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being cautious and taking risks, CT, donations and volunteering, Foxwoods Casino, gambling, Mohegan Sun Casino, Mystic, Rhode Island, Stock market, Westerly
“Fools make feasts and wise men eat them.”― Benjamin Franklin
Thank you for the title of this post Rob!(https://forfriendswithoutborders.wordpress.com/2020/12/04/the-book-of-life-holiday-edition/. I was writing this post when he replied to one of my comments on his blog with that saying. It fit perfectly so I borrowed it.
I have mentioned here before that I am very careful with my money and live well below my means. I have no one to fall back on and cannot collect unemployment so having savings is crucial to me.
It affords me the peace of mind when an emergency comes up and it also allows me to be able to help my family. That is the one thing I am the proudest of: the ability to provide my parents a financial worry-free retirement.
Still there are instances where I feel like a fool. Either because I was taken for a fool or because of spending that may be considered foolish.
“Wealth consists not in having great possessions, but in having few wants.”― Epictetus
Donations:
I helped people that later were on luxurious vacations and flaunting expensive purchases. I helped people that didn’t even say thank you. Not that I am doing it for the glory but it feels good when is appreciated and the money goes where it is intended.
More and more I am learning to let go, to help and not look back. Once the money leaves my hand, it is on them and not on me. I am happy to say that to each person that didn’t thank me or that misuses the money there are at least 3 more that are grateful and uses it wisely.
I will not stop helping no matter what. I will take the chance every time.
“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people that they don’t like.”― Will Rogers
Casino:
I am blaming Coronavirus for going to the Casino more often. After being locked in for so long, taking weekend trips to the casino feels like a mini vacation. They give me free rooms, which I more than pay for with the money I leave there, but still is a free room.
File that under entertainment. It is fun. I only take money I can afford to lose. I get to see my friend that lives nearby in Westerly, Rhode Island and I get to spend time in Mystic, CT.
I just try not to think about how many massages I could be getting with all the money I leave there ☹
“A Penny Saved is a Penny Earned” ― Benjamin Franklin
Now I am stepping in an area where I can really be made to feel like a fool:
The Stock Market:
After working in the financial services industry for 25 years and having people assume that stocks is the kind of brokerage my company does, I am finally dipping my toes in the stock market pool.
I have always dismissed it as something I didn’t know enough to play in it, as a playground for the big boys only.
About a month ago a good friend mentioned that I should put some money into a specific cryptocurrency. I opened a Coinbase account and did that. I invested very little. This week that crypto has more than doubled its value.
Excited over that potential windfall and kicking myself for not having invested more, this week I opened a Robinhood account. and invested in stocks in different areas. Seeing the fluctuation and the ups and downs is both scary and enticing.
“Alvin smiled back, and kissed her. “People talk about fools counting chickens before they hatch. That’s nothing. We name them.” ― Orson Scott Card
I remember several years ago listening to one of our brokers when he was buying bitcoin for around $50.00. At that time it was such an unknown thing. I wasn’t even curious about it. This week it increased to over $19,000.00 each. Do the math 😦
I can see that the potential for making money here is huge, but also to lose. Being an adventurous Aries I have to watch myself.
I feel like I arrived late to the party and now I need to make up for it. My very wise friend was quick to note: “Prosperity is always waiting for us”. God bless him for making me realize there is no hurry. The right time is always now.
At this point I feel I am cautiously taking a risk 🙂 That just sounded like the talk of a fool 🙂
I am curious to know your experience. Do you dabble in the stock market? What are your thoughts?
I want to add that I am aware of how blessed I am to have savings at this point. With so many people struggling it is not my intention to flaunt the little I have. I also feel it is okay for me to be proud for how hard I have worked and for the choices I have made.
“While money can’t buy happiness, it certainly lets you choose your own form of misery.”― Groucho Marx
Blessed with a Star on the Forehead 
Do I get royalties from this post? 😉 Thank you for the pub, Ana! Yes, I invest mostly in the traditional markets. I got into Bitcoin at a little over 7,000. Whatever I put into bitcoin, I assume I’ve lost, since it’s so volatile. I hedge my financial investments with real estate, too, although rents aren’t always dependable. I try not to look at the markets each day, because that’ll drive me insane. I think that the markets are good over time as long as we don’t panic in the short term.
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Royalties? Sure! Of the 6 cents that I may get for this post, if enough people read it, I will gladly give you a cut 🙂
You probably made a bunch of money in bitcoin… now the question is, keep it or sell it?
I figure I need to put money in it and forget it exists. Panic is awful anywhere, specially here.
I love real estate but I was not born to deal with tenants. I am way too nice and don’t like having complaints, but it does pain me to think of selling. I don’t regret selling the other one I had but it was not a smart move financially.
Thank you for sharing your experience 🙂
Wishing you a blessed weekend! ♥♥
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I’m keeping it for now. I’m playing with house money. If taxes start to spike with the next administration, I might move that into precious metals.
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It is always fun to play with house money 😁
Keep me informed… I am going to follow your lead.
Blessings! ❤❤
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I like Will Rogers and Groucho Marks quotes the best!
I have no experience with stock markets but my son has started investing in them lately!
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Hi Joy
Those are indeed great.
Some young people are really financially savvy. Good luck to him, I hope he does well!
Wishing you a blessed weekend! ♥♥
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Thanks! He really seems to be which makes me happy! Thanks and same to you!
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That is awesome!! ❤❤
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I’m of the opinion that once you have enough, what need is there for more? I’ve thought about investing my meagre savings in the stock market, but why? I have better and more interesting ways to deal with the small amount of money I have.
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Hi Carolyn,
I guess the question becomes, what is enough?
