Second time to financial independence

Always keep track of your financials
Everyone fails from time to time at something. The good part is that you will definitely learn something, even from an accident. But you need to have some patience and look back at the event and make sure that you take responsibility for what happened. Obviously, it would be much easier to tell yourself that it wasn’t your fault, denying is so simple, but why lie to yourself? Instead, acknowledging your mistakes and learning from them is the best thing that you can do. It’ll also help you cope better with failure because it gives you the feeling that you still got something valuable from it.
You’ve probably heard this before:

Don’t do the same mistake twice

Who would actually want to fail again and again in the same way? That’s madness but we’re usually oblivious to the mistakes that we frequently make.

On another hand, there are mistakes that cause us so much pain that we get out of the comfort zone and even make a 180 degree turn. Yes, you probably know them well, the kind of mistakes that make you lose a lot, maybe even everything you had: family, friends, home, car…

It’s always ironic how life gets us from the peaks of success to the bottom of the ocean in the blink of an eye. Some will accept the result and live with that for the rest of their life and there are others, the determined ones who will fight back.

I heard someone saying that this kind of big failure should be called a seminar. It took me more than a day and I kept on thinking about that word and what a great label it is for something so important. It means that you can learn so much by going through a “seminar”, you just have to take your time and to look back at how it all happened.

My seminar

I’ve always tested out things to see if they work or not and that allowed me look into new fields of work. This was fun for me to do because I used to have some free time and I always thought that the best way to learn something new is by trial and error. By doing this for a period of 10 years, I managed to gather lots of knowledge and experience. It was also financially gratifying because I was able to make some pocket money.

However, one day I stumbled upon something different and in just 3-4 months I became rich. And by that I mean that in a small period of time I made 22.2 times my yearly expenses. Obviously, that was a very big thing for me considering that I was only 22 years old.

The big problem is that I had almost no concept of financial independence, even if all that money was the result of trading. I took some high risks and they paid really well, my investments made over 10k% which now I know is absurd. At that time I wasn’t paying attention to the circumstances that led to that, all I was thinking about was how to reach even higher than that.

I was depressed by my financial failure
Since it was mostly serendipity, all that money didn’t mean much to me, it was just a number. I analyzed the market of cryptocurrencies knowing that the blockchain technologies are going to become a “hot” market and I found 2 coins that were following Bitcoin and Litecoin growth. My analysis was correct and it paid off big time. But without considering the risks I was taking I was going way ahead with my investments.
At the time, I didn’t even realize that I became financially independent, I just knew I had enough cash to afford most things. My exaltation ended rapidly when the ban on Bitcoin started in China and affected all other currencies as well. It hit me like a hurricane and I lost almost all of my investments in a period of 3 days. Never have I been so shocked and depressed in my life.

That’s when I had my first seminar, 3 years ago and I can honestly say that it has shifted my life. I was really angry at myself because I had missed the opportunity of doing something useful with all that money. But I was blinded by my desire to have more and more.

That was the moment when I started opening my eyes, analyzing what went wrong and why. The truth is that I had extracted some very valuable information from my foolish mistake.

After seminar

It took me two days to calm down after my big seminar. I was just going circles in the middle of my room, walking and thinking what went wrong and how I wasn’t able to anticipate that. After those two days, I decided that I should educate myself by reading about entrepreneurs and their strategies. I had to learn how to take a more calculated risk to get back on the success track. I was determined to make some changes in order to reach success once again.

I understood that I had to take a full-time job and try to learn from the big companies. I wanted to know how they do things and how they work. Working full-time wasn’t a big issue for me, I was able to find a job rapidly thanks to my experience. Since then, I started reading lots of books and understood that my financial education was going to be the most important thing.

Back to present

Today I was thinking about my finances and how the investments are turning out. I usually do a full overview every 6 months and small reports once a month.

As I was evaluating my income I realized that I’m financially independent for the second time. When I made my plans to get back to financial independence I calculated it would take at least 9 years to achieve it, but after doing more alternative investments and by working daily after coming home from my full-time job, I got here in 3 years.

I know that for some of you reaching financial independence and working full-time for someone else isn’t a dream come true, but for me it’s just something that I like to do and a big part of the process is still focused on educating myself and learning from others.

I’m not feeling any more special than I did in the past, but I’m happy that I got so far at 25.

How about you?

Did you face any seminars in your life? How did it go and what have you learned from that experience?

1 thought on “Second time to financial independence

  • I feel like I face trials everyday and I am constantly am battling various things along the way. I feel like I have some really great entrepreneurial ideas and then at other times I feel like I struggle to bring them to fruition. I am definitely trying to work on being more consistent and not be so easily swayed 🙂

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