A parlay in craps is akin to 'letting it ride' or for the non gambling among us using your winnings and betting them back on the table. Sure you stand to lose it all on risky bets but life does not seem to link well with those who just play it safe. Life seems to be a continual slide down into what people term 'death' or oblivion or whatever in which only the ones who really make at least a push for the top enjoy a life well lived. What has been a constant personal troll of mine is getting into situations where my fear pushes me into actions which are a guaranteed slight loss instead of a possible medium loss and an incomprehenisble gain. If anyone has read many of my other posts I'm a big advocate of Pascal's Wager - making small bets which if lost are inconsequential in the short run but could pay off huge in the long run. As a craps player I was always kind of an iffy breakeven player until I discovered the power of the parlay. Sure I may lose 50-100$ sometimes 200$ a session but in the long run given my infrequent gambling (none now at this point) that money would not matter anyhow and I've had some big wins to show for it. 10$ --> 400-700$ twice maybe 10-->200 once and a 1-->280$ triple parlay on the any craps on the come out as my best burst. What if I made small bets in the past on every precious metal? On the stock markets? (which have continually grown) What if I applied momentum and parlayed instead of spend and/or sit?
Sooo..... I was taking a halfway conscious nap this afternoon and an odd thought came to my mind. What if instead of getting money/presents/whatever else people get for birthdays/christmas/giftgivings/housewarmings/etc... I ask for precious metals instead? Realistically I'd just request no gifts just modest cash donations for a 'special project' and turn them around into precious metals if the market price is good else deposit them into lending club certificates for the 5-15% interest. I'd then take this money around and reinvest it again! Once the money got big enough similar to pruning a tree I'd take a small bite off for my own personal happiness while knowing in the background I had a financial foundation which brought me peace.
It would be a slight change of pace from the norm. Instead of splurging on whatever I'd want to get with the usual consumerist mindset I'd invest all the money instead. This would require me to continually work on being happy with less which is a path I started on since I was 10 (it somehow hit my consciousness at that age that getting more stuff did not make me happier. In fact it made me sadder as I realized the number of sacrifices people were making to get me things). Anyway I left the boat of consumerism long ago and opted to save my money but in lieu of investing I just saved my money up waiting to make the big jump into starting my own business or whatever. I never got the 'chi' or whatever to make that jump years later unfortunately. With the economy still in shambles though saving fiat currency is a guaranteed loss (history also shows this) so every so often I thought about investing. I asked for advice from many about the markets and got mixed results which I shared in this older thread from John Wes linky. A few weeks ago I decided to disregard all the limiting beliefs regarding the markets people have drilled into me and jump into them myself linky2. I invested a modest 500$ into Tesla Motors on the recommendation of DrOdio linky3 and since then it's been steadily climbing upwards.
Looking back now I wonder how much more I'd have if instead of being a consumer or a saver (which is kind of a fear-based reversed pole of being a consumer [one addicted to material items]) I became an investor instead. Investing comes with risks as I found out with my stock based retirement account when it dropped 40% in value during the great 2008 crash. Despite these risks saving seems like a sub-optimal play based on fear and with a slow but guaranteed loss over time. That stock loss has eventually rebounded with the market. Anyone who's saved money in the bank from the 1920's will be dead broke today (unless you had actually currency or precious metal coins then you'd be well off :D ). I'd hate to turn this post into a total admonishment of fiat currency as the world holds US fiat in very high regard but one cannot deny the effect of inflation and the continual price rises that occur all around us. The chances of a SHTF (shit hits the fan) scenario realistically happen in the US after I take my emotional thinking out of the picture seem slim to none tbh in my assessment. There are too many people concerned with politics/economy to have that happen in this country - for millions upon millions of people to just give it all up just like that. Imagine how much better our country would be if all that wasted energy both political sides use to bash each other day and night went into ACTION. If our economy did collapse one day from political infighting I believe we'd all try to make it work without currency instead of devolving into some post armageddon zombie movie.
So yeah going back to my original thought now that I'm fairly convinced the US will be here for a lot longer. What if I converted a good portion of all the gift cash I got thru the years into precious metal gold and silver? Unlike fiat these seem to hold and grow over time despite being VERY volatile due to them being actual goods. What if I put them into lending club and high yield investments? What if I even took 10% of that and put them in moonshooter startups and started attending financier conferences in the valley? I'm thinking I'd be just as happy as I am now but much richer to boot with little risk of failure.
I think of parlayed investment as a paradigm for life now. Using the golden goose to lay eggs or whatever they call it instead of slaying it for chicken tonight and nothing tomorrow. Most people think you need a ton of cash to make a living off investment but I have an odd gut feeling that may not be true for some reason. Instead of spending 100$ to buy something what if I just put it into a 10% investment and waited a year (working on my willpower and discipline). The next year I will have 10$ of interest and maybe moonshoot that money into precious metals. Orrrr just put that 100$ into precious metals and wait a few years. I've bought some ounces of PHYSICAL silver recently (despite the bubbled price) to ease myself into this new mindset along with the TSLA investment I mentioned earlier. I don't know maybe I'm being the over-idealist again but parlayed investment seems like the path to financial security once you really get momentum going.
I never really thought about investing till a couple years ago because I just didn't have money to invest. I opened up a retirement account when I got a job as a sort of long term tax shelter and put money in that. Admittedly since it's all mutual funds they aren't exactly moonshooters and my return has been along the lines of ~4% in 5 years. Despite that I wonder what would happen now if someone gave me a gift of 10 ounces of silver instead of 100$ a decade ago. I'd have 280$ now instead of having nothing given that 100$ long spent. The happiness that 100$ has brought me was transient and has been LONG gone. The happiness of having a constantly appreciating asset that survives inflation would not be so burstingly exciting back then but as time stretches the small joys of having financial backbone may add up to exceed whatever joy I had from spending 100$ just like that. What if I saved up all that gift money over the years and had 1000$ then invested while I was young into gold? I'd have a tree I could prune for money now. Mortgages and loans are the bank's way of applying this concept and we've all seen the astronomical fortunes they make now.