Last month I stumbled on the bursting of the 2nd dot-com bubble, a historical perspective of the fiat system & bitcoin and started working on my personal FIRE-handbook:
Did the 2nd dot-com bubble burst?
In my opinion, Yes. Look at the crazy corrections:
So what? Time to buy the dip?
I decided to stop buying single stocks, after my decisions within my gambling-portfolio (where I picked single stocks) did diminish my wealth faster than the Venezuelan government.
Furthermore I am fully aware of my anchoring bias, that helps me resist to jump on these “opportunities”
I am sticking to my very simple crash-action plan, which I already used during the corona crash 2020 and shifted 10% of my non-stock assets to stocks after the 20% dip.
The problem of the fiat-system and why ethereum is the mother of all shitcoins
Saifedean Ammous went on the Lex Fridman podcast to make bold statements and shared interesting historical facts about:
- the success story of gold
- financing of wars
- printing money
- why he thinks most altcoins are shitcoins
- why bitcoin is a harder currency than gold
I don’t agree with everything he said but liked the discussion a lot and invite you to listen to it.
My personal FIRE Template
I promised on the Alan Frei podcast to share my personal FIRE template – realising later that without a handy checklist its absolutely useless.
So I decided to create a very condensed FIRE-Handbook with 8 simple levels:
Level 0: Know where you are
Level 1: Install a system to manage your money
Level 2: Reduce your expenses
Level 3: Increase your income
Level 4: Save & Get rid of debt
Level 5: Invest to earn money while you sleep
Level 6: Use your money to improve your life
Level 7: Be financially free
Level 8: Be mentally free from money
I will try to include 1 level per newsletter, so enjoy level 0: knowing where you are (my personal FIRE template is included there).
Unbelievable you read through all of this… thanks for boosting my ego.
Feel free to comment with feedback, questions or topics you would be interested to be covered here. I read every comment personally.
If you forward this to somebody who might like it, Elon Musk will grant you with 420.69 karma points.