1 million in 234 days?

Today I was watching a video of a Dutch youtuber, and he describes a way to go from 1000 dollars to 1 million in 234 days, if you can take a profit of 3% per day and compound that every day!

Now or never?

Now I don't want to immediately claim that I have $1000. And also not that I could take a 3% profit every day, but on the other hand… we are in a bull market NOW. And many cryptos are flying through the roof. Anyway, all cryptos fluctuate up and down every day… and that makes this perhaps the perfect market to see what I can achieve with it. Now that I know more about trading by writing for the @lbi-token, I feel a bit more confident about it…

I am so intrigued

The idea is TOO attractive not to do anything with it. And let's be honest, I'm really like… What the F * ck… what someone else can do, I should ALSO be able to do. Although I know very well that it can also turn against me, it is not as easy as it seems. Because if you just take the wrong trade, you will see a loss again and then there is nothing for it but to sit on my hands, and especially not to do panic selling. And that's something, let's be honest, that I haven't quite mastered yet. The same with a FOMO to fly into something. Switching off emotions is not that easy! So in that respect I certainly have a few things to learn.

Patience is important

It doesn't matter how many times my partner has said to me “PATIENCE IS IMPORTANT”. And how often I bought a little too early to see it drop immediately afterwards. Oh, I really don't think I can count the times that happened on one hand. Also selling it too early to see it skyrocket afterwards is well known to me by now. But all that aside, I did learn things from my mistakes.

I wanna be a millionaire!

No I'm not going to pretend I'm going to be a millionaire. But secretly, very secretly, (not so secretly anymore now), I of course have that hope that I would succeed. Wouldn't that be great? Who does not want that now, never worry about money again!

Start with 500 dollar!

I showed the video to my partner, he understood the theory very well, just like me, and then we looked together at the possibilities that we would have ... and we both thought a start with 500 dollars was a possibility. So, it's my job to grow it. Take at least a profit of 3% with every trade.

Shut down my emotions

My partner urged me again to take a good look at the charts, to turn off my emotions. Draw up a plan for my trade and stick to it. Think logically before starting a trade. Doing my 'homework' BEFORE I fly into something headlong, and “NEVER BUY A GREEN CANDLE”…

He knows how to trade

In his own words, he used to do stock market trading himself… he stopped doing that years ago because it is not like him to spend all day in front of his PC. But at the time he did it, he had made a nice profit. He's now coming up with that now that I've been in crypto for 3 years…

GUYS, sigh!

An overload of instructions

Anyway, he tried to make clear to me what to pay attention to, what to see, what to take into account… and especially what NOT to do. Choosing the good coins that make nice swings per day, but are a reasonable 'safe bet' because there is vision behind it and the coins have a good use case. And especially NOT with a panic attack of “SAFE MY MONEY” selling at a loss. At one point he said I had to walk away from my PC, play with the dogs, throw my phone aside, and just WAIT for it to turn back up. That is why it is so important that I step into the coins that have a good use case so that it is almost a certainty that they will go up again. A trade can last longer than 10 minutes. LOL. It can also take a week, or two weeks if necessary. But don't get into projects that I don't know what they are doing. And that can therefore fly in all directions.

You can be lucky that such a project goes 1000x, but it can also go to zero. So better play a 'slightly safer game'.

It seems I have a new job

I have been nodding obediently “Yes” as I listened to the outline of instructions on what to do and what not to do. While I thought, "Jesus man, if you know it all so well ... do it yourself!" When I said that, I got the answer, "No I already work 40 hours a week for the money, this is your job now". Well, let me be honest, it is not a tedious job ... but to say that there is no responsibility on my shoulders ... That is another story.

No pressure at all ... LOL

Lol… No, I have not been instructed that my work is only finished with 1 million. But it must in any case yield a profit. So no, no pressure! Sigh!

After the instructions were given, and we agreed that I'm going to take it upon myself to try ... Oh no, I have to say,

"I'M GOING TO DO IT"

Daydreaming!

What would we do with 1 million?

So many ideas

To be honest, I've never daydreamed about it all that often, simply for the reason that I've never had so much money available. And never thought I could ever achieve something like this. But when we were daydreaming about it yesterday, yes, then ideas came in any way.

