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Don't forget to enjoy your life while stacking Bitcoin — Transcript

by Rajat Soni, CFA · 3,700 words · 554 segments · language en · Watch on YouTube

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0:00Something that I learned about a lot of
0:01people who are on their journey to
0:02becoming financially free, they became
0:05financially literate, they learned about
0:07how the markets work, they learned about
0:09how to multiply their money,
0:11is that they forget to enjoy their life
0:14along the way. They forget to
0:17enjoy the journey of getting to
0:19financial freedom. I think the journey
0:20is probably the most important thing
0:23because if all you do is focus on the
0:26money aspect of financial freedom, then
0:28you'll probably hate your life in
0:31retirement because all you'll have is
0:32money, you won't have relationships, you
0:34won't have anything to do, you won't
0:36have the experiences that come with
0:39enjoying the journey to becoming
0:40financially free. I came across this
0:42post from Jason Rewired on Instagram. He
0:44said he came across this idea in the
0:46book Die with Zero by Bill Perkins. I
0:48haven't read the book, but I know some
0:50of you have, so maybe you'll be able to
0:51relate to what he says here. Like money,
0:54experiences can compound. One experience
0:56creates the next while the memories keep
0:58paying dividends long after the moment
1:00has passed. And I think this is really
1:01important because when you have
1:03experiences, they actually get better
1:05over time. And when people think about
1:08spending their money, they think about
1:09spending their money on material things.
1:11They don't think about spending their
1:12money on experiences. Experiences get
1:14better over time. Memories get better
1:16over time, but material things get
1:18worse. For example, if you spend your
1:19money on a car versus going on
1:22a great vacation. Obviously, you need
1:24the car, you have the utility of the
1:25car. I'm not saying I'm not being crazy
1:27here and saying you shouldn't buy a car,
1:28you should go on a vacation. My point
1:30here is that the car will get worse over
1:32time while your experiences will
1:33compound and they'll lead to the next
1:36experience and the next experience after
1:38that. As you see here, the earlier we
1:39invest in meaningful experiences, the
1:41more time they have to enrich our lives.
1:43Save for the future, but don't postpone
1:46all your living until then. I actually
1:47had a client who was 41 and his wife was
1:50around 40 as well. And they had not gone
1:53on any vacation, they saved $1.5
1:55million. They didn't plan to go on
1:57vacation until after they retired. And
2:01something you have to really think about
2:03all the time. Something I started
2:04thinking about more recently is that you
2:06don't have you don't know how long you
2:07have left on Earth. Your time on here is
2:10not guaranteed. You can die at any time.
2:12You can get hit by a bus. You could get
2:14cancer. You can get some kind of
2:16terminal illness that makes it so that
2:17your life isn't as long as you had
2:19expected. So enjoy your life while you
2:22can while saving for the future. That's
2:24why I think budgeting is so important.
2:26So let's go into the post.
2:28What if experiences are like money? The
2:30earlier you invest, the better.
2:33You try scuba diving once. You surface.
2:36You go home. Now you're planning a
2:38diving trip to Indonesia.
2:40You join the gym. You get fitter. Soon
2:43you're hiking, running, and bouldering.
2:46You take a solo trip through Europe. You
2:48meet people who inspire you to try new
2:50things. Like money, experiences
2:52compound. It doesn't just end. It keeps
2:55growing.
2:56A one-time activity becomes a lifelong
2:58hobby. This is exactly what happened to
3:00me with hockey. I went uh I played
3:02hockey once and I fell in love with it
3:04and I wanted to play it over and over
3:06again. I wanted to keep playing. Uh even
3:08with travel, I traveled once for the
3:10first time when I was like 20 4 25 2017.
3:14And I that was the first time I traveled
3:17for for fun for leisure. And since then
3:21I've wanted to do it regularly. You can
3:23see here a trip changes what you want
3:25from life. I think part of that is
3:26because you see how other people are
3:28living and maybe you want that for
3:30yourself as well. That's why delaying an
3:32experience doesn't only cost you that
3:33experience, it costs you everything that
3:36it could have led to. So it's not just
3:38that one experience. Let's say for
3:39example, you're going to Europe and you
3:40say it's too expensive. You're not just
3:42going to miss out on Europe. You're
3:43going to miss out on everything that you
3:45learn in Europe and then you're going to
3:47miss out out on everything that you can
3:49apply to your life through that trip.
