Don't spend too much time and energy thinking how to save a few dollars and cents. The decisions you make on bigger items like house, car, portfolio, etc will swamp any of that nickel and diming.
(This is why I don't bother lining up for Costco gas anymore.)
It's not advice, but my parents going bankrupt helped a lot.
I also had a college friend with a Rich Dad (most of them had Rich Dads come to think of it), but he lived his father's advice so I got it second hand.
I legitimately never got a single piece of useful financial advice from anyone, I had to learn everything on my own via books and podcasts and it was only after getting into bitcoin.
In my mid-20s I had a decent-paying job in Moscow and was desperate to learn so I asked the richest guy I knew (an expat who worked for Baker Hughes from our local bar).
His qualification was that he was making 20k a month USD and had all his bills paid by his company - this was when 1k USD was the average in Moscow and if you made 3k USD you were a fairly serious baller.
His advice was: 'save 10% each month and read the Millionaire Next Door' lol
That was it, the best I got!
No mention of fiat, economics, trying to own assets, or even gold. Just save some fiat. I took the advice and then spent all my savings within a few months after I lost my job.
I used to ask him when he didn't just buy a house or two and rent them while he was living in Russia and he just wasn't interested at all. He could have acquired all kinds of assets.
I tried reading Tony Robbin's book about mastering the money game, and apart from it all being America-centric, you needed a brokerage account (when they were expensive) and it kept banging on about the magic of compound interest, but it just made me sad because banks basically weren't even paying interest, so what was I supposed to compound!
Pretty fucking depressing, but thankfully we have bitcoin
Generalized, sometimes pathological thrift, from a lot of family members who experienced hardships. That's stuck with me.
Index funds instead of picking stocks. From a lot of finance books.
And them more recently...the book The Bitcoin Standard blew my mind. It's not yet, but I think it may end up being the best financial advice I ever got.
don’t go into debt to buy depreciating assets
What I said
Whatever insight you think you have is probably priced in already.
Retail is always the last to know anything.
Not unless you actually do your research and see the bigger picture.
Just buy Bitcoin and don’t think about it
Don't spend too much time and energy thinking how to save a few dollars and cents. The decisions you make on bigger items like house, car, portfolio, etc will swamp any of that nickel and diming.
(This is why I don't bother lining up for Costco gas anymore.)
stack stats, stay humble
Bruh!
Never finance a new car. Buy a car you can afforndonlay cash for
It's not advice, but my parents going bankrupt helped a lot.
I also had a college friend with a Rich Dad (most of them had Rich Dads come to think of it), but he lived his father's advice so I got it second hand.
Make sure that every dollar has a purpose
I legitimately never got a single piece of useful financial advice from anyone, I had to learn everything on my own via books and podcasts and it was only after getting into bitcoin.
In my mid-20s I had a decent-paying job in Moscow and was desperate to learn so I asked the richest guy I knew (an expat who worked for Baker Hughes from our local bar).
His qualification was that he was making 20k a month USD and had all his bills paid by his company - this was when 1k USD was the average in Moscow and if you made 3k USD you were a fairly serious baller.
His advice was: 'save 10% each month and read the Millionaire Next Door' lol
That was it, the best I got!
No mention of fiat, economics, trying to own assets, or even gold. Just save some fiat. I took the advice and then spent all my savings within a few months after I lost my job.
I used to ask him when he didn't just buy a house or two and rent them while he was living in Russia and he just wasn't interested at all. He could have acquired all kinds of assets.
I tried reading Tony Robbin's book about mastering the money game, and apart from it all being America-centric, you needed a brokerage account (when they were expensive) and it kept banging on about the magic of compound interest, but it just made me sad because banks basically weren't even paying interest, so what was I supposed to compound!
Pretty fucking depressing, but thankfully we have bitcoin
Not everyone who changes wins, but those who don’t change always lose.
Dont spend money you dont have.
Don't worry about picking individual stocks and just buy an index fund. Well and bitcoin :)
Spend your time in learning how Bitcoin works, that's the future!
90% of asset managers, after fees, cannot beat S&P500 ETF
Get a 35 year mortgage 🎉
Dont take financial advice from anyone. Do your own research. Asses your risk to reward ratio and never get too greedy
cant beat the market without deviating from the market.
maybe: Predictions cant have value https://authory.com/JoakimBook/The-Paradox-of-Prediction-af82c8f2461204f799aa95acdecd7050f
Fiat is trash and Bitcoin wins. Start educating yourself so you can be in the know.
Be greedy when other people are fearful, be fearful when other people are greedy.
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