First, you need a catalyst, which is the cash flow from your off-market income, for example, 50,000 to 100,000 a year. This is to ensure that you do not need to sell assets and miss opportunities.
Secondly, when facing good opportunities, such as a bull market or bear market in the cryptocurrency circle, do not invest excessively. This excess does not mean you cannot hold a super heavy position, but you must not let this joy cloud your mind, causing you to make unnecessary moves. Moreover, avoid adding various leverage, loans, etc.
Once you achieve these two points, the third point is that you need a bubble opportunity. A bubble opportunity refers to a time when everyone's assets soar, and when playing the same target, everyone is wealthy. At this time, you must sell, turning the bubble into art. The market can allow everyone to have floating profits, but it is impossible for everyone to make money. When everyone has floating profits, that is a bubble opportunity; sell decisively.
Moreover, you need to go through 1-3 bubble opportunities, mastering the methodology to deal with bubbles. The money you get should not be used for any purpose; buy it when there are no more bubbles.
If you purely hold onto it, you will most likely not be able to hold on. You must actively apply the methodology; it’s not just about holding. If you have a lot of money, you can hold, but if you have less, you need to give up some sense of security to bet on the bear market cycle.
When everyone advises you not to buy, when everyone says it cannot be bought, there is a huge cognitive gap.
They are the source of your access to the bubble. If they all say it's good, you will definitely be dragged down with no opportunities.
Bubble-exploding asset types must not be shanzhai coins or air coins; if you perceive a possibility of dying, you cannot choose them.
You must go through 2 cycles and continue to rise; the only certainty is BTC.
Another point is about mindset.
I have a question that has always been particularly contradictory: if I don't get married or have children in this life and save money to become rich, but by the time I am old, I have developed the habit of frugality and have no heir to inherit my wealth, isn't my life quite sad? But if I don't do this, I may also end up poor when I am old, which is also sad.
Rest assured, saving money will not make you rich. If the process of making money does not excite you to the point of sleeplessness and does not provide intrinsic motivation beyond making money itself, you will not become wealthy, nor will you have anything for others to inherit.
You must spend when necessary for a normal life. I once walked the path of frugality, which is the behavior of a madman. I now realize that it is actually wrong. Most people cannot manage it. In the end, they will have a mental breakdown.
After earning 10 million, how to keep it.
1. Some targets are opportunities of the times; the next one will have to wait; there will be assets like this after BTC, but you have to wait.
The targets may change, but human nature will not.
2. Can you maintain the same consumption level after having 10 million in net assets? It's not about frugality; it's about maintaining the same level as before. This is key.
3. You must not expand and create chaos; once you have money, you start spending wildly, which is a sign of decline.
4. Break free from the cognitive pressure caused by various social relationships, such as when others ask to borrow money, seek investments, or emotionally blackmail you.
Some will be taken away by women, and some will be taken away by friends. Once you have money, there will definitely be people trying to find ways to take money from you.
You are the client of everyone around you; you need to be vigilant. Most people cannot get past this point.
Those who break through will lose a lot and gain loneliness.