I'm half sharing this because I know some others who made big wins and also took big losses in the last couple of years. I think eventually, anyone who aims big enough will go through something similar. And what matters is how you come out the other side. Would love to hear your own personal stories as well, leave me a comment👇
Myles I'm abit confused, did you lose all 10 miillion permanently or are they at a negative say for example -75% or -50% and u can hold and let them rebound for the next bull market? because if it is BTC or ETH it shouldnt be an issue? just hold and be patient?
Always a treat to see an MD video notification! I've had a very similar series of events to what you've gone through (throw a little heart break into the mix to make it extra dark:)). Exit. A seemingly endless string of things i wanted coming true. Then coming to the sober realization it didn't make me any happier (or worse...the realization it wasn't what I thought it would be). Then having roughly 1/2 of it dissipate. Capstoned by an ensuing ego death and searching for who I really am. It's a tough journey of hard yards. One that put me on my knees with some of the most despair i've ever had. But it's true that one of the biggest change agents and course correction mechanisms the universe has to get where we need to be is darkness. Sometimes it's the only nudge that works. It really is the simple things that matter once you've got the necessities covered. Truly enjoying the present moment. Observing the 'good' and 'bad' things in life without attachment. Realizing who you really are, outside of labels & thoughts. Friendships. Being outside. A glass of wine on a patio. Kindness of strangers. Deep conversations. Having people that truly love you for who you are. Glad you're coming out the other side brother. And i'm sure Myles 6 years ago, and future Myles on his death bed, would want nothing more than you be where you are right now - precisely in this moment. Much respect & love, as always my friend.
Adam, I'd love to hear your story of how you've lost almost half of your exit money in one of your videos. Of course only/when you're ready and willing. I think not enough people talk about the "other" side of "richness". Thanks Myles for sharing your story with us!
@@AnastasiaPiccoLittle Mine was primarily divorce, and there's certain things that involve other people I wouldn't share publicly. But I always try to give my take on business and life when it feels right and I think it will help. I'll have more news on a new YT channel this Fall.
My story is EERILY similar. A few years ago after meeting with my accountant/business advisor, which I’d do quarterly, he confirmed all of my calculations, assumptions, predictions, risks etc, it became clear that my years of careful planning, heavy savings/reasonable non risky investments, continued sustainable business growth etc, had paid off and my lifelong financial security was guaranteed when I was 50. Because my primary goal has never been to become ultra wealthy, I have zero high risk high reward investments, and no plans of building another business for additional streams of income, because I don’t need it to live even above my current level of a blessed lifestyle. However, within a month of the realization that I “had made it”, I became something I didn’t recognize. My brain HYPER-FOCUSED on finances, expenses etc, and unilaterally decided to pay the remaining home mortgage and my few rental home mortgages off within a year to have zero debt, which then created stress. One morning I literally blew up on my wife in front of the kids after ruminating all night about that months credit card bill. WTF? I artificially created a problem, an artificial timeline, etc sort of like I needed to feel financial scarcity that wasn’t even there. She felt like money was more important to me than my family, and I almost lost my marriage. I had been planning and saving so long that I just couldn’t turn it off. Just like this video stated, I started on focusing on concepts like ultra wealthy incomes/net worths etc, and I think in my mind I moved the goal posts and could see that line of thinking leading to true unhappiness, because you’ll always be able to find someone who has more, is better looking, appears happier when viewing on the outside etc. I think greed and envy were becoming magnified in me, and it didn’t start until I had reached my goal of financial freedom and the peace of knowing you won’t outlast your money and never struggle financially. How crazy is that? Fortunately I’ve dramatically changed and am much happier. I’m now happy to spend a bazillion dollars on delivery services like daily door dash, delivery grocery shopping, home pick up laundry etc, because I know it makes our life simpler, and although yes we don’t have to pay someone to do things we can do and historically have always done, time is our greatest asset. I use to see such things as frivolous and wasteful, but if we can easily afford it and doesn’t in anyway hurt our future, then I’m all for it, and we are much happier. Sorry about the ramble, but I know exactly how it feels when you said money doesn’t being you happiness, can actually negatively impact your happiness, which can create interpersonal conflicts, lead to divorce etc. I still stay on guard for these obstacles, but am very happy I learned my lesson. I think high achievers have a hard time of knowing when it’s time to relax and enjoy your hard work….and get out of the way now before you ruin it.
Something which I have grown through personally. Took some time to stabilise things, bt in my case it was covid that hit strong. But it's always great to see you back.
What a beautiful story! Beautiful because there is a dream come true, then there is greed, darkness, loss, acceptance, enlightenment...But I wonder...Knowing that money is now what I truly want ...does it slow me down on my way to reaching that goal? 😅 Awesome to see you again and hear you talking about the essentials - seeing LIFE right where we are. Beautiful.
I'm happy that you figured everything out in the end. It might wind up being the best thing to ever happen for you in order to live a life you will now truly love.
