THE BEST WAY TO BUILD WEALTH?
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- Опубликовано: 11 июн 2024
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Rajat Soni is a Certified Financial Advisor with 10 years of finance industry experience, dealing with hundreds of clients on a personal level. As a personal finance educator and content creator, he simplifies complicated concepts with weekly insights on personal finance, investing, stocks, and Bitcoin with his audience of 200,000 followers across Instagram, X, Substack, and Linkedin. I hope you enjoy this episode!
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3 Takeaways 💡
- Understanding the brokenness of the financial system and the value of Bitcoin requires time, research, and a willingness to challenge existing beliefs. The current financial system is flawed and requires an alternative like Bitcoin.
- Volatility in Bitcoin does not necessarily equate to risk, and a long-term time horizon is crucial for understanding its value. Millennials should consider allocating a portion of their wealth to Bitcoin as a long-term investment.
- Financial advisors should educate themselves about Bitcoin to provide accurate advice to their clients.
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Timestamps 🕑
02:01 - Discovering Bitcoin
03:03 - The Flaws of the Current Financial System
07:52 - How the Financial System Profits from the Illiterate
09:23 - The Pizza Analogy: Decreasing Value of Money
12:14 - The Difference Between Price and Value
13:33 - The Rising Cost of Living
16:12 - Real Estate and Stocks as Wealth-Building Options
18:11 - The Mental Space and Time Preference of Bitcoin
20:28 - The Exploitative Nature of Real Estate
23:44 - The Difficulty of Grasping the Broken System
29:32 - The Internet's Role in Exposing Financial Issues
32:32 - The Challenge of Changing Beliefs
36:12 - The Brokenness of the Financial System
37:27 - Understanding the Current Financial System
39:19 - Bitcoin as an Alternative System
43:03 - Getting Started with Bitcoin
46:24 - Understanding Bitcoin vs. Traditional Investments
50:29 - Aligning Incentives and Building on Bitcoin
53:48 - The Importance of Educating Financial Advisors on Bitcoin
59:35 - Volatility vs. Risk in Bitcoin
01:16:05 - The Importance of Following the Rules of Bitcoin
01:17:39 - The Current System is Based on Debt
01:19:31 - The Value of Fiat Money and Building True Value 
Наука
For us it's obvious, but 99% of the people don't care about their future wealth because our system forces them to be consumers instead of savers. And if they find some free time from our ever faster pace of life, they hang on TikTok or RUclips and watch dumb videos. The distractions of our everyday life are so evil and always present, it's hard to shift your mind
Fully agree!!
Hopefully with the ETFs approved, they will market and advertise Bitcoin to regular people (and hopefully they self custody).
wait for the super bowl @@QDogg
@@bramk 2 weeks away! It'll be interesting watching the Superbowl as a Bitcoiner looking at the best BTC ads.
Rajat is great on X. Good run of guests so far, Bram
Thanks Luke! Got some great ones coming up 🫡
I have gravitated toward Rajat on X. His tweets are brilliant. He brings the conventional thinking of CFAs, who I respect greatly, combined with the unconventional thinking of a visionary speculator. He’s a diamond in the rough.
Agreed!
I’m gen x. I learnt that painful lesson to never sell bitcoin under any pressure circumstances.
I can assure you most of Bitcoiners have learned that lesson!
Preach brother!
A corporation is very "touchable." Bud Light is a classic example. Now there will be commercials for Bitcoin ETFs, but regardless of what those ads try to convey, Bitcoin itself will not be touched, boycotted and switched for some crypto. The ETF can be switched but Bitcoin can't and who would want to? Because of its immutability, I'd almost suggessg that Bitcoin is the first money you can legitimately "worship." Okay, I'm exaggerating, but I think I'm making a valid point that there's a spiritual quality to Bitcoin.
100%
You’ve earned my respect,
This is the lingo I’ve been looking forward to hearing - some deeper conversations in the lifestyle change that’s involved- but the sheep’s and hamsters on the threadmill need to overcome our selfishness and self centered pursuits🙏
Happy you enjoyed it!
Subscribed. Good luck with the channel. 🤞
Welcome aboard! 🫡
Favourite new Bitcoin podcasts. One of the best around already!
Keep up the good work.
Thank you!! 🧡🧡
Very thought provoking discussion.
I plan to go through many more podcasts on this channel to understand this complicated but fascinating topic.
Thanks for sharing.
Thanks for sharing! Welcome!
Killing it with these interviews!
Thanks!🙌
What a great conversation ! Keep it up !
Thank you! Will do!
Great guest! Rajat is so knowledgeable.
Happy you enjoyed it. I think so too!
"Addicted to Bram!" Thank you for more dopamine...
Let’s goooo
Bram think differently regarding guests - all insightful and interesting
Thanks!
Very instructive, thank you
Glad it was helpful!
Rajat is confusing Grant Cardone with Gary Cardone, Grant’s twin brother… Grant is still very bullish on multi family real estate while Gary Cardone is bullish on Bitcoin and crypto currency in general.
Great Interview, I’ve Learned A lot Appreciate you guys
Glad you enjoyed it! Thanks for the feedback 🧡
Bitcoin can be cashflowed but that comes with counter party risk. Just as any cashflow instrument has.
Make lots of sense. Real estate investment was a good investment when you got in 2008 to 2012. The ROI is somewhere between 25 to 35%. However current rate is about 3 to 5% which is much lower than the inflation and currency debasement. Now is the good time to sell the real estate and invest in bitcoin.
Yes! Listen to my episode with Leon Wankum :)
First business I sold I deposited all in the bank and wanted to take out $100k cash- all kind of why questions, verification and run around to 3 banks because they didn’t even have it available- never again!
1:15:37 How does one make money holding BTC?
How does the pizza analogy work if money borrowed into existence gets extinguished once the loan is paid back?
It was Gary Cardone not Grant that said that!
We know haha
Rajat is great on X
Agreed! 🙌
Great episode with the twitter-goat
27:02 The hedge funds bought single family real estate did so for a return. What's the return on BTC if you aren't trading it?
The return is freedom, independence, energy, time, peace (no financing of wars), justice, store of value (no exploitation). For more listen to more on this channel. All the best!
His view on real estate is flawed