Others want your money, your time. Don’t give in.
There are zillions of way to waste time and money, and there are hordes of people trying to convince you to let them into your life. They want your money, they want your attention, they want your time, they want all of you and what you have and what you are.
If you give in to them, you have lost a part of you. The immediate need is for you to resist and avoid them.
We are bombarded with advertising, with messages, with exhortations to spend, to look, to buy, to give in to temptations.
And while it might seem nice at the time, in the long run it is harmful and detrimental to sacrifice our time and money for a short term moment of enjoyment. It is like the initial stages of a romance scam. The beginning seems so nice and we might have dreams in our head. But eventually we crash down to earth with shame and embarrassment.
When I look back and recall some of the ways I wasted time and lots of money, I feel I lost more than I should have. But then, the profligacy of youth knows no immediate limits. It is only with some maturity do we see what our younger selves did.
No Regrets
But I do not spend time berating myself for what I did when younger. I refrain from castigating any youth that I encounter. I just look and watch. I may have opinions, but since when do younger people request and take advice? I certainly shied away from advice givers when I was younger.
It was all to my detriment. I could have learned earlier what would be important to the future me if I had paid attention and asked the right questions of the right people. But like most, all I knew of what was important was what my then current mind was focused on.
Practical Things
Which brings me to money and investing. When younger, all children seemingly think they will grow up to be famous ball players or something of that nature. So very few do actually make it a success. Most abandon their childhood dreams and return to earth.
So it is with the idea of getting “rich.” I would consider that many more people achieve something like financial success than get as far as being fantasy-level “rich.” No child ever thinks “When I grow up I want to be financially successful.” But it can happen anyway.
And yet, financial success is so much more available for those that focus on providing skills or services. The outcomes of the rich and famous that we see on television or YouTube are like childhood fantasies come true for the very few.
Unfortunately, idealization of riches delude people into spending money on useless or frivolous things.
The “Easy” Way
Saving and investing over time is the simpler, easier way. Buying income producing assets is the most likely way to financial comfort.
There are several kinds of assets that produce income. Each has its advantages and its disadvantages.
Rental real estate is a familiar one. One must deal with tenants, maintenance, real estate taxes, etc.
Bonds produce income. But growth is usually minimal.
Dividend stocks produce income and also allow for growth. It is a slow process, but over time there is a compounding effect.
Other kinds of assets include royalties and low maintenance businesses. Royalties usually involve an enormous amount of work up front. Low maintenance businesses are low maintenance until they are not.
But all these kinds of assets require some sort of initial investment to acquire. That is the reason to not squander one’s money.
Have you found your way? Let me know here.
The photograph of the wild pink onion (allium trichocoleim bornm) is from a series “Wild Flowers of Palestine,” produced by “American Colony (Jerusalem) Photo Department,” 1900-1920. Courtesy Library of Congress.
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