Over the years, I’ve sat across the table from business owners, professionals, and families chasing success. The intellectual challenge of building wealth can be compelling, and the rewards can be significant.
But the hedonic treadmill is always running.
John Bogle, founder of Vanguard, understood this better than most. He saw how easy it is to get trapped in the pursuit of more, without ever asking, “What’s enough?”
Bogle tells a story about Joseph Heller and Kurt Vonnegut at a billionaire friend’s party. as the story goes, the billionaire had made more money in one day than Heller’s blockbuster book, Catch-22 had earned in a lifetime.
Heller’s reply? “Yes, but I have something he will never have… enough.”
That line sticks with me. It’s not about the number in your bank account. It’s about knowing when you have what you need.
In wealth management, I see the same traps Bogle warned about. Too much focus on returns, not enough on purpose. Too much complexity, not enough simplicity. Bogle built Vanguard on a simple idea: serve the client, keep costs low, and invest for the long term. He didn’t chase fads. He didn’t believe in speculation. He believed in owning good businesses, holding them, and letting compounding do the work.
Bogle also argued that too many in our industry count numbers, not relationships. He was right. Trust is the real currency. The best advisers I know put clients first, always.
They build real partnerships. They know that a spreadsheet can’t measure peace of mind.
Enough isn’t just about money. It’s about autonomy, connection, and competence. Happiness comes from having control over your life, meaningful relationships, and the chance to do good work.
In the words of Socrates, virtue leads to wealth, not the other way around.
So, what does “enough” mean in practice? For me, it’s about helping clients define their own finish line. It’s about building a plan that gives them freedom—freedom from worry, freedom to spend time how they want, freedom to make a difference. It’s about cutting through the noise and focusing on what matters.
Bogle’s message is clear. More isn’t always better. Enough is enough. The challenge is having the courage to stop chasing.
If you need guidance understanding when enough is enough, contact the team at Capital Partners.
