A Tale of Two Monies

Key Takeaways

  • In 2009, a new form of currency called cryptocurrency was created, and Bitcoin was the first of its kind.
  • Cryptocurrency is a digital asset medium of exchange that is private, decentralized, and controlled by the number of units that are created.
  • Unlike traditional forms of currency, cryptocurrency works like a commodity in that it is very volatile and you can make a lot of money one day, and lose a lot the next.

The First $10,000

Key Takeaways

  • Putting $10,000 away a year for even just 10 years can make a huge difference.
  • If you put the money away in a 401(k)-type account where there are tax deductible and tax deferrable benefits, you will end up with much more money years down the road than you would just saving it on your own.

In Search of Wise Counsel

Key Takeaways

  • We tend to ask our close family or friends for financial advice when we should really turn to a professional to help us.
  • When looking for a financial advisor, there are a few things you should keep in mind, but LRC – Leadership, Relationship, and Creativity, is key.
  • Big-name financial firms are not always the best places to turn to for financial advice as many times, they have a set of services or products they are expected to push, whether you need them or not.

Investing in Life

Key Takeaways

  • Investing, like growing up, can be very complex.
  • Factors such as what markets you invest in, your personal goals and risk tolerance, how you diversify and allocate your assets, and who you use to help you invest your money, all make up this complicated system.
  • It’s up to you to determine how you are comfortable investing, but don’t be afraid to reach out for guidance to ensure you make good decisions about your money.