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The only investment better than Bitcoin — Transcript

by Rajat Soni, CFA · 5,359 words · 776 segments · language en · Watch on YouTube

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0:00Bitcoin is not the best investment you
0:02can make, especially in the short term.
0:04And in this video, I want to go into
0:06what's even better to invest in. What
0:08can you invest in other than Bitcoin
0:11that'll get you to your financial goals
0:13a lot sooner than you may expect. We all
0:16know that Bitcoin is probably going to
0:17go up over the long term. It's pretty
0:19much gone straight up
0:21ever since it first started being traded
0:23for dollars. I mean, obviously you see
0:25here that it does have pullbacks, but
0:27these pullbacks are nothing in
0:29comparison to the growth that we've seen
0:32over the last 17 years. This was a post
0:35that I made in January of 2023. And this
0:39was before I had studied Bitcoin. So,
0:41you can see here, I posted this in
0:43January 2023 when I didn't know any
0:44better. I didn't understand Bitcoin yet.
0:46You can't retire with $1 million.
0:48Inflation is a lot higher than the
0:50numbers I used when I made this post.
0:52So, this post here assumes 2% inflation.
0:56And it shows you here that if you were
0:5818 years old and you wanted to retire at
1:0060 with a million dollars, you'd only
1:02have to invest $130
1:05per month. The problem with this,
1:06though, is that I had assumed that a
1:08million dollars would still be worth
1:11something at that point. Let's say, for
1:13example, that 18-year-old started
1:14investing today in 2026 and they kept
1:17investing until 2068. Their expenses
1:21today, their annual expenses are, let's
1:23say, $60,000
1:25a year. Let's just assume for the
1:28purposes of this example that they don't
1:30increase their lifestyle, they don't buy
1:32anything extra other than what they have
1:34today, they don't improve their car,
1:36they don't improve their house, they
1:37just do everything exactly the same for
1:39the rest of their life, which I don't
1:41think most people would do. They I think
1:43most people would probably expand their
1:45lifestyle over time. But in this
1:47example, we'll just assume that the
1:48lifestyle stays exactly the same. The
1:50same lifestyle will probably cost you 5%
1:53more each year. And we are at serious
1:57risk of that increasing over time
1:58because trust in fiat currencies is
2:00decreasing and as trust in fiat
2:02currencies, government issued
2:03currencies, dollars, pounds, euros, as
2:06it falls, as trust falls,
2:09the purchasing power decreases. So, what
2:11you'll see is that the $60,000 lifestyle
2:14today is going to be, if we assume 5%
2:17inflation per year, $465,000
2:22per year.
2:24$465,000 per year for the same lifestyle
2:27that cost $60,000 today. So, with this
2:30post, I had a serious misunderstanding
2:32of what
2:34$1 million would actually cover. I had a
2:36series of them. So, there was $1
2:38million, there was $2 million, there was
2:39$3 million. $3 million is obviously a
2:41lot more realistic, but even then, $3
2:43million will only cover you for about 60
2:46years of your expenses. And keep in
2:47mind, this is based on the S&P 500's 10%
2:50returns, which is an average based on
2:52the last 100 years. So, the returns you
2:54get from the S&P 500 are not enough. So,
2:58let's say instead of buying the S&P 500,
3:00that same person, the 18-year-old, buys
3:02$130 worth of Bitcoin. And instead of
3:06the S&P 500's 10% return, we get an 18%
3:09return with Bitcoin. Inflation continues
3:11to be 5% per year. I've made videos in
3:14the past explaining why you need about
3:1520 years of savings in Bitcoin in order
3:17to weather the storm, in order to get
3:19through the volatility. You have to have
3:21some cash savings so that you you you
3:24don't have to dip into your portfolio
3:26when Bitcoin's down 60, 70%. So, in this
3:29case, if you get to 20 years of savings,
3:32you can pretty much retire. And you can
3:35see here, the same 18-year-old
3:37would be able to retire in 2067 with 20
3:40years of savings. With the S&P 500, it
3:43would take until 2118 to get to the same
3:45result of 20 times your expenses, and
3:48this isn't even enough. You'd need about
3:5025 times your expenses if you go based
3:53on the Trinity study, which may be
3:55completely outdated by then. So, this
3:57person, 18 years old, may think that
4:00they can get away with investing $130
4:02per month for the next
4:0542 years and eventually they'll be able
4:07to retire and they're good to go.
