🔥… not really caring about the tech
🔥… having lost tons of cash early-on
🔥… not really being investment minded
This would have continued to be the case until I understood a very basic principle in investment called Dollar Cost Averaging (DCA).
Simply put. Don’t try to find the bottom price and invest big once. Rather, invest in smaller amounts consistently to get the average market price between two points.
Easier said than done. It takes:
- Understanding you’re not in always control
- a level of blind faith
Having benefitted from this in the crypto world. I thought - DCA approach can be applied to most things…
… for example
Option 1: Go hard - invest all of your life savings into one thing and hope it goes well i.e. MBA
🔥 OR 🔥
Option 2: Make smaller but more consistent investments into Personal Develoment
Yes, Option 1 potentially offers a greater return at a significantly higher risk.
But man, Option 2 means you’re not glued to charts you have no control over every single minute of the day - while still getting some juicy upside.
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