I am intrigued by the concept of making and investing money. It has been my obsession for the past few months. I've learned a few things in the past few months that have changed my mindset and I just want to share some of my thoughts on the issue.
I love making money. I used to think I didn't have enjoy making money but I have learned otherwise. It is a dopamine-filled venture that can engulf your entire existence.
I used to wonder how people would sit in front of their screens trailing charts and finding good buying and selling positions, and this whole experience encapsulated their entire life. It seems quite banal to me.
However, taking a deeper look into it and understanding the psychology behind making money, it is quite obvious to me why most people would follow such a path. It explains why someone like Elon Musk with all the billions he has still pushes himself to achieve greater things in the field of engineering.
It is more than just the money. It is the feeling.
It is the drive to surpass your previous achievable because it is doable. A month ago I was only dreaming about pushing my portfolio to a thousand dollars. Now it's above two thousand thousand and I am thinking why not ten thousand.
Greed you may say and you might be right. I am totally fine with this greed as long as it doesn't lead me down the road of get-rich-quick schemes and whatnot
Making your first million is hard. However, making your second million is easier.
There is no doubt that money begets money. This is why the rich keep getting richer. Their money keep earning more money and it compounds and grows exponentially to the point the average person begins to doubt its legitimacy.
This is the sweet spot. This is in the unchartered territory where many never venture into because they are ill-formed.
Most of us were never taught about investing in school. All through the various academic stages of our lives, we were thought to prepare for the labour market.
Unfortunately for most of us, we discovered that there wasn't much in terms of demand for labour. Mechanisms and AI are taking over. Now entrepreneurship is being forced upon us and barely anyone knows what they ought to do. We don't know how money works or invest it.
We've been taught to work for money and save it--a portion of it. The best we can do in terms of investing is having a crappy pension plan.
Fortunately for me, I discovered crypto. Yet, I was still very much confused and still saw money only as a means of exchange rather than a means to create wealth.
My mindset has changed over the last two months. I am moving from a place of darkness to a place of light. I am moving from just wanting to make money but also investing money.
It is turning out to be a wonderful experience. I have not had to sacrifice so much. It's all about understanding when to delay gratification and when to take action and reinforce your mind in a positive way.
I have realized that it isn't that difficult to change one's life. We can be anything we want to be if we are willing to do the work. Learning how to invest your money is one of them.