Those like yours truly, who live on “the internets” and obviously understand the value of digital assets, should not dare look down upon the physical world. And let’s face it, the perspective of the average internet person (from IT employees to online entrepreneurs and investors) is oftentimes delusionally biased toward the online dimension.
A false sense of superiority takes over.
And an equally false dichotomy emerges, with you believing you have to pick a side: internet enthusiast who hates tangible assets or blue collar person who believes digital assets are scams.
If you don’t have your hands in both jars, you’re doing it wrong.
Most of those who will be reading these words are internet people, so I will focus on that angle. And say that you most likely need a reality check so as to understand that your worldview needs to be adjusted.
For example, we are moving to a farm so as to try to embrace a healthier lifestyle. Hobby-level stuff, don’t assume I’m going to become a rancher, but I digress. This particular experience has taught me that no matter how smart I think I am, there are so many things I just cannot do alone… it’s physically impossible.
For example, if I were to attempt to do ground prep work myself, I’d need one month of joint-killing activity to do what a guy with a huge machine can achieve in an afternoon. A humbling experience. The same way, I’d be risking my life if I tried to build the wooden roof structure for a barn myself, just doesn’t make any sense.
And even when it comes to activities I could do myself, it would be extremely ineffective for me to do so when a professional can do it faster and better. I’m better off doing what I do best and letting said professionals do their job, with the only exception being represented to activities I do as a hobby, where I don’t care about efficiency or economics (ha!).
Needless to say, a world without heavy machinery operators would be quite unpleasant to live in. As would one without construction crews.
Plenty of room for everyone.
Of course, the same principle is valid when it comes to the white collar world, from economists who help put together and implement policy that will affect millions to programmers who code apps which make our lives easier.
False dichotomies 101.
And in the spirit of precisely the realization that we need each other so as to have good lives, why not re-think your attitude toward tangible assets as well?
Tangible assets which tend to be less exciting.
Less potentially profitable.
And in some cases (real estate, for example) with problematic barriers to entry.
Nonetheless, in “doses” that vary from person to person, there is plenty of room for them in our lives. With the good news being that even if you are the worst investor in the world, it’s hard to believe you will do poorly by accumulating quality tangible assets here and there, assets you do not want to flip/trade (visit my NeverTrade.org website to find out why trading = gambling, ruins lives and you should never do it) but rather hang on to for years and years.
Maybe you buy a gold coin and visit friends instead of going on an expensive vacation… with gold plummeting 50% one week after your purchase.
So what?
As the years go by, chances are that not only will the price recover, it will do so in a way that rewards you for having patience.
And even if it doesn’t recover (never ever, which is highly unlikely), you still saved and have those remaining 50%, in stark contrast to a fancy vacation that may very well also leave you more frustrated/unfulfilled than simply spending time with friends or family members.
Accumulate quality assets over long periods of time.
Both digital and tangible.
That’s it, you won 80% of everything there is to win by simply doing that. I have a PhD in economics and a bunch of experience across different yet relevant fields, so of course I personally want more than the aforementioned 80%. But if you are not a professional, I can pretty much promise you will do better by following that one-liner I have shared (accumulate quality assets over long periods of time) than those who waste money on expensive courses, mastermind groups and so on.
Accumulate quality assets over long periods of time.
Accumulate quality assets over long periods of time.
Accumulate quality assets over long periods of time.
Sorry for being annoying, but you really do have to accumulate quality assets over long periods of time. With tangible assets included. Fair enough?
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