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	<title>JMF Capstone Wealth ManagementThree Ways to Think About “Is It Worth It?” &#8211; JMF Capstone Wealth Management</title>
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		<title>Three Ways to Think About “Is It Worth It?”</title>
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		<pubDate>Mon, 13 Jun 2016 09:00:26 +0000</pubDate>
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		<description><![CDATA[<p>In life, there are certain nonnegotiables we simply must have. Think food, water and shelter for starters. Nobody will ask, “Is it worth it to eat?” It’s just something you do to stay alive. But deciding what to eat? That’s a different question. Will I eat the bologna or prosciutto? Drink tap water or bottled?...</p>
<p>The post <a rel="nofollow" href="https://www.jmfcapstone.com/2016/06/13/three-ways-to-think-about-is-it-worth-it-2/">Three Ways to Think About “Is It Worth It?”</a> appeared first on <a rel="nofollow" href="https://www.jmfcapstone.com">JMF Capstone Wealth Management</a>.</p>
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				<content:encoded><![CDATA[<p class="western"><img class="alignnone size-medium wp-image-2861" src="http://evolvemypractice.com/wp-content/uploads/2016/06/2016-06-13-2-300x200.jpg" alt="2016-06-13-2" width="300" height="200" /></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif">In life, there are certain nonnegotiables we simply must have. Think food, water and shelter for starters. Nobody will ask, “Is it worth it to eat?” It’s just something you do to stay alive.</span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">But deciding what to eat? That’s a different question.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Will I eat the bologna or prosciutto? Drink tap water or bottled? And anything discretionary — anything that has even the slightest element of choice in it — invariably deals with a question we find ourselves asking all the time.</span></span></span></span></p>
<p class="western">“<span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Is it worth it?”</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">I recently talked about this question with Adam Ketcheson. He is the vice president for marketing at<a href="http://www.arcteryx.com/About-Arcteryx.aspx?language=EN&amp;version=meter+at+0&amp;module=meter-Links&amp;pgtype=article&amp;contentId=&amp;mediaId=&amp;referrer=&amp;priority=true&amp;action=click&amp;contentCollection=meter-links-click">Arc’teryx</a>, a manufacturer of very high-quality equipment for skiing, backpacking, climbing and hiking. The company’s gear is internationally renowned for its performance, durability, design and craftsmanship.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Arc’teryx products also tend to be more expensive than rival equipment, often by a significant margin.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Recently, Mr. Ketcheson was heli-skiing in British Columbia with a group of executives. When they learned that he worked at Arc’teryx, one turned to him and said, “Man, I love your gear, but is it really better than all the other brands?”</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">The answer was: “Yes. Of course. One hundred percent yes.”</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">But the next question his fellow skier asked was the one we’re talking about today: “O.K., maybe it’s better. But is it worth it?”</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">This is a question Mr. Ketcheson gets a lot about Arc’teryx’s products, and his answer is always the same. “I don’t know,” he says. “The question is, is it worth it to you?”</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Alas, there is no objective answer to that question. Mr. Ketcheson can say an Arc’teryx rain shell is objectively better because it outperforms other shells in testing. But whether it is worth it to you has no definitive answer. It’s a matter of opinion.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">This question is one that we often want someone else to answer for us, but in the end, we have to answer it for ourselves. There is no right or wrong answer, just one that does or does not work for you personally.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">That said, simply because no one can answer the question for you doesn’t mean that there are not clever ways to think about it. In particular, I’ve noticed three functional relationships that seem to help in identifying whether something is worth it or not: utility, enjoyment and cost.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Utility</span></span><span style="font-family: Arial,serif"><span style="font-size: small"> Last year, <a href="http://www.nytimes.com/2015/12/22/your-money/the-financial-benefits-of-buying-what-you-love.html?_r=0&amp;version=meter+at+0&amp;module=meter-Links&amp;pgtype=article&amp;contentId=&amp;mediaId=&amp;referrer=&amp;priority=true&amp;action=click&amp;contentCollection=meter-links-click">I wrote about a $5,000 road bike</a> that I bought. The purchase seemed absolutely crazy at the time, but I did a little mental math and realized that if the bike lasted even twice as long as some comparable models, it would be worth buying. In fact, it has lasted far more than twice as long, and I’ve never looked back. So it was worth it because of how much use I got out of it.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Enjoyment</span></span><span style="font-family: Arial,serif"><span style="font-size: small"> If you do not enjoy something, it’s not going to be worth it. If the choice is between a cheap can of sardines or some wild-caught Alaskan salmon, regardless of the price, if you don’t eat it, neither one was worth it. If you happen to be partial to lox, you would most likely find the salmon to be completely worth it. The sardines, on the other hand, may find their way to the back of some cupboard and never be used. They may have been less expensive, but if you don’t enjoy them, they won’t be worth it.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Cost</span></span><span style="font-family: Arial,serif"><span style="font-size: small"> It’s not always the most expensive stuff that’s worth it (because of how, or how much, you use or enjoy it). It could just be the stuff that you have found incredibly valuable.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">For example, I have this <a href="https://www.lehmans.com/p-1026-ice-cream-spade.aspx?show=all&amp;version=meter+at+0&amp;module=meter-Links&amp;pgtype=article&amp;contentId=&amp;mediaId=&amp;referrer=&amp;priority=true&amp;action=click&amp;contentCollection=meter-links-click">ice cream scooper</a> that I absolutely love. It cost me under $10, I’ve had it for years, and every time I take it out I get this big smile on my face because it cost me so little. Sure, I enjoy it and use it, but what makes it memorable to me is that it feels like a steal.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Things like these are the secret little gems of the “worth it” world — the things that cost you almost nothing but give you a tremendous amount of utility, or enjoyment.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">If you get a ton of use out of something, you enjoy it every time you use it and it costs a relatively small amount, it’s going to be “worth it.” That’s a no-brainer. That’s the ice cream scooper.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">But many decisions are not so obvious, particularly those in which the cost is high. And that’s when these three functional relationships can help.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">In the end, however, your answer is the only one that will count. And the next time you are about to ask someone else, “Is it worth it?” don’t.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small">Instead, ask yourself.</span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small"><i>This commentary originally appeared May 9 on <a href="http://www.nytimes.com/2016/05/10/your-money/three-ways-to-think-about-is-it-worth-it.html?ref=topics&amp;_r=1">HuffingtonPost.com</a></i></span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small"><i>By clicking on any of the links above, you acknowledge that they are solely for your convenience, and do not necessarily imply any affiliations, sponsorships, endorsements or representations whatsoever by us regarding third-party Web sites. We are not responsible for the content, availability or privacy policies of these sites, and shall not be responsible or liable for any information, opinions, advice, products or services available on or through them.</i></span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small"><i>The opinions expressed by featured authors are their own and may not accurately reflect those of the BAM ALLIANCE. This article is for general information only and is not intended to serve as specific financial, accounting or tax advice.</i></span></span></span></span></p>
<p class="western"><span style="font-family: Calibri,serif"><span style="font-size: small"><span style="font-family: Arial,serif"><span style="font-size: small"><i>© 2016, The BAM ALLIANCE</i></span></span></span></span></p>
<p>The post <a rel="nofollow" href="https://www.jmfcapstone.com/2016/06/13/three-ways-to-think-about-is-it-worth-it-2/">Three Ways to Think About “Is It Worth It?”</a> appeared first on <a rel="nofollow" href="https://www.jmfcapstone.com">JMF Capstone Wealth Management</a>.</p>
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