I stumbled on this video after going through my morning wakeup, meditation and coffee routine. It has the perfect vibe for what I needed to hear right now. Thank you for helping me keep centered. Much love, man.
Can totally relate to this video, I feel many of us were effected by not taking profits at all or knowing we could have taken more if we did take some. I feel your story and connect with it deeply. The goal now is to start over, build a profitable business from the ground up and make the most of life, with family and friends. Do more, even if it's a trip out to the park, or a hike in the forest. Doing these things is the best medicine for mental health, it really is. I wish you all the best!
Stay strong bro I’ve also lost more than $10million cash and I can relate. You’ll overcome this. In time. Attach a different meaning to the lessons and stay detached as much as you can.
Full respect for sharing this mate. I think sharing this, will help in a massive way, too unload it for the world to see! Your right, its the simple things in life, that really matter. Your smart, young, with plenty of time on your side, keep striving forward bud 🍻
Sorry to hear that Myles, but thanks for sharing. Sounds like in the long run everything is still A Okay! On a side note, I've been missing you like crazy. I still go back to the old class lessons from your course to see if I can dig out a gold nugget that I missed before.
Thank you Myles! This retire early movement has landed in my country, and its doing so much damage, if you dont smell the roses, and dont enjoy the process and your transformation, just consumes you ending like Gollum, sadly obsessed, your obsession and no life lived. Thank you for sharing, peace from Chile.
Thanks for sharing your story and experience! Having followed your UA-cam 5 years ago about Amazon and was very very useful. Still remember watching your video about to quit teaching Amazon in UA-cam and felt sad. Great to see you again with more rich and mature life experience! Please post video regualarly and update how you are! From Hong Kong
Wow! Thanks so much for sharing this story Myles. Very interesting learning, that you could just as well be in your 'own rat race', even when you are an entrepreneur. I am lucky myself that i am not chasing the numbers at this point. Today i am signing the contracts for 2 more chalets on a very nice camping near me. Then i will have 3 chalets in total to rent out. 2 other friends bought 3 more chalets. They will sign as well today. We are on the same street, and apart from 1, the 6 chalets will be right next to each other. I spent months on talking to people and getting this done. In a way, i am combining joy, friends and doing what i love all in one thing. It's never been about the money (even though it's necessary). Because if you focus on the good stuff, the money will follow automatically. Your final lines hit me. Thanks man. Have a great day.
Hey Myles. Thanks for sharing this lesson. I think it’s for the better. Imagine if everything did go well in this case and you would have lived on pretending in a role for years or decades to come. One day you will be grateful this happened!
I know what it’s like to have your identity wrapped up something like a title or career and something happen and you lose that. It almost drove me to suicide. But, it helped restore my relationship with God. Man, dark times though. THanks for sharing, and glad you’re on this side of it.
Hello Myles, thank you for sharing the story and being vulnerable. I cannot imagine what it feels like to go through those ups and downs. I certainly found the story insightful and it resonates with a stage I want to achieve one day.
I love your quote “I know which one of these really makes me rich” it’s the great friend with whom you had an amazing time that day, not the money in your bank account. Amen brother
Great story and lessons. Shame you had to go through it, but imagine the knowledge will make you a load more in future. Also, welcome back to UA-cam! Looking forward to the new content.
I can relate...lost my home in Florida, in the crash of 2008/2009, only to watch it sell in 2021 for over $1,000,000. This money was to set me up for retirement. I went through all the emotions you've described. Painful experience.
its just human nature....its in all of us.....I've done the exact same thing; just not with millions; only with hundreds of thousands....thanks for sharing.....you will help more people with these lessons than all the "look how rich and successful I am" videos that we normally see from others on youtube.....
Kudos Myles for sharing this very personal story and hopefully one in a lifetime experience for you. This can’t be easy to come out into the open, but I am sure it is an important part for your healing process. I wish you the very best. Keep coming these great videos and stories, highly encouraging.
I can relate to your story allthough on a much smaller scale, I never achieved FU money and was never as successful as you so actually I have less to miss after losing most of it lol. Naked we come into this world and naked we depart, my 96 year old childless auntie died with millions in the bank recently, She could have really helped so many people but ended up leaving it all to other rich people, money was her security and bargaining chip in many ways - GOD Bless her Soul. Provide for yourself and family to live a decent life, give your excess money to those in need and store up your true riches in heaven.
Great video, you should do more. it's been a while and you're good at it! I am working my way to my retirement number and thinking of all the time I can spend with friends and family and the places I can go. The final number is irrelevant, its the freedom to take stock and appreciate life. Looking forward to the next one.
i have been following you now for a few years and it's crazy to see your journey and evolvement. It's like we know in advance chasing all this money and getting rich won't make us happy yet we only truly accept it when we become rich.
