Using a DEX puts you in top 1% technology understanding stuck out the most to me.
If the average person knew the power of this (simply staking Sushi for xSushi and earning 5-10% on an appreciating asset) then prices would be exponentially higher than they are.
Putting it into that perspective definitely helps the people who feel “they are late”.
It’s quite literally is simple and when people realize they can beat the S&P 500 with a couple clicks, anyone will any type of crypto bag will accelerate NW in ways never seen before.
Great read. For the younger / newer Bull followers, one of the best pieces of advice from BTB is to keep your living expenses as low (close to zero) as possible for the next five years or so. After you get a high paying career and a second form of income up plus consistent DCAing into BTC, ETH and LINK you can really start stacking years of living costs up and inch closer to freedom.
Good read as always. I’m currently spending $10K a month and have nearly 35x my annual expenses as a NW. However, I’m still in my 30’s with a growing family. I imagine my expenses will go up dramatically over the next decade and Will need at minimum, $10Mish to feel comfortable… I am saving around $250K annually and through simple compounding interest, I imagine $10M is inevitable inside a decadeish…hopefully, the goal posts do not keep moving..:if you told me I would have saved $4M 5 years ago I would have thought it would be game over and would be a FIRE early retirement…instead, I just feel like another relatively successfulish young professional!
I was exactly where you were 8 years ago. Mid 30’s, wife, two kids in 4-6 range. Hit ~$3MM USTT NW and thought I’d made it. Then found the FKA WSP site and realized I’d only scratched the surface. Now I’ve 3x’d that NW and still know the best is yet to come. Working harder every day to make sure. WAGMI.
You're also beyond set! As long as you're happy and doing something you enjoy for work you're going to be living the dream (homeless on the beach of course)
That’s really impressive to have 3X’d…I can only hope
To do the same. I realize that I would be OK if I kept my lifestyle relatively consistent even without the active income… I have never really had any desire to flex or indulge, but want to get a nice house for the Fam and be on the water… Assuming I do so, the minimum housing price is 2-3M+, which would dramatically increase my monthly nut. I agree with BTB Re: housing, but what’s the money for if I can’t get enjoy it with the little ones. The rest of my expenses would be very reasonable and I would still be saving cash every year on top of my NW, just my capacity to save would be greatly diminished.
Not necessarily for $2-3MM. Depends on where you want to be. I’m in TX and 10 min from a lake with 3k SqFt for less than half of your low end. You can be waterfront for half your low end. Your mileage will vary.
That is a very good point… Unfortunately, only 10% of my balance sheet is in crypto… Not complaining, and I’m hopeful it will be substantially larger moving forward…the S&P 500 has also 2x over that duration.
Some governments are embracing the sovereign individual while others are still clinging to the old idea of what power is and are doubling down on centralized authoritarianism.
It's so obvious which model is going to be successful. I don't understand how people can't see it.
Culturally, I do not see this as being good. It yells that Florida may soon go the way of Colorado, Arizona, and other states that Californians have infested. It is even dangerous for the free future of Florida as these people will undoubtedly refuse to vote for leaders like DeSantis and we may very well be on our way to having a Gavin Newsom clone for Florida's governor.
I am starting to suspect, as a New Yorker running to Florida and from what is practically tyranny in NYC at this point, that this is an early warning sign of Miami getting on the radar of the same radical liberals who ruined San Francisco and now NYC.
happening to Nashville as well. NH getting a ton of Bostonians too. These people won't even admit they destroyed the cities they left. That being said, the old way is dying out and the sovreign individual is what is next.
I will never be able to make sense of these people and Californians, who left their old states, but somehow lack the awareness to know why they left their old states for.
Floridian here and I'm concerned about the same. I think it's possible/probable that as we move to the Sovereign Individual model, we'll see the impact of the larger governmental entities shrink and the smaller entities have more impact. For example, I'm on the SW FL coast and it's very conservative/wealthy. Our local government is great. With the move to remote work, you could have the benefit of the Miami boom in tech, live over here and drive the 2 hrs over if you needed to. The governor and the big city mayors could have less and less impact on you as an individual (unless you live in the city where the mayor is...)