4:10But, that's not really the case.
4:14So, this person may be thinking, "I'll
4:15invest $130 into the S&P 500 or into
4:18Bitcoin and I'll do it for the next 39
4:20years and I'll be good to go. I'll be
4:21able to retire with 20 years of
4:23expenses." And that's perfectly fine if
4:24that's the life that you want to live.
4:27But, what is a better investment than
4:29Bitcoin? And this is the topic of the
4:31video. What is a better investment than
4:32Bitcoin? The better investment, if
4:35you're 18 years old or if you're 21 or
4:37if you're 25, if you're even 30, the
4:40better investment would prob- Actually,
4:42even as you get older, the better
4:43investment, 35, 40, even 40- even 50 at
4:47the based on what things are looking
4:50like right now, based on how Bitcoin can
4:52grow, the better investment in instead
4:54of buying Bitcoin would be investing in
4:56yourself, would be investing in your
4:58skills, your ability to offer other
5:01people
5:03value. If you can offer other people
5:05value
5:06and you can solve problems for them,
5:08over time you'll gain experience and
5:10you'll be able to get paid more and
5:12more. And what that means is that you
5:15can put a lot more into Bitcoin
5:18and you can probably increase the gap
5:21that you have between your income and
5:23your expenses, meaning you can retire a
5:26lot sooner. So, let's say for example,
5:28this 18-year-old, instead of putting
5:29$130 into Bitcoin, they put Let's say
5:32they put $10 into Bitcoin or they just
5:34go to zero with Bitcoin. And instead,
5:36they invest in their ability to give
5:39value to other people. So, how would
5:40that How would that look? Let's say,
5:43uh maybe you could start a business
5:44where
5:46uh you offer some kind of service. Let's
5:47say you offer copywriting services or
5:49you offer editing. I have a client who
5:51is a video editor and he makes $10,000
5:54US per month from offering video editing
5:57services and he's 18 years old. So, in
5:59his case, instead of putting the money
6:01into Bitcoin, he bought a course. He
6:03paid for a course with a content creator
6:05that he trusted, one that he wanted to
6:07work with. He liked their content. He
6:10paid him, it was about $2,000 for the
6:13course. He paid him instead of buying
6:15Bitcoin up front.
6:17He bought the course. He used his credit
6:19card, he went into debt and he came out
6:22increasing his income massively. If he
6:25had worked for minimum wage,
6:27he would be making $7.50 an hour.
6:29But, instead, he learned this skill that
6:33allows him to offer a service that's
6:35very niche, that people want, that'll
6:37always probably be in demand no matter
6:39how great AI gets.
6:41People who are good with editing videos
6:43will always be of value. So, in this
6:47case,
6:48he put the money into a course, he
6:50invested the money into a course. That
6:51was the investment that he made, he
6:52invested in himself. He invested in the
6:54knowledge of learning how to edit videos
6:58and I don't know if that's the idea that
7:00you want to go with, but he put in the
7:01money, he put in the time, he put in the
7:03effort and he came out with a massive
7:06increase in his ability
7:09to create value, in his ability to
7:12earn wealth. Yesterday, I posted a video
7:14where I explained that if a doctor is
7:18saving $5,000 per month
7:20in a checking account,
7:23they're going to be worse off in 30
7:25years than
7:28a person working just an average job
7:31making 30 bucks an hour
7:35putting $200 into Bitcoin every single
7:37month. Every single month,
7:38they consistently put $200 into Bitcoin,
7:41they'll be better off than a doctor
7:42who's putting $5,000 a month into a
7:44savings account because of compounding,
7:46because Bitcoin grows over time. Keep in
7:49mind that it takes time for Bitcoin to
7:51grow. It doesn't happen overnight.
7:53Obviously, you see that it spikes 20,
7:5530% sometimes, but the real gains, the
7:57real growth will be over the long term
7:59as adoption happens as
8:01more people figure out what Bitcoin is.
