Karma. Maybe if I can't respect a little bit, I'll never be worth a lot. Maybe it's a slippery slope? Today, it's turn my nose up at a penny, tomorrow a dime, next week a $20? In a few years, I would let $100,000 slip through my fingers?Abe wrote: ↑Thu Sep 28, 2017 11:22 amThis is the way I look at it. You have to bend over 100 times to make a dollar. Having said that, I have to admit I still pick up pennies. Can't tell you why. It's like a little voice in my head saying, "you better pick that penny up".randomguy wrote: ↑Thu Sep 28, 2017 11:15 am
I find it hard to believe it takes anyone 20s to pick up a penny. They can either do it in 10s or not at all:)
But lets run the math .01/20s = 3 cents/min or 1.80 hour. Wouldn't you be better off working an hour at 8 bucks/hr instead of picking up that penny? Something about being pennywise and pound foolish:) Not to mention it is really rude. Think of how exciting a 5 year old will be to see the penny and how much joy are you are removing from the world by your greed:)
I probably LBYM for two reasons:
#1 My father. The first time I can recall wanting to spend my grass cutting money was on a $35 Daisy BB gun. My father questioned me closely about it, "Are you sure that's what you want to spend your money on? You sure there isn't something else you would want to save up for? If you spend it on that, it won't be there for something else you want later. . . ." I still have that old gun and occasionally shoot an aluminum can in the back yard as a memorial to a valuable lesson on opportunity cost.
#2 I'm basically lazy. I work because I have to. If I had enough to safely retire today, I'd probably be gone today. Not that I don't like my job, because most of the time I do, but there are some other things I would really prefer to be doing. So each one of those hours of employment is precious. I would really like to keep them down to a reasonable minimum. That makes spending on frivolous junk a little challenging. I see old guys shuffling down the halls at work and think, how sad, they're 70, 80, 90 years old, and this is all they have to do? There isn't anything more important in their life than this? That is my dread! Off to another project meeting, shuffle, shuffle, shuffle! That's only slightly better than needing to, but no longer being able to.
My theory is that people don't save and invest for the future because humans have almost limitless adaptability. We can get used to almost anything that doesn't kill us. While people may like the idea of getting more out of life, many many people are satisfied with what they have. Why sacrifice for something better when this is good enough? My wife always tries to get young people at her store to go to the local JC to learn a skill; get a better job; try for something better than "just making it by". They all professed interest, but none of them ever do. $11 an hour is good enough. . . .