Invest - Compound - Retire
Probably for most of us, the end goal is retiring from our day jobs. Some of us have done it already, others like myself are still on their way. Not all of us will make it, especially not those who are panic selling every time there's a market correction. I didn't sell too much on the way up and now I'm left with bags that are far from their all-time highs. Although I could have done better, I'm grateful for these lessons.
Not only have I invested my fiat into crypto, but I've also spent a lot of time reading and educating myself about the countless opportunities that the crypto industry presents us with. The more knowledge I gain, the more confident I become that we're on a brink of global change that will result in a massive shift of wealth. Even if we slide into a bear market, I'll keep compounding my investments until we are back in the bull again.
It's not just money that successful people invest. First and foremost, it's time. Yeah, you can throw your money away randomly in hundreds of projects and hope that one of them grows to a billion-dollar market cap but that's just pure gambling. To achieve the end goal, you must be willing to do more and spend time doing that.
86,400 seconds. That's what you get in a day. Will you spend them contemplating on your past mistakes or will you move forward and work your ass off to succeed? It depends on how strong your willpower is and whether or not you can develop a positive routine. If you're already doing it, congrats, you're on the right path!
Spend less than you earn. It's the first rule of the money club. And it's the only way you can save fiat to invest in a project of your choice. You can also invest it in yourself in various ways, for example, by buying a gadget or a thing you need to earn more than you're spending. That's how you get that filthy fiat into crypto.
Sleepless nights and hours staring at the screen are not healthy. If you're in crypto, you've probably dealt with this. Many don't realize that their actions have an impact on their health, both physical and mental. Having all your savings in crypto or a big leverage position can mess you up for good. Take care of your health by having a strategy and maintaining it!
No matter the way the market goes, compounding is a must if you want to accomplish your main goal of financial freedom. When you have chosen a project, you should stick to it and add more whenever you can. Whatever the amount of your investment is, compounding is what makes it bigger. One coin a day results in 365 coins after a year. If you're a DeFi user, you probably know a lot about compounding.
Since day one, I've been farming CUB tokens in various pools, and I don't plan to stop anytime soon. The more CUB I get, the more I can add to liquidity pools, the bigger my gains are. Pure and simple.
Yes, the price may go down in short term but I'm confident that CUBs won't disappear anywhere because of the great community of Leo and Hive users. Whenever it comes back up, I'll have a pretty nice amount of various crypto assets in the pool.
Now that CUB kingdoms have launched, I've staked some CAKE to earn both CUB and CAKE tokens. A great thing about Kingdoms is the auto compounding built into the smart contract. Lovely, isn't it?
Another platform where I've invested in is Thorswap created by RUNE. You all talked about it a half year ago and it made me buy some of the RUNE myself. Thanks a lot - it turned out to be one of the best investments I have ever made. Almost all of my RUNE tokens are now in various liquidity pools on Thorswap where earnings are automatically compounded.
I'm also bullish about RUNE because they have all these projects coming out. Imagine if some of them airdrop tokens to RUNE holders or liquidity providers? That would be awesome!
I joined this one because I participated in an airdrop and got free tokens to play with. Instead of selling them, I decided to get into my first Fantom project. Fantom blockchain works just the way Ethereum, BSC, Matic, and others work. You can easily add the network to your MetaMask wallet and start adding tokens to various pools.
This one is still in the making but I believe that it's going to be awesome. A DeFi project of one of the fastest-growing crypto social networks all around the internet. Pretty soon, Torum will release XTM (their native token) on the market and the real growth will start. Take a look at my blog, I've talked a lot about Torum and why it's going to be big. Recently, it crossed 50 thousand user mark and as the token comes out, there's nothing to stop Torum from becoming a place where all crypto folks meet each other.
The last couple of weeks have been harder than ever when it comes to compounding and staking my LEO tokens. It's actually because of CUBs and me wrapping all my earnings to bLEO so that I can put them in a LEO - CUB farm on CubDefi. Now I have started to power up again so that my upvote gets bigger and I can reward other users with more than 0.1 LEO.
What does it mean for you to retire? To me, it is leaving my day job and being able to live off of my investments. It's not about retiring from crypto and investing. It's the opposite - the less I have to do other things, the more time I have to make it in crypto. The investor mindset is real but it only works when you work your ass off doing the little things.
Why would you want to fully retire from the thing you've been mastering all your life? Once you get it going, there's nothing to stop you. I'm here for the long-term. And I'm ready to crush it! Just like all of us, right?
Right now! Stay away from the noise in the media, keep learning, compound your gains and experiences, and get better with each passing day. Engage with others, learn about different communities, and become a part of at least one. I'm in a few places to get the word around about @bagofincome and I'll keep grinding, hopefully, forever.
Just keep doing the stuff you love and bring it to the blockchain. I'm doing it by writing on leofinance which is built upon HIVE. Therefore, my word will remain on the chain forever. The more I write, the better I will become, the bigger my stake will be. One day, one block at a time until one day I can look back at this post as the beginning of what turned out to be an adventure of a lifetime. Who knows? But remember:
To Conclude with a Request
Thanks for reading. It would be awesome if you shared your favorite crypto projects in the comment section. Leo folks always know what's up. Tell me, what have I missed and need to research. Thanks!
Peace, your @bagofincome
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