In 1645, a rōnin named Miyamoto Musashi wrote Dokkodo. I wanted to share how I am applying some of the principles from Dokkodo to my financial life.
Never be jealous
I put this first because this was the biggest issue I had to contend with when I first started investing. When I see someone making more than I did on a particular asset, snatching the best “buy” or “sell”, or having bigger bags to fill, I often have to keep myself in check. I think to myself, “Why should I worry about that? I put in money I was comfortable with losing and made a decent ROI.” When I make this reflection, I end up feeling joy for the person.
Do not let yourself be guided by the feeling of lust or love
I do not want to get consumed with lusting after buying more than I could afford to lose on an investment. Another way lust could be a problem is by getting consumed by the idea of getting rich from one investment. A recent example of this is GRT. As of now, GRT is slowly bleeding off and I regret not selling around the mid to high .60s. I should have at least sold off my initial investment. Onto the love aspect: there is much uncertainty with XRP as it stands. I am partial towards XRP and that could potentially lose me nearly a quarter of my Crypto portfolio.
In all things have no preferences
DIVERSIFY. (I always made sure blue chips were always in my bag).
Do not act following customary beliefs
Before entering the Crypto space, I knew many who held the dogma to only invest in stocks or real estate. Personally, I’m a big on diversification. Although I am kicking myself for not investing in Crypto earlier, I am glad that I “went against the grain.”
Do not fear death
Although I am a Zoomer, I realized that despite my young age, I could pretty much die at any moment. I’ve been fortunate to survive some of the accidents I have been in. I bought life insurance and honestly, it relieves me to know that my beneficiaries will be well off should I pass on.