I would like to have enough that it would allow me to work less and spend more time in Brazil with my parents, and do some other stuff.
I am hoping to build up more my savings with the stock market.
Thank you for sharing your thoughts on the subject.
Blessings! ❤❤
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Thank you,
I feel it is up to us all to look into ourselves and think on what we have and what we truly need.
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Let’s see. I don’t own a cell phone. That probably answers several questions about joining in various ways of getting rich. Or, I might say that I look more at value than quantity when it comes to possession (money being one form of possession). Certainly, one might do more with $19,000 than $50. But, how much energy (distraction) went into accumulating that… and how does one know when to cash out. Starting to sound like gambling on many levels. Guess I emphasize contentment rather than striving. -Oscar
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Hi Oscar,
I thought that my eccentric artist friend Dalton was the only person without a cell phone, now I meet you 🙂
I envy that. I waited as long as I could to get a cell phone, now it would be hard not have one.
To me, at this point, more money means more options and peace of mind.
I agree with you about not wanting to spend the energy accumulating and maintaining stuff. That is why I want to sell my rental property. It makes financial sense to keep it, but I don’t have the energy to deal with tenants and their complaints.
The stock market can be just like gambling to some (me), so one (me) needs to be careful.
At the end of the day we are all seeking contentment, we may just take different routes to it.
Thank you for sharing your thoughts! ♥♥
Blessings to you! ♥♥
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Well thought out. Keep life simple.
Regarding the app Robinhood, Forbes magazine had an article about how it work (and to my mind works one over). It was a few issues ago. Of course I get a paper copy and do not even know how to read it or any other magazine on line. ⛄️
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Thank you Oscar!
Why keep it simple when one can complicate things, right? Just kidding!
I am going to look for that article. Before opening the account with Robinhood I drove myself insane researching among the various brokers, Acorn, Stash, eTrade, TD Ameritrade, etc, etc. They all have pros and cons, I just felt that Robinhood was cheap and safe enough for me at this point. Who know… fingers crossed 🙂
Wishing you a blessed week! ♥♥
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Keep in mind that at the casino, you are playing with mathematical calculations of probability that and Ace will turn up next to give you Black Jack. In the stock market, currency exchanges (including cryptocurrencies), and real estate, you are playing other people’s behavior, anticipating that someone else will be willing to pay you more for stocks, currency, or property than you paid for it.
Personally, I do not have the time nor interest in researching investments. I use mutual funds and pay their managers to do that work for me.
Watch out for the one-arm bandits. 🎲
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Hi Oscar,
Thank you for the warning 🙂 I should know better, but the one-arm bandits get me every time.
I never play the tables. I know my odds are better there, but I like the trill of the slot better. Although it is no thrill unless I am betting the maximum on each game.
Now, with the stock market I can see how enticing it is for someone like me. I regret not having started sooner. With that being said, I already see the need to take a step back and not be involved in it so much.
Wishing you a blessed weekend! ♥♥
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I’ve invested but always found the stock market a scary place to be. Just like diets inevitably lead to obsession about food, investing causes me to think too much about money and question my decisions. Should I have invested more? Should I have sold sooner? Being someone who approaches life by always searching for answers and trying to set things right makes it hard to participate in something where there is no right answer. Even the experts don’t get it right 100% of the time.
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Hi Gail,
That is a great point! Now it seems all I see are articles telling what to stock to invest on. I keep trying to decide what to do going forward. Should I put more money on the ones I already have or do I get different ones? Do I invest all the money now, or do I do it little by little overtime? It can make one go insane.
Perhaps I should just put a certain amount on the most reliable option and forget it. Trying to make sure not to make a mistake it is an impossible.
Thank you for the insight! Blessings to you! ♥♥
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Pingback: A fool and his money are soon parted? – RedDragon CryptoDoubleBitcoin Investment Platform Blog
Money is precious and I am careful with everything. The stockmarket is for longterm in my eyes, I don’t want to risk to much so I do have the odd one going. As it goes up it can go down. So I rather be very careful.
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Hi Ute,
I wrote that in 2020,but for some reason it is showing up now.
Money is indeed a precious commodity. I have worked very hard all my life, so I want to make sure that I invest wise and well. I do have a bit of money in riskier stuff, but not too much.
I want to make sure that once I retire, I remain retired and don’t have to go back to work because of wrong decisions.
Blessings to you!
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What an exceptionally thoughtful, candid, and beautifully balanced reflection this is! 💫
Your post captures something many people feel but rarely articulate so honestly — the complex relationship between money, security, generosity, and self-reflection. You’ve written with such grace, humility, and emotional intelligence that it turns what could have been a financial narrative into a deeply human story.
I love how you’ve interwoven timeless wisdom from Franklin, Epictetus, and Rogers with your own lived experiences. The quotes don’t just decorate the post — they anchor it, giving each section a philosophical rhythm that flows effortlessly from giving to gambling, from saving to investing. 🍃
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Hi Verma,
Thank you so much for this great and thoughtful comment.
I have written that post in 2020, and for some reason it is only showing up now on the timeline.
But the post is as true today as it was in 2020. Well, bitcoin is well more than 19,000.00 thousand now – I should have invested more in then 🙂
Thank you and blessings to you!
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I don’t deal directly in the stock market, but I know that my 401(k) has stock options and I have stock options with the company that I work for. I partake in both of those. I also have Coinbase, which I invested very little and I’ve watched it grow immensely. A lot of people say that crypto is the money of the future, but I am still a little bit skeptical.
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Hi Mia
I wrote that post in 2020, but for some reason is showing up again.
I too try to diversify, so I have a little of money in crypto as well. If it is the future, I want to make sure I am a part of it 🙂
Blessings!
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