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Wow, what a question! I sit here at my desk, on my second cup of coffee in the darkness as the sun has not yet appeared. I ponder this dilemma and come up with a few cute answers, but . . . . the reality is if something of mine was lost, stolen or other wise disappeared would it bother me? NO, it would not. The bottom line is, if I need something I will just go buy it, even if it is the second time I bought it.
Bottom line is, the only thing of some value is me. And the value has nothing to do with dollars, but I keep going, best I can. 71 and counting.
My immediate family and peace of mind.
My wife. Our dog. Our health. Our E*TRADE account. Our beach shack. My harmonicas.
In a lot of ways, my health is my most prized possession, for the very simple reason that it allows me to earn a living.
My passwords, iPhone, iPad, laptop. Two-factor authentication means those are the keys to my digitized family photos, my bank account, my insurance account, my retirement account, and my ebook and streaming accounts. I can replace most things, but I need passwords and at least one device for daily functioning.
My most prized possession is my retirement nest egg which, I hope, will provide a financially secure retirement for my wife and me.
Having funds available for discretionary spending gives us the opportunity to do some traveling and allows us to purchase a few nice-to-haves.
My Salmon fly fishing rod. I look forward to using it every chance I get!
My most prized possession is my universal communications device also known as my iPhone. Not only can I bring virtually all of the world’s knowledge to my fingertips at anytime, I can talk with loved ones using facetime, share and store thousands of amazing videos and photographs, respond to friends and colleagues using email, find my location using GPS and use maps to get me where I’m going and use on of the hundreds of apps for useful helping me navigate my life. I just imagine what 15th century mariners could have done had they had iPhones. iPhones have had a truly revolutionary impact on humans globally.
My memories of great times with my family. Moving back and forth between Europe and the US, we don’t tend to save stuff. To the extent I do have stuff, they are small tokens that are memory cues for the great times, such as a flattened penny my sons and I created on railroad tracks, or a small elephant figure on a bookshelf to remind me of Thailand adventure. When we did first sell all oyur stuff to move, the things that were hardest to part with were all my books. Each one was not only a story or information in and of itself, but I was reminded by them of where and when I was when I read/used it. Many were given to me by my students, so I photographed the title or personal note page in each to hold on to those memories.
I don’t have lots of possessions because I find possessions end up possessing me. Whatever possessions I own have utility, and I spend a lot of money on those things to maximize their utility and effectiveness. The best two examples I have are: 1) my Tesla Model 3 with autopilot that make sitting in traffic less miserable (see previous HumbleDollar article); & 2) my clothing. If you dress nicely, people treat you better. I don’t spend a lot of money on my clothes, but I buy a few nice things and have everything (expensive or not) tailored to fit me. There are few uses of money more under-appreciated than money spent at a good tailor. As an attorney, I’ve found that clients actually listen better when I look better, which makes my advice ultimately more effective.
Good point about the tailoring. Not good seeing a professional with ill fitting clothing. Of course, also important to keep the body in reasonable shape as well.