Escaping Financial Doom: Strategies to Break Free from Idiosyncratic Pursuits

Why do investments fail?
This happened to me, and I would like to share with you the reason.

If your circle of friends' aim in life is to seek indulgence, leave them.

When your income goes up, your lifestyle runs faster than your income, so does your debt, until it becomes a habit.

Then, when a downturn comes, you will make irrational decisions because all you think is how to get this amount of money this month and you will dump your competitiveness. Instead, you'll become a salesperson looking for fools.

If you're influenced by the people in your circle who like to win people and influence friends, giving peer pressure to spend on things that are not aligned with your goal, leave them.

Continuing down this path will ultimately lead to your inability to compete with others because you become too expensive. If you're a business owner, you won't be able to compete because all you think is how to get this amount of money to service your debt.

You'll have a survivorship bias that some people are successful just by doing sales pitch, finding loophole after loophole, fools after fools.

Unfortunately, the economic system is designed for people to compete, and everything goes back to the production of goods and services. That's what's within the empirical rule.

So, how to break all of this mess?
First, you must quit everything that makes you unproductive, sacrifice, cut off your circle of friends who don't support your growth. What I mean by growth here is nothing more than growing in competition to make better goods and services such as better, faster, cheaper.

Next, you must focus on competition; that's the only way. This mindset is also the golden key in choosing your investment, such as company shares you want to buy. If you practice this principle, you will definitely choose the companies which are alpha to others, and you will know if there's something wrong fundamentally.

In conclusion, everything goes back to the production of goods and services.