A penny for your thoughts?

Here's another column from my pre-retirement career...a little piece about how unpredictable the future always is. Read on!

Going through some of my parent's stuff recently, I came across a small, heavy box with my name on it, marked in my dad's handwriting. The battered old box was typical of my dad; clearly it had been used, used again, and then packed and taped tightly enough to repel hordes of invaders.

Infinitely curious, I dug my way through the wrapping. Inside, I found 28 rolls of uncirculated pennies dating from 1956 to 1964. Under the pennies, I discovered a note from my dad, written in 2002, when he would have been 84 years old. It said:

"Back in the early 60's, I bought about 80 rolls of uncirculated pennies, at about $2 per roll, thinking they would inflate at a great rate. So now, 40 years later, they are quoted at 65 cents per roll, a loss of $1.35 on each...wow! So I am giving each of my sons these rolls to do as each pleases. Love, Dad."

Growing up in the Depression, my dad valued frugality. Every single penny counted. I love how he imagined these pennies gaining in value over time, and his delight in then imagining our surprise, years later, when we discovered this great investment! 

To me, these pennies are an icon for the values he taught us. He instilled in us a profound sense of what I call "high quality frugality"---that every penny should create maximum value. But my dad also believed that money was just a tool, a means to get things done...not an end in itself. He would remind us: 

"The most important things you can buy with money are time and freedom. Don't waste either. After all, money doesn't really exist; it's just a promise about the future."

So here's to the future. Let's spend our promises wisely.

All the best to you,

Michael

"Point Reyes Rust", D. and M. Hannigan