8:03You're probably going to see a lot more
8:04Bitcoin locked up as collateral for
8:07loans. More banks are going to offer
8:08services. So, what that'll do is it'll
8:10drive up demand for Bitcoin because more
8:12people want to use it as collateral and
8:13it'll decrease the supply because the
8:16people who already have Bitcoin can,
8:17instead of selling it, they can use it
8:19as collateral. So, that completely
8:21destroys
8:23any models that people may have that
8:26that addition of services and ability to
8:30use your Bitcoin to monetize your
8:31Bitcoin is going to completely change
8:32how Bitcoin works over the next decade
8:34or so. But, with that aside, if that
8:36doctor,
8:38instead of putting the money in a
8:39checking account or in a savings
8:41account, they put it into Bitcoin, what
8:43would that look like for them? Let's say
8:45it's very similar situation to the to
8:47the 18-year-old that I was mentioning.
8:48He was making $10,000 a month editing
8:50videos for other people and that was his
8:53skill. That was the skill he learned. It
8:55took him
8:56a few months to do the course. He ended
8:58up with being able to invest $9,000 a
9:00month into Bitcoin because he was living
9:03with his parents. He had a massive gap.
9:05He was paying for his own expenses. He
9:07was paying to run his business and at
9:09the same time he had $9,000 per month to
9:12invest in Bitcoin. So, think about that.
9:14The doctor spent all this time, effort,
9:16energy to
9:17learn a skill
9:19that allows them to increase their gap.
9:20It increases their wealth building
9:23ability. The 18-year-old did exactly the
9:25same thing. I'm not talking about which
9:27one's better. I'm saying that that gap
9:30can be created and it's probably a much
9:32better pursuit for you
9:34if you're earning minimum wage or if
9:36you're earning, let's say, 20, 30, 40
9:38dollars an hour, widening that gap would
9:40give you a much better result than
9:43buying Bitcoin. So, in that
9:4418-year-old's case, he was buying like
9:46$9,000 worth of Bitcoin per month. I
9:47think he already had accounted for
9:49taxes, maybe he was making a little bit
9:50more in certain months. I don't remember
9:52the exact details on it. He told me
9:53about it about a year ago. But, let's
9:55say, for example, he's putting $9,000
9:57per month into Bitcoin. It gives him an
9:5918% return. His monthly expenses are
10:01$5,000 per month. Let's say he inflates
10:03his lifestyle over time. $5,000 per
10:05month. You can see here how quickly
10:07he'll reach his retirement goal. You can
10:09see here in 2034, he'll have 6.62
10:12Bitcoin worth 1.953
10:15million dollars. Whereas,
10:18the person in the first example who's
10:20just working a job, getting paid a small
10:22amount, whatever whatever they're worth
10:25in the marketplace,
10:26they continue to get paid that, they
10:28have to wait 40 years
10:30for a similar result. 40 years. And this
10:33is why I think it's so important for you
10:34to invest in your ability to offer value
10:38to other people because
10:39no matter what happens to Bitcoin, no
10:41matter what happens to the dollar, no
10:43matter what happens to the stock market,
10:44no matter what happens to the real
10:46estate market, your skills,
10:49your ability to produce value for other
10:52people will always be worth something.
10:56With the guy that I was mentioning, in
10:58his case, obviously, if the internet
11:00goes away or if we no longer have have
11:02electricity, then his skill won't have
11:04any value, but we're talking about like
11:06an apocalyptic scenario here where he's
11:10probably not going to be living anyways.
11:12But, if you can work on a skill in the
11:14digital economy, if you can offer some
11:16kind of value to other people in the
11:17digital economy, you can scale it using
11:19the internet,
11:21I think that's a better investment than
11:22Bitcoin because Bitcoin's going to give
11:24you maybe 20%, 25%, even, let's say,
11:27best case scenario, 50% per year or 100%
11:30per year. You can definitely increase
11:32your income by more than 100% in a few
11:35years. You can definitely increase your
11:36income by
11:38two, three, 400% especially if you're
11:40starting very low. Let's say if you're
11:42making 750 an hour
11:44and you're trying to find a way to buy
11:46Bitcoin at the same time. In your case,
11:48you would definitely be better off
11:50increasing your income because not only
11:52do you see it up front, not only see do
11:54you see the result up front and it will
11:55probably might be much quicker than
11:57whatever result Bitcoin can give you.
