“10 years I will be happy”… are you truly prepared? for COINBASE:BTCUSD by KML6

To all young and new investors, this is worth a read.

When chasing dips, it is vital, to be honest with yourself and your future. Next time you hear someone tell you to hold for ten years, ask them if they have ever held a stock for ten years? Ask them if they truly watched something go negative 50%-90% and held for 3-5-10 years?

Most importantly, ask for proof, funny how when someone buys anything from a vendor, trust and proof of goods are always the main concern. Let’s pretend you bought a product on your cc and never received, thankfully a fraud claim is relatively straightforward. What if your bitcoin value drops to 10k… no fraud claims, no one to call, no one will feel sorry/no one cares. If this caused any feeling of worry, then you have too much invested and are over-exposed. You are speculating with more than 10% of your portfolio/wealth.

Not many have the courage to protect themselves and ask to see the proof! We all have people we know close to us we could ask to see, but not many do. Experienced investors, business owners, brokers, etc., most likely have a “do not trust anyone mentality” for strong reasons.

Always think and try to picture yourself in five-ten years (very hard)

Will you have a family?

Will you be trying to start a business?

How nice of a house will you buy?

Do you have a partner living with you?

Have you taken all legal steps to ensure your assets/portfolio are protected if this relationship does not work out?

I will give a personal example from my portfolio over the last two-three years.

2017/18 Cannabis stocks were surging. Everyone was getting so “rich,” etc. I know how hard it is to fight greed and made sure not to overexpose and maintained a comfortable speculative 10% for myself at the time. Fast forward two years, major drops everyone hates the industry/selling for MAJOR LOSS. While maintaining the 10%, I continue to add to all my holdings when everyone has lost hope. As you can imagine, I am happy with this level of discipline now. The problem is the same group who lost 50-90 percent are now entering back into potential tops… Practice this discipline and try to do your own research and not read the news. You must also realize your portfolio will grow with you, and 10% speculation will become larger as you grow wealth into whatever your journey entails.

To become the person you want to be an important step is being honest with yourself. If 10% is only $250 so be it! Never get discouraged and always remember every big portfolio/business started young, scared, and broke. In the future, this might become $2500, $250,000, and so on. The lessons you learn at $250 regarding patience and discipline will not only give you confidence in the future it will become so much more valuable in every aspect of personal/professional life. If you have the passion and enjoy every aspect of the journey and practice discipline with yourself, I have every ounce of confidence; you will grow rich and very wise.

As always, it is not easy come easy go.. only EASY GO. Protect yourself and worry only about yourself and your current situation/portfolio. As with every career/journey, your opportunity will come with investing, and the more discipline you practice will allow you to have the “loose powder” when this opportunity shows itself. Be proud to be the turtle and sit back and watch all the hares play with leverage and a major risk. The same hares in ten years will be holding massive debt/remortgaging/etc… a big opportunity is out of the question for these guys now. But the turtle has been patient and saved, and he will prosper.

Some friendly words from a true turtle/cheapo. These ten years will go by so fast, and believe me, I have seen a lot of hares crash and burn. Always remember opportunities might be not related to investing…. you will be very very happy when something great shows itself and in ten years you can go for it because you are a turtle. Good chance the hares might even work for you ;).

If this message helps even just one young guy reading this is my goal.

Good health, Good wealth, and best wishes to all fighting for their future! KEEP MOVING FORWARD!

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