I’m turning this dent on my beloved 2003 car into a $1m.
Here’s how.
So someone reversed into me while I was parked. 🚗
Luckily I was in the car.
After an assessment, their insurer declared my car a write-off! 😯
And offered me $3,995 for it.
So I did what any Bitcoin maxi would do.
I bought Bitcoin with the money, and now call that mark my million dollar dent. 🤑
Thank you, inattentive soccer mum! 😝
I have ‘a friend’ that has decided, instead of paying capital gains tax right away, they’ll defer it, incur the 11% interest, and invest it in Bitcoin…
With aim to arbitrage the 11% loan from themselves (that the ATO will eventually steal), into a gross 45% - 55% return over the next few years.
Yielding a tidy 34% - 54% net profit.
I must say…
I concur. 😝
People understood scarcity when it came to toilet paper during Covid. 🧻
To the point where they’d fight over it in supermarket isles.
But give them scare money, and they think it’s a Ponzi scheme.
Like wiping their ass is more important than preserving their life’s savings.
WTF?! 🤷♂️
Study #Bitcoin
A Muslim Uber driver recently told me he doesn’t believe in Bitcoin because it’s made up money.
Long road ahead to educate people on this, but that’s part of the fun.
If humans make up gods and religions to predict what might happen after death…
it’s no surprise they try to predict things like the price of Bitcoin.
Bitcoin what about this:
Just like no one will ever know what happens after death…
let’s all agree know one can predict the price of Bitcoin.
All we know is… it’s going up forever.
That’s all you need.
That’s enough.
//
So spend less time guessing the unguessable, and more time orange-pilling your loved ones.
During a ride, my Uber driver said everything is getting too expensive.
I asked him why he thinks that is.
He said money is as worthless as toilet paper. 🧻
I asked why.
He then proceeded to talk about everything but inflation.
Bad education.
Immigration.
Social media.
I asked him if he knew about Bitcoin.
He said, as a Muslim, he doesn’t believe in made-up money. 🤷♂️
But he also said he knew some with Bitcoin that were very wealthy.
I wasn’t in the mood to orange-pill someone so blind to what’s going on, but it did make me remember how freakin early we are.
If you’re aware what #Bitcoin is and know just a little something about the problem it’s solving, you’re very, very lucky.
Well done!👊🏻
Just watched the latest @saylor x @saifedean interview/debate.
I think it’s useful to remember Saylor is a billionaire, and Saif is probably more like the rest of us Bitcoiners (for now).
Billionaires are very used to leveraging trusted custodians and financial institutions to protect and grow their wealth.
Because, if setup without single points of failure, win-win arrangements with third parties can be more robust and opportunistic than if operating on your own.
//
So it’s no surprise to see Saif not wanting to trust or use any third parties, and Saylor being okay with them.
It’s a pleb vs billionaire thing.
And there’s lessons to be learnt from both sides of the fence.
Conclusion: Neither Saylor or Saif know what’ll happen.
But that doesn’t matter.
You just need to know Bitcoin is the winner and allocate accordingly.
Simple. 😍
If Bitcoiners have such a high time preference, why the fuck is every other tweet about hitting $100k… or a mil… or $60k being the new $10k?
Instead, approach your Bitcoin strategy like a property investor might:
Buy as much as you can, as soon as you can, regardless of the price….
Then look away for a decade or 3.
It’ll marinate in the background and reach a kazillion dollars without your inaccurate price guesstimates along the way - I promise.
That said, I know y’all talk about it so damn much because you’re the most passionate psychopaths on earth…
Which I love. 🥰
Religious texts and books exist that you disagree with.
Should we ban them?
No.
Just don’t read em.
//
Music exists that you can’t stand.
Should we ban it?
No.
Just don’t listen to it.
//
Restaurants sell food that you don’t like.
Should we ban them?
No.
Just don’t eat there.
//
Entire countries have a culture and way of life you disagree with.
Should we ban them?
No.
Just don’t go there.
//
The sooner the government realise the free market decides what it wants, not politicians, the better the world will be.
Oh… I almost forgot…
‘Fuck you’ for considering this absurd censorship, Albanese! 🖕
(And if you don’t like this tweet, as a human, you have the freedom to unsubscribe - cool, right?!)
Everyone will tell you they want ‘financial freedom,’ but 99% of people can’t explicitly tell you what it actually looks like for them.
Let alone how they’re going to achieve it.
They don’t spend the time to work out how much income and assets they need to consider themselves financially free at some specific point in the future.
Which means it’s impossible to reverse engineer what they need to do TODAY and over the years to achieve it.
Sure, some people invest.
But it usually has very little thoughtful intention behind it.
Like, they’ll buy one investment property and ‘see how it goes,’ then reassess the plan to get another ‘down the track.’
This is flimsy, poor-person financial planning.
And is guaranteed to fall short of your actual goals.
//
Instead, be specific.
And time-bound.
Like this:
1. I need $X to pay off the house where I want to live.
2. I need $X/year to never have to work again and live a comfortable, fun, fulfilling life with my family and friends.
3. I therefore need to acquire $X asset base, by X date, which needs to increase by X%/year to be worth $X by my desired retirement date.
4. To minimise future capital gains tax (CGT), I need to acquire these assets in entities that give me the most flexibility for tax minimisation if and when I need to sell them or pass them on to loved ones.