I never leave comments on any of the channels but you are someone special… You will be successful again soon and next time am sure instead of 10 Millions it would be 20 Millions
Wow, everything for you, came full circle, starting from your basic, pre-wealthy lifestyle/mindset to your extreme hunger and pursuit to make millions, while not feeling comfortable in your own skin, then to run it all back to that simple, relatively humble goal, you set out with, on your journey to financial freedom. Appreciate your insight and good luck to you in all your endeavors Myles!
I am glad that you took this as a “ needed to happen “ thing. I can notice your energy has changed compared to your previous videos. And I hope that these lessons will make you decide better in the long term. Thank you 🙏
Interesting story - thank-you. I think I'm at my retirement number and kinda don't see the point to work like I once did anymore but also find it hard to let go of the profitability I'm used to.
Thanks for sharing your story. I had a similar journey of making it and losing it. After many, many self analyses and reflections, I think my problem was my "mindset". As much as I wanted the big money and the good life, my subconscious was not ready for it. When I made the money, my subconscious was uncomfortable with it. My outer world did not match my inner world. So it systematically set out to get rid of it. Every investment and business venture I tried lost money. Next thing I knew, I had very little money left. My net worth probably went down to the level my subconscious was comfortable with. I think it's similar to lottery winners who always end up more broke than they started. They were just not ready for it. I know it sounds "hocus pocus" but it's something I keep in the back of my mind.
Good to see you back Myles. I used to follow your youtube channel for your Amazon seller insight and your Crypto videos. After the crash you disappeared and I did wonder what happened to you, and other You Tubers who posted those Crypto videos. Well done for getting to the stage where you can share your experience, and come full circle with things. Wishing you well on what comes next for you. Looking forward to watching more videos with your new perspective on life.
Respect for sharing and coming back stronger and wiser. It's nice to see that you're doing well. I also lost a ton of money in the recent bull market. It's nice to know that we're not alone and that it's okay. Appreciate the honest insights, your integry really shows. Lots of love.
I had at least three months during the last crypto bull run where I could have cashed out with 1 mil+. In the end I made it out with 200K (started with a lot less). Still hurts, but lessons were learned.
I worked with a guy that worked at many startups and he said "some people will just never sell". i.e. they could have retired early but they got greedy. Yes you kick yourself when the stock just goes up and up, happened to me but it has also gone down down down. I remember being at $40k and I road it all down to $18k and it dropped to zero in the next 6 months.
As an ex HS pro poker player I had a simmilar journey to yours and also experienced many cycles of ups and downs with all the emotional rollercoaster that comes with it. If you keep the sums LOWER (for your perception) you build resilience and experience if you keep repeating these cycles. Now I am joining the amazon game too, just because it seems fun 🔥😍
i learned this lesson when i bought a car thinking it was great buy... after three months sold it for 50% loss.. i saved money whole to buy the car and sacrificed my life.. now I try not sacrifice for shitty object.. just try enjoy what you have ...
Had a similar experience, not with those kinds of numbers but the numbers don’t really matter, ultimately the lesson is the same because I came to the same conclusions. Thanks for sharing
I don’t understand. The bottom line is you got 10M from crypto and lost it, but you still saved the Amazon business sale? Or did you gambled it all and lost everything?
Not using an opportunity to make money does not equal to losing money. This is why you can still smile when talking about this, it di Not break you financially. As for the passive income I feel like this is a mirage, dream. Too many people want to live like this, so this will not be sustainable in the long run.
Very interesting story, and it makes me wonder how many others go through this. Were you able to maintained the millionaire status, even through the $10 million loss? If so, you can still enjoy everything and not have to go work for someone else. That's a win.
It has been an honor to share this journey with you, Myles! I am grateful that I got a chance to work with you and learn from you... It all started because of the business, but it turned out to be a friendship for a lifetime. 🙏 BTW I have a similar note in my Journal about that hike in the Canary Islands! 🌄
I personally lost 94% in this bear market. It was horrible. I never wish that to anyone. Yet, here we are on the other side, present and alive, enthusiastic, empathetic. It wakes you up. One bear market is like a lost life chance to completely turn your life to something monstrous, whatever you believe it can come true. But the question is, will you take the money after all, and not buy other tokens and try to make even more money after making so much that you would not even think about money anymore. This is the bubble everybody must survive. Take profits guys.
You didn't lose 10m though as crypto didn't hit 0. I used to learn from you how to build amazon then you quit and I thought you were totally done! Now you're back. Keep going strong dude 💪
Very Similar story just with two digits less. lost around 90k from 2022 crypto crash at age 24. Also lost remaining 44 k because of FTX and Luna. To be honest, it was the best thing happened to me. Was depressed and angry for three months but changed my mindset for ever, understood real people around me. Now I'm just enjoying my life, appreciate little moments, got a good job in a great company, have a small business which produce real values.
