I’m amazed and scared about the poor financial knowledge of my peers when I start talking about DeFi, Bitcoin, ETFs, Gold, stocks and so on. And I’ve the sad feeling that they’ll need to work until they’re 65 or more…
It’s already not a debate anymore that our traditional education isn’t educating us adequately in terms of financial knowledge in regard to the current world we’re living in. Yes, we can discuss how upset we are about this, however, that’s not something we can control. However, we can control whether we do something about it or not.
And that’s exactly what I want to address: the lack of financial knowledge among my peers in their youth, so 20s or 30s. Very few have invested in Bitcoin, Gold, real estate, ETFs and so on, thinking about how their retirements and future life will look like.
I’m certainly not a financial expert and I don’t want to push you into investing into something you don’t know. But youngsters spend so much time in their 20s partying, studying and working hard for grades, hence, pursuing things that in most cases won’t bring them as much financial freedom as starting to invest in their 20s into the financial market. And I’m not about only money in life, but I am about the freedom and experiences it’ll create for me and my future family.
Happily (yes, I feel that life has put me into that place), I invested into Bitcoin in 2017. I invested into Gold thanks to my mentor when Corona started to hit in China, knowing the principles of how a market CAN react in crisis time when inflation is going up. And towards the end of 2020, there seems not to be an end as the printing machines of the leading nations are certainly not going to stop. But most people aren’t even aware of what that means in regard to their money and why it actually would make sense to have an insurance***.
***I’m not talking about a life insurance! I’m talking about Bitcoin and Gold as they’re two examples of assets placed outside of the financial market which aren’t as correlated/ influenced as bonds, stocks, currencies when the economy goes down. (Again, I’m not a financial expert but I’ve spoken to my mentors & people in finance, giving me these basic insights you can also find all over the internet from BELIEVABLE PEOPLE).
IMPORTANT: This is not a post, where I’m pushing you into investing into something and telling you that you’ll be rich overnight. Every great thing takes time to build. I’m just urging you to take IMMEDIATE action towards your financial literacy as these turbulent times and trends of ageing populations are certainly not beneficial for your long-term income and retirement, although the job market will go up for sure in the future again. The component of AI taking your job is another variable which may be interesting when taking into account that you only want to rely on your income of your job for your retirement and financial freedom.
But I still want to make a harsh statement: if you don’t know how the compounding effect works and haven’t read books such as Unshakeable, Money master the game, the snowball, etc. + don’t have a financial plan for your future + you haven’t even invested into ETFs (which are an safe heaven thanks to their diversification), I’m wishing you a lot of fun to work until you’ll be old.
My bets on Bitcoin and Gold have been in some way luck too, I know. Who gets lucky though? Those investing their time and money or those doing other things? However, in addition to that having a financial plan for my future and investing into ETFs, stocks and real estate have been conscious decisions everybody of us can make once they acquire the financial knowledge needed to live your dream life.
The internet has given us knowledge at our finger tips, so not knowing is just being ignorant. We can be part of real estate deals without actually buying the whole property. We can buy Bitcoin for 10$, so there are no excuses for starting small. The compounding effect will help you in the long run. Not being in the financial market with stocks or ETFs is also proven to be the worst strategy as over decades the average market is always going up, look at the data yourself.
So: think about the next time you buy new shoes or go out for drinks. I don’t mean to become a minimalist but taking conscious decisions and starting immediately to invest will set you free in the future. I’m plenty in the market and have my financial plan set in place as I don’t want to miss my children growing up and me needing to be in a job for 10 hours a day to feed my family and keep up my lifestyle. Life is way too short for that.
Personally, I don’t need yachts, Lamborghinis, private planes and so on. And I don’t judge anybody wanting this, you do you. But I do want financial freedom with a good standard of living where I’ll be living on my terms. What’s your vision for this?
It would be a privilege to hear back from you regarding to this topic or taking a coaching session where we’ll be able to look into what your vision for life is and together work on a plan for your financial aspect of your future. Because in my opinion it’s also not the right choice to only work, not enjoy life in your 20s and invest everything. It’s about the right balance. But you won’t be able to find your balance if you don’t even know where you want to go in life.
Taking a conscious approach with a clear vision for your dream life will certainly put you on the right path to create the life you want!
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