Some people will tell you that the best way is to get a job and save money.
Others, that you should be the create your own job, and be your own boss.
And of course, there are those who will tell you that you should just live in a country where the cost of living is low.
But the truth is, that none of these options are the best.
Because its really up to you.
The phrase “it’s not richer the one who has more but who needs less” is a sentiment that aligns with the core principles of several philosophical and spiritual traditions, rather than being attributed to a single individual called “Dod Budha.”
Specifically, this idea is strongly present in:
- Buddhism: The teachings of the Buddha emphasize non-attachment to material possessions and the reduction of desires as a path to liberation from suffering. The concept of “craving” (tanha) as the root of suffering directly relates to the idea that needing less leads to greater contentment.
- Stoicism: Ancient Stoic philosophers like Seneca, Epictetus, and Marcus Aurelius promoted the idea of focusing on virtue and inner well-being over material wealth. They advocated for distinguishing between true needs and superficial wants, believing that true richness comes from being content with what one has and not being enslaved by external possessions.
Because you can’t take any belongings with you in the very end of the story
Funding Adventures 101
Get someone to pay for your adventures.
Kidding.
Be the owner of your path, whatever you choose it to be.
A Better Job
Be aware of the rat race and lifestyle inflation.
Real Estate
Stocks
Some people do fundamental analysis, others do technical analysis, others do both.
In general, you can think that time is your best ally in the stock market.
Index Funds
If you have heard about ETF, index funds are kind of similar.
They replicate the performance of a specific index, like S&P 500 or MSCI World.
If you buy one of them, you will get the performance of the index, minus the fees.
And inside the index, you will find the stocks of the companies that make up the index.
Most people buying index fund are following the DCA (Dollar Cost Averaging) strategy.
DCA is a strategy where you buy a fixed amount of a stock or index fund at regular intervals, regardless of the stock’s price.
Others, do DCA and save some additional amount to buy stocks when they are cheaper.
There is an interesting passive investing community at: https://www.bogleheads.org/forum/
Dividend Strategies
There are some interesting stories, like the one of Dave Van Knapp: https://dividendsandincome.com/about-us/
Its a very interesting strategy, but it requires a lot of patience.
Yet you can see the 8th world marvel in action, the compounding effect, as in this Dave’s post
Crypto
Probably not the best option for most people, but it can be interesting to learn about it.
Some people are hodlers, others are traders.
There are also miners, but that is a whole other story.
There has been also 101 scams, like Terra or Celsius network.
In general, you should run away from centralized crypto black boxes.
But don’t be afraid, DeFi is still there and code is law.
You can have a look to:
- https://whycryptocurrencies.com
- https://www.goodreads.com/book/show/36448501-the-bitcoin-standard
- Edward Griffin’s The Creature from Jekyll Island. Specially if you like SciFi and Conspiracy theories
To go deeper, see:
-
See what you have in your defi wallet: https://app.metalend.tech/ or via https://app.morpho.org
-
BlockChain Scanners
A Business
Some people will tell you that you are loosing your time (money) by investing in companies already stablished.
Wht they mean, is that if you can create a business, you can make more money than investing in companies already stablished.
With the premise that for every 1$ you place into the business, you could get 3$ in return.
That would be 2$ net profit, if you are good enough, making it a 200% return on investment, instead of a ~7% return on investment.
You should have a proper:
- Business Plan
- Business Model
- Marketing Plan: Probably using social media or paid ads
You can imagine that there are many stories and type of businesses: from bloggers, to podcasts, others will sell ebooks…
Websites
You can monetize your website in many ways:
- Ads
- Affiliate Marketing
- Ecommerce
Find a niche: Many people will tell you that you should focus on one of them.
- Like this guy, who have a business of ambulance rentals via a simple wordpress.
- Or these others, who rent quads
Dont pretend to solve all problems, at the same time.
Youtube Channels
Concepts
DCA Factor