Didn’t get how much you were in with your money but rule in investing on stocks or crypto is that is not your money at least till you sell.. anything in between your entry and when you sell is just virtual.. you can go to 100 millions but if you don’t sell is like having 0.. if you think like that you will not suffer this much
Are you starting at 0 again or are you still a millionaire? I might have missed that part. I think the stuff you are talking about is the hedonic treadmill.
Thanks for sharing your journey! It's nice seeing an honest perspective from someone who's come full circle. I'm currently on a leap of faith. Leaving an employer after 26yrs of dedicated service. Unfortunately, loyalty isn't always a 2 way street. They shitted on me and i made the tough decision to leave. My belief in the direction of cryptocurrency & Blockchain technology, guided my investments into the space. Although on a much smaller scale, i missed a 160k opportunity from a 20k investment in 2021. Greed, thinking prices would continue to rise, and not taking profits had me in the same position. This time around, I'm more focused, with a profit taking strategy to ladder out. Thanks again for sharing!
Hey Myles, I ended up losing nearly everything on FTX, Blockfi, Celsius, etc. and other crypto exchanges (held BTC for many years and I would actually have been okay). I was in ecommerce management too but some critical partners left the space. At it's peak my net was around $2 mil. I just finished a coding bootcamp and options trading for small monthly income, but tech is really hard to get into right now. What are your next steps forward?
Tough losses. No losses, just lessons learned. Learn self custody, buy a hard wallet and keep some crypto on them. Stay away from high yield promising exchanges. Nothing 100% safe investing, but diversify helps. Safe travels 👍
Smartest thing you ever did was sell your Amazon biz for a lump sum. You got out when the going was good. The dumbest thing you did was trust Alex Mashinsky. Look, it is what it is, we live and learn and move on. Your right, stop serving your ego to look good in front of other people it just a downward spiral if that's your priority. Thanks for the update.
haha, Playa de Las Canteras, I'mfrom Las Palmas de Gran Canaria and live 5 minutes walk from Las Canteras... what a surprise, I'm a Amazon seller too. Ah! and I have lost a good amount of money because of a trading ponzi scheme....
What I learned is, the world goes from calamity to calamity. Don't be impatient. Wait, then invest after the calamity. Invest in real cash generating businesses that at the bottom of the stock market pay fantastic dividends in percentage terms. You not only get the dividend, but (on-paper) capital gains as well. Be wary of companies with low PE's and a high dividend. Weed out the ones that are in trouble.
I don't believe for one minute that you lost the ENTIRE 10M on crypto!! I also took a massive loss with crypto, but I did NOT LOSE EVERYTHING!! And I suspect that you also DID NOT LOSE EVERYTHING!! Crypto crashed by about 75-80% So how can you say you LOST 100%???? If you had 10M invested than you should of still had at least 2M worth of crypto even at its lowest point!
I used to watch your videos when you got only 18k subs or less, and I was 17 years old and wanted to do amz fba. Time files. Best of luck. Maybe its a sign from God, Dont lose hope, my friend.
Well I relate to you the only difference this happened three times in my life three big cycles. Now going up again fourth time I’m retiring soon!! From the age of 18 to 62. You sound like an Aussie I’m ex Aussie now American resident and Canadian citizen. In the end it’s all a ok if it’s not ok then it’s not the end.
I'm half sharing this because I know some others who made big wins and also took big losses in the last couple of years. I think eventually, anyone who aims big enough will go through something similar. And what matters is how you come out the other side. Would love to hear your own personal stories as well, leave me a comment👇
Myles I'm abit confused, did you lose all 10 miillion permanently or are they at a negative say for example -75% or -50% and u can hold and let them rebound for the next bull market? because if it is BTC or ETH it shouldnt be an issue? just hold and be patient?
@@kwwk4362You're right he says my $10m went to zero, and in the next breathe he says he lost half his wealth. Which means you still have $10m? LOL.
Always a treat to see an MD video notification! I've had a very similar series of events to what you've gone through (throw a little heart break into the mix to make it extra dark:)).
Exit. A seemingly endless string of things i wanted coming true. Then coming to the sober realization it didn't make me any happier (or worse...the realization it wasn't what I thought it would be). Then having roughly 1/2 of it dissipate. Capstoned by an ensuing ego death and searching for who I really am.
It's a tough journey of hard yards. One that put me on my knees with some of the most despair i've ever had.
But it's true that one of the biggest change agents and course correction mechanisms the universe has to get where we need to be is darkness. Sometimes it's the only nudge that works.
It really is the simple things that matter once you've got the necessities covered. Truly enjoying the present moment. Observing the 'good' and 'bad' things in life without attachment. Realizing who you really are, outside of labels & thoughts. Friendships. Being outside. A glass of wine on a patio. Kindness of strangers. Deep conversations. Having people that truly love you for who you are.
Glad you're coming out the other side brother. And i'm sure Myles 6 years ago, and future Myles on his death bed, would want nothing more than you be where you are right now - precisely in this moment.
Much respect & love, as always my friend.
