mrjakewoodhouse on Nostr: From Oct 2021 to July 2023 my net assets dropped by 25% in value It was horrible ...
From Oct 2021 to July 2023 my net assets dropped by 25% in value
It was horrible
Having to go to your wife and admit you'd f*cked up
I'd made a series of investment mistakes...
First off, I had 2 real estate investments, that I was struggling to sell. No-one wanted to buy them!
So what do you do?
Sell at a loss?
Or sit and hold... Then hope that you start to make your money back?
Essentially I had assets on my balance sheet that were over-valued.
To amp things up even more, I one day realised I'd made an accounting error, converting GBP to AUD on an equity position that was wrong
F*ck!
Anyways, 25% less wealth than you though is not your everyday, "oops I've lost my wallet"
Thankfully I was running headlong down the Bitcoin Rabbit Hole, so I made a big call, and decided to re-allocate
I've also since put in place a superior accounting process that I share with my wife weekly
We have far better transparency together on what we own, our expenses, and therefore our savings
Why tell this?
Well I am so grateful to have made those mistakes
Today we're circa 60% better off (in $ terms) to Oct 2023
A win
Which as someone who is very bad at saying well done to themself, I wanted to make public like this, to say so myself
What a time to be alive
Sending good vibes all!
It was horrible
Having to go to your wife and admit you'd f*cked up
I'd made a series of investment mistakes...
First off, I had 2 real estate investments, that I was struggling to sell. No-one wanted to buy them!
So what do you do?
Sell at a loss?
Or sit and hold... Then hope that you start to make your money back?
Essentially I had assets on my balance sheet that were over-valued.
To amp things up even more, I one day realised I'd made an accounting error, converting GBP to AUD on an equity position that was wrong
F*ck!
Anyways, 25% less wealth than you though is not your everyday, "oops I've lost my wallet"
Thankfully I was running headlong down the Bitcoin Rabbit Hole, so I made a big call, and decided to re-allocate
I've also since put in place a superior accounting process that I share with my wife weekly
We have far better transparency together on what we own, our expenses, and therefore our savings
Why tell this?
Well I am so grateful to have made those mistakes
Today we're circa 60% better off (in $ terms) to Oct 2023
A win
Which as someone who is very bad at saying well done to themself, I wanted to make public like this, to say so myself
What a time to be alive
Sending good vibes all!