Yeah but I also think to WSPs article on San Francisco vs NYC, it was one of the most based things I ever read, and now come to think of it we think of the CULTURAL impacts. Even as a NYer, I have seen how the influx of techies into the city have culturally transformed this place into one where people beg for vax mandates and the quality of women has surely gone down since well, San Francisco women look like trash (sorry trash, I did not mean to offend you by comparing you to San Francisco women).
It is not only the government politics but just having to socially deal with techbros, SJWs, and just that crowd in general.
Absolutely. So far, so good on the SW coast. It's mostly retirees who have made it and can afford to live here. There are plenty of families too but I don't know if I'd recommend for someone single (unless you really like older women...). But being separated from the techbros, etc., that will inundate Miami, while also reaping any benefits via remote work, could be good. Time will tell.
what are your guys thoughts on Miami? I can be remote but trying to figure out where would be fun for a single guy, but also not insane with vax mandates like NYC. I hear good things about Nashville as well.
Miami is awesome if you like big cities. I'm not a city guy. But it is a blast and I can imagine if you are single and have some money you can live it up. Huge Cuban influence so great food. And the mayor is great from what I can tell. Big BTC guy. I love Nashville too and have thought of relocating there (outside in the country). Both states have no income tax. I don't know about the TN government, but in Miami you'd have good local (mayor) leadership and good FL governor.
You want the MARKET to grade the city as a capital allocator. This wasn’t possible before. Now it is. Cities should become more efficient through CityCoins like MIA.
Well the coin spits out STX which spits out BTC. Check out miamining.com and click stats. It’s pretty nice. City can do airdrops to citizens if they want. Importantly as well, devs can program apps with it. It’s a really great coin.
@BowTiedBull I have a question for you. Do we need to have real estate or buy a house in order to make it or be considered in a good position? What’s the thought process? Thank you!
They normally respond to be as fluid and mobile as possible and if you're going to own real estate they recommend a modest home in a good state if within the US. They think real estate will be targeted in the near future with high taxes. If you look at the chart they post what *you* think you need to feel comfortable with x20. If that includes a house for you then that is right for you.n
Yeah that discord got some strange stuff going on in there, seems like it's independent from BTB or even a lot of the others around here, it just seems awful
Seriously dude, thanks for the great content. I'm bummed that I've only been a member of your newsletter for a month. Which is way too cheap btw, but I would never admit that.
Hackathon for Miami Coin Occurring.
https://www.eventbrite.com/e/miamicoin-makers-month-tickets-166707341145
Using a DEX puts you in top 1% technology understanding stuck out the most to me.
If the average person knew the power of this (simply staking Sushi for xSushi and earning 5-10% on an appreciating asset) then prices would be exponentially higher than they are.
Putting it into that perspective definitely helps the people who feel “they are late”.
It’s quite literally is simple and when people realize they can beat the S&P 500 with a couple clicks, anyone will any type of crypto bag will accelerate NW in ways never seen before.
With* wrote this faster than I read the article.
Remember that the moment that happens, the opportunity will be gone. Nobody will be earning 5-10% anymore when 3B+ people are online.
Point is if you’re in right now, you won’t be worried when prices are 10-100x what they are right now.
I won’t, I’ll be homeless on a beach.
Great read. For the younger / newer Bull followers, one of the best pieces of advice from BTB is to keep your living expenses as low (close to zero) as possible for the next five years or so. After you get a high paying career and a second form of income up plus consistent DCAing into BTC, ETH and LINK you can really start stacking years of living costs up and inch closer to freedom.
Ha to be clear it is roughly three. In a time like this (generational wealth) it takes about three.
"Give up three and you'll be free"
“Three years and you’re free” literally a mantra I said over and over again the first few years.