3:51And that that's what this means here.
3:52Not specifically Europe, it could be
3:54Asia, it could be for people who live in
3:55Asia, or people who live in Europe,
3:57maybe it could be North America. There
3:59going to be things that you see in your
4:01trip, in your adventure, that you will
4:03probably apply to the rest of your life,
4:06and that really shapes who you become
4:10over time. So, you invest money for your
4:11future, but also don't postpone all of
4:13your living until then, because the
4:16earlier you invest, the longer they have
4:18to compound, and the richer your life
4:20can become.
4:22It's so true. I've actually spoken to
4:24people in my cohort, the program that
4:27I'm running,
4:28who are investing
4:3150% of their income, 40% of it goes
4:34towards their needs, because their
4:36expenses are at that point. I mean, life
4:38keeps getting more expensive, and
4:39they're spending 10% on of their income
4:41on the things that they want.
4:44I think it should be flipped around. I
4:45think it should be 40,
4:47maybe 30 for your wants, or 20 for your
4:50wants, and then a little bit less for
4:52investing, because you're investing for
4:53a time in the future that you don't even
4:55know will exist. You're pretty much
4:57speculating. If that time doesn't
5:00happen,
5:01or let's say your investments fail,
5:04then
5:05what are you suffering for? What are you
5:07saving for? You're just saving because
5:10you wanted to save, you were told to
5:12save, you had to save, but you're not
5:14investing in your actual life. You're
5:17not investing in who you are as a human
5:19being. You're not investing in your
5:21relationships, and I think that's even
5:22more important than saving financially
5:25for the future. And this is another post
5:27that really shows my point. Living below
5:30your means only works if you're actually
5:31investing in the difference, and then
5:32still increasing your income, too.
5:34There's no reward for just suffering. A
5:37lot of people, they cut their expenses,
5:39they decrease how much money they spend
5:41on their day-to-day life, they cut out
5:44on the things that they want in their
5:46life. They don't go on vacations, but
5:48then they're too scared of investing.
5:49So, what they do is they put their money
5:51into a bank account. And over time, the
5:53money in their bank account is just
5:54losing purchasing power and it'll
5:56continue to lose purchasing power
5:57forever. So, you can see here,
5:59"Frugality without a plan is just
6:01torture. Save aggressively, but make
6:03sure that money is buying assets,
6:05skills, and opportunities that move you
6:06forward. The goal isn't to die with the
6:08smallest expenses possible. It's to
6:10build enough wealth that expenses stop
6:13controlling you." So true. Because a lot
6:15of people, what they do is they want a
6:18bigger bank balance. They want more
6:21uh they they want more money. They want
6:22more dollars. And they don't really know
6:24what they're actually
6:26trying to get to. They don't They don't
6:27know what the end
6:29point of all of this is. They don't know
6:30what the reason for all of this is. Part
6:33of becoming financially literate is
6:35understanding that your monthly expenses
6:37are going to go much much higher in the
6:41next few years, in the next few decades.
6:43For example, if you're spending $5,000 a
6:45month right now, you're going to see
6:47that your cost of living's increasing by
6:495, 6, 7% and your monthly expenses are
6:53going up from $5,000 a month to $10,000
6:57a month. So, in 2026, if they're $5,000
6:59a month, in 2041,
7:01they're going to be all the way up to
7:0210.3k.
7:04Then by you can see here, by
7:072055, they're up to $21,000
7:10per month. So, if you're just saving, if
7:12you're just putting your money in a bank
7:13account, let's say for example, you're
7:14saving $1,000 a month,
7:17at some point, because of you're getting
7:19basically no interest and your money
7:21isn't growing faster than your expenses,
7:23at some point you're going to see that
7:25all of your savings basically amounted
7:27to nothing.
7:29This is in column P, you see the years
7:31of savings. You see how many years your
7:34savings how many years of your expenses
7:35your savings would cover. And you can
7:37see here, it peaks out at in 2047, it
7:39peaks out at 1.52 years. This is with
7:42you saving $1,000 every single month.
