Are you excited about some new gadget that you absolutely must have? Do you think it will change your life, the world, or at least make either of them a bit better? Do you believe in your heart of hearts that this new device will win out over all of the other competing items?
If so, before you go and plunk down your hard earned cash to buy the widget, take a moment and ask yourself this: do I believe enough in this thing to invest in the company that makes or sells it?
If you don’t, then that’s a good reason to pause and reconsider your purchase. If you aren’t required to buy this thing for a pressing business or life reason, then what’s driving your desire to buy it? If you really believe in what this thing can do, becoming an investor is a good way of demonstrating it.
Please don’t take this as investing advice to buy or sell any given company. You have to make those decisions and place those bets all on your own. I will tell you that I’ve made far more money off of Apple stock than I have spent on their hardware. And other companies as well.
An investment doesn’t always pay off profitably, but it does keep you focused on the real dollars involved. When you buy some new gadget, it’s easy to forget about what you’re spending in the excitement of a new device. Buying stock in a company before you purchase their products helps to clarify your motivations and desires.
I’m hoping you’ll use this little thought exercise to help you delay or carefully consider technology purchases. And if you’re lucky and persistent, you might even make money!
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Hey Randy,
) Now I need to go back and watch the rest of your videos I have only watched the first one so far. Busy busy busy and I’m not complaining!
I just found a new way to read your site. Just read the whole week in one sitting. These posts all tie together very nicely. (something I hope my 101 posts do since they are written together over the weekend normally). Great information that all ties together but stand alone. Thanks for the food for thought. Tech spending is always on my mind. It’s why I don’t yet own an iPad (even though you have encouraged me to do so
I do go on, don’t I?
Reading them all together works - I wrote them all together. I think series like this might end up as short ebooks and pamphlets.
Thanks,
Randy
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