Losing $10,000 In The Stock Market

I always talk about financial freedom. Your finances are a HUGE part of personal development. Therefore, having passive income above your expenses is necessary to your life (or, large recurring capital gains; buy low and sell high).

However, I always touch up on the fact that you cannot simply get financially free, from just wanting to be financially free. You need to educate yourself.

Robert Kiyosaki said "Financial freedom is available to those who learn about it and work for it". I love that quote: because it's true.

A while back, a close friend of mine lost $10,000 in the stock market. He heard about financial freedom, downloaded Robinhood app, and "invested". Instead of spending that $10,000 on EDUCATION, he threw it in the TRASH because of his LACK of education. However, if he did something different, perhaps spend $5,000 of that $10,000 on his financial intelligence, he could've used the leftover $5,000 and turned it back into $10,000, and then scaled that to $20,000, then $30,000, and so on.

Do you know HOW MUCH education you can buy with $5,000?! It's actually a ridiculous amount: I'm talking private online courses, seminars/webinars, books, and so on. Those are MUCH cheaper than a college degree that'll get you nowhere, compared to a cheaper alternative, yet taught by the true professionals, and gives you much more intelligence on the subject (including all of that which college would teach you).

Therefore, spending money on financial wisdom counts as investing, because that knowledge will bring you money anytime, and anywhere.

Keep on growing mentally, so that your bank account grows with you :)

- Ethan


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