$500k Procrastination Cost

Andrew Wilkinson shares a story about how procrastination on paperwork cost him $500,000.

"I had a piece of debt in the company that I wanted to lock in the interest rate on. We were going to buy all these hedges, and in order to do that, I had to sign all these documents. I'm kind of lazy - I hate signing documents. These documents were sitting in our office and I kept saying 'Oh, I'll do it tomorrow, I'll do it tomorrow.'

I kept putting it off, and then finally I signed it. I realized that between the time it was sitting there for a week, the interest rate went up by 1%. That represented like $500,000 or something insane. Just me being lazy and not signing that document and not thinking in percentages cost me $500,000."