Nothing in life is linear. Linear expectations lead to disappointment. There will ALWAYS be ups and downs. If you want to grow, you need to learn to accept volatility. This applies to personal growth, investments, relationships, etc.

HAVING money doesn't mean you're GOOD with money. Extremely wealthy people have gone broke because they weren't financially literate.

Never expect your parents to bail you out in a financial emergency, or your kids to fund your retirement Take ownership of your own future

US Dollars are backed by NOTHING. In 1971, Richard Nixon "temporarily" suspended the conversion of USD to gold. The price of gold in terms of US Dollars will increase forever, because gold is scarce and USD are not. In 1971 gold was $35/ounce. Today, gold is ~$2,000/ounce.

When you're financially illiterate, banks make you poorer: - No growth on savings - Extremely expensive loans for consumption (credit cards) When you're financially literate, banks make you richer: - Retirement and brokerage accounts - Cheap loans to buy assets (eg. Mortgages)

I first found out about Bitcoin in 2010 when I was 17 years old. I ignored it because it seemed too complicated. Then I heard about it again in 2013. I ignored it because I was busy with school. In 2019 I was introduced to it by a coworker who told me to listen to an interview with Michael Saylor. I ignored it because I was busy with a new job. I listened to my first podcast about Bitcoin during the pandemic when I started working from home in 2020 and had time to go for walks in the evening. When I finally started learning, I felt like I was too late. Now that I understand the technology and why it's so important to humans, I realize you can NEVER be too late to Bitcoin.

Increase cash flow to become rich Invest to become wealthy

If you're a long-term investor, you should be happy when asset prices drop. Financial freedom is being sold at a discount right now.

Money is not a reward for working hard. You get paid for adding value

You can buy most things in life for $200 a month. That includes financial freedom.

One of my favorite quotes: “Whether you think you can, or you think you can't – you're right” - Henry Ford

If you don't invest, inflation will transfer your buying power to someone that does

A mortgage is "good debt" BUT You shouldn't buy more house than you need Here's why: 1) Bigger payments: Every $100k of mortgage debt you take on is an additional $500+ monthly payment you'll have for 30 years. If this $500/month was invested in index funds, in 30 years you would have a portfolio worth ~$1m AND a paid off house. 2) More cleaning: A bigger house doesn't just come with a bigger payment. More of your time and energy (or money) will go towards cleaning your living space. Even if you don't use a space, regular cleaning is required! 3) More property tax: Property tax is charged as a percentage of assessed value (increases over time). If property tax is 1%, every $100,000 of value will cost you $1,000 per year. Over 30 years, property taxes on a home valued at $500,000 will have cost AT LEAST $150,000. 4) More maintenance: More living space means more space that needs to be repaired and maintained. Buying a bigger house might mean projects like painting, changing floors, or a new roof can cost A LOT more. 5) Expensive utilities: Heating and cooling a big house could be a lot more expensive. An extra 1,000 sqft of home could cost $1000+ per year to heat or cool, depending on where you live. 6) Wasted space: All the room you have probably won't be used. Having more space just means you need to buy more things to fill it up. 7) May not be a good investment: Bigger houses generally have lower demand because fewer people can afford them. This means prices don't increase as fast (or as much) as mid sized homes. 8) Higher closing costs: Closing costs are 2-3% of the price of a home. Every $100,000 you spend will cost you $2000-$3000 more. Buying a bigger home costs a LOT more. It can mean you: - Might not invest as much as you should (or at all) - Don't get to enjoy your life (because you're house-poor) - Could go bankrupt if you lose your income and can't afford the payments If you buy a smaller living space (something reasonable, not a studio) it may feel like you're getting very little space. In reality, it's less space that will be occupied by fewer things. Learning to cut down on buying material things will help build wealth over the long term! I'm passionate about using my CFA to help more people improve their finances. If you like my content, help me out by: - Sharing this post - Following me - Subscribing to my personal finance newsletter: rajatsonifinance.com Thanks for reading!

A 2019 report showed that 72% of US adults choose to reduce risk if it means their finances are secure. Even if you're risk averse, you MUST invest your retirement savings. 2% inflation means a guaranteed loss in purchasing power of 50% every 30 years if you hold cash.

"If you push through that feeling of being scared, that feeling of taking a risk, really amazing things can happen." ‍- Marissa Mayer

If you let lifestyle creep get in the way of your money-related goals, you will NEVER be financially free.

Coca-Cola's CEO earns $25 million. He works 70+ hours a week (probably more). Warren Buffett owns 3% of Coca-Cola and gets paid a $218 million dividend every year. He works 0 hours every week for Coca-Cola. Don't just work for businesses - make sure you own them too.

Reminder: Prices aren't increasing. The value of money is decreasing.

You can invest for your kids and give them a million dollars when they're 40... ...or you can give your kids opportunities, tools, and knowledge that will teach them how to EARN their first million in their 20s.

Comparing Bitcoin to tulips is the easiest way to show people you make claims without doing any research.