Every Sunday I like to write about 3 random thoughts that are on my mind.
Sometimes these thoughts are about business…
Sometimes they’re about money…
And other times they’re simply about life in general.
With that said…
Let’s jump into the first thought on my mind this Sunday morning.
1. The FOMO with crypto is real
A few days before Christmas, I finally jumped on the crypto train and put about 5% of my portfolio into various cryptocurrencies (mostly Bitcoin and Ethereum).
Since then, they’ve both exploded.
And I’ve already doubled my investment in less than two months.
However as amazing as that is…
It’s hard to not focus on some of the other coins that I missed out on.
For example, I was going to put a little bit of my investment on Cardano when it was 21 cents.
However Coinbase doesn’t allow you to buy Cardano for some reason.
So I never bothered to setup an account on a different exchange to buy it.
Well as of this morning, Cardano is worth about $1.10.
So it’s 5.5x what it was when I was gonna buy it.
Which is maddening.
And there in lies one of the issues with crypto.
The nagging fear of “what could have been” is brutal.
And this is despite the fact that what I did invest in has done REALLY well (I even hit some big wins on a few smaller coins like LINK and UNI as well)
However I still keep thinking about missing out on Cardano.
This whole thing has made me realize I’m glad I’m only doing this with 5% of my portfolio.
Emotionally I dont think I could handle doing this with more money at stake.
My nature and the way I think are better suited for boring investments like index funds.
I basically check those twice a year and never think about them.
Some food for thought if you’re into crypto…
Alright, let’s jump into my second random thought of the morning.
2. Most people are woefully unprepared for any type of crisis (including me)
The huge storm that hit Texas this week was a real wake-up call to a lot of people…including me.
I lost power for 4 days…
My hot water heater broke…
My pool pump broke…
I had no way to cook food.
Grocery stores were all closed…
The whole thing was a mess.
And like I said it was a wake-up call.
I did have a good amount of food stored that I bought at the beginning of COVID.
So I had a bunch of meat…
And bottles of water.
However other than that, I was not prepared.
And neither were most people.
But because of this, I’m probably going to stock up on a bunch of stuff like generators, gas griddles, food, water, solar phone chargers and more.
You never think this kind of thing will happen to you…
Until it does…
Then it becomes real.
There’s a lot of marketing lessons in there as well, but it was eye-opening to see how helpless most people were when their power went out.
Alright, let’s jump to the last one…
3. Some wisdom from my 37 years on earth
My 37th birthday is coming up soon (March 1st).
I’ll prolly do an email sharing 37 things I’ve learned in my life to celebrate that day.
But one thing I’d like to share with you now is something that’s been on my mind a lot lately.
And that’s the idea of letting things come to you.
This isn’t to mean you’re not ambitious.
And that you don’t go after things.
But one thing I’ve done in my 30’s a lot better than I did in my 20’s is not RUSH to make things happen.
In my 20’s I was so anxious to make things happen.
And it’s not really conducive to getting results.
Cause you try to force things…
And you’re uptight about everything…
Money doesn’t respond well to that.
I’ve noticed money responds a lot better if you let things come to you a little bit.
I know that might sound a bit strange…
But if you’re always pushing…
If you’re always in the mindset of “I have to make this happen”…
You’re actually making it a lot harder on yourself.
I don’t have a better way to explain that.
But it’s been true for me.
The more I’ve relaxed and let things come to me, the more money I’ve made.
Just something to keep in mind…
Hope you got a good nugget out of one of these.
Cause that’s all I got for ya today…
Enjoy your Sunday.
– Justin
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