Crypto, ideas of financial Independence-things I've seen

I think MANY people will (or already) have experienced life changing wealth. I think many are/or will be at risk of losing of it and then some. I don't know you and you don't me.

Before you consider me an old man that doesn't get it or fears risk, I sold my houses for crypto. I'm pretty degenerate with risk taking.

Let me take you back to 2007.

I've started my corporate career and a lot of guys start showing up who have left/had their jobs disappear at mortgage companies. Things feel great. Deals are easily done (I don't work in mortgages btw) and everything seems good. 16 months later financial hell on earth. Things I saw then and along the way (including last year):

A 31 year old guy who loses everything including 12 houses (including his primary).

A mortgage guy who had a Murcielago and did a 600k house remodel for a backyard end up with $10k. After making $800k in 2007. That's like 2 mill today. In a year. Ends up with zero assets. No retirement. Nothing.

A guy recently lose a company that could be sold easily for $3 mill become worthless because of excessive risk taking

Had a friend who bought 3 btc for $2,000 each sell then at $8,000 due to drug issues

Guys making 200-300k over the last 5 years actually end up poorer than people making 100k because they take zero risk/stay in cash

Having friends who had every reason to buy a home but waited till 2020-2021

Guy go from making 7k a month to over 50k literally spending 90% of his take home money

So back to present day. Many of you are going to make it. I hope this can help you make it to the finish line:

1. Pay your future self first. I don't care if that means owning a small home outright, putting some btc/eth/sol in a long term wallet you don't touch for 10 years. Pay your future self first. Get in the habit. Even if it's $50. Get in the habit.

2. If people know you are in crypto and ask you how much you have, tell them 10%. If you have $250k, that means you have $25k.

3. Lifestyle inflation will destroy most people. I know people that HAD to have the big big big fucking house. It wasn't enough to have a BIG BIG House. They needed the huge one. It destroyed their crypto position.

4. It's very easy to justify luxury debt payments when income is high and assets go up. An electric paid off car + solar paid off means nothing if you are making a lot of money or your account is going up a lot right now. It will mean a lot during down times.

5. Your goals are not the same as others, but I think for the majority freedom at a younger age is more valuable than really rich at an older age.

6. Push yourself harder to get more assets when you are younger. Not leveraged assets. Assets you own. I've never met someone who said "I really regret owning several houses outright".

7. Even if you hate your day job, if it pays well, keep it. you can have great investment ideas but they are meaningless without capital.

8. Understand most people -I'm talking like 90% or higher-don't really get what is going on. This includes maxis of any chain who put 10% of their net worth in said chain.

9. Probably should be #1. Do not equate rich with famous. I see a lot of people strive for money because they want attention. Be rich, be anonymous. Being know for $ comes with great danger.

10. I think the easiest hack is take whatever lifestyle you want and minus one rung AND live a lower lifestyle. This will speed things up tremendously.