying an evidence-based approach to relationship management that I learned from author, consultant, and former actuary Mo Bunnell:<\/p>\n

1. Listen & Learn<\/h2>\n

One of the best pieces of parenting advice I ever got was that, to optimize the lessons I hope to instill in my children, I need to give up on the proactive<\/em> lecture [sigh] and instead be ready to deliver the important (and hopefully concise) insight reactively<\/em>, at the moment that the kids express their curiosity.<\/p>\n

While I\u2019ve not always followed this excellent advice, it has borne much fruit when I have\u2014 especially on the big stuff. With stuff like faith, family, work, money, education, sex, drinking, drugs, and rock-and-roll, it\u2019s been more natural to address these matters when the kids make a comment or ask a question. And trust me, parents, if we have ears to hear, they will signal their curiosity, and we will learn from our kids.<\/p>\n

This works no differently in crafting the best experiences of any size or scope, and with anyone, but especially our family members. If and when we become students of those we love, they will show us what interests them.<\/p>\n

2. Create Curiosity<\/h2>\n

Then, we have an opportunity to pour fuel on the fire of that nascent curiosity. If your kids show interest in trains, why not ask them on a Saturday morning if they would be interested in going to a nearby train station? If they show interest in plants or flowers, ask them if they might like to plant a seedling or build a raised-bed garden with you. They show interest in music, ask them if they\u2019d like to go to a concert.<\/p>\n

Now, I realize that we can\u2019t make every shred of curiosity into an extravagant occasion\u2014and nor should we. Money is great memory fuel, but while most experiences cost something, they need not be expensive to captivate our attention and leave a meaningful mark.<\/p>\n

3. Build Together<\/h2>\n

And with kids (of any age), we may need to redirect their curiosity into a more reasonable (or less costly) direction\u2014but without putting a wet blanket on their inquisitiveness.<\/p>\n

\u201cWell, going to the moon may not be in the cards, but what about a trip to the planetarium?\u201d<\/p>\n

\u201cWhat\u2019s a planetarium?\u201d<\/p>\n

\u201cOoh, it\u2019s a special place where\u2026\u201d<\/p>\n

One of the keys to memory maximization is giving our loved ones a chance to have some agency in the experience we\u2019re planning. You might love live music, and you may have good reason to introduce your kids to music you love\u2014but what about asking them who they<\/em> would like to see in concert?<\/p>\n

Maybe you even create a rhythm of going back-and-forth between who chooses the next musical act you\u2019ll see. This is an approach that I have directly benefited from, as I\u2019ve now had unforgettable experiences seeing U2, Kendrick Lamar (twice), Mumford & Sons (twice), JID, My Morning Jacket, J. Cole, Tame Impala, and many smaller acts, all with my young adult kids\u2014and you can guess which ones were their ideas. (You might be surprised. \ud83d\ude0a)<\/p>\n

4. Build Up and Look Back<\/h2>\n

Here, we divert from Mo Bunnell\u2019s method and back to the wisdom gained from the above-referenced study: \u201cPeople derive more satisfaction from experiential purchases \u2026 than material purchases \u2026 both in prospect and retrospect<\/em>.” (Italics are mine.)<\/p>\n

You know this to be true, right? One of the key factors adding to our most memorable experiences is anticipating that experience and rehashing thereafter.<\/p>\n

Before all those concerts, for example, we made up playlists enshrining our favorite songs that we would listen to weeks in advance and on the way to the show. Then afterward, we\u2019d bounce back-and-forth discussing our favorite moments of each show\u2014and creating a sharable playlist from the night\u2019s setlist.<\/p>\n

Now, years beyond any of those events, every time one of those songs comes on when we\u2019re all together (or apart), we\u2019re immediately taken back to the sights and sounds of these indelible memories.<\/p>\n

The total value derived from those memories has long ago exceeded any investment\u2014and that is my hope for you.<\/p>\n

So, what memory can you begin planning to maximize this week? What information have your loved ones already shared that you can use to spark their curiosity? What experience can you build together, anticipate, and remember forever?<\/p>\n

