Everyone has their own ones, but in this post, I’ll highlight to you what worked out for me.
(Yes, it took me years to figure it out, I slept in the meanwhile)
It might be a little bit long, but I believe it's HIGHLY important.
🔸 𝐒𝐚𝐯𝐢𝐧𝐠 𝐜𝐮𝐥𝐭𝐮𝐫𝐞
The first key pillar is surely learning how to save money.
I'm not talking about renouncing a good dinner at a restaurant or never having a party with your friends.
What lasts forever isn't material stuff but memories, and youth ones are something precious that you exclusively collect while you're in the 15/30 years old range.
By saving money I'm talking about refusing s*** that doesn't add value to your life.
Alcohol and smoking don’t add value.
Designer stuff neither.
A new item when you already have one that perfectly does the work? No way.
It's ok to drink some beer.
It's not ok to make it a habit.
These are all society’s traps made to keep you in a cage forever.
The soon you'll realize it, the better.
🔸 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 + 𝐜𝐚𝐬𝐡 𝐫𝐞𝐬𝐞𝐫𝐯𝐞
I already know what you're thinking.
“Ah, the classic cliche of investing, I already know it..”
Might be, but you cannot make money without putting them to work.
And I'm not talking solely about cryptocurrencies, I'm referring to having an elastic mindset to consider other sectors:
• Real Estate
• Commodities
• Luxuries
• Art
• Stocks
Expand your horizons, especially once you start making substantial profits.
Your goal is to conquer as many areas as possible.
Additionally, NEVER forget to build up an alternative fund made of liquidity.
You'll never know what will happen: want to buy the dip, necessity to repair your car, desire to pay for S*x (joking)
ALWAYS leave some cash aside.
🔸 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬
This is something I discovered way too late.
𝐄𝐚𝐜𝐡 𝐨𝐟 𝐮𝐬 is good at doing something.
Cooking, programming, writing, drawing, giving advice, singing, playing games..
Our limit is just our fear of not succeeding.
If you wake up and think about a specific passion every day, something that makes your inner fire continue burning, THAT is the thing you need to translate into a business.
Something you love to do and you are such good at that people can pay for.
This is not a sexy “entrepreneur” label to flex on the gram.
The world around us is falling, people lose jobs every single f*** day.
Tomorrow you might wake up and get fired because your job becomes obsolete.
You NEED to have a plan B, it's a necessity for yourself and your family.
Don't make the mistake of exclusively relying on investments..what happens if the musical chairs game end?
Develop a high-demand skill ~> be so good to get recognized ~> start producing cashflow
Do NOT fear the judgment of people, you'll always be criticized by the ones who are doing LESS than you.
They mocked me once I started to build this account.
Now they’re in disbelief.
🔸 𝐏𝐚𝐭𝐢𝐞𝐧𝐜𝐞
Do you know what is the real secret behind wealth?
Yes, motivation.
Yes, discipline.
But also patience, something that modern humans truly lack.
Pulling out a +100% from the market and being patient for the next opportunity to come is HARD, but this is how wealthy people play.
They don’t go for the rocket moon shot like retails, they go for pulling out profits at HTF levels and then patiently wait to compound.
That's why retails get rekt and institutions continue to get rich.
Also, have patience with everything you do in life: business, relationships, progress..
Don't make the mistake of watching others and thinking “It’s far way ahead of me..”
Everyone has a different story and modus operandi but most importantly, everyone has his TIME.
It doesn't matter how much it can take, the only thing that matters is the final destination.
If you've come this far, I hope my post provided you with value.
#learnwithDLabs #Decryptedlabs
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this post/article includes personal opinions. Readers are encouraged to do thorough research before making any investment decisions. Decrypted Labs is not responsible for any financial losses.