The Underdog Investor Audio Experience
When in Doubt... ZOOM OUT!
The 5-minute-a-day Underdog Investor audio experience is a show that’s dedicated to helping you take your power back and create your own version of Freedom. To our clients and us, financial freedom isn’t something that would be ‘nice’ to have; it’s non-negotiable. We’ll be focusing on conquering the world of Investing, diving into a wide range of income-producing opportunities available through DeFi, exploring all things blockchain, and mastering this thing called money.
Come hang out for 5 minutes a day, and let's keep you plugged into the game!
UNDERDOG INVESTOR GROUP: https://bit.ly/CryptoLabsPassiveIncome
FAST TRACK COACHING PROGRAM: https://bit.ly/CLabsFastTrack
- Broadcast on:
- 31 Aug 2024
- Audio Format:
- other
As DeFi investors, we've got to be thinking at least monthly for sure quarterly and I'd highly recommend thinking yearly. I think we've fallen to a trap because crypto and DeFi and all the dashboards and so much is built upon the last 24 hours. And imagine living your life that way, imagine checking your bank account every day or the scale every day or I don't know like measuring your progress through school and every single day you're looking at it being like, oh my God, I'm winning and now you're happy or at the end of the day, oh, I'm losing. My savings account in my bank account didn't go up today and now you're miserable and you quit. That would be kind of crazy, right? I got the scale, drop the pound K, I'm committed, oh, the scale didn't move today, I'm quitting. I feel discouraged. It's like, but if you track your health goals over a month, you will see progress if you're consistent on a daily basis through the ups and downs or if you track progress in your financial health monthly or quarterly and you're committed to making small steps every single day you will see progress, same is true in your business, same is true in your relationships. But for some reason in crypto and DeFi, we rushed to our computers in the morning or every single day and we're like, oh my God, the market is up 3% or oh my God, the market is down 5, 8, 10% or my portfolio is down a couple percent or my volumes are down from 120% to 40% or whatever and we're letting the market and the computer screen on a daily basis dictate our state and our commitment and our drive and our excitement. But if we started tracking our P&L or overall P&L on a monthly or quarterly basis, I can guarantee you, I can guarantee you that you will see progress. Look at the last 13 years of Bitcoin, you'll have almost, I think there's every year is green except for three years it was red, a minus I think a 110% a minus 65% and a minus something. Every other year was green, which means through every little mini cycle that year, up 20% down 40% up down, up down, you were ahead. Some years was 5,500%, some years was 60%, some years was 250%, I think on average it was around 150% per year annualized returns on Bitcoin. Meaning, if you just kept adding to your portfolio and staying patient, you would have been up on average 150%. And if you join the market at the worst possible time, like at the start of the big crashes and you were down 65% or 120%, but you stayed consistent within six months of the bull market, you already ahead. Even if you invested at the worst time, if you stayed consistent with it, but most people are looking at their DeFi portfolios or their crypto, a lot of people anyways are looking at just full transparency, I fall into this as well. I'll check and I'm like, oh man, hold up, Luke, let's zoom out. I got a whiteboard with like a five to 10 year financial projection of my crypto DeFi portfolio. It's projected to be worth over $7 million if I stay consistent with it. And so I guess my question to you is, on the days where I'm down, I think last week I was down, I think I was $70,000 overall, didn't sell so I'm not actually down, but mentally I'm just like, oh man, and then I just zoom out and I'm like, oh wait, this is all just noise because my portfolio will be worth, you know, over the $6 million market if I stay consistent on a daily, monthly, quarterly, yearly, if I just stay consistent. So my little message to you today is are we zooming out far enough? Are we staying long term? Are we getting caught up in the what happened today? What's the news today? Oh my God. What a volumes portfolio. I mess it up. I must be doing something wrong versus where am I going to be in a quarter? Am I, am I doing the right things to get me to my one, two, five, 10 year goals? And there's kind of a beautiful kind of calming effect when you do that. If you feel like you need a little support with that, don't hesitate to jump into the investor mindset group inside the UIG, if you haven't been in there for a little while, make sure you jump in, ask a question, watch a couple of the mindset investor mindset sessions. We have some investor frameworks in there to help you start zooming out, thinking long term and projecting. And with that said, I'll see you there. [BLANK_AUDIO]