The Wasteful Surprises: Lessons from a Wasted PhD and Bitcoin

The Wasted PhD

In the realm of education and career, sometimes the career paths we embark on don't quite pan out as anticipated. I spent four and a half years earning a PhD in education, which didn't yield me a tenure-track job. Although it wasn't a complete waste, the journey was bogged down by meager earnings, which is typical in such situations.

The experience of pursuing a PhD made me realize the importance of career planning and the financial implications of academic pursuits. Despite the sacrifices, this period wasn't entirely a loss. The knowledge gained and the skills acquired have been beneficial for my current career.

However, there were moments during the PhD program that felt like a waste of money. One such instance was the significant investment in various therapies for my autistic son. Many therapists and special educators would push for more sessions and additional expenses, which often seemed like a way to tap into the parents' desire to do anything for their child's well-being.

Eventually, we decided to forgo further investment in these therapies, recognizing the lack of meaningful results or progress. This decision was based on the advice from therapists who were honest enough to tell us which therapies were not worth the money. Parents often seek such therapies with the hope of making a difference, but the reality is that many of them are at best marginal in their effectiveness.

The Lost Bitcoin

Another regretful expenditure in my life occurred when I bought almost two whole bitcoins in 2013. At that time, each bitcoin equaled about 300 USD. Unfortunately, I used a portion of these bitcoins to make purchases on what is now famously known as the 'original Silk Road,' a dark web marketplace notorious for illegal activities.

Had I not spent that money through Silk Road, it would be worth approximately 200,000 USD today. This incident highlights the volatile nature of initial cryptocurrency investments and the risks involved, especially when making impulsive decisions in an illiquid and highly speculative market.

The Unnecessary Purchase of a Laptop

Back in 2013, I made a purchase that seemed unnecessary at the time: a Dell laptop for around 48,000 Indian rupees. At that time, the exchange rate was approximately 36 rupees to the USD. Today, the same amount would be worth around 67,200 rupees (1500/36). I confess, this was not a wise use of funds given my primary uses were watching YouTube and checking Facebook.

Luckily for me, I quickly found an opportunity to repurpose the computer by passing it to my younger brother. He utilized it for photography and film-making, which he found incredibly useful. In the present day, I use the laptop to prepare for civil service examinations, putting the computer to good use.

Recycling and Frugal Living

One lesson I've brought with me is the value of frugality and recycling. Throughout my life, I've managed to avoid compulsive purchases and regrettable spending. Instead, I have focused on extending the lifespan of items I own to the maximum extent possible.

I proudly wear my late grandfather's shirts, which are over 55 years old, and still active. My grandfather's Swiss Tissot Rado watch, which he wore in 1930, is still operational. I ride a 1985 second-hand Avon bicycle, which I received for free, and a 1998 CRT TV monitor. These items represent my commitment to reducing waste and making the most of what I already have.

Even when given free items, like the wireless modem-router I sourced from a scrap shop for 15 rupees and used for saving 1500 rupees on broadband services, I find creative and frugal ways to benefit from what is available. My 2002 feature phone is still functional after four battery replacements.

Crucially, my lifestyle is deeply influenced by my Krishna Consciousness, which encourages living simply and avoiding wasteful spending. My family and I prioritize aesthetic and functional elements over unnecessary expenditures. For instance, our 50-year-old LPG gas stove is still in use and functioning after modifications to fit PNG connections.

Key Takeaways:

A PhD isn't always the best career path, as it may not lead to a desired job or high earnings. Treatments and therapies for special needs can be expensive but may not be as effective as hoped. The early years of cryptocurrency investments can be highly unpredictable and risky. Frugality and recycling can help save money and reduce waste.

These experiences have shaped my perspective on financial planning, career choices, and the importance of being mindful of one's spending.

Further Reading:

Swami Aniruddha's answers on Quora Swami Aniruddha's research papers Swami Aniruddha on ResearchGate