12:00But you also have that result in an
12:01ongoing basis. So let's say you're
12:03making 750 an hour today, minimum wage
12:04in the US and you do some kind of
12:06course, you learn how to use Microsoft
12:08Excel. Now you can go work as a data
12:11entry specialist. I know data entry is
12:13probably not the best career to follow
12:15with AI, but that's a stepping stone.
12:17You move to something else. You can move
12:19into a financial analyst role or a
12:21business analyst role and you can keep
12:23moving up and you can keep offering more
12:25and more value to your employer and your
12:27employer will pay you more for that.
12:29Let's just do a quick example here.
12:30Let's say you're making 750 an hour,
12:32you're working at a fast food restaurant
12:34in the US. You are earning minimum wage
12:37and you hear about Bitcoin and you think
12:39maybe I'll put a dollar an hour into
12:41Bitcoin. I don't think that would be
12:42worth it for you because you can easily
12:44go on a site like Udemy. I'm not
12:47sponsored by them or anything like that.
12:48I'm not I I don't care if you use this
12:50site or you you find another one. I
12:52don't really care about that. You can go
12:53on YouTube and find courses. But let's
12:54say for example, you go on Udemy, you go
12:56to this course here. This is the the
12:58exact course that I took. It was so
12:59great that I want people to take it. I I
13:01think it's I think it's very useful. Um
13:04I got it before they started the
13:06subscription service. They had it for
13:08like $15.99 or something like that. But
13:10now you can do it for $8.97 or $8.87 per
13:13month.
13:14And you can learn how Microsoft Excel
13:16works.
13:17And from here you can go into some kind
13:19of role like a data entry specialist. So
13:23let's say we'll go back to the
13:24spreadsheet. Let's say you become a data
13:26entry specialist.
13:29I don't even know what it's called, what
13:30the role is called, but some kind of
13:32data entry where you're using Microsoft
13:35Excel to create charts to give results
13:38to people to to chart their their
13:41progress over time. You're working with
13:43a company doing this. You're a data
13:45entry specialist, you find trends, all
13:47that stuff. And you can get paid, let's
13:49say,
13:51$15 an hour. I think it's probably more
13:53than that, but let's say $15 an hour
13:54just for the sake of this. And then
13:56after that, let's say you figure out how
13:57Microsoft Excel works a little bit
13:59better from being in the role, you start
14:01using different functions, and you
14:03become a business analyst.
14:08You become a business analyst because
14:09you can offer more value. And as a
14:11business analyst, now you're getting
14:12paid $30 an hour. What you see in column
14:15C to E is my personal path, my income
14:18growth over time. In this time from 2005
14:22till 2026, my income went from something
14:25like $7 an hour to 100 plus an hour. And
14:29the reason for this is that I invested
14:32in myself. I invested in my ability, I
14:33took risks, I
14:35learned new skills, I took courses, I
14:38did whatever I could to create more
14:40value for other people. So, you can see
14:41here, I started off scorekeeping
14:43at like 13 years old, 2005,
14:46and I was making $7 an hour. The reason
14:48why I was doing scorekeeping was because
14:49I was watching my brother playing
14:50basketball, and I was always there, and
14:53I wanted to start doing something while
14:55I was there. I would always spend time
14:57at the games. I wasn't playing myself, I
14:59was just watching, and my parents would
15:01just drop us off together.
15:03I talked to the person who was running
15:06the league, and I asked him, "Hey, can I
15:07do the scorekeeping?" He said, "I'll
15:08give you $7 an hour to do it. Sure,
15:11as long as you can do it every single
15:13week." And I started doing that.
15:14I was very young.
15:16I wanted to make some money. He paid me
15:17cash, it was great.
15:19Probably better than the McDonald's job
15:21that I had, even though I got paid more.
15:23But that was the progression. So, I
15:24started with score keeping. It was just
15:26me working because I found the
15:28opportunity that I worked at McDonald's
15:30while I was in uh the last year of high
15:32school and in the summer of high school,
15:34first year of the university just to
15:36have some spending money. 965 an hour. I
15:39only lasted like 3 weeks. I hated it.
15:41Did not like it at all.
