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I lost a lot of money. Some of it was my own, some of it was borrowed, and some I’m not sure about. But no matter how much I lost, what mattered to me most was the lesson I learned from the experience.
Were you aware that people can still go bankrupt after they make their first million? That once you reach $1M in net worth, your lifetime wealth peaks? You’ll never know these things if you stick to traditional media sources for information about financial independence because they all say that anyone with $1M is “rich” and “ready for retirement” without paying any attention to future potential or spending habits.
As a result, I came to learn a lot of things that I wish had been more obvious. Below, I share my top 10 things that I learned after losing a lot of money.
1. You may have more than you realize in your net worth.
I’m very proud that my net worth peaked at $11M because it taught me to start looking at my finances from the perspective of what is possible rather than what is happening now or what was possible five years ago when the numbers were higher. As much as we want to focus on our current situation, we should look at our future in order to take advantage of opportunities when they arise instead of being paralyzed by fear that they will…
