menopausebarbees
... the tales of two sisters

Dana lives in Seattle, and Tracie lives in Germany. We are businesswomen, writers and humorists. We write about life, dating, and today's modern women.

Cash Erodes… Equity Endures

Cash Erodes…  Equity Endures

This was instilled in me at a very young age, and it is an integral part of creating generational wealth.

I was dating a highly celebrated professional football athlete in my early twenties.  It was easy, in my impressionable youth to be dazzled by the multi-million-dollar sports contract and trappings of the “Baller” lifestyle.  I obtained my real estate license at 19, and I sold my then sports star boyfriend a Kirkland waterfront penthouse for $750K. My father, a big believer in investing, berated me for selling the highest priced non-income producing property in the vicinity.

According to the NFL Players Association, the average career of an NFL player is 3.3 years.  The money is good, but short lived.

My father continued to intervene and try to get my circle of professional athlete friends to sit down with him and discuss investing.  Most of these young men had been raised with meager means, and it was their first encounter with real money.  So, the fancy cars, Rolex watches, swank home furnishings, exotic golf vacations, and so forth made the acronym NFL translate to  “Not For Long”.

I attempted to broker the sell to one professional athlete a 16-unit Capitol Hill apartment building.  Ironically, the cost was the same $750K price of the Penthouse I had sold my boyfriend.  The athlete’s agent didn’t think it was a good idea.  Today, that same building is worth north of 7 million.  I ran into this guy a few years ago and he lamented that he didn’t invest as the cash had long eroded as did his relationship with the agent.

Daddy enjoyed collecting exotic cars. However, these purchases were long after he had established himself in the investment arena. Below are photos of he and I in a Clenet, a roadster modeled after the open cars of the 1930s.  The other photo is my father with my sister and co-blogger, Tracie and her son, Marc in an English roadster called a Centaur.    I have no idea where these cars are today, but I can still touch the real estate used to finance them.  Equity Endures….