"Let me take you back to 2007.
I've started my corporate career and a lot of guys start showing up who have left/had their jobs disappear at mortgage companies. Things feel great. Deals are easily done (I don't work in mortgages btw) and everything seems good. 16 months later financial hell on earth. Things I saw then and along the way (including last year):
A 31 year old guy who loses everything including 12 houses (including his primary).
A mortgage guy who had a bugatti and did a 600k house remodel for a backyard end up with $10k. After making $800k in 2007. That's like 2 mill today. In a year. Ends up with zero assets. No retirement.
A guy recently lose a company that could be sold easily for $3 mill become worthless because of excessive risk taking
I hope this can help you make it to the finish line:
1. Pay your future self first. I don't care if that means owning a small home outright, putting some $BTC /$ETH /$SOL in a long term wallet you don't touch for 10 years. Pay your future self first. Get in the habit. Even if it's $50. Get in the habit.
2. If people know you are in crypto and ask you how much you have, tell them 10%. If you have $250k, that means you have $25k.
3. Lifestyle inflation will destroy most people. I know people that HAD to have the big house. It wasn't enough to have a BIG House. They needed the huge one. It destroyed their crypto position.
4. Your goals are not the same as others, but I think for the majority freedom at a younger age is more valuable than really rich at an older age.
6. Push yourself harder to get more assets when you are younger. Not leveraged assets. Assets you own. I've never met someone who said "I really regret owning several houses outright".
7. Even if you hate your day job, if it pays well, keep it. you can have great investment ideas but they are meaningless without capital.
9. I think the easiest hack is take whatever lifestyle you want and minus one rung AND live a lower lifestyle. This will speed things up tremendously."
source : Unknown.
Let me know what you think.