The Definition of Value


Value equals price over time. Price is the cost in terms of money and energy required to obtain a particular item or experience. Time in this instance is the amount and quality of use or benefit obtained from a particular expenditure.

Rule #1

Material objects have a definitive value in terms of price and energy, with exceptions made for sentimental value. They cost a certain amount to acquire and maintain and have a fairly definitive lifespan of usefulness.

Rule #2

Experiences, such as education and travel, have an indefinite and fluctuating value, which often appreciates over time, in terms of social benefit, enhanced understanding, and memory.

These two Rules of Value suggest investing in one category more heavily than the other.


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Stay Dry

LL Bean - Stay Dry

LL Bean boots on the water’s edge.

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Lisa Kudrow – Vassar Graduate

Lisa-Kudrow - Vassar grad

Only plays dumb on television.

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What Your Aspirations Reveal About You

Do you long for ‘success’? Or do you strive for accomplishment?

Do you seek the outward appearance of affluence? Or do you endeavor to secure real financial independence?

Do you fantasize about winning the lottery? Or do you imagine opportunities to create wealth?

What you aspire to be is revealing, not least to yourself. I’ve known many a young man whose dream was to have a trophy wife, a spacious home in an upscale neighborhood, and a luxurious high-performance car. Many achieved that dream. Only a few were happy once they did, regardless of their ‘net worth’.

Why? Because they placed disproportionate value in material things, and a few non-material things, namely ‘status’, whatever that is. The truth is that you–without self-improvement, without evolving as a person, without refining your tastes and your judgment, without becoming inner-directed in your decision making process, without doing the hard work of growing up–you will be the same person in that big house with all your toys that you are now. And if you aren’t happy now, you won’t be happy then. You’ll be angry, disillusioned, and bitter because the things you thought would make you happy haven’t. The work you did for money will not be fulfilling, no matter how much money you’ve made.

You have to do the work you love, create all the wealth that you ethically and legally can, but do it for the sake of doing it. Do it to be of service. Do it with a sense of purpose, and then do your best, like many an Old Money Guy or Gal, to remain detached from the fruits of your labor. Dress modestly. Live quietly. Enjoy the rare luxuries of loving what you do for a living and beingĀ free from worry. To hell with what other people think: dance to your own tune.

So take a moment to assess your aspirations, your goals, whom you admire and why.

As the old saying goes…Be careful what you wish for. You just might get it.



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Established 1818


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January 9, 2015 · 10:46 pm

January 7, 2015 – Paris, France

Charlie Hebdo 2 - Paris

Our thoughts and prayers are with the people of Paris during this difficult time.


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Boston Cold

winter wonderland

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January 6, 2015 · 5:31 pm