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6 years ago in #lessons by rok-sivante (77)
$17.76
- Past Payouts $17.76
- - Author $15.12
- - Curators $2.65
109 votes
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@rok-sivante, In my opinion our life is so simple but we made it more materialistic and more fast, just because some had the thought to increase the pace of everyone in the name of Development. And i personally not showcased so much excitement and affection towards money that much because my Spiritual essence always guide me that, this piece of paper is not hold by you, so hold how much you need.
But, it's the truth that Finance and Finance Management is really important in this world and that is because if we to access the resources and services we need money, so we have to well prepared for the unforeseen situations, and always we have to understand one thing and that is, always we have to live our current in a way that how we want to see our future.
And in my opinion many people get excited when they get the huge Financial Surprises. And sometimes over excitement can lead us towards the losing side and that is because when we stay in the phase of over excitement then we cannot analyse the situations in all aspects of situations.
So, first of all we should know what are our needs because when we know what we need then we know how much we can save, and when we know the art of Saving then we can become the wealth creators by investing saved money in assets or keeping it in liquid form in the phase of rough times.
But the truth is, we will get the experience when we face it and until we will not attempt mistakes then we cannot get the lessons so we have to have clarity in life and if we do mistakes then we should take the lessons from it so that we should not repeat it.
Wishing you an great day and stay blessed. 🙂
We keep learning every time. There's one saying I usually keep in mind, "If one fails to plan, he plans to fail."
Plans; foundation - Those are the most important things. I made some error in judgement during the last moon period I regret too. But, I took it as lesson.
Your last tag really shows how you feel - "shitfuckdamn", I still feel so at times. Reading more about finances may help calm you down, I write what I know most times (it helps me clear my mind).
Amen.
The hashtag... lol. Not that bad, I suppose. Life goes on. Still many blessings to be grateful for, and better prepared for the next waves ahead now... :-)
Going through the same loop and it is never ending. It was January when I was rich and now I feel I was just stupid. My mother has a better sense of market. She told me to withdraw profit and keep original invested money with the project as in to support it. What an idea!
LOL.....
I resigned my job in the month of January because I wanted to spend time while looking at my wallet multiplying my money by itself....but dream didn't last longer. Hopefully, I am going for an interview tomorrow. Indeed, this time is tough but the most important thing is to learn how to handle it....
Elon Musk
Before getting into real business, Musk was not able to perform properly. He was afraid of his loss. He was afraid of loosing his comfort and he was afraid how is he going to survive if worst happen.
To overcome this fear , Musk lived in a small cabin with minimal resources and almost no money. He wanted to tell his mind that he could survive even if everything went against him. He survived the most infectious pesticide "Fear." This incident changed his perception of life and now he is one of the most aggressive risk taker.
There is difference between surviving and fearlessly surviving. Former is prey, latter is predator.
Motivation sucks every time but, these experiences of rough roller coaster journey are going to stay for long, so I think we both have a clarity of vision what to do if crypto roars once again ;-)
There are times when mom knows best... :-)
Not a bad strategy - deliberatively obliterate the comfort zone, so as to kill any fear of the loss... smart. 😎
There is a particular saying in India " not easy to digest money" i can relate the sitiation with it sir, @rok-sivante the more we get our appetite keep increasing and simultaneously the extra usages . we started to belive it is a continois flow, and in persuit forget nothing is permanent in world.
The best way to manage the money is to spend and get bit extravagant above your breakecen point. I.e where your needs meet first.....no worry sir time wil change and will get to see some sparkling time in coming days.....enjoy Sunday👍
good post and thank you for sharing your experience
Hi rok. I feel for you as I have never had wealth. I think it is harder as you once had it. Hoping the markets rebound quickly to take the stress away. i am sure you will be more careful next time as you will get a second opportunity luckily. They say money makes money but you still have to be careful once you have it. Holding thumbs that it changes your fortunes quickly and all gets back to normal.
I think to create the structure for sustained wealth, one needs to invest. Monies gotten from one investment should be plugged back to other investments.
