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10 Lessons: Time and Hard Assets are the Golden Threads of Wealth rise
Time: The Golden Line of Wealth Rise
Wealth comes in many forms, but they all share one key element: time. As long as you manage it with care, wealth will continue to rise and generate compound interest. In the crypto space, it is essential to pay extra attention to protecting assets from losses.
Here are 10 pieces of advice based on personal experience, true and reliable:
1. Invest in hard assets early
Hard assets possess scarcity, high demand, and are difficult to replicate. For example, the prices of gold and Bitcoin have risen significantly over the years. Income from work is hard to compare to the wealth accumulation brought by investing in hard assets. It is recommended to invest spare money in hard assets, including index funds and high-quality real estate, through dollar-cost averaging. Holding them long-term will surely yield pleasant surprises.
It is almost impossible to accumulate significant wealth without investing in hard assets. Even small investments can lead to significant changes in the long run. Do not procrastinate; make a plan and put it into action as soon as possible.
2. Do things with growth potential
Examine your skills and interests, envision a large audience that can see your content. Even if only a few people recognize your value, it means you have a certain scale of supporters.
Dare to try new things. Only by taking the first step can you discover potential surprises. Persist in daily output and give it your all, and there will eventually be breakthroughs. Once you earn your first money online or gain income through entrepreneurship, the door to success will open.
3. Personal development determines wealth level
The current level of wealth reflects the degree of personal development. Therefore, individuals who suddenly acquire a large sum of wealth often struggle to manage it properly.
Invest actively in yourself, utilizing online resources and artificial intelligence to learn various knowledge. Improving skills through practice and continuous progress will ultimately lead to transformation.
4. Moderately Overestimating Self-Worth
It is important to maintain a positive feedback loop. Assessing your own value slightly higher than the actual level helps in the continuous pursuit of progress. Even if current achievements are limited, you must believe that you will ultimately make a difference. This mindset can have a significant impact on the future.
5. Money is not everything
Although you can buy gold or Bitcoin, you cannot buy a home or a real "house". While pursuing material wealth, do not overlook the things that truly matter.
Not establishing a family or cultivating meaningful relationships can have serious consequences. Material wealth often has no meaning if there is no one to share it with. What people cherish are various experiences, and some of the most profound experiences are actually nearly free.
6. Overcome fear and try new things
Fear often hinders us from trying new things. However, it is crucial for personal growth to engage with new experiences. Do not label these experiences, but rather view them as opportunities for growth.
During this cycle, success and failure will alternate. If excess funds are invested in hard assets, each fall will start from a higher point, and the rise will be faster.
7. Learn to Reconstruct Yourself
Beware of the limitations that the environment can impose on personal growth. As you continue to grow, the factors that bind you will gradually become evident. At this point, a choice needs to be made: break through the limitations or give up and turn back? This could be the key to wealth.
8. Avoid the Traps that Decrease Wealth
In the cryptocurrency field, altcoins are a typical wealth trap. Buying altcoins means missing the opportunity to invest in Bitcoin. Similarly, choosing consumption over investment can also lead to significant opportunity costs.
Rationally view consumption and investment, and be wary of lifestyle inflation. After acquiring a certain amount of wealth, maintain a low profile, avoid flaunting, and be cautious of ill-intentioned people.
9. Persist in holding hard assets
Exchanging Bitcoin for altcoins is a major taboo in cryptocurrency investment. In the long run, this practice often leads to significant losses. Even if there are occasional short-term gains, this situation has never been sustained from a long-term perspective.
Another issue with selling hard assets is the difficulty in finding better investment options. Make sure not to exchange hard assets for inferior assets. If you must do so, strictly control the risks and ensure the potential returns are sufficiently high.
10. Be Prepared to Respond to Attacks
Success often attracts unscrupulous individuals, whether in the cryptocurrency field or other areas. Even if one is not a public figure, they may become a target of attacks, as data breaches can occur across various platforms.
Be sure to carefully protect your personal information and assets. Never disclose your mnemonic phrase, even when faced with seemingly trustworthy requests. After succeeding, act low-key to avoid becoming a bigger target.