15:43But that was also partly because I found
15:45a job at Walmart paying a little bit
15:47more. At the same time, while I was
15:48working at McDonald's, I started
15:49applying at other places. And luckily
15:51for me,
15:52Walmart was opening up at the same time
15:55and
15:56I applied and I got the job. Really
15:58great progression for me personally.
16:01Went from earning 965 an hour to earning
16:03a dollar more per hour. And I only had
16:07to work at McDonald's for a little
16:08while. Then I took a little gap in
16:09between. But over time, you can see my
16:11income was increasing. Then from
16:12Walmart, one of my friends gave me a
16:15referral to Rogers, where I was making
16:171025 an hour plus commission. So, I was
16:20making 25 per hour. This was when I was
16:22in university, near the end of
16:24university. And 25 per hour back then
16:27was pretty great. But the issue with
16:30this is that I probably had a ceiling
16:32because how many cell phones can you
16:33really sell? How many plans can you
16:34sell? Of course, you can move up in the
16:36company and they'll give you more than
16:3825 per hour.
16:40But I think
16:41that at this point I made the right
16:43decision to not think too much about how
16:46much money I'm earning
16:47and instead
16:49work on the path that I'm taking. So, I
16:51took a cut. I went to CIBC
16:54and I earned 1675 an hour. And keep in
16:58mind that this was as a result of me
17:00going to university for finance and
17:02accounting. If I didn't have that
17:04background, I probably wouldn't have
17:06been thinking about going to CIBC to
17:08work in the banking industry. I got this
17:10job by getting a referral from somebody
17:13who was a customer at Rogers.
17:15And they
17:17liked the services I provided. I
17:20saved them a ton of money every single
17:22month and it ended up being a district
17:23VP for the branches and she needed
17:26somebody who wanted to work at CIBC.
17:28They had like this program where they
17:30were going through and she referred me
17:32to that so I
17:33started working at CIBC in 2014. I left
17:35CIBC because I wanted to study for the
17:37CFA exams and they didn't give me time
17:39off unfortunately so I quit and
17:41fortunately I was still living with my
17:42parents. I got lucky with that and after
17:45I did the CFA exam
17:47came out that I failed failed the first
17:49exam cuz I hadn't studied properly. I
17:50didn't study the right way.
17:53I found a job at Questrade which was a
17:55lateral move. I got paid almost the same
17:58but I was working in the industry that I
17:59wanted to work in in uh investment
18:02services and just helping people
18:04navigate their accounts, giving them
18:05explanations of what's happening with
18:07their account, all that but around
18:09October of 2016 I got laid off and I
18:11started working at this little tire
18:13factory where you're
18:15uh you're you're loading trucks up with
18:17tires.
18:18I don't remember what the exact wage
18:20was. I think it was around 11 or 12
18:21dollars an hour at the time. Maybe it
18:23was higher. I don't remember the exact
18:24numbers but the point here was that I
18:27had to find something to do and this
18:29just filled the gap. Obviously you may
18:32see that you're going to take a cut.
18:34You're going to see that you lose a
18:37little bit of money and I did this I was
18:38doing this job while I was earning
18:41EI, employment insurance. I was earning
18:43EI while I was doing this job but you'll
18:46but the point here is that you sometimes
18:47have to take a cut. Sometimes you have
18:48to take a step back and that's perfectly
18:50fine. I took a step back from 25 an hour
18:52to 11 an hour. 2012 I was making 25 an
18:55hour.
18:56In 2016 I was making 11 an hour plus
18:59employment insurance. But the point here
19:01is again that
19:03I stuck
19:05to my plan, my goal.
19:07I
19:09kept applying for jobs and I found
19:11another job at TD. I was doing courses
19:13on the side. While I was at Questrade, I
19:14did a course, I got the employer to pay
19:16for it. The education that you get is
19:18going to help you with offering a better
19:20service, offering to solve a bigger
19:23problem. The courses that I took when I
19:25was working at Questrade and CIBC were
19:27the CSC and the CPH, the Canadian
19:28Securities Course and the Conduct
19:31Practices Handbook, something like that.
