Hi everyone. Today this article will be a little bit different compared to the ones I use to write. Indeed, I think it will be useful in order to understand better what we are aiming for and why we have invested in cryptocurrencies and why we are involved so much in this domain.
I've divided this post in two different parts :
My personal goal(s)
Goals you could pursue
Why did I invest in the crypto market ?
I am not going to lie, it was a financial investment. So, per definition, my main goal is to earn money, to make my portfolio grow bigger and bigger.
But how much to grow ? What target do I want to reach ?
First, I'm pretty young. I'm pretty lucky because even as a young student I have no problem with money and I'm not counting every cents that leaves my wallet. However, I can't invest five-digit amounts of money in crypto as I do not have any permanent job. I only invested 500 € one year ago and 500 € one month ago. A total investment of 1 000 € which is not that much but I think pretty decent. I'm telling you about this because I think you need to fix objectives that are possible to reach following the amount of money you gambled.
As I like the passive income a lot, my first idea was to reach enough money to be able to provide a contribution in buying real estate. I'm still more or less following this idea but I'm already thinking bigger than that as I'm documenting myself more and more in crypto and really believe our wallet will go much higher. So, rather than having enough money to provide a contribution, why not having enough money to purchase it without making a loan ?
Maybe I should clarify that the goods would rather be an apartment than a house, at least that's what I think at the moment. With an apartment, I'll be able to have a monthly rent or I will be able to live in it and not to pay a rent for somebody else. I see both advantages and drawbacks in this operation. Indeed, in my opinion, it is more secure to own real estate than owning cryptocurrency. While some coins can lose 80% of their value or even more, I don't know any apartment or house that can lose so much value. However, the yields are not the same, they're higher in the cryptocurrency market than in the real estate market sector. There are so many taxes in France (my country) to pay that it is barely around 10% for the best goods. While in crypto you know better than me that the yields can be really much higher.
To be clear, I invested in crypto in order to change my life, even just a little bit. But rather than just purchasing only one property, why not buying several properties ? Of course, the sum to reach with cryptos is really higher and it will be way more difficult. And by thinking almost every day about it, I've even wondered about another possible plan.
When I'd be able to purchase a real estate or provide a contribution for a loan, I'll dot it, but I will keep cryptos on my wallet in order to be diversified in my investments. With time, I'd like to become financially free and geographically free. I think if it happens and I hope it will, it will be due to cryptocurrency or at least partially due to cryptocurrency.
What is your goal ?
I think it is important to fix objectives in our life. People who doesn't have any goals in their life are spectator of their life. With no aim, you're waking up every day with the same routine and you're not pursuing any dream.
How to fix your goal ?
My personal goal is basically what I really want most in my life. Yours should also be what you most desire. Also, and it is pretty important, try to fix high objectives, even if it seems unreachable, because "it is by aiming at the moon that we reach the stars". Let's suppose that you want to become a billionaire, even if you didn't manage to, you will probably manage to earn 100 000 $ or more.
If an athlete goal is to earn a world record and trains a lot for it, he may miss. But even by missing this insane goal, with hard work and rigor, he will probably become a huge champion. That's why I also think it is not only important to focus on the "finish line" of your goal but the whole road you have to make to achieve it. Sometimes it will not be easy to pursue your dream, but if you zoom out and check the road you've already made, then it will give you the strength to continue what you're aiming for.
I'd like to know more about what is the real goal of your life and how crypto could help you to aim it, so tell me more about it in the comment sections.
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