Adam, I'd love to hear your story of how you've lost almost half of your exit money in one of your videos. Of course only/when you're ready and willing. I think not enough people talk about the "other" side of "richness".
Thanks Myles for sharing your story with us!
Great post Adam
@@AnastasiaPiccoLittle Mine was primarily divorce, and there's certain things that involve other people I wouldn't share publicly. But I always try to give my take on business and life when it feels right and I think it will help.
I'll have more news on a new YT channel this Fall.
My story is EERILY similar. A few years ago after meeting with my accountant/business advisor, which I’d do quarterly, he confirmed all of my calculations, assumptions, predictions, risks etc, it became clear that my years of careful planning, heavy savings/reasonable non risky investments, continued sustainable business growth etc, had paid off and my lifelong financial security was guaranteed when I was 50. Because my primary goal has never been to become ultra wealthy, I have zero high risk high reward investments, and no plans of building another business for additional streams of income, because I don’t need it to live even above my current level of a blessed lifestyle. However, within a month of the realization that I “had made it”, I became something I didn’t recognize. My brain HYPER-FOCUSED on finances, expenses etc, and unilaterally decided to pay the remaining home mortgage and my few rental home mortgages off within a year to have zero debt, which then created stress. One morning I literally blew up on my wife in front of the kids after ruminating all night about that months credit card bill. WTF? I artificially created a problem, an artificial timeline, etc sort of like I needed to feel financial scarcity that wasn’t even there. She felt like money was more important to me than my family, and I almost lost my marriage. I had been planning and saving so long that I just couldn’t turn it off. Just like this video stated, I started on focusing on concepts like ultra wealthy incomes/net worths etc, and I think in my mind I moved the goal posts and could see that line of thinking leading to true unhappiness, because you’ll always be able to find someone who has more, is better looking, appears happier when viewing on the outside etc. I think greed and envy were becoming magnified in me, and it didn’t start until I had reached my goal of financial freedom and the peace of knowing you won’t outlast your money and never struggle financially. How crazy is that? Fortunately I’ve dramatically changed and am much happier. I’m now happy to spend a bazillion dollars on delivery services like daily door dash, delivery grocery shopping, home pick up laundry etc, because I know it makes our life simpler, and although yes we don’t have to pay someone to do things we can do and historically have always done, time is our greatest asset. I use to see such things as frivolous and wasteful, but if we can easily afford it and doesn’t in anyway hurt our future, then I’m all for it, and we are much happier. Sorry about the ramble, but I know exactly how it feels when you said money doesn’t being you happiness, can actually negatively impact your happiness, which can create interpersonal conflicts, lead to divorce etc. I still stay on guard for these obstacles, but am very happy I learned my lesson. I think high achievers have a hard time of knowing when it’s time to relax and enjoy your hard work….and get out of the way now before you ruin it.
Something which I have grown through personally. Took some time to stabilise things, bt in my case it was covid that hit strong. But it's always great to see you back.
What a beautiful story! Beautiful because there is a dream come true, then there is greed, darkness, loss, acceptance, enlightenment...But I wonder...Knowing that money is now what I truly want ...does it slow me down on my way to reaching that goal? 😅
Awesome to see you again and hear you talking about the essentials - seeing LIFE right where we are. Beautiful.
I'm happy that you figured everything out in the end. It might wind up being the best thing to ever happen for you in order to live a life you will now truly love.
I stumbled on this video after going through my morning wakeup, meditation and coffee routine. It has the perfect vibe for what I needed to hear right now. Thank you for helping me keep centered. Much love, man.
Can totally relate to this video, I feel many of us were effected by not taking profits at all or knowing we could have taken more if we did take some. I feel your story and connect with it deeply. The goal now is to start over, build a profitable business from the ground up and make the most of life, with family and friends. Do more, even if it's a trip out to the park, or a hike in the forest. Doing these things is the best medicine for mental health, it really is. I wish you all the best!
Stay strong bro I’ve also lost more than $10million cash and I can relate. You’ll overcome this. In time. Attach a different meaning to the lessons and stay detached as much as you can.
Full respect for sharing this mate. I think sharing this, will help in a massive way, too unload it for the world to see! Your right, its the simple things in life, that really matter. Your smart, young, with plenty of time on your side, keep striving forward bud 🍻
Sorry to hear that Myles, but thanks for sharing. Sounds like in the long run everything is still A Okay!
On a side note, I've been missing you like crazy. I still go back to the old class lessons from your course to see if I can dig out a gold nugget that I missed before.
Thank you Myles! This retire early movement has landed in my country, and its doing so much damage, if you dont smell the roses, and dont enjoy the process and your transformation, just consumes you ending like Gollum, sadly obsessed, your obsession and no life lived. Thank you for sharing, peace from Chile.
