Seems like the older I get, the less I know.
In the information age, human knowledge is doubling at record speed.
How do we keep up?!!
Fortunately, there is a group of individuals in society that know everything. Years ago, I too belonged to that enlightened crowd.
They think of themselves as invincible, but we know them as teenagers.
It’s kind of amazing how they have seen so little, done so little, and yet know so much. We older types often feel like wisdom comes with experience, but don’t waste your time trying to explain that to them. After all, they are already two steps ahead of us and they don’t even need a nap in the middle of the day.
Given their vast and ever expansive knowledge, it’s kind of a shame that they are poor. After all, they keep up with the trends, pop-culture, and the latest and greatest gadgets about to hit the market.
Wouldn’t it be great if we could just turn our money over to them and have them invest for us? I’m sure we’d all be millionaires in no time flat if we just followed the teenagers, right?
On the other hand, perhaps my logic is faulty.
Teenagers tend to be impulsive and lack discipline. They also tend to be over-confident risk minimizers who think they are indestructible.
Funny thing is, I know some adult investors who “invest” like they are teenagers. I put the word invest in quotes because I don’t consider what they do to be investing at all. To me it is more like speculation or gambling.
These things go by various names such as day trading, venture capital, oil exploration, market timing, etc.
If you are going to gamble, wouldn’t it just be easier to get into the DeLorean travel back in time and bet on the winning PowerBall numbers?
Oh yeah, time travel hasn’t been invented yet, but rest assured the teenagers are working on it.
Thankfully, I don’t have to look to the future for my financial security. I’m building wealth based on the past. Not just yesterday, last week, last month or even last millennium.
I’m talking about stone-age stuff here. You know Hanna Barbera Flintstone yabadabadoo kind of stuff. Sorry for the childhood flashback, but stick with me here.
What do we call people from the stone age?
I can hear the teenagers in the crowd saying things like Cro-Magnon or Neanderthals, but I’m thinking simpler.
We call them Cavemen (and Cavewomen).
Why do we call them cavemen?…because they sought shelter in caves.
You see, cavemen needed food and they needed shelter. Those always have been and always will be basic human needs. Cavemen didn’t have cell phones (although I thought I saw one talking on an iPhone the other day), but they did need a safe place to rest their heads at night.
While so much has changed from so long ago; food and shelter remain basic human needs today. I don’t need to know what Elon Musk is doing, which penny stock is going to make it big, or if Tesla will someday produce a flying car.
What I do know is that people always have and always will need shelter. Those of us wise enough to provide it for them are being rewarded handsomely for doing so.
So take that teenagers and pardon me while I go lay down for a nap.
P.S. As good as the past has been for apartment investing, the future looks even brighter. Add the researchers over at the Urban Institute to the long list of people saying so. Check out their report: We Are Not Prepared For The Growth In Rental Demand.
They are calling it a “Perfect Storm” of factors driving the large growth in renters.
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