The number was almost €100,000
When I calculated the cost of my financial mistakes over a decade, the number came close to €100,000. That was uncomfortable because there was no single disaster to blame. The money had leaked through ordinary decisions.
Mistake one was waiting
I waited for the right moment to invest. The market felt uncertain, so I kept some money on the sidelines. The problem with waiting is that uncertainty never completely disappears. A repeatable investment system can remove a decision that otherwise gets renegotiated every month.
Mistake two was consumer debt
Consumer debt allowed purchases to happen before the money had been earned. The payment then followed me into the future. Saving first and buying second sounds simple, but the difference compounds because the money not spent can become capital.
Mistake three was expecting fast results
I expected passive income to become meaningful quickly. It did not. The early years were mostly preparation. Compounding is difficult to appreciate while the numbers are still small.
The real mistake was repetition
A small mistake repeated for ten years can be more expensive than one large mistake that happens once. That is why I now pay more attention to systems than motivation. The system decides what happens on the ordinary Tuesday when nobody is thinking about money.
A small mistake repeated for ten years can be more expensive than one large mistake that happens once. That is why I now pay more attention to systems than motivation. The system decides what happens on the ordinary Tuesday when nobody is thinking about money.
This essay is the deeper story behind NobodyToldMike Episode 13.
Watch the episode →Educational content only. This essay is not financial advice. Financial decisions depend on your circumstances, goals and risk tolerance.