Uber vs. Lyft

Today I tried to use Lyft for the first time instead of Uber. In the past I have used Uber as my preferred ride service but my son told me to give Lyft a try. He has both apps on his smartphone and told me that Lyft would save me $15 today. So I loaded up the app on my phone, put in my credit-card information and hailed a ride for me, my wife, and grandson.

Both Uber and Lyft applications look very similar. Yes, there are differences but they are mostly cosmetic and otherwise behave the same. You have choices for different levels of service and know the number of people you can squeeze into the car. This is very important as there were 3 of us. You can also see the driver's rating and where he/she is on a map in relation to your location.

I could see that our driver was getting close to us and then he disappeared. The Lyft app then told us it would locate another driver. We waited for about 5 minutes and it told us nobody wanted to give us a ride. We then had to reschedule a new driver. I went in and tried to schedule another ride and the price increased by $10. I then switched to Uber and put in our destination. The price was half of what Lyft wanted and so I booked the ride with Uber. Furthermore, we had waited 15 minutes for Lyft already and the Uber driver would arrive in 2 minutes.

I'll be the first to admit that you can't base your opinion for a company on one unfavorable experience. I will also say that I have had an Uber driver get close to picking me up only to cancel at the last minute and make me order a new ride. That being said, I am probably never going to use Lyft again. Uber has treated me well in the past and I think they have gained my loyalty. Besides, I am not traveling nearly as much as I used to and I don't really need Lyft or Uber services as much as I used to. Today was just one of those exceptions.

Ideas for Investing $2000

Recently I opened a Webull trading account and started playing around in the stock market. It has been less than 3 weeks and I have increased my investment by 30%. Part of that is because the overall market is up and part of it is because I guessed and purchased an undervalued stock that is going through the roof right now. The exercise has got me thinking about other investments one could make and that is the inspiration behind today's post.

I chose the amount of $2000 because it is a sum of money that a lot of people can easily raise, especially with a potential new round of stimulus checks. It is also a number that lends itself to smaller investments and not enough for a larger investment such as a home.

I also want to think outside the box. When most people think of investments, they picture the stock market and I want to go beyond that. Yes, it is one option but what other options exist. I doubt I will create an exhaustive list but it should give you some ideas of what will work for you. You may even come up with some better ideas on your own.

The Stock Market - Yes you could do as I have done and invest in the stock market. The problem is that there are thousands of stocks to choose from. What do you invest in? Many investment advisors suggest companies whose brands you use. This is why a lot of people invest in Apple (APPL) and have done quite well over the past years. I saw the run on toilet paper since COVID-19 began and invested in a toilet paper company. Unfortunately that stock has lost value for me. It is only down $2.50 and so I am not too concerned, but it does highlight the fact that you can lose money in the stock market. Let's look at some other ideas that many will find more appealing.

Invest in Yourself - A long time ago I used to work for Oracle Corporation. I had a fair number of shares of stock in them (ORCL) and sold that stock to pay for my college education as I received the stock while I was in high school. I don't regret that choice at all. You could do the same thing with the suggested $2000 and invest it in your own personal learning. It won't come close to paying for a college degree but it may allow you to take the continuing education course that gets you that better paying job. Perhaps there is a skill that you want to learn simply to improve your own quality of life. While it may not reward you monetarily, it will pay you back in other ways.

This brings up investing in your self image. You have to be careful with this one as some people tend to go overboard but it is something to consider. If you work in an office where people dress up, it makes sense to invest in nice clothes. Perhaps your teeth are a bit crooked and you are very self conscious about it. Just be sure that the investment you are making will truly pay you back in some form. Don't use it as an excuse to buy something you don't really need.

I think you are the first area you should look at before other investment opportunities. If you are satisfied with who you are and what you have become, then you can look at other investments.

Invest in Tools - Before you can build a house, you better own a hammer. Not everyone wants to go into construction and there are other tools you may need for your interests. If you want to become a YouTube star, you might need a camera or a computer. You might even be able to get started with a good smartphone. $2000 is a start to help you get going. Just be forewarned that YouTube sensations don't happen overnight and it may be a year or more before you see any repayment of that investment. This is where my 30% in 3 weeks starts to look good.

There are plenty of other examples of purchasing tools that will help you earn money. Right now there are several car manufacturers that are offering 0% loans on new cars. $2000 would be a great down payment that could get you a rental car that you can make available on Turo. I skied with a guy who has a small fleet of Hondas and renting them on Turo is his full-time job. Perhaps you don't like the idea of letting someone drive your car and you dream of becoming a Lyft or Uber driver. A new car would definitely help out especially since both companies have minimum standards for the quality of cars they allow you to drive.

I'm sure there are plenty of other examples of tools purchases but I don't want to go on too long and will leave other ideas up to you.

Hopefully this has given you some new ideas on what to do with your investment money. Just remember that an investment takes time to mature. Stocks may be down or your YouTube channel may not have the 1000 subscribers to allow you to monetize your content. Hold tight, keep at it, and don't panic. Remember that investment money should not be needed for a year or two. If it is needed before then, don't invest it.

Hard-Working Uber Drivers

I spent the first couple days of the week at Disneyland. Yesterday I didn't want to bother my wife and make her drive me to the Los Angeles International airport at 4:30 in the morning and so I took Uber. I think the $50 cost was worth it to my wife and two daughters who would have hated taking me at such an early hour.

I got in the car and started up my usual Uber conversation. I asked questions like, "How long have you been driving for Uber?" It came out that the driver would soon be quitting. He has 2 kids in college and has been driving to supplement his normal income to help pay tuition. His son will be graduating in December. It impressed me that my driver would wake up at 4am every day, drive to Disneyland, pick up a customer, and drive near the airport where he works his regular job. Then he would do the reverse each evening. He did this for his kids and I have to admire that.

With ride-share services such as Lyft or Uber, anyone with a car should have a job if they need one. My Wednesday morning driver realized that he needed a bit of extra money to help with his kids' college and signed up with Uber. He doesn't drive all day, every day. Instead he drives one trip in the morning to near where he works and then one in the evening. He also confessed to driving a few people on weekends as well. So if you find yourself needing a little extra spending money, take a page from this playbook and consider driving for Uber or Lyft.

Uber at Disney World

My wife and I took a trip to Disney World last week so we could do some research for a potential future family trip. We found a great place to stay on AirBnB that was supposedly on the Disney World property. One advantage of staying on property is that you can use Disney's excellent transportation between your hotel and the different parks.

We arrived in Orlando on Monday and took Uber to the hotel. During our check-in, we asked about getting to the park and were told that a rideshare was the least expensive way to get there. At that moment I realized that any cost savings by inexpensive accommodations could easily be negated by trips back and forth. Fortunately my wife and I could leave the hotel in the morning and not have to return until the evening. Anyone with small children requiring naps would require two round-trips instead of our one.

Ultimately we had a great visit but were glad that we hadn't brought the entire family. We did have our youngest daughter with us but could all fit in a single car. With small grand-kids and ten adults we would have spent a fortune with Uber or Lyft.