Unexpected event

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The year 2020 saw the outbreak of the coronavirus that jolted the world, claiming countless lives. Despite being an unforeseen event, it brought both positive and negative impacts as many people were able to benefit from it, while others lost their jobs and businesses. It is worth noting that history is replete with such unexpected events that have the power to bring about a change, including the financial industry, which can be affected either positively or negatively.

20/20 was a significant year for me as it allowed me to reflect on my life and make positive changes that still benefit me today. It was a turning point for me due to the unexpected events that occurred, and many of my friends also feel the same way. While the internet is filled with stories of both negative and positive experiences related to the pandemic, it's undeniable that COVID-19 had a profound impact on the world. If we had anticipated its arrival, we could have taken steps to prepare for it.

Unexpected event hit different

I wasn't prepared for the change the pandemic brought, and so many people worldwide weren't. The pandemic browses to them, but the truth is, it affects so many people financially, especially here in Africa, where the government did little or nothing for the civilians. So many people died in Africa, not because of Corona, but because of starvation, just because the pandemic took a toll on their finances. Nobody was expecting it, and nobody prepared for it, and this affects so many people in Africa. These are what changed my perspective towards finance.

Some of the people who entered extreme poverty in Africa were not because there are not earning well before the pandemic, it was because they did not have any plan for unforeseen circumstances or unexpected events that might happen. People don't always think about the future this way. We are always stagnant about the future, thinking based on our past, and we believe so much in experience. We believe tomorrow will be like yesterday, which is not always true. The main reason why I say it is not always true is because so many things in this world don't always respect their past, they change with time because change is constant.

We predict the future based on past experiences

History is indeed fascinating, especially when it comes to finance. We tend to rely on past events to predict the future, and this method is usually effective. However, unexpected events can occur, and our minds may not always be prepared for them. This is because we have already fixed our thoughts on the future, based on our predictions from the past. When such unforeseen events happen, they can be financially and mentally draining for some people, and it may take a long time for them to recover. For instance, Luna's experience with Cryptocurrency is a perfect example of this, and we can also envision a scenario where Bitcoin's value drops to 5000 dollars tomorrow.

Many investors have put their money and trust into BTC, relying heavily on its past performance. However, it's important to remember that unforeseen events can greatly impact the world of cryptocurrency, causing widespread effects. To mitigate risks, it's crucial to be prepared for any unexpected changes by having a savings plan outside of crypto or learning other skills that can provide a safety net in case of a downturn.

Change is constant

It's important to consider a different perspective when looking toward the future. Even if we're confident in our plans, there's always the chance that something unexpected could happen - even if it's just a 0.5% chance. That's why it's crucial to take history and experience into account and approach the future with a fresh perspective while still learning from our past and always preparing for unexpected events.