Buy out the landlord

At first my partner said. We buy out the landlord of this farm that we have this place of our own with all the surrounding land. Then we can really make something out of it, which will also generate money. I agreed with him on the one hand, but then said… “Well, looking at the state of repair of this farm, we'd better buy another one that doesn't need much refurbishment”. My partner immediately wondered if I would also arrange the move, whereupon I laughed and said, "With 1 million in your bank account, are you going to worry about a move?" LOL. He also laughed and agreed. Because indeed if you really have 1 million you don't have to worry about how you pay for and arrange a move.

Passive income streams

Then we brainstormed how we would set up passive income streams, because let's be honest. If you buy a detached farm you can create income yourself, but a few passive flows of income are really necessary to ensure that your bank account level is maintained. Of course, you also have quite a few costs. So we agreed that we would buy at least a second home, and we would rent it out. With that, you have two things. Real estate is a rising market in the Netherlands, but also a monthly income from rent.

Stablecoins to gather interest on Nexo

Of course, we would also convert a nice part into stablecoins and put that away with Nexo, to get interest every day and compound that. And well, if you have 1 million… then of course you also invest in BITCOIN. Because that is also a 'safe bet' to grow your capital.

Shocking moment

While talking my partner suddenly said. I think you should make more trades, and not stop when you reach 1 million. Because when I hear our plans, that one million has been spent very quickly and we still have to live!

Even with 1 million ... you have to be aware of what you do!

It gave me almost a heart attack, I realized that it does indeed sound like a huge amount, whatever it is of course! But if you are not paying attention, and are not aware of how you live, and especially ... if you do not ensure that it continues to be replenished. Then it will be over again very quickly!

Good luck to me

Well ... all kidding aside. So I am at the beginning of a long exciting road to 1 million according to my partner. This morning he said it again. Good luck with your trades, on your way to 1 million!

Crown Princess Amalia

When I turned on my PC afterwards… I was the first to see a message that from this year on, when she celebrates her 18th birthday, our Crown Princess Amalia will receive 1.5 million euros per year. How absurd is that. An 18-year-old girl who, according to our government, needs an expense allowance of 1.5 million euros per year?

1,5 million a year!

I'm honestly saying I wouldn't want to be in the shoes of the royal family. They always live their lives in the spotlight, but to say that an 18-year-old girl should get 1.5 million euros a year? That sounds insane to me! What causes so many expenses? I quickly made a calculation.

I don't get it

My partner earns 23,000 euros gross per year! If he has worked 40 years, then in his entire 40 working years he will have earned not even 1 million GROSS. And he had to work for that for 40 years. There are people in line at Food Banks, there are more homeless people than ever in the Netherlands. Half the country now needs government support due to the Corona crisis, which means that the middle class is almost in danger of going bankrupt. And then such a chick of just 18 years old, who is still in school… should have an expense allowance of 1.5 million euros per year?

Insane or not?

Yes, I have also read that according to the estimates, the entire royal family costs about 7 euros per year per capita in the Dutch population. And that is not even that expensive if you look at it that way. They seem to do a lot of good for the Netherlands and bring in billions. I have to say that in fairness, but still! It just sounds insane to me!

Ah well, it doesn't matter

And as long as Amalia has no official obligations, as long as she is still at school, as long as she is not yet a queen and her parents still have the obligations, I personally think it is very exaggerated to now pay her 1.5 million euros annually. Her father is King, I understand that he receives a state benefit… her mother is Queen, I understand that she receives a state benefit. Although I do not understand that her benefit is less than that of her daughter. Well, it doesn't matter

I have nothing to say about it ...

I can only think ... how do I get US 1 million dollars / euros?

And what would we do with it afterwards? For the time being, the start is not good… LOL. With my first trade I have to show some patience, I'm afraid. So, I'm just going to follow my partner's advice… sit on my hands, get away from my pc screen, play with the dogs… walk the dogs, and soon turn an eye on my then hopefully growing little money. 15 euros profit today, that is not too much to ask, is it?

But before I go… just this question;

WHAT WOULD YOU DO WITH 1 MILLION?

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That's just it. If you have 1 Million and you want to keep it, you don't spend it.

Imagine you are a billionaire. You want a yacht for $5 million.

You buy a business to come up with the cash to make payments on the yacht. This way you keep your billions. Or you can lease out the yacht for income.

You buy the yacht in cash. Then you collateralize it for a loan to get most of your money back. Now you control $5 million worth of property for a fraction of the cost.

It is not that you NEED a loan. Rather, you are USING a loan so that the bank's money is making you money rather than yours. You keep your money. You do this by having something that can be used as collateral, like the farm and rental property you mentioned. While the bank's money is working, your money is earning interest.

What would you do with a million?