I will never be rich.
Oh, I realize that in certain parts of the world I would already be considered wealthy. I have a house that is 2580 square feet and not in any danger of falling down. I have all the amenities, and a quite a few toys. I could go out and buy just about anything I needed without too much worry or planning.
But I still owe some money on the house and one of the cars. We have to budget a little to fit in a weekend at The Lake Quinault Lodge or somewhere similar.
But I will never be independently wealthy, mainly because I am too conservative with my money to gamble.
I have been going around telling everyone that NOW was the time to buy Boeing stock, because it was in the toilet, but wouldn't remain there. On Monday the stock price was hanging around $42 a share. But with the IAM and Boeing locked in a room with the Federal labor negotiator, you could pretty safely predict a break in the deadlock, and a subsequent upswing in the stock price. I could have borrowed a bunch of money and plunked it down on stock and felt fairly comfortable that I could make some short term money.
Since then they have announced a tentative agreement in the labor difficulties, and the stock has jumped up about 17%. So I could have tapped my home equity line of credit for a hundred grand, bought stock, turned around and sold the stock, paid off the line of credit and still hauled in about 12 grand in three days.
I am just too damn conservative for my own good.
3 comments:
Me too....but I'm SO damn afraid of making the wrong move, you know??? ACK!!!
PQ: I just am not a gambler. Considering how hard I worked for how long, I just won't take a chance with what I have.
My mind always follows this logic with: But if you'd done it that way, it would have tanked further. Call me pessimistic, but I like to keep what money I do have.
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