Recently, I sent out a number of distributions from various trusts. As trustee, I have discretion to do such things. I wanted to get the checks out before Christmas. This exercise gave me an inkling of how politicians must feel handing out other people’s money. Even though I’m much more of a Mr. Potter than a George Bailey, I still for a brief moment felt as though I was a generous soul. It’s not my money. I didn’t earn it, but during those few seconds, I felt I was being a warm and generous benefactor to all humanity. It is easy to understand how politicians get dopamine hits from giving away other people’s money. The difference of course is I’m a fiduciary, and must strictly adhere to fiduciary rules, most importantly to preserve wealth and not to waste money.
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