Have you ever looked back on money leaving you and realized you were hurt by it? Perhaps you were scammed or lied to about something. Perhaps you spent money recklessly or maybe it was just bad luck. The saying ‘Buyer’s Remorse’ comes to mind. What is buyer’s remorse but regret about money leaving you?
When I was a young man I got a small settlement in a lawsuit of around $9,000.00. I had to decide how I was going to use the money, whether to invest it or to use it for Graduate school. I chose graduate school. I put the money in a money market fund and took it out little by little. It allowed me to work part-time while I went to grad school full-time and it lasted long enough for me to graduate. I don’t regret it and I don’t feel hurt by it being gone. But I do sometimes think what if I had instead invested that money in a relatively new local company where I lived. What would have transpired if I had invested in Apple in 1981? That $9,000.00 would be close to $2,000,000.00 now.
My Parent’s Money
One of the reasons I was conservative and deliberate about what I was going to do with my money is this story. My mother got an inheritance after her mother died of about $30,000.00. My parents used a good chunk of it to by a very nice boat. We had a lot of fun on that boat for a little over two years. I really loved living and working on the boat for my high school summers. It seemed worth it. But in the end, it blew up and I was burned on 70% of my body. At that exact same time the oil embargo hit the US and the aviation industry, which my father was employed in, went in the tank. My mother meanwhile had a brain hemorrhage and spent almost 9 months in the hospital and in recovery. The result was our family having a big change in financial fortunes. We didn’t go into dire poverty by any means, but it did make for a drastic change in things. My college bills couldn’t be paid and I had to leave school. I moved to California with some high school buddies and made my way on my own from there. The boat was nice but the loss of that money really did make a difference later. I look back and am amazed at how much stress my dad must have been under during that time.
Ah, 20/20 hindsight, right? It’s hard to say what would have happened. Maybe I would have invested in Acme Computer instead of Apple Computer and lost my shirt. My parents may have done the same with their money. All one can really do is learn from others and from experience and try to make the best decisions about where your money goes. It isn’t easy but one can become educated about how to handle money wisely. It’s worth it.
“That money talks, I’ll not deny. I heard it once, it said ‘Goodbye’.” – Richard Armour, 1906-1989, American Poet and Author
Drawing and commentary © Marty Coleman 2017