7:45You're putting away $1,000 per month.
7:48You're cutting out your
7:50your your wants. You're cutting out what
7:51you actually want in your life. You're
7:53cutting out the foods that you enjoy.
7:55You're cutting out going on vacations.
7:57You're cutting out spending money on
7:59what your kids want. You're not putting
8:00your kids in extracurricular activities
8:02just because you want a bigger bank
8:04balance. Okay, and that happens, you do
8:07get a bigger bank balance over time. You
8:08can see here in 2045, you'll have
8:11$230,000
8:13saved. You would have put in $228,000.
8:14You would have earned about $2,200 in
8:17interest. But, what did that money do
8:19for you? You just put it in a bank
8:20account. How did it change your life? It
8:22literally didn't because over time your
8:25expenses are just catching up. Your
8:27expenses went from 60k per year, and in
8:292045, they're up to $151,000
8:34per year. So, you went from saving for
8:36zero years of your expenses to saving
8:39for just over a year, maybe a year and a
8:43third. But, your expenses are growing so
8:45much faster than your savings that no
8:47matter how much you save, at some point,
8:49it won't be enough to cover you for your
8:51retirement. And this is why you need
8:54assets that earn you more than 0.1%.
8:58You have to combine being frugal
9:00with being financially savvy. You have
9:03to combine both because if you if you're
9:06not frugal, you're not going to save
9:07anything. But, if you
9:10don't figure out how investments work,
9:12if you're not financially savvy, if
9:13you're not financially literate, you're
9:15going to have all of your savings stolen
9:17from you through inflation.
9:19So, let's say you go from 0.1%, which is
9:21what the typical bank account pays, to
9:2410% with the stock market. Your
9:27portfolio would grow much much faster.
9:30You saw in 2045, you had 230k. Now, in
9:332045, you have $675,000.
9:38So, instead of your portfolio earning
9:39you like $2,200, it actually earned you
9:42$447,000.
9:45You put in the same amount of effort,
9:46you still put in $1,000 per month, your
9:49expenses are still exactly the same.
9:51It's just that you understood that you
9:54must get a higher return on your
9:57investments than the inflation rate
10:00in order for your portfolio to actually
10:02grow. So, a lot of people what they're
10:03doing is they're saving, they're cutting
10:06their expenses, they're not enjoying
10:08their life, and at the same time they're
10:09putting their money in a bank account
10:11which isn't growing, and that's a recipe
10:13for a complete disaster. If you're in
10:15that situation, I highly recommend you
10:18check the link in the description if you
10:19want to work with me. If you have a
10:21significant amount of money saved and
10:22you're
10:24concerned about where your retirement is
10:25headed, I want to work with you. I want
10:27to help you with this. You need to get
10:28out of the mindset of protecting your
10:30dollars because protecting your dollars
10:32is actually hurting your finances.
10:34Dollars are meant to be spent, whether
10:36they're spent on experiences, whether
10:38they're spent on investments, whether
10:40they're spent on your day-to-day needs.
10:42They're not meant to be held. If you're
10:44holding onto your dollars, you are going
10:46to lose financially over the next few
10:49decades. And then we have Bitcoin, which
10:51I think is going to probably give a 18
10:53to 25% return if not more over the next
10:56decade or so. You can see here that with
10:58the stock market you'd have in 2045,
11:00you'd have 675K.
11:02You see that number there? 675K.
11:05But with Bitcoin, let's say for example
11:07it gives you an 18% return, which I
11:09think is probably very conservative for
11:11an asset like Bitcoin. In 2045 you'd
11:13have 1.74
11:15million
11:17dollars just by making the decision to
11:19study what Bitcoin is,
11:21to put your money into Bitcoin,
11:24and then holding. That's all you have to
11:26do.
11:27You have to study what Bitcoin is, you
11:28have to put your money into it, and you
11:29have to hold it. By 2045, your same
11:32$1,000 per month will be worth 1.74
11:36million dollars just from the growth
11:39from Bitcoin alone. And that's with a
11:40very conservative 18% return. The gap
11:43between your cost of living increase and
11:46your compound annual growth rate on your
11:48portfolio is what you want to maximize.
