Challenging parts of gaining new money

January 12, 2025

I want to be rich

The challenging parts to wealth is building the base to compound my wealth. Those who can compound either were born very wealthy and had a big base established by their parents or got lucky very early and found a way to build a respectable base at a young age and chose wise investments like bitcoin, stocks, etc. My challenge is building the base and compounding that growth in a short amount of time. A lot of my life goals seem hinged on achieving hockey stick growth in a short amount of time, like buying a condo in New York City, settling down, and starting a life. Part of it comes from a partial burn out of my current situation, working and droning day to day.

Introspection aside, I know the reasons why I might not like it, let’s stick with the facts and not the feelings.

  • Fact 1: I need a large base to compound wealth quickly
  • Fact 2: I have a large source of income from my W2 job
  • Fact 3: My expenses are overall low, because my rent is capped at 3.6k and I do not spend alot on groceries or going out.
  • Fact 4: I chose investments that I believe will lead me to high growth in the coming years, however I don’t know when or how profound those growth curves will be.

I’m basically sitting on a pile of dynamite that I am slowly accumulating and adding more to. I don’t know when the spark to light the pile will come around, but I am faithfully adding more to it.

Actionable reframing

  • Reframing 1: Changing the timeline when life events will happen. I know things will probably explode, I just don’t know when it will happen. Setting timelines adds additional stress and sets unrealistic expectations
  • Reframing 2: Reframe how much additional fuel I should dump on the same fire. I am unsure how high I will fly, should I diversify into other high reward investments
  • Reframing 3: Realization that my W2 job only serves the purpose of building a capital base to seek my fortunes via investments

Goals

Instead of expecting a pile of dynamite to blow up, I should be ok with a pile of dynamite to now blow up for a while. If it does blow up then that’s just icing on the cake.

I should also realize that it’s not a realistic goal to expect an investment to bring returns by a certain date.

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