Had my first car accident a couple months ago after 19 years of driving.
How did this happen?
I recall parking in Santana Row was free.
While pulling into a parking garage, I saw it was not free. It was $2/hr.
My knee-jerk reaction was revulsion.
And I instinctively started backing up my car.
I felt a little bump; as if my car hit a curb. But I actually hit another car.
I wish I could even say:
To save $2, I gotta pay extra insurance premium going forward now.
But I actually saved nothing. We ended up having free parking anyway because they only charge $2/hr after the first 2 hours.
A miserable life#
Die with Zero is a book that talks about trying to have no money left when you die.
This makes sense because what’s the point of saving up millions while on your deathbed?
Imagine the miser who misses out on life because they wanted to save at every corner:
- No international trips
- No adventurous outings
- No splurgy birthdays
- Cheap wedding
- No excursion with friends and family
- Arguing with friends about the closest dollar when splitting the bill
- Hours spent nickel and diming minutia every month
It’s easy to see being cheap as a philosophy is a fool’s errand.
Missed life experiences is far more expensive than what you could possibly save.
Can’t ever capitalize on opportunities#
Imagine if I was in a cheap mindset for this trade. Instead of shorting 71K, I shorted $5K instead.
For a 100% conviction play that comes up maybe once a year, if I’m lucky?
A cheap mindset would have cost me around $66K in profits in this case.
Very expensive mistake.
It’d be like having the nuts in poker and only betting $5 on the river.
The fuck?
If you approach good opportunities with a cheap mindset, have fun being broke.