Some financial advice
No crying at the casino. But, I do have some medicine that can help ease your pain. (this blog post is aimed at one of my co workers)
0) don't check frequently
This was the result of a script that simulates an snp500-like index using geometric brownian motion, where overall average gain is 7% a year. The script also checks how many RED days there are daily, weekly, monthly, quarterly, and annually.
The more often you check, the more red days you will see. If you are investing in volatile assets, you are doing it long term. So why the hell are you looking? Stop looking lmao.
1) stop valuing money
Stop valuing money. People get too attached to an arbitrary number, and it leads them to making suboptimal decisions. People will take on a much more stressful job for 30% more compensation. Is it really worth that? All the stress, all of the pain?
Likewise, people will move away from their family and friends in Canada to chase a non-trivial compensation bump of ~100k. While yes, it is a lot of money, it is only a large differential in Canada at this current point in time and if you work a career where your location results in a 100 bone differential, you are already making more than enough money to get all of the comfort you could ever really want.
There are some things that money can't buy, like proximity to family. The time you spend with your niece after 5pm, until their 7pm bed time. If things this valuable are so easy to obtain, is money really that valuable, relatively?
2) stop trading
It is a waste of time. Just go long on a broad based index relative to your risk appetite. If you must trade, understand that you are playing a game, that you are doing it for street cred, and make sure to do it with a small portion of money that you actually don't need.
The only time it makes sense to trade is when you have information that other people don't have, and honestly, the risk quickly becomes "is this insider trading?". I personally don't even have the time for it. I set it and forget it.
You don't go to vegas with your wedding money.
3) stop needing money
The less you need money, the less emotional you will be. The safer you are. Diversify your income streams. Live below your means. Maximize your means, but don't maximize how you consume your means.
4) you can invest with things other than money
Compounding is incredibly powerful. You should be investing. But not only with your money - you should invest with your time, your relationships, your networks, your businesses. "Value" is a thing that produces some return that you can utilize. E.G. people ask me if I invest in an AI adjacent things. I do, just not with money. I work for a company that pays me in stock. I am going long on AI not with money, but with my time.
Think of everything as factorio. Be open minded about what value really is.
When you're younger, you have time, not money. Fortunately, time is a lot more valuable than money. Invest it. Spend the time to build skills. Spend the time working for companies you believe in.
5) spend your money
Buy time with money. It's so much more valuable, it compounds so much better.
Money is fake. If you don't spend it, it has no value. A lot of us grew up poor, struggled. It's difficult for us to pay for things with something that we have an abundance for. E.G. getting cleaners to come through your house.
If you are at a certain income level, it's just simply worth it! Plus, it helps your local economy greatly. If money can make a problem go away, use the money. That's what the money is for!
Saving money is overrated anyways. It is so much easier to make more money.