Good read as always. I’m currently spending $10K a month and have nearly 35x my annual expenses as a NW. However, I’m still in my 30’s with a growing family. I imagine my expenses will go up dramatically over the next decade and Will need at minimum, $10Mish to feel comfortable… I am saving around $250K annually and through simple compounding interest, I imagine $10M is inevitable inside a decadeish…hopefully, the goal posts do not keep moving..:if you told me I would have saved $4M 5 years ago I would have thought it would be game over and would be a FIRE early retirement…instead, I just feel like another relatively successfulish young professional!
You're beyond set as long as you keep working (mental health)
I was exactly where you were 8 years ago. Mid 30’s, wife, two kids in 4-6 range. Hit ~$3MM USTT NW and thought I’d made it. Then found the FKA WSP site and realized I’d only scratched the surface. Now I’ve 3x’d that NW and still know the best is yet to come. Working harder every day to make sure. WAGMI.
You're also beyond set! As long as you're happy and doing something you enjoy for work you're going to be living the dream (homeless on the beach of course)
That’s really impressive to have 3X’d…I can only hope
To do the same. I realize that I would be OK if I kept my lifestyle relatively consistent even without the active income… I have never really had any desire to flex or indulge, but want to get a nice house for the Fam and be on the water… Assuming I do so, the minimum housing price is 2-3M+, which would dramatically increase my monthly nut. I agree with BTB Re: housing, but what’s the money for if I can’t get enjoy it with the little ones. The rest of my expenses would be very reasonable and I would still be saving cash every year on top of my NW, just my capacity to save would be greatly diminished.
Not necessarily for $2-3MM. Depends on where you want to be. I’m in TX and 10 min from a lake with 3k SqFt for less than half of your low end. You can be waterfront for half your low end. Your mileage will vary.
That sounds very reasonable. I’m in SE FL, have to be close to family.
Prices were in that range 18 months ago snd have 2x since. House trading for 1.8M early last year now going for well over $3M.
2x in USTT but the prices are going down in BTC and ETH
That is a very good point… Unfortunately, only 10% of my balance sheet is in crypto… Not complaining, and I’m hopeful it will be substantially larger moving forward…the S&P 500 has also 2x over that duration.
These married dudes are killing it. Something about having kids that puts a huge fire under youre arse to make money.
Single dude living alone (when i say alone i mean no one is here, just me) sometimes are really tough to get through.
WAGMI bro <3 You ain't alone, the world is full of frens :)
Yes you think you need 5M USD to be financially set, and once you have reached it, you think that you need 10M USD...
What an interesting time to be alive.
Some governments are embracing the sovereign individual while others are still clinging to the old idea of what power is and are doubling down on centralized authoritarianism.
It's so obvious which model is going to be successful. I don't understand how people can't see it.
Suarez is a total Chad that probably never read the sovereign individual but gets it and wants to make Miami a leading city.
"May you be blessed to live in interesting times."
Culturally, I do not see this as being good. It yells that Florida may soon go the way of Colorado, Arizona, and other states that Californians have infested. It is even dangerous for the free future of Florida as these people will undoubtedly refuse to vote for leaders like DeSantis and we may very well be on our way to having a Gavin Newsom clone for Florida's governor.
I am starting to suspect, as a New Yorker running to Florida and from what is practically tyranny in NYC at this point, that this is an early warning sign of Miami getting on the radar of the same radical liberals who ruined San Francisco and now NYC.
The days of Florida may soon be numbered.
happening to Nashville as well. NH getting a ton of Bostonians too. These people won't even admit they destroyed the cities they left. That being said, the old way is dying out and the sovreign individual is what is next.
I will never be able to make sense of these people and Californians, who left their old states, but somehow lack the awareness to know why they left their old states for.
