Money And Freedom 2.0

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Welcome to Season 2 Episode 11. Not Me, But You! Podcast.

 If you enjoy my content, and want to support this podcast, click the referral link for I Trust Capital dot com. Currently, this is the only place I know of on planet Earth where you can buy/sell Bitcoin (and other crypto) plus gold/silver INSIDE of an IRA. I have a ROTH IRA at I Trust Capital dot com. Click my link here: https://itrustcapital.com/?referral_id=AAWC4U&utm_source=RAF

There is another episode in Season 1 with the same title as this one. I thought I would revisit some of those same topics from that original podcast that I did and add in some new ones also. 

I use Charles Schwab to buy/sell/hold stocks and ETF's and closed end funds. I don't get paid to tell you this, I just like them and find their phone app easy to use. 

Inflation is like the noon day sun on a summer day, The sun shines on your pile of money that you have saved. Your pile of money is an ice sculpture. Strong but it will melt over time from the heat of the sun. The "melting" that occurs is your purchasing power of your saved money draining away! So how do you preserve purchasing power? Great question! You buy/hold assets that either bring you cash flow (more money) and/or assets that are worth more over time. You could sell your asset that is worth more today than say 2 years ago when you first purchased it. Get the idea?? 

So if you buy/hold things, you get beat up by inflation. If you buy/hold assets, inflation actually helps you! Wrap your brain around this concept and make sure you fully understand it. This will help you to become wealthy, once you do understand this. 

Why do we need cash flow? Answer: so we can pay our bills each month. Also cash flow gives us a bigger pile of money. It grows our pile of money, so that when prices rise in the future (from the effects of inflation) we can afford those same items that will definitely cost us more, in the future. Get the picture? 

The rate of return that we earn on our assets is very, very important. We want to earn at least enough to keep pace with the true inflation rate. And we want to earn MORE than the rate of inflation, when we can too. Both scenarios are good for us. 

How do you cut your expenses? By having a budget which shows you where/how often you spend your money. Are budgets fun? Absolutely not. But they are necessary and can be temporary. What if I told you if you lived on a budget for just 4 years, your life in 4 years would be very, very different, in a good way from how it is today? That's possible! But you have to be willing to change your thinking and be willing to "sacrifice" for at least 4 years. You decide. Only you can decide. 

Most things that we choose to spend money on are not NEEDS. Mostly they are "wants"- things we simply tell ourselves we "need!" 

Bitcoin is the best performing asset on the planet. You will start to see some financial planners recommending people hold at least 10% of your portfolio either in Bicoin directly or a Bitcoin related assets. 

Buying/holding dividend stocks bring you cash flow. Buying/hold growth stocks bring you asset appreciation. Buying/holding Bitcoin gives you both asset appreciation and INCREASES your purchasing power over time. 

If Bitcoin is "bad"

I'm not a financial advisor. This podcast is for education/entertainment purposes only. You will need to do your own research and accept responsibility for the results of any money you choose to invest. I love using Schwab.com to buy/sell stocks/ETF's/closed end funds/options. Schwab has a very user friendly app/website and their customer service is excellent. I can easily get to speak to a human being whenever I have questions.