5. And most importantly, I need to account for inflation of AT LEAST 7%/year when crunching these numbers.
//
So, here’s an example of what a simple plan might look like:
I want to pay off my $1m home, plus have an additional $1m for retirement in 20 years, and that $1m will generate me $50k/year to live on.
And let’s assume you’re okay to pay off your home from working.
So, first of all, to have the equivalent of $1m in 20 years, you’ll actually need $4m, because the money supply doubles every 10 years.
But the good news is, so do traditional assets (like property, stocks etc).
So you’ll need to acquire $1m worth of assets today that will double in value twice over the next 2 decades to arrive at $4m worth of assets in 20 years.
Thats a lot for most people of you’re not using leverage or don’t have equity in a property to use.
And don’t forget, you’ll also need to consider any loans you’ll need to pay out (like an investment loan), or any capital gains that might be payable if you sell the assets.
So in reality, you may need to acquire more than $1m in assets to absorb those costs that’ll eat into your $4m nest egg.
//
Now, this all begs the question:
Is there a better way? 🤔
And by better, we mean faster, right?
And yes, there is.
While traditional assets plod along at 7-10% compound growth per annum (basically because they’re tracking inflation), other assets are shitting all over that and doing 50% compound growth per annum.
Choosing the apex asset that is doubling your asset base every few years instead of every 10 years executes your financial freedom plan in a matter of years, rather than decades.
The punchline?
Your investment vehicle of choice fucking matters.
Like, A LOT.
I recommend studying #Bitcoin to learn how it can help you achieve your goals much faster and live the amazing life you and your loved ones deserve.
And yes, that is financial advice. ✅
Happy Friday, friends. 🥰
Bad news.
Working hard your whole life and contributing to society in a meaningful way isn’t enough to retire anymore. 😢
I’m currently helping multiple people plan their retirement, and even at 70yo, the current broken system forces you to be your own financial planner until you pass.
Ridiculous decisions you’re forced to make that will determine how much of your life-savings you get to keep include:
- I’ve built up an asset base of retirement funds/property/stocks - now what? How do I structure my assets to generate an actual income until I die? 🤷♂️
- If I need to sell some of my assets to convert them into cash or other assets, how do I do this in a way that’s most tax effective? 🤷♂️
- Do I need to sell my home and downsize to a cheaper property to release some usable funds? How much will I loose in this process? Where will I live? Will I be closer or further from my loved ones? 🤷♂️
- What’s the right balance between holding enough liquid assets that I can use for immediate spending, and holding enough hard assets that’ll continue to grow and offset inflation over the decades? What role can Bitcoin play as a hard AND liquid asset in retirement? 🤷♂️
- If I do want to use a vehicle like a Self Managed Super Fund or Trust, what are the tax implications and/or limitations of moving funds from one vehicle to another? Like, for example, moving assets from my personal name to a SMSF? 🤷♂️
- If the government forces me to draw down 4%-12% from my retirement fund each year, how can I ensure my asset base is growing each year to offset this?
- And if I’m entitled to a pension, how much can I work before it affects my pension payment?
Not to mention the countless other questions you’re forced to ask yourself. 🤯
//
In short…..
Q: How the fuck can I generate an income in perpetuity that will increase with the cost of living and allow me to live a fun and meaningful life with my loved ones over my remaining decades? 🤔
Damn.
And to think…
ALL of this would not be necessary if we simply had hard money that was not devalued over our lifetime.
We’d simply work, save, retire.
#Bitcoin can play an interesting role in your retirement strategy.
Instead of getting slowly poorer retirement, consider a 10% - 20% Bitcoin allocation to help you get slowly richer.
Your future self will thank you for it. 🙏
Over the last few weeks, banks have been dropping their fixed interest rates by up to 0.60%.
This usually happens when they have intentions of dropping variable rates shortly after.
Normies think this is a good thing.
Because lower rates reduces their mortgage repayments, which will leave more money left over to counter the rising cost of living.
But…
What they fail to see is, lower interest rates means more people can borrow more money.
And every home loan that settles is new money injected into the economy.
In short, lower rates equals more money printing…
Which equals more inflation.
And the cost of everything continues to go up.
Forever.
//
Conclusion:
If you don’t own #Bitcoin or other scare, desirable assets, lower rates in a broken money system mean you’ll slowly get poorer.
The worst part is, most people will never see this, and will think the government and banks are doing them a favour.
//
I was a mortgage broker for 12 years and never really understood this until I discovered Bitcoin. 😳
This slumlord trolly lineup is exactly why I’m selling inferior property assets for third-party-less, maintenance-free #Bitcoin.
People use the excuse that they’re ‘too busy’ to fix their financial situation.
Because being busy is easier than doing something about it.
If you’re feeling the pain of inflation, but have analysis paralysis, you just have a knowledge gap you need to address.
Once you acquire enough knowledge about the problem AND the solution, you’ll automatically inherit the confidence to make empowered financial decisions.
Go forth and conquer! 👊🏻
🚨Breaking News🚨
#Bitcoin solved our broken money problem 15 years ago.
Shitcoiners should switch to educating the billions of people that need to know this, instead of attempting to solve a problem that’s already been solved.
Have a fucking gnarly day! 🌞
We need a few @saylor’s on Nostr to really get the party started over here.
Does free speech cost $44B?
Or a FREE Nostr account?
Bitcoin is financial minimalism. 🧘♂️
Just like decluttering your home and work spaces bring simplicity and peace of mind…
So too does swapping out your mishmash of existing legacy assets for #Bitcoin.
Bitcoin is serenity. 😌