Most market participants simply go with the flow. They try something. They look for earning schemes. But they lack a clear goal they want to achieve or a plan to achieve it.
Without a goal and a plan to reach that goal, you’ll forever be stuck in one place. Even if you manage to earn something in the moment, without a long-term goal, you risk losing it all.
What should the goal look like?
I’ll describe mine, and then I’ll show you a few examples:
My goal is to accumulate the maximum amount of BTC over the long term. All my actions are aimed precisely at this.
Why do I need BTC?
I see this asset as digital real estate.
My task is to accumulate as much digital real estate as possible while simultaneously renting it out through DeFi tools to generate a steady income.
I direct this income towards buying even more BTC or withdrawing it into real life.
All my actions are aimed at achieving this goal, and I don’t get distracted by other directions that don’t contribute to its achievement.
To put it simply – I’m building myself capital that I plan to continually grow, while simultaneously extracting profits from it.
Your goal may be completely different depending on what you want.
For example:
- Earn cryptocurrency to buy a $500,000 apartment within 3 years
- Start receiving $5,000 monthly and withdraw them into real life within 5 years
- Earn $1,000,000 in cryptocurrency within 7 years, switch to stablecoins, and generate passive income through conservative instruments
The goal should be long-term. Otherwise, you risk getting caught up in speculation and attempts to earn quickly. And attempts to earn quickly and immediately lead to money loss.
Furthermore – the goal should have clear time frames based on your income level.
For example – Reach a capital of 10 BTC within 3 years
A clear goal in terms of BTC quantity and time frames is set.
All of this is set individually, depending on your income level.
Setting a goal is only the first step. A detailed plan for its achievement is needed next.
Here’s what my plan looks like:
- Buy BTC monthly for an amount regardless of BTC’s price
- Use BTC in DeFi tools to generate additional income. Allocate part of the earned income towards buying BTC, and leave the rest in stablecoins or invest in other assets that interest me
- On the long term, fixate other assets in the portfolio with a shift towards BTC. Meaning, the altcoins I have – I only hold them to eventually convert them into BTC in the future.
With a set goal and a clear plan to achieve it, I always know what I need to do.
That’s why I don’t worry if Bitcoin drops by 20% in 3 months. I’m not tempted to sell it to exit the market in panic.
I have a goal, I have a plan – all that’s left is to act.
Don’t think BTC is the best asset for investment? No problem.
Choose other assets and tools. But set a clear goal, set a deadline for its completion, and stick to the plan.
To make it even easier – set intermediate goals that will lead to the main one.