As an investor, I really blew this one.
Back in 2007, I had a chance to make an investment that would have provided me a guaranteed – absolutely, positively guaranteed return of 18%.
And I blew it. I didn’t pull the trigger and begin hoarding the asset I utilize in this business every single month.
It would have been so simple to invest $4,920 in enough of this asset that would have covered me for at least a decade. And, more than give me an 18% return, actually would have protected me against 18% inflation.
What idiot would have missed this? It was advertised. There were news stories about it and it was talked about for weeks at a store I visit at least three times each week in Ashland. How could any knucklehead miss it? I had the funds, I had the information – sadly, I just didn’t think ahead.
That magic investment?
The Forever stamp.
Priced at 41-cents in 2007, is now 50-cents. That little flag stamp which sends out Boone County Journal bills etc. was an outstanding idea by the US Postal Service as most bought a few more stamps right before the price jump each year, but few of us bought five grand worth of stamps.
It worked for the post office just as much because they have one stamp to work with and we don’t have to buy additional 1-cent or two-cent stamps to add onto old out-dated stamps.
So, the postal service hit a home run with their ‘forever stamp’ idea. And why don’t more businesses or products utilize the same marketing idea?
The economic premise of the Forever Stamp is to pull in enough revenue to keep the post office delivering the mail for a few more years.
And maybe make a profit.
So why not a few other businesses offering “forever” products, such as:
Forever Phones – If you could lock in the price at $2,500 today, you might be laughing in another decade when phones cost the price of a low-mileage, used Toyota Camry.
Forever Water/Sewer rates – maybe the City of Ashland could avoid the practice of multiple price hikes in a year if they just give us one, ultimate price hike and guarantee it “forever.”
Forever Gym Memberships – The Southern Boone YMCA might be wise to look at a combination donation for their new facility and “forever fee” to provide a lifetime membership to their workout facilities.
Forever winter gloves – At the rate they lose gloves and hats, what household budget wouldn’t be money ahead to invest in winter gear when the kiddos are toddlers, to last until they are at least 18?
Forever Tacos – My new-found love of Fuzzy’s Tacos would certainly make it easier on my wallet over the next decade, but my waistline would certainly pay the price.
Forever cable TV – Nah, never mind – I unplugged years ago and seems as though everyone else has had it with paying for the Golf Channel and never watching it.
Forever Health Insurance – Well, let’s not go crazy here. It’s not as though the government, hospital officials or anyone else has figured out what to do about health care and how to pay for it. And “forever” pricing isn’t likely the fix. But deciding to improve the current system might be the first step towards helping Americans be healthier.