11:50And usually people figure this out way
11:52too late and they have to take massive
11:55amounts of risk in order to get to their
11:56goals. And usually they don't even get
11:58to their goals because they lose
11:59everything because of the risks that
12:01they're taking. If you have 10 or more
12:03years until retirement, I highly
12:05recommend that you look into Bitcoin,
12:06that you try to study it, to try to
12:07figure out what it is. I've tons of
12:09videos on it. If you want to accelerate
12:11that path of putting your portfolio into
12:14Bitcoin instead of taking four, five,
12:15six years to learn about what Bitcoin
12:17is, I'm helping people in 90 days or
12:19less to figure out what Bitcoin is, then
12:21to convert their portfolio into Bitcoin
12:24or to convert their savings into
12:26Bitcoin, the income that they're getting
12:27into Bitcoin. I think that's probably
12:29going to be a really great decision over
12:30the next few decades. A lot of people
12:33are stuck thinking that they shouldn't
12:35take any risk with their money. I think
12:37that is the biggest risk that they can
12:39take because when you don't take a risk
12:41with your money, your money is
12:42intentionally going to go to zero. It's
12:44designed to go to zero over time. Most
12:47people are stuck on the path of saving
12:49in dollars because they don't want to
12:51take a risk. They're told that they
12:52should protect their savings for as long
12:54as they possibly can. And at some point,
12:57those savings will help them in their
12:59finances in the future. But the reality
13:01is that your dollars are designed to
13:04lose value. Fiat currencies,
13:05government-issued currencies, dollars,
13:07euros, yen, they're designed to lose
13:09value over time. And if they don't lose
13:12value over time, the banking system
13:13collapses, the entire financial system
13:15collapses. Governments can't spend money
13:17anymore. That's what fiat currencies are
13:19designed for. They're designed to
13:21redistribute value from the people who
13:24work and save in dollars
13:27to the government to pay for the
13:29salaries of politicians, to start random
13:32different programs that maybe you don't
13:34even benefit from. That's what fiat
13:35currencies are designed for because
13:37taxes alone aren't enough to pay for all
13:39those expenses. Governments spend
13:41recklessly, they spend as much money as
13:43they want to, whenever they want to, and
13:44if you save in dollars, you're the one
13:47who's paying for all of their expenses.
13:49I don't know if you've been paying
13:50attention to this, but the US national
13:52debt recently reached 40.1
13:54trillion dollars. They're just borrowing
13:57more and more money whenever they can to
13:59pay for the expenses that they want to
14:01pay for. You can see here, defense and
14:03war is at almost a trillion dollars per
14:05year. Social Security is almost at two
14:07trillion dollars per year. Medicare and
14:09Medicaid is almost at two trillion
14:10dollars per year. The interest on the
14:12debt is the most important thing here.
14:14It's 1.1 trillion dollars per year.
14:17Eventually, this number is going to
14:19surpass the amount of tax revenue that
14:22the US government gets, and I think
14:24that's probably going to be the point
14:25where people start figuring out that the
14:27financial system is a scam, and that's
14:29when people are going to try to mass
14:30exit the financial system to get into
14:33something else. And by then, it'll be
14:35too late. And here's why I think that's
14:37going to happen. You can see here, right
14:38now it's at 40.1 trillion.
14:40In 2020,
14:42it was at 26 trillion.
14:4426 trillion to 40.1 trillion in 6 years.
14:49And you can see here, in 2016, it was at
14:5119.8
14:53trillion. In 2012, it was at 15.6
14:56trillion. In 2008, it was at 10
14:59trillion. In 2000, it was at 5.6
15:02trillion. This number is just going to
15:03keep growing. What this shows you is how
15:06much money is being flooded into the
15:08economy by the US government. The US
15:10government goes into debt, it has the
15:12Federal Reserve create more money for
15:14it, it borrows money from people around
15:16the world, whoever wants to buy their
15:17debt, and then they flood the US economy
15:19with that money to keep it propped up,
15:21to keep the Ponzi scheme going. This is
15:24partly why so many people don't want to
15:26have kids anymore because it's way too
15:27expensive. Some statistics years and
15:29years ago, maybe 2020, said that it
15:31would cost 250k to raise a kid from
15:34birth to 18 years old. I wouldn't be
15:36surprised if that number's up to 500k
15:38now.
