Come here, kids, and sit around my knees. Let ole’ grammy Abigail tell you a story. It’s a story of frustration and hindsight, and a lesson to you all. Let’s begin at the beginning.
I came to financial awareness in the early 1990’s, and enthusiastically cheered the bull market on, never-mind I barely knew what a stock was. I wished I could be in on the action, but I had no money. I missed out on the big bull run-up.
Then I said to myself, surely these internet companies can’t be worth that much! This is ridiculous! I bet there could be some money made from shorting them (I became more sophisticated as time passed.) But, I didn’t have any money. Any. I missed my first huge selling opportunity.
So, I moseyed on through life. One day I noticed that gold was trading at about $350 per ounce. Wow, it looked pretty low, and there was a coin shop across the parking lot. I could’ve gotten a gold coin without too much hassle, and hung on to it to see if it went up. Well, I could if I had $350 dollars to my name, which I didn’t. Now gold is over $1550 per ounce.
Time passed, and there was a tremendous housing panic and recession. The stock market took a nose dive. I thought, “Boy, this is the time to buy!” Do you notice a pattern? I bet you can’t guess that I was unemployed at the time and couldn’t afford to invest. I missed the buying opportunity of the decade.
Late, the price of houses and real estate became incredibly reasonable. I would’ve loved to buy a house and rent out a room. But, guess what? I had some money, but not enough to carry a house. Again, another wonderful buying opportunity missed.
So, what’s the moral of the story, deary-dears? The moral is that we live in a capitalistic society, which means you need capital if you want to be successful by our society’s terms. Make sure you have capital that’s ready to go, because it’s likely that there will be other amazing opportunities in the future, and you’ll want to take advantage of them.
Now, go play outside, and keep off my lawn.