Income-focused investing costs you more than you think. Every dividend, every rental check, every bond coupon comes at the expense of total return. You're getting paid to accept lower growth. The better approach: invest for total return, let compounding run, and sell down when you need it. Capital gains becomes your income. Real estate makes this concrete. Investors who've sold entire portfolios to buy bitcoin are calculating the tradeoff: trade tenants, leaky roofs, eminent domain, transaction costs, and property taxes for an asset that's portable, divisible, and has outperformed everything. "Why wouldn't I do that?" is a harder question to answer than it sounds. I went deep on this across three podcast appearances — with a long-time FIRE advocate, the Orange Pill Docs (two MDs teaching bitcoin to physicians), and a financial advisor who had Grok classify me as a "bitcoin evangelist." I'll take it. Links to all three episodes inside.

🌐 On the Circuit

FIRE BTC #49 - 3 of my recent FIRE + bitcoin podcast conversations