Tuesday, March 28, 2006
Let Me Introduce You to the "Found Money Jar."
A long time ago, on a coastline far away... the found money jar was born. It all began with a bet with my younger brother that anyone could attain some wealth just by investing all the money that one finds during his lifetime. It was about christmas time in 1999. At the time, I was 32 years of age. My brother, a frustrated and demoralized debtor who was a mere 27 years old, was lamenting to me his inability to refrain from debt and credit card use. He, from time to time, was able to save a few bucks... only to be out of cash as his partying and various girlfriends would clean him out. (Thanks to God for letting him marry a rich wife with good money habits!) Anyway, back to the story, our conversation ended with a vowel that I would one-day create an extra ten thousand dollars $10,000.00 (maybe even more) to use when I retire by gathering all the dropped coins and bills I find at work, during my daily errands, along dog-walks, on vacations, at the park and tennis courts, and while tagging along my wife's shopping excursions. Whenever the "found money jar" count reaches a few hundred dollars, it is invested in real estate investment trusts and dividend paying stocks. Since the beginning, these funds have been kept in separate account and never comingled with other personal assets. My wife and kids also participate in the found money jar. The first coin found was a lonely penny at the Giant Grocery Store in Reston, VA. The total amount of U.S. coinage and currency found is $436.02 and we last counted January 28, 2006. $202.50 of the "found money" is invested in shares of the Pennsylvania Real Estate Investment Trust(PEI-NYSE.) With Dividend Reinvestment and a recent merger, the trust shares have a total value of $643.95 (as of 3/27/2006.) The total value of the Found Money Jar fund is $877.47 (not including the "findings" since 1/28/2006.) Come back to this blog and you will find my intrepid adventures of the "Found Money Jar." I'll detail the "finds, talk about our investments and how I'm managing the funds. From time to time, I'll even spin some tales and let you in on some secrets.