It maybe trendy YOLO nonsense, but as I get older I have taken to "experiences" more than I used to in the past. Do not get me wrong, I still love stuff, and I am not unaware that having cash at my disposal opens up the range of possible experiences. However, I must say my mood is often "I'll try anything once," as often as not.
To that end I recently became a part owner in three racehorses. Through the website MyRaceHorse.com I have purchased ownership shares in three horses, 1 share each in an as yet unnamed colt and unnamed filly, and 2 shares in a colt named Munny Problem.
All of these horses are 2-year-olds who are just beginning their lives as potential racehorses. I say potential because there is no guarantee any of them will ever make it to the starting gate of an official race. The race game is a tough one and plenty of well-bred horses don't make the cut for various reasons; they can get injured, they don't take to the training, they turn out to be really slow, etc. So, while technically you could call these investments (and that 100% is how the IRS will see them), in practical terms I'm buying a lottery ticket with each of these horses. My expectation is I will probably lose most of the money I "invested" here. However, if one or two of them have a career worthy of the name I will have a blast having a rooting interest. I have been betting on the ponies for more than 30 years and this would mark the first time I had a rooting interest that didn't involve trying to hit the Daily Double or exacta.
That would be an experience well worth having.
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