Ominous on Nostr: Spot on! #[0]

quoting nevent1q…3kqa

What is wealth assurance vs. wealth insurance?

Insurance - something that pays when a failure happens

Assurance - something that prevents failure in the first place

Hence I place bitcoin, gold & silver, a productive homestead, productive real estate, income systems, production systems, skills, tools and ongoing useful self led education in the "wealth assurance plan" basket.

I consider bitcoin the keystone in my plan and I think it should be in your's as well but there are 9 parts to this plan, if you have less that 6 pieces in your plan in a meaningful way, then you have work to do. You are not wrong or bad, you are just not done.

Bitcoin alone won't do it, nor will silver & boomer Schiff's gold, nor will just having a productive homestead. Without other "assets" insuring each other, every person who feels wealthy is weak and subject to attack and subject to market forces taking everything away.

What good is having a stack of Bitcoin and nothing more when the economy shits the bed in the middle of a bear market? Then you have to spend your stack to nothing just to survive while people like me buy it at a discount?

What good is your house when you can't pay the mortgage? What good is your box of metal when you have to pawn it to eat?

Listen to me plebs and would/should be plebs, the secret to wealth, buy appreciating assets and NEVER SELL THEM. The only way you ever let them go is swapping them for more valuable appreciating assets, and this is mostly done with real estate.

Build enough wealth that you can live on 5% or less of it, while that wealth accumulates though appreciation at an avg greater than 5%, and still don't "spend it", leverage it. To do this you need an assortment of assets that compensate for bad times on the others. Building this to where you can live on 2-3% is truly "the way".

You pay no taxes on your primary cash flow this way. It takes time and dedication. I am 50 and very "successful" but I am only about 70% to where I can shift into this mode right now. And that means I am 100% not doing it right now. I am still 100% in building mode.

I learned a lot from mentors over the years, made a LOT of money, was a VP of Sales for a billion dollar company and the best in that company by 29 with no degree. Built multiple businesses after that and have made a multi 6 figure income doing of all things podcasting since 2010.

However, if anyone had told me what I just told you now, when I was so young that Bitcoin was still 20 years away, I'd be typing this message to you from a small island nation called Jackistan.

I have been in Bitcoin since 2013 and have done very well by doing so, but I spent it in the early days, I shitcoined, etc. Had I simply taken this advice just 10 years ago, I'd be in Jackistan as well.

Most of you are a lot younger, you can keep trying to outsmart the system of wealth that is older than bitcoin, older than you, older that your granddad if he is still around. Hell this system is so old it predates most modern religions. You are not smarter than thousands of years of proven history.

Bitcoin is amazing, a blessing to any man or woman who choses to understand it, but it itself is not wealth, just the latest form of money. Wood is not fire, it is fuel for a fire, coal is not fire it is fuel for a fire. Get it? Changing the fuel, doesn't change the system of making, stoking and tending a fire.

Bitcoin is the best fuel for the fire of wealth man has ever discovered. Yet you still must light, stoke, feed, maintain, control and tend your fire.

Read or listen to "The Richest Man in Babylon" and when you hear or read "gold" change it to bitcoin about 75% of the time. Take it to heart or realize even if you do very well, all you have will always be at risk.

Again, you are not going to outsmart history.