Like most people, I love being right. I don’t gloat, but I get a self-satisfied grin on my face or try to further explain why I’m right. Not to rub it in, just to make sure my point is really heard. It can be annoying. I can be annoying.
At the same time, I love a good debate. I love when people try to punch holes in my thinking and I try to plug them. There are times, like now, when I ask people to do just that.
My cousin, with whom I am very close, is one such person who challenges me. He is prone to weird conspiracy theories, which are potentially harmful, but when it comes to money, investing or making a big purchase, he’s the one I call. I may not give him all the information, because I try not to put my business in the streets, but I give him just enough to spark further conversation. His arguments, when based in reality, are usually pretty sound and he makes me see things through a different lens. This is one such instance.
I call to discuss my plan to purchase another home sooner rather than later. He initially said he had to think about it. As I talk more about the stock market, value of the dollar and uncertain economic outlook, he formulates his counter-argument.
It is essentially this: when you chase the market, it never works out--stick with your plan. Meaning, trying to time my move just right could come back to bite me. “What if,” he argues, “the dollar’s value plunges from 20 pesos to something much lower? Then what?”
Then what? The question hangs in the air.
His youngest son comes downstairs and asks if he’s talking to me? Needless to say, my baby gets the phone, talking a mile a minute, and the conversation between his father and me has ended.
I keep thinking about what he said though. I flip his logic on its head.
What if the value of the dollar grows from 20 pesos to 25 pesos?
What if the cost of real estate skyrockets later, and it becomes unaffordable?
What if the long talked about recession arrives and my current investments take a big hit?
What if there is a dearth of available homes?
There is only so much I can control and the “what ifs” listed above are so far beyond mine. I have to focus on what I can control.
I can control the money I invest now.
I can control how much I spend outside of my mortgage and maintenance, and the things I deem as necessities.
I can control whether I assume risk now, or risk waiting later.
When I call my mother to tell her what my cousin said she replies, “Well, you leaving bothers him. He thinks of you as a sister.”
Reading between the lines, she’s saying he has an interest in keeping me here.
So, this is where I am today: undeterred, unbothered and unbent.
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