Thanks for sharing your story and experience! Having followed your UA-cam 5 years ago about Amazon and was very very useful. Still remember watching your video about to quit teaching Amazon in UA-cam and felt sad. Great to see you again with more rich and mature life experience! Please post video regualarly and update how you are! From Hong Kong
Wow! Thanks so much for sharing this story Myles. Very interesting learning, that you could just as well be in your 'own rat race', even when you are an entrepreneur. I am lucky myself that i am not chasing the numbers at this point.
Today i am signing the contracts for 2 more chalets on a very nice camping near me. Then i will have 3 chalets in total to rent out. 2 other friends bought 3 more chalets. They will sign as well today.
We are on the same street, and apart from 1, the 6 chalets will be right next to each other. I spent months on talking to people and getting this done. In a way, i am combining joy, friends and doing what i love all in one thing. It's never been about the money (even though it's necessary). Because if you focus on the good stuff, the money will follow automatically.
Your final lines hit me. Thanks man. Have a great day.
Hey Myles. Thanks for sharing this lesson. I think it’s for the better. Imagine if everything did go well in this case and you would have lived on pretending in a role for years or decades to come. One day you will be grateful this happened!
I know what it’s like to have your identity wrapped up something like a title or career and something happen and you lose that. It almost drove me to suicide. But, it helped restore my relationship with God. Man, dark times though. THanks for sharing, and glad you’re on this side of it.
Hello Myles, thank you for sharing the story and being vulnerable. I cannot imagine what it feels like to go through those ups and downs. I certainly found the story insightful and it resonates with a stage I want to achieve one day.
I love your quote “I know which one of these really makes me rich” it’s the great friend with whom you had an amazing time that day, not the money in your bank account. Amen brother
Great story and lessons. Shame you had to go through it, but imagine the knowledge will make you a load more in future. Also, welcome back to UA-cam! Looking forward to the new content.
Thank you my friend for sharing. All the best!!
10 Million loss. Wow! Not sure I could ever get over that. Hats off to you and your outlook.
I can relate...lost my home in Florida, in the crash of 2008/2009, only to watch it sell in 2021 for over $1,000,000. This money was to set me up for retirement. I went through all the emotions you've described. Painful experience.
its just human nature....its in all of us.....I've done the exact same thing; just not with millions; only with hundreds of thousands....thanks for sharing.....you will help more people with these lessons than all the "look how rich and successful I am" videos that we normally see from others on youtube.....
Thanks for sharing Myles. Sometimes it's the simple things in life that matters most. Good to have money, but being content is best.
Good to have ya back on YT mate. Keep ‘em coming
loved this story and your vulnerability - thanks for sharing
Kudos Myles for sharing this very personal story and hopefully one in a lifetime experience for you.
This can’t be easy to come out into the open, but I am sure it is an important part for your healing process.
I wish you the very best. Keep coming these great videos and stories, highly encouraging.
Thank you. You’ve saved me the need to record this video, my story has been said. ECom, crypto, stardom and capitulation. Perfectly said.
Been following you for years, best video you’ve ever made
I can relate to your story allthough on a much smaller scale, I never achieved FU money and was never as successful as you so actually I have less to miss after losing most of it lol.
Naked we come into this world and naked we depart, my 96 year old childless auntie died with millions in the bank recently, She could have really helped so many people but ended up leaving it all to other rich people, money was her security and bargaining chip in many ways - GOD Bless her Soul. Provide for yourself and family to live a decent life, give your excess money to those in need and store up your true riches in heaven.
Great video, you should do more. it's been a while and you're good at it! I am working my way to my retirement number and thinking of all the time I can spend with friends and family and the places I can go. The final number is irrelevant, its the freedom to take stock and appreciate life. Looking forward to the next one.
Beautiful video honestly I needed to watch this much love Myles
i have been following you now for a few years and it's crazy to see your journey and evolvement. It's like we know in advance chasing all this money and getting rich won't make us happy yet we only truly accept it when we become rich.
I'll be talking a bit more about this in future videos, that's for sure..
Well Done on all you achieved. Keep HODL’ing, it will double again. Lesson learned. Onwards and upwards.
I never leave comments on any of the channels but you are someone special… You will be successful again soon and next time am sure instead of 10 Millions it would be 20 Millions
Wow, everything for you, came full circle, starting from your basic, pre-wealthy lifestyle/mindset to your extreme hunger and pursuit to make millions, while not feeling comfortable in your own skin, then to run it all back to that simple, relatively humble goal, you set out with, on your journey to financial freedom. Appreciate your insight and good luck to you in all your endeavors Myles!
Thank you 🙏
I am glad that you took this as a “ needed to happen “ thing. I can notice your energy has changed compared to your previous videos. And I hope that these lessons will make you decide better in the long term. Thank you 🙏
Interesting story - thank-you. I think I'm at my retirement number and kinda don't see the point to work like I once did anymore but also find it hard to let go of the profitability I'm used to.
