How a $320 coat at age 23 changed Barbara Corcoran's life

Real estate mogul Barbara Corcoran reveals that buying a $320 coat at age 23 was the best investment she ever made, as it gave her the confidence she needed to succeed. The coat, which would cost around $2,235 today, made her feel like the successful entrepreneur she aspired to be. Corcoran's experience highlights the psychological influence that clothing can have on a person's self-esteem, known as "enclothed cognition." Wearing the coat regularly for four years, she worked tirelessly to achieve the success she already appeared to have. Corcoran's story serves as a reminder to consider the value and frequency of use before making expensive clothing purchases.