Trading and investing is not for everyone, especially in the case of trading. You kind of have better chances of making money out of investing in all sort of assets, or equal chances of winning at the casino than you have by trading. Proof of that is the massive amount of liquidations in the crypto markets.
I personally know a few real life persons that have never owned crypto on a software or hardware wallet in their entire life but they're trading such assets, one is even leverage trading. You don't have to be in crypto to be loosing money on crap projects like TITAN, as Marc Cuban has done recently, that's for sure.
You can get yourself in shit by simply pouring funds into real estate as well. As a good friend of mine did. He purchased a piece of land in the close vicinity of our town about one year and a half ago for about $14,000. He thought that was a bargain and he could double the money easily.
The thing is that he didn't have a nailed plan on what he's going to do with that land. If he'd resell it or build something on it. He simply FOMOed into it so the land won't be sold to someone else. Desperate decisions won't ever lead to riches though, that's what I told him recently.
Now he's "desperate to sell" and he's even asking double the price he's bought it for, but I say he has zero chances of getting that. ZERO. The terracing of the land is not flat at all and you need to work on it for a bit for giving that shit a form, and the entrance to it is right from the E 70 where cars usually drive quite fast.
In a few words that thing is not practical at all. He could have bought Bitcoin though, and I would have helped him to do that, but nope, he wanted land. As a side note he was asking me about DOGE a couple of months ago. I guess the type of investors that buy or would buy the top of shitcoins are not that good investors in real estate either.
One thing I would do different if I were in his place was to book a consultant. Someone that knows the value of what you're buying better than you and can help you out from getting locked with an asset that doesn't have much value and it's not creating any value. Kind of hard to get your hands on the exit key at this point.
The math is simple though, had he bought Bitcoin/crypto back in April 2020 when he put his hands on that land he would have had 2 Bitcoin now. That would be worth around $75,000 at the current price, could have been sold for $120,000+ when it local peaked or if held long term that Bitcoin might be worth $1 million.
It's not even much hassle to dump two Bitcoin on the market. At least it's way easier than dumping the land he owns right now. He's definitely not on the smart money when it comes to investing and he's not even listening to that. Sad to see though some really nice amount of cash wasted or simply locked in an unprofitable investment.
I remember at some point reading a post of @empoderat where he mentioned his one million worth portfolio was built with ten grand. That's something, you know. The opportunities are out there, you just have to take them and simply never FUD or FOMO. You a need a good strategy to, but that's a topic for another post.
Thanks for attention,