15:39How can you afford that? You can't
15:40afford to pay for yourself. How are you
15:42going to afford to support another life?
15:45And all of that, of course, goes back to
15:46how you save. It's not about how much
15:48money you earn. The amount of money that
15:49you earn is irrelevant if you're not
15:51saving it the right way. For example,
15:54let's say you're a doctor who's able to
15:55save $5,000 per month and you're
15:57risk-averse. You put it in a bank
15:59account. You earn 0.1% After 30 years,
16:02you would have put $1.8 million into
16:04that bank account and you would have
16:05earned $28,171
16:08in interest. So, your total portfolio
16:10balance would be $1.828
16:12million. dollars.
16:14A lot of people probably think this is
16:16ridiculous, but I've dealt with people
16:18who are doing exactly this. They might
16:20not be saving the exact same amount that
16:22you see here, $5,000 per month, but they
16:24have high six figures, low seven figures
16:26sitting in a bank account, and that
16:28money could be working for them. It
16:29could be working much harder than they
16:31do. On the other hand, let's say you're
16:32working at an office doing some kind of
16:34entry-level job. You're able to save
16:35$200 per month
16:37and you put that money into Bitcoin
16:39earning 20% per year.
16:42You would have put in 72k
16:44for the next 30 years, but your
16:46portfolio would be worth 3.4
16:50million
16:51dollars. So, the doctor would have put
16:53in 25 times more money than you did.
16:56They would have put in $1.8 million, but
16:58you would end up with a portfolio that's
17:01worth almost double
17:03theirs. So, it doesn't matter how hard
17:05you work. It doesn't matter how frugal
17:06you are. It doesn't matter how much you
17:08save each month. It doesn't matter what
17:10you cut out. What matters more is how
17:13you save, what you put your money into.
17:15Enjoying your life along the way is
17:17important. A lot of people will delay
17:19enjoying their life. They won't enjoy
17:21their life because they want to save,
17:22but then they put that money into a bank
17:24account earning them 0.1% whereas their
17:26inflation is 5 to 7%. So, they're losing
17:29value no matter what. So, I think what
17:31Bitcoin does is it allows you to find
17:33the balance of being able to enjoy your
17:34life,
17:35being able to save even small amounts of
17:37money, and having your portfolio grow
17:40faster because your money is going to
17:42work harder than you do at some point.
17:45You can see here that that portfolio
17:46where the person is only putting $200
17:47per month in it is growing slowly at
17:50first,
17:52and that's perfectly fine because
17:54eventually their portfolio is growing
17:56much, much faster
17:59than they could ever work for money.
18:01This is the definition of your money
18:03working harder than you. For example, in
18:052049, their portfolio grew by 190,000
18:10dollars even though they only put $2,400
18:12into it. In 2050, their portfolio grew
18:15by $270,000
18:17even though again, they only put $2,400
18:19into it. If you have your money working
18:21for you, then you won't have to work as
18:23hard. Your money can do most of the
18:24heavy lifting while you protect your
18:26body and you actually enjoy your life.
18:28If you're interested in working with me,
18:29check the link in the description below.
18:31I have a whole structured program that
18:33goes through all of these concepts. It
18:35helps you to figure out what Bitcoin is,
18:36how to use Bitcoin to build your
18:38portfolio, and how to protect your
18:40Bitcoin as well as monetize it when you
18:42actually do retire. Most people don't
18:44have a plan for retirement. They're just
18:45winging it. They're giving all control
18:48over their finances to their government,
18:49to their employer. I don't want you to
18:51be in this situation. You are an expense
18:53to your government. You are an expense
18:55to your employer. You have to take
18:57control of your own finances if you want
18:58to retire at some point. Finding the
19:00intersection between living your life
19:02and saving for the future is the key
19:04here, and once you do that, I think your
19:05life becomes so much more enjoyable.

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