I was the guy that sold his rentals for crypto. I was the guy who sold his 401k for crypto. I was the guy that thought he new everything and said “2021 100k”. looked like he was about to end his life when his life savings went down 70%+. I was the guy that saw everyone disappear when the prices crashed. I was the guy who made crypto friends. I was the guy that people think is mentally ill (they probably have a valid point).As a side note, this is not my first ride. I got very lucky in real estate.
many of you have or will jump socio-economic levels. For some, that means having a few months of savings. For others, it’s having a reliable car. For others, it’s going from a little to having millions.
I started my career in 2007. I met a guy who had 10+ houses and lost all of them. I met a guy who spent 600k (today’s value 1+ mill) on a backyard remodel-and then lost the house. I met a guy who making $300k in his 20s (today value 700k when factoring in taxes) and walked away from that job because he thought he new everything. I met a guy who had a ferrari and 3 condos at 34 and at 42 has a 2 bedroom condo. The guy who got me into crypto bought at $2,000 and can never rebuy his position. EVER. My close friend went from making $7k a month to $50k and doesn’t own a house (not crypto guy). He thinks the money will never stop–I hope he is right…however…
They all had the same three qualities: they were smart, they were hard working, and they had made too much money/too quickly. The result was blinded judgement.
I implore you rather than bask in your wealth, first:
Buy a small house with a very small mortgage (the kind you could pay, if needed, if working a minimum wage job).
Get solar -pay cash. Get electric car that’s used-30k miles or less with a warranty. Pay cash. Set aside taxes for 10 years and car maintenance for 10 years.
You now have no electric bill, a house bill that Is easy, and no “gas” bill. you are protected for at least 10 years.
Give something to someone that matters. Maybe it’s a used car for your struggling friend. Maybe some charity. Do something.
Be very, very careful advertising wealth. It’s natural to want to show off. It will attract often the very worst people you could imagine.
submitted by /u/Tryingtodoit23
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