19:33And that helped with getting me this job
19:35here because TD wanted somebody who
19:38already had those courses, who was ready
19:40to work, who could work right away, so
19:43they don't have to pay for their
19:44education, they don't have to pay for
19:45their training. That's exactly what
19:47happened here. So, I got this role. I
19:49was laid off, but I kept trying, kept
19:51applying for jobs. I got this role here,
19:5225 an hour in 2017, which was not bad
19:55because I went from 16.75 an hour to 25
19:58an hour. So, the 25 an hour also
20:00included a bonus and where if you
20:02performed well, you could get something
20:04like 25% of your wage and
20:07I got that, which was great. So, at
20:09certain points, my income was something
20:10like $31 an hour because of the annual
20:13bonuses that we get. While I was working
20:15at TD at the call center, helping people
20:18with their finances, exactly the same
20:20thing with Questrade. I was helping
20:22people navigate their brokerage
20:23accounts, how to figure out what a trade
20:25is, how to put through different kinds
20:27of trades. When I was working at the
20:28call center here, I took this course.
20:31It's been around for a really long time,
20:32which is really great. I took that
20:34course and I started playing around with
20:36Excel.
20:38Within a few months, an opening came up,
20:41a job opening came up where they needed
20:43a business analyst, someone to look at
20:45the operations of the entire call
20:47center, something like 1,500 people.
20:49They needed somebody to take a look at
20:50the KPIs, to look at the performance, to
20:52see what can be improved. And while I
20:55was working on Excel, I got really
20:56partly lucky,
20:58but also I was prepared. I applied for
21:01the job and I got it, which was really
21:02great. I took a nice raise from 25 an
21:05hour to 32 an hour plus bonus and all
21:06that stuff. Sometimes it goes up to like
21:0837, 38 an hour. I did CFA level 1 while
21:11I was working at the call center. I
21:13remember staying until like 11, 12, 1:00
21:15a.m. sometimes at the call center
21:17because it was 24/7. I'd be staying
21:19there studying, doing my questions. I
21:21didn't want to fail again like I did in
21:232015 and I put in as much effort as I
21:26could to make sure that I did pass.
21:28Thankfully, I did pass here and that's
21:30partly also what gave me the new role as
21:33a business analyst. So, the Excel skills
21:36tied together with the CFA, the
21:38ambition, I guess they they would call
21:40it. They liked that I was actually
21:42trying to pursue higher education. While
21:44I was in this role in 2018 as a business
21:46analyst, I was able to work with people
21:48who connected me with the right other
21:50people, the right stepping stones that
21:53got me to the fixed income analyst role
21:55in TD Asset Management, which was a
21:57completely different side of the
21:58business, completely different work
22:00ethic. The way that it worked was
22:01different. The move from the call center
22:03role to working as a business analyst
22:05took me from working retail to working
22:07corporate. Instead of dealing directly
22:09with customers, I was now dealing with
22:11management and the insiders at the
22:13company. Working as a business analyst
22:15got me introduced to senior VPs and
22:17people who were way higher up than where
22:19I was, who I'd never seen before, who
22:21I'd never met before and that gave me
22:23another stepping stone to be introduced
22:26to someone in asset management who hired
22:28me as a fixed income analyst. And you
22:32can see here I went from earning $7 an
22:33hour in 2005 to earning $37 an hour in
22:372020. With bonuses, this role would have
22:39paid about $44 an hour, which means that
22:41with bonuses, I would have increased my
22:43income about 13% per year. In 2021, I
22:48had the crazy idea that I should leave
22:50my job. I didn't like working for an
22:52employer anymore. I didn't want to work
22:54for a manager. I wanted to do do my own
22:55thing and I took another pay cut. I went
22:57from 37
22:59or 44 an hour, you can say, to 25 an
23:02hour because I started doing Uber Eats.
23:04I did that for about 2 years. At the
23:06same time I was building my social media
23:07presence. I was posting on Instagram. I
23:09was posting on Twitter. And you can see
23:12here the progression over time from 7 an
23:14hour to now I'm making about $100 an
23:17hour whenever I do work with anything
23:20related to my social media stuff. I
23:22would also say that I'm probably working
23:23a lot less than I was before. I'm more
23:25focused on the other parts of my life. I
23:27can go to the gym a lot more. I can
23:29spend a lot more time doing walks. I can
23:31play hockey. I can go to the library if
23:34I want to. I can do all of that stuff.