Thanks for sharing your story. I had a similar journey of making it and losing it. After many, many self analyses and reflections, I think my problem was my "mindset". As much as I wanted the big money and the good life, my subconscious was not ready for it. When I made the money, my subconscious was uncomfortable with it. My outer world did not match my inner world. So it systematically set out to get rid of it. Every investment and business venture I tried lost money. Next thing I knew, I had very little money left. My net worth probably went down to the level my subconscious was comfortable with. I think it's similar to lottery winners who always end up more broke than they started. They were just not ready for it. I know it sounds "hocus pocus" but it's something I keep in the back of my mind.
Good to see you back Myles. I used to follow your youtube channel for your Amazon seller insight and your Crypto videos. After the crash you disappeared and I did wonder what happened to you, and other You Tubers who posted those Crypto videos. Well done for getting to the stage where you can share your experience, and come full circle with things. Wishing you well on what comes next for you. Looking forward to watching more videos with your new perspective on life.
Respect for sharing and coming back stronger and wiser. It's nice to see that you're doing well. I also lost a ton of money in the recent bull market. It's nice to know that we're not alone and that it's okay. Appreciate the honest insights, your integry really shows. Lots of love.
Great stuff! stay strong(Clear head and healthy) and find a purpose in your life
I had at least three months during the last crypto bull run where I could have cashed out with 1 mil+. In the end I made it out with 200K (started with a lot less). Still hurts, but lessons were learned.
Very impressive video editing and a great story.
Thanks for sharing your story with us, great lessons learnt❤
I worked with a guy that worked at many startups and he said "some people will just never sell". i.e. they could have retired early but they got greedy. Yes you kick yourself when the stock just goes up and up, happened to me but it has also gone down down down. I remember being at $40k and I road it all down to $18k and it dropped to zero in the next 6 months.
As an ex HS pro poker player I had a simmilar journey to yours and also experienced many cycles of ups and downs with all the emotional rollercoaster that comes with it. If you keep the sums LOWER (for your perception) you build resilience and experience if you keep repeating these cycles. Now I am joining the amazon game too, just because it seems fun 🔥😍
Thanks for sharing bro, this is top notch advise 🙏👌🏼
Thank you for sharing. I had a similar journey and came to the same conclusion
i learned this lesson when i bought a car thinking it was great buy... after three months sold it for 50% loss.. i saved money whole to buy the car and sacrificed my life.. now I try not sacrifice for shitty object.. just try enjoy what you have ...
Had a similar experience, not with those kinds of numbers but the numbers don’t really matter, ultimately the lesson is the same because I came to the same conclusions. Thanks for sharing
Deep, brother. Deep. Thanks for sharing.
I don’t understand. The bottom line is you got 10M from crypto and lost it, but you still saved the Amazon business sale? Or did you gambled it all and lost everything?
Thank you for sharing your story. Many people need to hear this. 💸The same thing happened to me in 2022. #TakeProfits #CashOut
Be humble. Keep costs low. Build a strong foundation. Be able to survive the ups and downs of the markets.
Great video Myles. Let's partner up and build another Amazon brand! ;) ahaha jokes. Thanks for sharing this man.
Not using an opportunity to make money does not equal to losing money. This is why you can still smile when talking about this, it di Not break you financially. As for the passive income I feel like this is a mirage, dream. Too many people want to live like this, so this will not be sustainable in the long run.
Great content and advice. Thanks for sharing
I’m a frugal guy as well. Honestly my goal is $100k a yr but I would probably only use $50k and donate the rest to a charity.
Are you serious? I don’t believe this for one second
Wow may God fulfill your wishes
@@wangmowangmo9348 and that’s why people say this sort of thing. They believe god will make it so.
Very interesting story, and it makes me wonder how many others go through this. Were you able to maintained the millionaire status, even through the $10 million loss? If so, you can still enjoy everything and not have to go work for someone else. That's a win.
Damn, I had no idea man. Great video!
It has been an honor to share this journey with you, Myles! I am grateful that I got a chance to work with you and learn from you... It all started because of the business, but it turned out to be a friendship for a lifetime. 🙏 BTW I have a similar note in my Journal about that hike in the Canary Islands! 🌄
I personally lost 94% in this bear market. It was horrible. I never wish that to anyone. Yet, here we are on the other side, present and alive, enthusiastic, empathetic. It wakes you up. One bear market is like a lost life chance to completely turn your life to something monstrous, whatever you believe it can come true. But the question is, will you take the money after all, and not buy other tokens and try to make even more money after making so much that you would not even think about money anymore. This is the bubble everybody must survive. Take profits guys.
Oh god I'm horrified thinking of the short term cap gains taxes 😭
GREAT VIDEO! i have zero, but I dont know i still felt what you're saying thanks.
I lost 200+ Ethereum too, about $1M, it was a Phish web wallet.
You didn't lose 10m though as crypto didn't hit 0. I used to learn from you how to build amazon then you quit and I thought you were totally done! Now you're back. Keep going strong dude 💪
Great video Myles! Are you still going to put a bit of money into crypto? Hoping for the next bullrun?
