Is Bitcoin still a good investment in 2024?
Mark Helfman·5 min
Now to some people feasibility is simply a function of motivation, but this can be a very misguided and toxic idea. Some people genuinely only have an hour a day. They might need to direct all their other time somewhere else: work, finances, family, health issues, taking care of others, etc. It is very difficult to find out where someone’s time is going. And if you have cleared out your schedule and re-listed your priorities and there’s still not enough time in the day, this goal is not for you.
Following these three steps, or answering these three questions if you will, should let you a lot closer to seeing whether a goal can be successful, or is doomed to fail from the start.
Now health and fitness isn’t exactly everyone’s thing. Sure, I get that. If you’re more interested in the money side of things, I’ll give you some tips there too.
I have already written and published an article on building the habit of getting your finances in order in 20 minutes a day. This article focusses on the fact that sometimes a goal as massive as “get your finances in order” can seem like the most daunting task ever, but it really doesn’t have to be. Because 20 minutes a day sounds feasible enough. So please do read that article if this is a goal of yours because it does actually outline easy steps to get that done.
If your goal is nice and vague like “I want to be rich someday,” I’m going to stop you right there. Define rich. Define someday. You’re going to need clear definitions for a goal to know if you’ve reached it or not.
If you think having 100.000 is being rich, well that’s a goal. But is that in annual wage or in assets? Is this before or after-tax? Are we talking dollars, euros, pounds, yen? There are many questions to answer here. Without clarity, goals are too messy to obtain and are likely to fail as a result. So be clear.
Once you do have a clear (financial) goal you can take the step towards it. If you want to make $100.000 a year before tax, you’re going to need to get a job that can pay that. So aim for sectors that do. Sectors known for this kind of money are tech and finance. Maybe go into asset management?
It sounds a bit weird to have it put like that because often, people do have passions and other lifegoals that need to co-exist with the goal of “becoming rich” which actually complicates the matter. But if your only goal is to become rich, just aim for jobs that you know pay a lot. Go into lifedraining sectors, where you’ll be burned out in under a decade and make that money! Maybe halfway through you’ll realize that becoming rich was never truly your goal and you’ll readjust, that’s fine too. But technically speaking, you are able to achieve this.
Now, to get back to the initial question: How do you build a successful goal? Well, you need a very clear definition of what your goal is, and how much time you want to reach it. “I want to be skinnier” is bad. “I want to lose 5 kilos in the next month” is good. Then, the goal has to be possible, realistic and feasible within the allotted time. Can you physically lose 5 kilos in a month? Yes. But it’s not going to be pleasant. Is this a realistic goal? If you leave carbs alone, drink water (no alcohol), eat vegetables and protein and do loads of cardio, sure. Is this feasible within your lifestyle? Do you have time to cook healthy meals, do food prep and do cardio? Well, if you fit it all in, there’s no reason why this goal shouldn’t be achievable. Good for you, you have built a successful goal!Real-time institutional flow data and trading signals for serious investors.
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