(IJCH) PERSONAL INVESTMENTS - IT IS NEVER "DIFFERENT THIS TIME"!

in #blog4 months ago

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Article Snippet: Given that I have seen many Bull and Bear cycles, I say again, "Know yourself. The worst enemy in personal investing is YOU."

IJCH - Inside JaiChai's Head
(Meaning: My Warped, Personal Opinions and Musings)


source

From the Author:

Salutations.

I am JaiChai.

And if I haven't had the pleasure of meeting you before, I'm delighted to make your acquaintance now.

I invite you to interact with everyone, learn, and have as much fun as possible!

For my returning online friends, "It's always great to see you again!"

PERSONAL INVESTMENTS - IT IS NEVER "DIFFERENT THIS TIME"!

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I'm an OG. I've been in the crypto game for A LONG TIME (think of Bitcoin when it was ~103 dollars).

And before that, I'd been an investor in legacy markets since I was 18 y/o.

I retired at age 40.

I'm now almost 59 y/o, collect a military pension, receive annuities from past investments, participate in some disruptive companies and tech markets, and of course, enjoy the crypto space's ups and downs.

My health is good, my MANY hobbies and interests are fun and exciting, and my family is happy.

I've done well enough by my own standards. So, here's my advice to all my online friends:

Given that I have seen many Bull and Bear cycles, I say again, "Know yourself. The worst enemy in personal investing is YOU."

Successful investing is just as much about hard cold numbers as it is how you handle your emotions. During Bull runs, everyone can delude themselves into thinking they are geniuses.

In reality, it's just a rising tide floating even the most rickety rafts.

Are you treating the crypto space like a casino?

What is your risk tolerance and time horizon?

IT IS NEVER "DIFFERENT THIS TIME"!

Risk/Reward is a double edged sword. How much are you willing to lose FAST for a slim chance of winning FAST?

For me, I learned a long time ago that successful money management, investing and trading is based on boring, long-term compounding of consistent input (aka DCA).

I am a stickler for fees. Did you know that a 1% fee over your lifetime eats up 28% of your returns? 2% fees will cost you 56% of your returns!

OK. This post is long enough, so I'll close with this exercise that can be your personal, introspective thought experiment.

Write a letter to yourself now from your 2027 self. Then write a letter back to the 2027 self.

Do they reflect the same hopes, dreams and investment philosophies?

If not, how can you reconcile the two right now?

Submitted for you to ponder in a quiet place.

In lak'ech, JaiChai

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"Really Appreciate You Stopping By. Truly hope to see you again!"

And if you liked my post, kindly Upvote, Comment and Follow.

This is YOUR TORUM INVITATION!

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About the Author:

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Believing that school was too boring, he dropped out of High School early; only to earn an AA, BS and MBA in less than 4 years much later in life – while working full-time as a Navy/Marine Corps Medic.

In spite of a fear of heights and deep water, he performed high altitude, free-fall parachute jumps and hazardous diving ops in deep, open ocean water.

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(image source)

After 24 years of active duty, he retired in Asia.

Since then, he's been a full-time, single papa and actively pursuing his varied passions (Writing, Disruptive Technology, Computer Science and Cryptocurrency - plus more hobbies too boring or bizarre for most folk).

He lives on an island paradise with his girlfriend, teenage daughter and two dogs.

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(image source)

(JaiChai 8-15-2021. Simultaneous multi-site submissions posted. All rights reserved.)

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