Sad fishy investing

We just arrived back home from our night away on a boat and our daughter went down to sleep pretty easily considering she slept for an hour in the car already. It is about 3 hours past her bedtime though and last night it was around midnight that she fell asleep too. Sleeping rhythms might be a bit out of whack for a few days no doubt.

One surprising thing happened during the trip and that is my wife's nephew asked me about investing into crypto and by the look in his eye, I am being very wary. Of course I am going to help him, but there was that "quick money" gleam and I will try to make sure he doesn't fall into the trap that so many others do - there is very little quick money in this world.

I don't want him to end up a sad fishy.

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Interlude:
My wife was getting something from the car and an old drunk guy just attacked her outside our building and I went out to have a word. My mood has changed a little since 3 minutes ago. Finland is a cesspit of bad drunken behavior accepted by culture, but I don't play that shit.

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Where was I...

So... The problem is much like this guy explained where his friend heard that Bitcoin was going up, put all the money he could into it and then watched it fall and he "lost everything". First rule, don't ever invest what you can't afford to lose completely. Sad fishy otherwise.

People his age are looking for shortcuts to wealth and rarely do they couple their aspirations with a healthy understanding of the work put in or temper it with risk modeling. It is easy to say, "I know it is risky" before the feeling of losing 90% of the value over the space of a few months hits. I have tried to explain the volatility briefly, but I will get into this with him later. Watching the markets drop by 30% just after buying... Sad fishy.

He is working hard and getting paid "okay" considering his age and his girlfriend is working too, but they have just both moved out of home and are a young couple looking to have a life, as they should. This is why I suggested that he puts a small amount away each week or month that is his investment money and make sure that whatever he spends it on, it is something he believes is going to go up in value.

I tried to explain to him in basic terms how debt works and how it traps people in and I will explain this further with him later but, I hope he understands it enough now. I also used the question, how much have you bought in the last year that you expect is going to go up in value? The answer for nearly everyone in this world is; nothing and he was no different.

I don't know how much you hold in investments or ho old you are, but imagine being able to go back to being 20 and putting 5 or 10% of whatever you earned into some kind of investment that you expected to increase in value. Some might be traditional low-yield, some might be in more high risk or startup and crypto areas but, you would likely be better off for it. Not only would you probably have a higher worth, you would also have a much better understanding of investing than most people and have a habit that facilitates the investing mindset o powering up.

Unfortunately, too many are sad fishies.

It is going to be interesting to slow down and spend some time with him and I am of course going to onboard him to Steem, but I am going to also teach him the things that I didn't understand when I first started, which is everything.

This industry is expanding rapidly even though most people in it think it is running at a crawl and it is funny to hear someone say, "It is probably too late to get into crypto and make a profit" without that person understanding the tech, the possibilities, the use cases and just how few people are currently "in crypto" today.

When is too late?

I don't think there is a too late because not only are there going to be so many people coming in, everyone is eventually going to be in and there is still going to be opportunities, just like there are opportunities in this world now to start up and invest into new businesses all the time. What I do believe is that those who are actually going to be able to take advantage of blockchain and crypto industries will be similar types of people who are able to create and take opportunities now.

There are many opportunities but for most who look for quick money, they are likely to be sad fishies along the way as either they will sell early or get burned in FOMO at some point. Perhaps it is a good lesson to experience it a little at least, but again, don't invest what is needed to live upon.

I will finish it up here as while my mood has improved a little, my head isn't where it should be. On a happier note, my daughter is awesome and when asked what two soft toys she wanted to choose from a large selection on the boat, she chose a dachshund she called "Riski" (we have a dachshund named Viski) and the fish she called "Kala Karvonen" (Fish hairyish). In her games with them, the fish cries a lot and she tries to cheer it up so it isn't always a sad fishy.

Well, it is very late. Time for bed.
_{I promise to catch up with the comments I have missed over the last few days tomorrow.}

Taraz
[ a Steem original ]