My background in finance and ecommerce coupled with a career in tech led me to find cryptocurrencies early. Or, early enough.
Actually, it was just before mainstream media ran their campaign starting in the summer of 2017. I could sense the market heating up, and knew things were about to get crazy. I stockpiled as much as I could into some of the larger coins, like Ethereum and Ripple, as well as some really risky alt-coins which had huge potential payoffs.
I timed things perfect.
Every single coin I invested in exploded, and I locked in at least 2-3x gains on everything, and even an 5300%+ gain on a hail-mary – enough to turn $1,000 into $53,000 dollars. The problem was, I wasn’t prepared for my opportunity. I was just beginning my financial journey and every dollar was at work – I had < $1,000 to spare for an investment like this. Granted, I was able to make enough profits with that $1,000 to kick-start my emergency fund and start Checkout Saver, but had I been ready for this opportunity properly, I could have retired in my 20’s.
Just a short while later, I’m in a radically different position ready to take advantage of that next opportunity. I’ve made a framework, to help you ready yourself for opportunities as well.
- If you’re in it, get out of debt. You want your money invested, earning you money – not borrowed, working against you.
- Track your finances and create a budget. Debt or debt-free, you need to measure your finances and create a budget to help you maximize savings.
- Amass an emergency fund. The peace of mind it brings is heavenly.
- Start building your investments, but also keep some extra cash in reserve. This cash is to be used for other types of investments..
- Specialize in something. You have a talent and aptitude for something that sets you apart from everyone else. Embrace it, and learn how to monetize it. Specializing in a craft or field presents opportunities you won’t find in traditional places. You could be the best broken appliance flipper or a handmade dog collar artisan – find something that interests you and start honing your skills. Because you have extra cash set aside for capitalizing in your special field, you’ll be ready when the next opportunity comes along.