When I was in the third grade, my mom stepped back into the professional world and took a job at a new-ish company just down the street. She told friends it was a company that had “something to do with fruit.”
It was Apple Computer.
And she was one of the first 2000 employees. I remember her coming home and telling stories of the arrogant kid with long hair who walked around without shoes and threw temper tantrums in the cafeteria (she wasn’t Steve Jobs’ biggest fan). There were definite perks that came with working for Apple in those days. For example, every employee was given a brand new Apple II for their home. I was one of the only kids in my school to have a computer in my living room. Better yet, my mom was able to contribute to the Employee Stock Purchase Plan, which allowed staff to purchase Apple stock via a paycheck deduction at a discounted rate.
That was in 1980.
I’ve done the math to come up with a rough estimate of what that stock would be worth today. Are you sitting down? With the number of shares she purchased in the years she worked there, and the five stock splits that have occurred since, my mom’s shares would be worth somewhere north of $30 million today. And that doesn’t even include any dividends she would have received.
Am I living a lavish life as the daughter of a multi-millionaire? No.
Do I begrudge or regret my mom selling that stock in 1987 when she really needed it? Also, no.
You see, in 1987, our family went through some really rough transitions. My mom needed stability. She needed breathing room. She needed a way to stand on her own two feet. Buying a home for herself and her kids, that she could be proud of, and feel good in – that’s what those shares of stock bought her.
I hear a lot of regret when I talk with people about their money decisions. A lot of: “if only I had…” or: “that was such a dumb move” or: “I timed that all wrong.”
I’m not arguing that we don’t sometimes make mis-steps with our money. There are some decisions that could have been weighed more thoughtfully. There are some moves that are more rational than others. But there are also choices we make that give us something that shouldn’t be viewed solely through a lens of the market or calculated as a return on investment.
Every decision buys us something. And every decision costs us something.
Hindsight is good at tallying what a decision cost. It's bad at remembering what you needed. So before you file a past choice under "dumb move," ask what you were buying when you made it. My mom needed a home and solid ground for her kids, and she sold the stock to get both. I think she'd tell you it cost her options later in life: a more comfortable retirement, and a bigger inheritance for her kids. I'm one of those kids, and I'd make the same trade. Some decisions are better weighed than others, and some really are mistakes. But a choice can look terrible on a spreadsheet and still be one you'd make again.
🎬 Next time we talk, remind me to tell you about the propaganda video I starred in with Steve Jobs!
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