willy

Shuoshu Asset Management Co., Ltd

[Edgy - The DeFi Edge 🗡️ @thedefiedge]

Quick story on raising your Life’s Floor

Back in the 2017 cycle, I had a close group of crypto friends.

We were able to flip 6 figures to 7 figures. No, we weren’t geniuses. You just had to be there to know how insane that cycle was.

One of the guys, David, wanted to do something crazy. He was going to cash out his crypto, and buy a house in cash.

Me and the rest of the guys couldn’t believe it.

Us: “Bro, this is like getting in early on Amazon and Google”

And on top of that, interest rates were so low back then.

He explained his reasoning.

David once had a business that was successful. He kept re-investing money into it. Then the business died and he was left with nothing.

After it was all said and done, he had to move back to his parent’s home and start all over again.

His biggest regret is he didn’t take profits to permanently upgrade his life.

“Raising your Life’s floor” means improving your worse case scenario.

So this time he wanted to cash out and buy a house. No matter what his worse case scenario was, he’d be a homeowner. He wouldn’t have to start over from scratch.

What happened to me and my friends? The 2018 crash happened and we round tripped all of our earnings.

David? Pretty sure his home has 4x in value at least, and he’s still crushing it in Crypto.

Hopefully, several of you will make some life changing gains.

It’s tempting to want to immediately upgrade your lifestyle. You’ve had a chip on your shoulder your whole life.

You want to buy the Rolex, the new car, and rent the new high rise. You want to show everyone you’ve “made it.”

But the future is unpredictable - especially in Crypto.

Your first order of business should be to find ways to permanently raise your floor.

• This means paying off debt.

• Buying assets such as a home, or funding your retirement.

• Building a year’s worth of emergency funds.

By doing this, you’re giving an advantage to your future self. If you fail, you’ve given yourself a nice cushion to fall on.

I’ve seen way too many people in this space go from riches to ramen.

I’ve had the supercars, and the watches. You feel the dopamine for a few days and then life returns back to normal.

(think about the last time you bought a new phone or laptop)

Nothing beats the feeling of financial security and the peace of mind that comes with it.

[willy @h6n892]

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