Is Amazon Good or Evil For Your Money

“Strip Malls Are History”

— Jeff Bezos

Amazon Is Everywhere

Amazon, the company,seems to be everywhere, much like the river in South America it was named after. Amazon started in 1995 with a single book sale out of Jeff Bezos’ Seattle area garage and has since grown  to over 135 billion of revenue in 2016.

Here’s a bit of the history of Amazon’s stock price and revenue over the years

Stock price:

  • May 16, 1997 $1.73
  • Dec 31, 1999 $76.12
  • Sep 28, 2001 $5.97
  • Nov 21, 2008 $37.87
  • Dec 31, 2010 $180.00
  • Dec 2012 $245
  • Dec 2014 $309
  • Dec 2015 $676
  • Dec 2016 $750
  • Nov 27 2017 ~$1,200

Revenue:

  • 1995: ~1 million
  • 1997: 148 million
  • 2000: 2,762
  • 2005: 8,490
  • 2010: 34,200
  • 2015: 107,000
  • 2016: 135,000

Who knows where/what Amazon will go or do next but it’s obvious that Amazon is here to stay and has forever changed the shopping landscape.You can use Amazon to buy just about anything, from just about anywhere and have it show up where you want it in as quick as a couple of hours. Wow, talk about convenience!

I’ve been a user/fan of Amazon for nearly 20 years.

  • Member since Sept 1998
  • Used Amazon to purchase just about everything over the years, from Cat food to flat screen TV
  • Amazon Spending (Sept 1998-Nov 2017): $16793.74

Good vs Evil

The question is, “Is Amazon good for you, or it an evil scheme to get all your money? Let’s explore that a little more and see what the answer might be.

  • Amazon is a fantastic resource, it increases access to a variety of products, makes shopping convenient, and it can save time and money if used properly.
  • Some say Amazon has destroyed local businesses and is negatively impacting the retail landscape, much like Jeff bezos’ quote alluded to.

The answer? It’s both good and evil, depending how you utilize it:

  • Overspending can happen anywhere, not just on Amazon, so it’s up to you to plan for and spend your money within your means. Don’t blame Amazon (or anywhere else) if you overspend.
  • The key is to have a plan for your money before you start allocating it.
  • Don’t always assume that the price on Amazon is the best. Do your research.

Visit CamelCamelCamel as a resource for price checking on items you may be considering.

Use Google Shopping or some other similar service to research/check prices.

The Fun Money Segment-Meditation

Meditation is one of the best things you can do to relex, destress, re-energize and improve your life. Unfortunately meditation has also gotten a reputation of being difficult, time consuming and elitist. Well, it isn’t any of those at all. You can realize the benefits of meditation in a very short time. How short? How about 8 minutes!

8 Minute Meditation is a fantastic, easy to use book. I’ve been using the book to help me meditate for several years now. While I find myself being slightly sporadic in my practice of meditation (I haven’t done it in a few months), whenever I do make a commitment to it I realize the benefits almost immediately (within a couple of days). I will usually meditate either when I first get up or right before I go to bed.

Contact And Connect

If you would like to work with a financial planner to help you set and reach your financial goals while enjoying life along the way I would be honored to speak with you. Just send me an email and we can set a time to speak and see if my services might be a fit for your needs.

To leave me feedback, comments and suggestions on how I can make this podcast better. Just email me at mark@financialclaritypartners.com .

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Twitter: @PlanWithClarity

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Image courtesy of Walt Stoneburner via Flickr

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