Right. Many of us are on our way. It will take time. Doesn't mean we don't know anything and aren't applying it as we go.I've heard good advice from low net worth people. They didn't have a lot but they were doing the right things, building their wealth. I've heard bad advice from high net worth people. They got lucky, right place at the right time, and didn't know what they didn't know. I've co-founded and built software startups, so I've met MANY of those people.
Most of the wealth managers I've worked with over the years have been worth less than I am. But it would be silly to hold that against them. Just because I know enough to have some moderate success, and I'm older than them so I have the advantage of time. I'm wise enough to know what I don't know, I've made mistakes too, it's not my "day job". They've given me some good ideas and advice. But I didn't take their word on faith, I took their advice and did my own research. Trust but verify, take any wealth management advice with a grain of salt and do your own homework.
Companies aren't putting billions of dollars worth of Bitcoin on their balance sheets (instead of gold) for nothing. Tesla, Microstrategy, many more that haven't even disclosed it. Countries are buying and holding it. And many more will once it becomes easier.This is the most boomer take I've ever read.
Crypto has been around for over a decade, is being adopted by governments, banks and MNC's.
Odds are you know someone who never has to work again because of crypto.
If you're not bullish on crypto you're willfully ignorant.
Gambling is a tax on people who are bad at math.13 pages and no one yet mentioned winning the lottery?
If you're not bullish on crypto you're willfully ignorant.
Company CFO's aren't putting billions in "tulips" on their balance sheets for nothing.
Get-rich-quick schemes rarely work out as promised.
If you're not bullish on crypto you're willfully ignorant.
All the bitcoins If you buy all the shares of (for example) Tesla, you own a car company.
If you buy all the Bitcoins, what do you have?
Looks very reasonable, depending on your age and how long you expect financial repression to last (and also assuming you live in Australia - otherwise it might look a little weird!).
I occasionally indulge for grins, and buy a single ticket. My reasoning is that if I buy one ticket, my odds of winning increase greatly, from 0:[Some very high number] to 1:{Some very high number]. But no remotely sane number of additional tickets will significantly improve my odds of winning beyond that first ticket.Gambling is a tax on people who are bad at math.
This guy is missing the forest for the trees.Then I'm in good company.
https://markets.businessinsider.com...ni-neither-currency-nor-asset-btc-2021-5?op=1
Another maxim I've learned after more than 20 years 'on Wall Street' is never to confuse wealth or income with knowledge, talent, ability, or ambition. And no, I'm not talking about the clients...There is an old trading adage : "Don't confuse brains for a bull market"
Thanks! Yep, live in Australia, and I am 32.Looks very reasonable, depending on your age and how long you expect financial repression to last (and also assuming you live in Australia - otherwise it might look a little weird!).
https://www.coingecko.com/en/public...Unu8bwgvx8o-1631066113-0-gqNtZGzNAfujcnBszQlRI would be very interested in seeing these balance sheets, and the percentage speculation (in any form) occupies on that ledger.