I find personal finance fascinating. Finding new ways to earn, accumulate, and grow your money is like a multi-generational game. Even a huge lead over someone else can disappear quickly. New "players" can quickly rise through the ranks with enough hard work, insight, and strategy. Long-time players will lose their place at the top if it's not well managed.
It's critically important to know why you're playing. If your entire goal is to just make a ton of money, what happens when you reach that point? And what did you sacrifice to get there?
If you know why you're playing, then you can figure out how much money is enough for you. You don't want to be 80 years old, working 100 hour weeks just in pursuit of passing Elon Musk as the richest person in the world. That's a lame mission. Elon got to where he is because he has very specific bigger-than-money goals, he risked everything for those goals, and he sacrificed pretty much everything else in life.
Personally, I don't need or want that. My faith, family, and community are the most important things in my life. I wouldn't sacrifice those for anything. I know how much money I need and I'm playing the game accordingly.
As with any decent long-running game, there are inflection points. If you want to "catch up," you have to work hard, but finding the inflection points will help you move faster. Blockchain is an inflection point. It's not a silver bullet, but with a decent strategy, you can "move up the ranks" much faster by devoting your effort here.
This week on the podcast, I talk with Jonathan Bloom about building wealth with crypto. Jonathan has spent his career on Wall Street. He understands the inner workings of finance. Now he's focusing on crypto, teaching financial literacy, and the life lessons needed to tie it all together. I hope you enjoy this one!
P.S. How much is enough for you?