“Like it was yesterday,” you said in my conversation with you.
We were talking about your portfolio and markets and transitioned to Roxbury, Massachusetts of all places, and the Mission Hill neighborhood. I was explaining how, on Tuesday following Labor Day Weekend, Becky and I helped our daughter move to her new apartment where it seems everyone at Northeastern University lives.
I said it’s outrageous what they’re getting for rent in these triple-deckers.
“Funny, you should mention that,” you said. “I lived around the corner when I was at Northeastern a long time ago,” you laughed.
I told him what the rental rates are (triple what he paid based on average wages then and now). Do you remember what you paid for your first apartment?
When thinking about money today it’s no surprise how wrong the so-called experts have been about inflation. “It’s transitory,” they said. “It’s because of Ukraine,” they rail. “It’s Putin’s fault.” And yet all they need to do is look at this chart, and the truth speaks for itself.
The truth of the matter is this: When a dollar ain’t worth a dime, you can’t afford to listen to the ruling class.
But on a global scale, the US dollar is the best house in a bad neighborhood. Go figure. That’s how bad it is out there in the big bad world.
Remember this: Your number one investment, what got you out of bed in the morning working all hours of the day, was a linear event. But your steady growth turned you into a compound machine in your line of expertise.
But your portfolio isn’t linear. Your portfolio is perhaps your best chance yet for geometric growth. It’s called compounding, where you put growth and time to work for you.
Action Line: Working day to day feels like a linear A to B progression. Investing, however, if you harness time and money, can be geometric—if you allow steady growth to be your friend. Yes, you can go from C to B in rough markets, but you can also go, with time, from C to Z. It’s just a matter of how patient you can be. And if you think 50 years is a long time, remember it literally feels like yesterday. Stick with me. Let’s go.
E.J. Smith - Your Survival Guy
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