I call it layering or stacking. I always sequence the returns on various recurring revenue streams and also stack the gains from asset appreciation. That way I'm always both leveraging previous gains and also building towards not needing to touch that principle to cover ongoing living expenses.
Exactly.
Thanks for pointing out, really good points to have in mind, didn't even think about it! Very easy to loose control when things going perfect and dont have to work on math very hard on monthly basis. I guess, got to stay focused all the time!
This couldn't be more spot on
I was born in another upper middle class family and somehow we've gone from building houses and buying cars to not even having $150 to repair our broken down generator... All in the space of about 10 years
I've vowed not to make the same mistakes my parents did, but am afraid my management skills are still quite limited
Am sorry about your portfolio man, must be rough but this too shall pass
You will surely bounce back
I'm feeling a lot better about that ten grand I'm down. Although, I learned a ten thousand dollar lesson that will pay dividends for the rest of my life.
fair price to pay for the wisdom you've been equipped with. and if you pull everything out - or invest back in at the right times - shouldn't take that long to make it back either... :-)
Can't possibly imagine how you must be feeling Rok, only thing I have to say is YOU WILL BOUNCE BACK
Am sure the lessons you've learnt now will be fully implemented at that time...so please don't get yourself down
Nah. Just needed a moment to vent, and figured I'd kill two birds with one stone and pass on some lessons. still doing well considering I started at nothing, so onwards we march... :-)
Oh...cool then. In that case venting is healthy
I don't know if you've been following my recent mini-series on "what the rich are taught about wealth that the poor and middle class aren't" (not really named that, but the point), but this is sooo in sync with that.
As I think you know, nothing has gone wrong. This is HOW you learn if you weren't raised by parents who knew how wealth works and who bothered to teach you.
I grew up poor, so have many, many such examples of "learning from experience." I've lost a million more than once! Yet we keep learning, and hopefully we teach what we learn as we go.
I can recall in college the wealthy kids around me literally trying to hide financial knowledge from me whenever they realized that, "My God, she actually doesn't know this!" Well let's do the opposite. Let's shout it from the roof tops.
amen! 🙌
Hence, why the share. Semi-embarassing to admit. But I'm willing to surrender a bit of ego, should the lesson help out even one person...
Hindsight they say it's 50/50. But since life is a lesson, we all learn; sometimes the hard way makes more of an impression. I think we are now at rock bottom price (at least I'd like to think that we are) that the only way to go now is up. I saw some experienced traders saying we should take some profits during that peak period. But I guess some of us were all chasing the next high that we did not really pay much attention to that. Experience had yet again proven to be the best teacher :)
Money management is all about mindset and the number does not differ and you always need to be realist on your approach.
Glad you told your storym you were humbled but you took something out of it. Wish you lots of success in your future.
Maybe I can't get more, as you say. Maybe I can't manage it :)
I was motivated when reading your writing, you said you were embarrassed because you had to borrow money from your wife. You don't have money even though it's $ 50. now you have risen again, hopefully I can also follow your success @rok-sivante !
I’d say, abandon that hope, because you can’t.
No one can.
You shall have your own success, just as each individual shall have their own unique success... ;-)
Amen, thank you for your good prayers.
Success is always for you too @rok-sivante
This is a very powerful word indeed, but I do not totally agree with you.
I think its an extra bonus if you see someone making a mistake you would have made, so taking same act and making same mistake is kind of very foolishif I'll say.I'm not sure if you believe the word that says, "Whatever would be will surely be" I'm not disputing the fact that, the inexperience to manage your wealth will only lead you to mismanage it, but sometimes things just don't work the way we think it would, You can decide not to pull your profit from Crypto when it rise because you think it hasn't gotten to the stage you want it too, and you'll be lucky it will eventually get to that rate, and may possibly not get to it or perhaps reduce.
To me I'll say this thing is logical, you can't absolutely predict it, having the ability to manage it when it's in your grasp does not mean you'll do, risk also has it's part to play...
It may be true that you could have avoided it, but you won't, because that's the way it's meant to be at that moment in time and that fact cannot be changed, so don't blame yourself too much... Just believe somehow someday another opportunity will come... And you will not make same mistake that you made.
How Are You @rok-sivante I like it this post Thanks