Options are valuable - that's why you can literally pay for them when you purchase financial options (eg. put options or call options). Options are valuable because they allow you to decide in the future whether to do something or not to do it - you will decide at that future date based on what is going on at that future time. Although you can't know what the future will be like today, options allow you to postpone the decision (in a way) until you actually do know.
For example, when you buy a call option on stock X you are paying a premium for the right to decide in the future whether or not you want to buy stock X at the predetermined strike price. Effectively, you're paying a premium today to lock in the purchase price. You pay that premium (and so do millions of other market participants) because such a thing is inherently valuable. How valuable is it? That's a far more complicated question and beyond the scope of this article - the question of how to value a financial option is a complex one that involves complex mathematics.
Just like a financial options, options in life are valuable too - that's why you should attempt to increase the options in your life. You should attempt to make decisions with attention to the optionality inherent in them. If you have to choose between two different paths, be mindful of any inherent options that are imbedded in the choices. These inherent options can add real value to the decisions and they should be ignored.
Let's discuss one simple hypothetical example to better illustrate the point made above. Let's say you are choosing between two houses that are equal in every respect except...
Now, you might not want to rent out any rooms NOW, but House 1 has imbedded optionality that House 2 doesn't. Should you need the extra money, should your lifestyle change, or should rents go up a lot in your area, you might want to rent out a room or two in your house. House 1 allows you to EXERCISE that option should things unfold in a way to make it desirable to rent out a room or two. Just as you would exercise a financial option if the market price of the underlying is greater than the strike price, you can exercise this embedded option should it be worthwhile for you to do so.
Therefore, all else being equal, House 1 should be more valuable to you and to the market due to the inherent optionality embedded within it - an optionality that doesn't exist in House 2.
And now, given the rise of cyrptocurrencies and crypto assets to quasi-mainstream financial assets, we're dedicated to providing quality, relevant, and interesting material on cryptocurrencies and cryptoassets. Articles on Bitcoin, Ethereum, Ripple, Cardano, and many more cryptocurrencies and cryptoassets can be found on Pennies and Pounds - all that in addition to a plethora of information on what cryptoassets are, how the entire crypto industry came to be, blockchain/immutable ledger technology, mining, proof of work, proof of stake, and how to prudently invest in crypto if you are so inclined (based on your risk tolerance and ability to withstand the volatility that will come with a crypto portfolio).