Floridian here and I'm concerned about the same. I think it's possible/probable that as we move to the Sovereign Individual model, we'll see the impact of the larger governmental entities shrink and the smaller entities have more impact. For example, I'm on the SW FL coast and it's very conservative/wealthy. Our local government is great. With the move to remote work, you could have the benefit of the Miami boom in tech, live over here and drive the 2 hrs over if you needed to. The governor and the big city mayors could have less and less impact on you as an individual (unless you live in the city where the mayor is...)
Yeah but I also think to WSPs article on San Francisco vs NYC, it was one of the most based things I ever read, and now come to think of it we think of the CULTURAL impacts. Even as a NYer, I have seen how the influx of techies into the city have culturally transformed this place into one where people beg for vax mandates and the quality of women has surely gone down since well, San Francisco women look like trash (sorry trash, I did not mean to offend you by comparing you to San Francisco women).
It is not only the government politics but just having to socially deal with techbros, SJWs, and just that crowd in general.
Absolutely. So far, so good on the SW coast. It's mostly retirees who have made it and can afford to live here. There are plenty of families too but I don't know if I'd recommend for someone single (unless you really like older women...). But being separated from the techbros, etc., that will inundate Miami, while also reaping any benefits via remote work, could be good. Time will tell.
what are your guys thoughts on Miami? I can be remote but trying to figure out where would be fun for a single guy, but also not insane with vax mandates like NYC. I hear good things about Nashville as well.
Miami is awesome if you like big cities. I'm not a city guy. But it is a blast and I can imagine if you are single and have some money you can live it up. Huge Cuban influence so great food. And the mayor is great from what I can tell. Big BTC guy. I love Nashville too and have thought of relocating there (outside in the country). Both states have no income tax. I don't know about the TN government, but in Miami you'd have good local (mayor) leadership and good FL governor.
You want the MARKET to grade the city as a capital allocator. This wasn’t possible before. Now it is. Cities should become more efficient through CityCoins like MIA.
I’m no wokist. I’m a crypto capitalist. MiamiCoin is good for holders and the city.
The "Pause and Look at the Big Picture" blurb is classic WSP wisdom
Sounds like a korean proverb to me
Concerning the net worth part: What about inflation? How do you know that your x annual expenses saved will be enough if inflation really kicks in?
Trinity study said that 25x your expenses should be OK even with expenses increasing at rate of inflation
Store it in BTC/ETH
Great post
Great post Patrick and Bull. Thanks guys.
@Patrick, How does the city of Miami and/or STX plan on attracting MiamiCoin users initially?
Well the coin spits out STX which spits out BTC. Check out miamining.com and click stats. It’s pretty nice. City can do airdrops to citizens if they want. Importantly as well, devs can program apps with it. It’s a really great coin.
Great Post Boys,
hi im a paid sub. where can i find the buy and sells in real time?
Bull I’ve had this question for some time… is it a good idea to buy coins off a centralized exchange on a friends/family identity?
Just the same way i would put the business on their name.
@BowTiedBull I have a question for you. Do we need to have real estate or buy a house in order to make it or be considered in a good position? What’s the thought process? Thank you!
They normally respond to be as fluid and mobile as possible and if you're going to own real estate they recommend a modest home in a good state if within the US. They think real estate will be targeted in the near future with high taxes. If you look at the chart they post what *you* think you need to feel comfortable with x20. If that includes a house for you then that is right for you.n
Is there like a chat room with people like you? Yeah cause I was about to go into rental properties. It seems like a bad idea now.
There are a couple jungle discords. I forget who has the links
https://discord.gg/s3fhK3ZP
Try that one. May or may not work
Yeah that discord got some strange stuff going on in there, seems like it's independent from BTB or even a lot of the others around here, it just seems awful
Sorry, thats the one I've been using and I'm not too familiar with discord.
I need to check it out! Thanks for your reply
Seriously dude, thanks for the great content. I'm bummed that I've only been a member of your newsletter for a month. Which is way too cheap btw, but I would never admit that.
No worries let us know how we can help!
What is the best exchange to buy STX on?
OkCoin in US