Like many people who grew up in middle class America, somewhere between having family vacations every year and having to strategize trips to town to save on gas, I have always had the mindset that I would save money by putting it in the bank and not touching it. The more money that I had in a savings account, sitting there unavailable, the more secure and financially well off I would be. Exactly like the idea of putting a stack of cash under the mattress for safekeeping.
The thing is, I may feel safe because it isn't going anywhere, but that's the problem. It isn't going anywhere. It's not being invested, earning interest, or unlocking possibilities for me. It's a survival mentality, based on the assumption that at some point, something will happen to me and I'll have my savings tucked away. Now, I'm by no means saying that having an emergency savings fund is unnecessary. In fact, I'm a strong believer in the importance of having funds available in times of need. I like to keep a car repair fund, a health emergency fund, a general "oh crap" fund, and I'm even working on education funds for my children who do not yet exist. And yes, there is the possibility that at some point we might not be able to trust the bank or economy or even spending ability. What I'm talking about is the mentality that savings should be static, tucked away in a bank account and left alone.
My financial goal has evolved from "One day, I want x amount of money that sits in my savings" to "I want to have steady sources of passive income coming each direction at me that I turn into investments and assets, and yes, take some risks. I want my money to work for me. I've been working hard all my life, striving for the kind of financial freedom and reward that rarely comes from sitting around, so why should my money get to do that?
Since discovering the world of cryptocurrency recently, I've been amazed by the possibilities for both the individual and the global economy as a whole. The concepts of decentralized finance, blockchain economy, and receiving earnings in cryptocurrencies are fascinating and exciting. As a hardworking young professional, I realized that my full time employment is not enough to get me where I want to be financially. It has less to do with my yearly earnings than the reality that no matter what my income is, as long as I'm working for someone else, I can only get so far. My creativity, dedication, and willingness to explore the unknown is what holds the key to the future.
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