“Thou shalt not hold money without purpose.”-Anonymous
What this Saint of Moneyhood means is that your money does not exist in a vacuum.
You don’t invest to “beat the market”.
You don’t hold cash because it feels good.
You don’t buy crypto because everyone’s doing it.
Every penny you have needs a purpose. It needs to be tied to a financial goal.
If you don’t know where you’re going, any path will get you there.
You invest to earn compound interest so you can live off the income some day.
You hold cash because you need liquidity for an emergency fund.
You buy crypto because it’s fun. (Recreation is a perfectly acceptable goal as long as it’s a very small percentage of your money.)
Above all else, don’t let your money wander around aimlessly. Like a dog off a leash, it will eventually get lost.
