Some quick thoughts: Scramble! You could retire in 5 years

Posted in   Quick thoughts   on  December 15, 2022 by  Money Bren0

Nothing in this article is financial advice. The writer is not your financial advisor. Investing contains risk and you can lose money. Consult your own professionals before making investment decisions. This article may contain affiliate links. 

Let’s start with a story.

Take a look at this screenshot:

I get messages like this all the time.

For most of my friends, I’m their “investment guy”, so naturally I’m the first person they ask when it comes to this stuff.

So here we have, once again, a friend asking me about crypto.

I tell him I’m buying.

But most importantly, take a look at the date.

17 November 2018.

Do you know what the price of Bitcoin was then?

Take a look:

We were about a year into a bear market.

Price had fallen to $5,600 from a high of $19,000.

That’s a 70% fall, and as you can see, that wasn’t even the bottom.

It bottomed a few months later at $3,400.

Yet I was buying.

In fact, it was the only asset I was buying at the time.

I wasn’t buying stocks in 2018. I was actually selling some of my stocks to buy Bitcoin.

That’s because I knew – bear markets are the time to accumulate.

Stocks weren’t in a bear market, but crypto was.

So even though my friend thought he needed “balls of steel” to buy Bitcoin in the middle of a bear market, really all you needed was a plan to follow. The same plan great investors have been following since the beginning of time.

Buy when the market is down.

From memory, I bought crypto every week for all of 2018 and 2019.

Then guess what happened when the market recovered in 2020?

That’s right. My portfolio went up a lot. Over 7 figures.

Right now, I feel like we are in a similar place to 2018.

Bitcoin peaked over a year ago at $68,000.

We’re now dawdling somewhere around $17,000.

And yes, once again, I am buying every week with my “balls of steel”.

What’s interesting to me is, lots of people seem to be doing nothing right now.

They say they’re chilling, waiting until the next bull market.

Waiting until the next bull market?

Do you not see how backward that is?

During the previous bull market when Bitcoin was hitting $40,000, $50,000, and $60,000, everyone was scrambling trying to find some cash to invest.

All over social media, BUY CRYPTO.

People were selling their cars and houses, desperate not to miss out.

But now Bitcoin is $16,000 and nobody’s scrambling anymore.

Ironic, because this is the exact time to scramble.

Want to get your money up? Retire early?

Here’s what I’d be doing right now:

I’d be busting my asshole 18 hours a day scrambling to get my hands on every cent possible. That means decluttering every single thing out of my house, flipping everything I can find on the internet, matched betting like a maniac, driving Uber every spare hour I have on the weekends, building a niche site, freelancing on Upwork, cutting costs ruthlessly, no shopping, no holidays, surviving on bulk-buy groceries, saving every last dollar I can from every paycheck and investing it in assets.

Let’s say Bitcoin goes to $200k NZD in the next bull run (personally, I think it will go higher), and that bull run is going to come five years from now (personally, I think it will come sooner).

That means you will need five Bitcoin to make a million.

At today’s prices, that will cost you around $85k USD ($132k NZD).

If you hustle your balls off, that is extremely attainable!

And even if you only manage to make half of that, or you only want to invest some of it in Bitcoin, you’re still going to end up a shitload richer than you would be otherwise.

Now, the question everyone loves to ask – what if I’m wrong?

Yes, of course, I always reserve the right to be wrong. I can’t see the future. Don’t discount the possibility that I could be completely wrong, all the stock markets around the world crash forever and Bitcoin dies and all your money is lost for eternity. But you also need to ask yourself – what if I’m right?

You’re going to kick yourself for spending 2022 and 2023 sitting around doing nothing, when right before you was the opportunity of a lifetime.

See you at the bottom 😉

Build Your First Million

My free net worth tracker that I use daily is available to you, for free.

I'll show you to track your net worth, and grow it!

Just enter your email below and I'll send it right over.

Leave a Reply

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}