How Nancy Dunnan Changed My Life

TB and I were chatting yesterday and somehow we ended up talking about investing. The crux of the conversation was how so many of our family members view the stock market as a massive Ponzi scheme setup to allow institutions to steal money from small investors. Perhaps this is true, microscopically, yet investing in equities, particularly stock, has been a surefire method of sustained asset growth over the long term. Still, the stock market is viewed by many in our families as something to be feared rather than something to be leveraged.

This fear is real and cannot be summarily dismissed. I wish I could chalk it up to conservatism, yet these same people throw caution to the wind whenever the next get-rich-quick opportunity (aka scheme) comes knocking. Another explanation is complexity. The stock market involves millions of numbers, some with lots of decimal places, others with lots of commas. There are also numerous financial & technical terms resulting in a jargon and shorthand that could scare away just about anyone.

I am sure if you asked the average person to walk you through the process of buying a share of McDonald’s or Starbucks stock, they probably could not tell you. However, they can quickly tell you what comes on a #3 and that they prefer Grande-raspberry-soy-extra-hot-no-whip-mocha lattes. For many people, it is easier to buy from most publicly traded corporations than it is to invest in them.

I could have been one of those people. Statistically, from my upbringing, I probably would have as well if it were not for a book I bought and read one college summer.

Continue reading “How Nancy Dunnan Changed My Life”