There is a lesson that I have leaned after living over sixty years now. It sounds simple but just because it sounds simple doesn’t mean that it is easy to learn. Are you ready? Here it is. “Easy come, easy go”.
If something seems too good to be true, it probably means you should step back and take another look before taking action. There are several similar thoughts or idioms, like, “don’t count your chickens before they are hatched” or speaking of chickens, “don’t put all of your eggs in one basket.” And my very favorite and perhaps now considered sexist but it probably is still true in more ways than one… “Why buy the cow when you can get the milk for free.” The point is, think before you act and try not to do anything too foolish too fast, unless you can afford to lose.
What brought this to mind you may well ask? One of my sons is fascinated with the new Crypto phenomenon. Bitcoin, Ethereum, and Dogecoin.
Several months ago, he started reading about the Bitcoin. Supposedly there was a man who didn’t have any money in his pocket and thinking that his few Bitcoins were really worth nothing he used his Bitcoins to pay for a Pizza. Those Bitcoins that paid for that pizza would now be worth about $117,000,000 today.
Did I fall for this sales pitch from my son? In my defense he talked about this thing called Crypto, constantly. I have to admit it sounded like an interesting idea. Did I invest a lot of money on one or more of these things? No, I did not. I am not a gambler. I am not a wishful thinker and I do not have money to burn. Having said all of that did I buy a tiny amount of each of these stupid things? Yes, I did. So did my son. However, when I say a tiny amount, I really mean a tiny amount. Have you ever bought a lotto ticket? See, what I mean? Somewhere in the back of your mind you say to yourself. Maybe.
Was it stupid? Also, maybe. One more thing in my defense. I stopped my nightly wine. I have saved some money along with my liver. (I still drink wine just not every night.) I did pay all of my monthly bills before taking my tiny bit of money to invest in what might be a very dumb idea.
One thing to remember sometimes it is good to put $3.00 on a lotto ticket, sometimes it is okay to put $100 on a Bitcoin. Sometimes you have to keep a dream alive. Take that chance. Make that move. Go on that blind date. Invest in yourself and invest in a dream but then you have to also realize that if it doesn’t work out you may lose. Usually there isn’t a get rich quick scheme that works out well, just ask the people that invested with old Bernie Madoff.
My mother was a very smart investor. She was careful with her money and not a big spender. She lived within her means and when she invested, she diversified and she chose strong secure stocks with dividends that she reinvested. Every once in a while, she took a chance.
What a good lesson. What a good way to live your life. Maybe I have finally learned that lesson. If you can’t afford to lose whatever IT, is that you can’t afford to lose, don’t do it, take a deep breath, look carefully, look again. If it doesn’t matter and you are able to say, “easy come, easy go.” Then do it. If not, don’t.
Personally, I am not going to “count my chickens before they are hatched.” I am not taking a loan out for that Rolls Royce even though I made $50.00 on my investment.
Until Next Time ….