23:36But I'm getting paid a lot more per
23:37hour. Here in 2020 I was making 37 an
23:40hour, but I was working 40 hours a week.
23:42Plus I had to commute to work. I had to
23:44get ready for work. I was constantly
23:46thinking about work. I was also always
23:47available to my manager if he ever asked
23:49me a question or if he needed anything.
23:50He could text me. He could email me and
23:52I'd have to get back to him ASAP. I
23:54remember the stress that that gave me.
23:55It wasn't worth it for the amount of
23:57money that I was making. I was actually
23:59much better off working as a business
24:01analyst for 32 an hour
24:03instead of getting that raise to 37 an
24:05hour or even 44 an hour
24:07based on the work that I had to do,
24:09based on the stress that I had to deal
24:11with. That toll got me to leave and I
24:13didn't want to keep doing what I was
24:15doing. It was really boring. It was
24:17repetitive. I hated it. I was miserable.
24:20I've said this before. I had to take a
24:22pay cut. I was willing to take a pay cut
24:25to get out of that misery. It wasn't
24:27worth it to me. So this transition was
24:29going from retail
24:31to corporate.
24:32And
24:33this transition here was So from the
24:36fixed income analyst back to Uber, this
24:38transition was from corporate back to
24:41retail because I started dealing with
24:42customers again. And it may seem like I
24:45went the wrong way. Even now I deal
24:46directly with customers. It may seem
24:48like I went the wrong way if you're
24:49climbing the corporate ladder. You don't
24:51want to go back to serving retail. But
24:54serving retail, working with people,
24:56working with individuals has actually
24:58been the best decision that I made
24:59because I actually like doing it. I get
25:02a lot more fulfillment from it and I get
25:03paid a lot more because I keep all of
25:05the profits. I make money, I do all of
25:08the work and
25:10nobody else is in the middle taking a
25:12cut out of the work that I do. The other
25:14great thing about social media is that
25:15I'm obviously dealing with customers
25:18and making money through that, but I'm
25:19also creating content that can continue
25:21to produce an income literally forever.
25:24For example, I made videos 2 years ago
25:26about Bitcoin and they're still getting
25:27views today. I'm getting pennies for
25:29them and that's perfectly fine. It's
25:31still an income for something I did a
25:32really, really long time ago. The
25:34investment in myself, doing the CSC, the
25:36CPH, putting in the time to do those
25:38exams back here, then doing the CFA
25:41here, going to university, all of those
25:44investments are what led to where I am
25:46today. Because of those investments, I'm
25:48able to buy a lot more Bitcoin. I'm able
25:49to get a lot more skin in the game
25:51compared to if I just stayed at
25:53McDonald's or if I just stayed at
25:55Walmart, if I just stayed at Rogers. If
25:57I didn't take this pay cut from Rogers
25:59to CIBC, then I wouldn't be where I am
26:01today because I wouldn't have discovered
26:03the banking industry. I wouldn't have
26:04worked in the banking industry. Maybe
26:06eventually it would have happened, but
26:08it could have taken a lot longer than it
26:09did. Maybe the path would have been
26:11completely different. Maybe I never
26:12would have ended up making content on
26:14the internet. So, if you have a lot of
26:16time to retirement, invest in yourself,
26:18invest in your ability to create more
26:20value for other people, invest in your
26:22skills, invest in your knowledge. Read
26:25non-fiction books, watch videos that
26:27teach you concepts and ideas that change
26:29your world, that give you a different
26:31way of thinking. Eventually, you'll find
26:33something that allows you to create
26:35value for other people because you're
26:36truly passionate about it, because you
26:38understand all of the nuances, you
26:39understand all of the details. Use that
26:41to your advantage and replace your job
26:44with that. At some point, I think that
26:46you'll realize pursuing your hobby to
26:48make money is a lot more fulfilling than
26:51working a job that you hate, working a
26:53job that you're miserable at, and you'll
26:55get a much better result than just
26:57buying Bitcoin and investing in Bitcoin
26:59hoping for it to grow over the next 40
27:01years. If you can do something that
27:03helps you to retire much sooner, then
27:04why not? Especially if you enjoy the
27:06journey a lot more.

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