Crypto has created a new generation of spoiled investors. I mean, how could you not be spoiled after watching the greatest asset in history grow over 1 million percent? Sitting at a penny at one point, then growing to over $64,000. However, this false sense of entitlement will ultimately hurt investors in the long run due to them being impatient and demanding.
The level of patience required with traditional retirement accounts is what is necessary when it comes to investing in crypto. Granted, that doesn't mean you have to wait 20 or 30 years to benefit. The goal of retirement can be met in shorter time frames. It could still be advantageous for you to consider a three- to five-year plan. Either way, you will need to be patient.
It took Cardano two years to give me a return that was more than my parents' traditional retirement account. It took lots of patience and discipline. So, the next time you see your asset not pumping 1,000%, just relax and know that no one investing in the traditional markets is expecting 1,000% gains in a year's time. Also, consider that retirement doesn't suggest that you actually stop working. You can retire from a 9-5 job to start your own business. You can retire from a part-time job. You can retire from no longer living check to check.
It is okay to redefine what financial freedom looks like to you. In the process, just don't rush it because it may harm you more than help you.
Author: Eric White
Editor: Shamya White