P.S. I had the opportunity to talk to Sahil Bloom recently about his new book, \u201cThe 5 Types of Wealth,” which was the inspiration for this post. You can click <\/em>HERE <\/em>to enjoy that conversation.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sahil Bloom recently shared a jarring stat: \u201cBy the time your child turns 18, you’ve spent ~95% of the time you will ever spend with them in your lifetime,\u201d based on research from the American Time Use Survey done by Our World in Data. At first glance, many parents feel a sting of, \u201cGeez, am […]<\/p>\n","protected":false},"author":1,"featured_media":56143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-56142","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance"},"yoast_head":"\nA Method For Maximizing Memories With Money | Prosfunds<\/title>\n<meta name=\"description\" content=\"Sahil Bloom recently shared a jarring stat: \u201cBy the time your child turns 18, you've spent ~95% of the time you will ever spend with them in your\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=56142\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Method For Maximizing Memories With Money | Prosfunds\" \/>\n<meta property=\"og:description\" content=\"Sahil Bloom recently shared a jarring stat: \u201cBy the time your child turns 18, you've spent ~95% of the time you will ever spend with them in your\" \/>\n<meta property=\"og:url\" content=\"https:\/\/prosfunds.com\/?p=56142\" \/>\n<meta property=\"og:site_name\" content=\"Prosfunds\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-28T16:52:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-28T16:52:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/prosfunds.com\/wp-content\/uploads\/2025\/04\/1745859167_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/prosfunds.com\/?p=56142#article\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/?p=56142\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\"},\"headline\":\"A Method For Maximizing Memories With Money\",\"datePublished\":\"2025-04-28T16:52:46+00:00\",\"dateModified\":\"2025-04-28T16:52:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/prosfunds.com\/?p=56142\"},\"wordCount\":1047,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/prosfunds.com\/?p=56142#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/prosfunds.com\/?p=56142\",\"url\":\"https:\/\/prosfunds.com\/?p=56142\",\"name\":\"A Method For Maximizing Memories With Money | Prosfunds\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/#website\"},\"datePublished\":\"2025-04-28T16:52:46+00:00\",\"dateModified\":\"2025-04-28T16:52:47+00:00\",\"description\":\"Sahil Bloom recently shared a jarring stat: \u201cBy the time your child turns 18, you've spent ~95% of the time you will ever spend with them in your\",\"breadcrumb\":{\"@id\":\"https:\/\/prosfunds.com\/?p=56142#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/prosfunds.com\/?p=56142\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/prosfunds.com\/?p=56142#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/prosfunds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"A Method For Maximizing Memories With Money\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/prosfunds.com\/#website\",\"url\":\"https:\/\/prosfunds.com\/\",\"name\":\"Funding Factories\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/prosfunds.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/prosfunds.com\/#organization\",\"name\":\"Funding Factories\",\"url\":\"https:\/\/prosfunds.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"width\":780,\"height\":140,\"caption\":\"Funding Factories\"},\"image\":{\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/prosfunds.com\"],\"url\":\"https:\/\/prosfunds.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"A Method For Maximizing Memories With Money | Prosfunds","description":"Sahil Bloom recently shared a jarring stat: \u201cBy the time your child turns 18, you've spent ~95% of the time you will ever spend with them in your","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/prosfunds.com\/?p=56142","og_locale":"en_US","og_type":"article","og_title":"A Method For Maximizing Memories With Money | Prosfunds","og_description":"Sahil Bloom recently shared a jarring stat: \u201cBy the time your child turns 18, you've spent ~95% of the time you will ever spend with them in your","og_url":"https:\/\/prosfunds.com\/?p=56142","og_site_name":"Prosfunds","article_published_time":"2025-04-28T16:52:46+00:00","article_modified_time":"2025-04-28T16:52:47+00:00","og_image":[{"width":1500,"height":900,"url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2025\/04\/1745859167_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/prosfunds.com\/?p=56142#article","isPartOf":{"@id":"https:\/\/prosfunds.com\/?p=56142"},"author":{"name":"News Room","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6"},"headline":"A Method For Maximizing Memories With Money","datePublished":"2025-04-28T16:52:46+00:00","dateModified":"2025-04-28T16:52:47+00:00","mainEntityOfPage":{"@id":"https:\/\/prosfunds.com\/?p=56142"},"wordCount":1047,"commentCount":0,"publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"articleSection":["Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/prosfunds.com\/?p=56142#respond"]}]},{"@type":"WebPage","@id":"https:\/\/prosfunds.com\/?p=56142","url":"https:\/\/prosfunds.com\/?p=56142","name":"A Method For Maximizing Memories With Money | Prosfunds","isPartOf":{"@id":"https:\/\/prosfunds.com\/#website"},"datePublished":"2025-04-28T16:52:46+00:00","dateModified":"2025-04-28T16:52:47+00:00","description":"Sahil Bloom recently shared a jarring stat: \u201cBy the time your child turns 18, you've spent ~95% of the time you will ever spend with them in your","breadcrumb":{"@id":"https:\/\/prosfunds.com\/?p=56142#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/prosfunds.com\/?p=56142"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/prosfunds.com\/?p=56142#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/prosfunds.com\/"},{"@type":"ListItem","position":2,"name":"A Method For Maximizing Memories With Money"}]},{"@type":"WebSite","@id":"https:\/\/prosfunds.com\/#website","url":"https:\/\/prosfunds.com\/","name":"Funding Factories","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/prosfunds.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/prosfunds.com\/#organization","name":"Funding Factories","url":"https:\/\/prosfunds.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","width":780,"height":140,"caption":"Funding Factories"},"image":{"@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","caption":"News Room"},"sameAs":["https:\/\/prosfunds.com"],"url":"https:\/\/prosfunds.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/56142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56142"}],"version-history":[{"count":1,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/56142\/revisions"}],"predecessor-version":[{"id":56144,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/56142\/revisions\/56144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/media\/56143"}],"wp:attachment":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}