Thank you for this video!
Very Similar story just with two digits less. lost around 90k from 2022 crypto crash at age 24. Also lost remaining 44 k because of FTX and Luna. To be honest, it was the best thing happened to me. Was depressed and angry for three months but changed my mindset for ever, understood real people around me. Now I'm just enjoying my life, appreciate little moments, got a good job in a great company, have a small business which produce real values.
Didn’t get how much you were in with your money but rule in investing on stocks or crypto is that is not your money at least till you sell.. anything in between your entry and when you sell is just virtual.. you can go to 100 millions but if you don’t sell is like having 0.. if you think like that you will not suffer this much
Hey Miles
Long time ! I wish worked that out at your age took me 50 odd years.
Enjoy
What a story! Wild ride!
Quite an expensive masterclass on greed.
Greed and love! usually the most expensive lessons
Lucky you caught it while you only lost half! In that case the lesson was worth the cost
Are you starting at 0 again or are you still a millionaire? I might have missed that part. I think the stuff you are talking about is the hedonic treadmill.
Needed it. Thanks
Investing only in S&P500 then you won't have to experience all the shit~
Thanks for sharing your journey! It's nice seeing an honest perspective from someone who's come full circle.
I'm currently on a leap of faith. Leaving an employer after 26yrs of dedicated service. Unfortunately, loyalty isn't always a 2 way street. They shitted on me and i made the tough decision to leave.
My belief in the direction of cryptocurrency & Blockchain technology, guided my investments into the space.
Although on a much smaller scale, i missed a 160k opportunity from a 20k investment in 2021. Greed, thinking prices would continue to rise, and not taking profits had me in the same position.
This time around, I'm more focused, with a profit taking strategy to ladder out.
Thanks again for sharing!
Hey Myles, I ended up losing nearly everything on FTX, Blockfi, Celsius, etc. and other crypto exchanges (held BTC for many years and I would actually have been okay). I was in ecommerce management too but some critical partners left the space. At it's peak my net was around $2 mil. I just finished a coding bootcamp and options trading for small monthly income, but tech is really hard to get into right now. What are your next steps forward?
Tough losses.
No losses, just lessons learned.
Learn self custody, buy a hard wallet and keep some crypto on them.
Stay away from high yield promising exchanges.
Nothing 100% safe investing, but diversify helps.
Safe travels 👍
7 million bank transfer…howvmuch does irs take from that 30%
Smartest thing you ever did was sell your Amazon biz for a lump sum. You got out when the going was good. The dumbest thing you did was trust Alex Mashinsky. Look, it is what it is, we live and learn and move on. Your right, stop serving your ego to look good in front of other people it just a downward spiral if that's your priority. Thanks for the update.
Always set stop losses people.
I just knew from the start of the video it was going to be crypto......
haha, Playa de Las Canteras, I'mfrom Las Palmas de Gran Canaria and live 5 minutes walk from Las Canteras... what a surprise, I'm a Amazon seller too. Ah! and I have lost a good amount of money because of a trading ponzi scheme....
What I learned is, the world goes from calamity to calamity. Don't be impatient. Wait, then invest after the calamity. Invest in real cash generating businesses that at the bottom of the stock market pay fantastic dividends in percentage terms. You not only get the dividend, but (on-paper) capital gains as well. Be wary of companies with low PE's and a high dividend. Weed out the ones that are in trouble.
Yes finally some realness on yt
Very very cool my man
Good video
whats the subreddit for decamillionaires? FATFIRE? or is there one that Myles use to peruse?
Fatfire, yes
Good perspectives on there although it has a bias, like anywhere else
I think you didn’t “lose” 10M….
It’s just that you didn’t “earn”/“take profit” that 10M…..
So this the learning from losers method? Lol. You can learn what not to do forever and still don’t have a clue of what you should do.
I don't believe for one minute that you lost the ENTIRE 10M on crypto!!
I also took a massive loss with crypto, but I did NOT LOSE EVERYTHING!!
And I suspect that you also DID NOT LOSE EVERYTHING!!
Crypto crashed by about 75-80% So how can you say you LOST 100%????
If you had 10M invested than you should of still had at least 2M worth of crypto even at its lowest point!
Nice
nice
❤
I lost 200,000 mom an dad pissed
Wauuuuu
lmfao, lets be honest, you did not lose 10M.
I used to watch your videos when you got only 18k subs or less, and I was 17 years old and wanted to do amz fba. Time files. Best of luck. Maybe its a sign from God, Dont lose hope, my friend.
Well I relate to you the only difference this happened three times in my life three big cycles. Now going up again fourth time I’m retiring soon!! From the age of 18 to 62. You sound like an Aussie I’m ex Aussie now American resident and Canadian citizen. In the end it’s all a ok if it’s not ok then it’s not the end.