Collecting cards taught me how to negotiate with friends and vendors at a young age. It also taught me how to make what seemed like tough and sometimes emotional decisions.
Becoming a solid negotiator only comes with experience. At times, it was intimidating to walk up to someone three times my age and try to strike a deal.
However, those skills learned at a young age have transitioned to many different aspects of my life. I made money by buying items at garage sales to resell on eBay in college.
Like any asset, its value can be wiped out overnight. This happens all the time with stocks, businesses, and real estate. This is important to keep in mind.
Sure, you should use all of the available information, but be sure to diversify since predicting the value of a future asset can be unpredictable.
When you get involved in a passion project, separating the emotion from the business aspect can be challenging.
You hear this all of the time with real estate investors. However, many investors are successful because they can take the emotion out of decision-making.