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On Money and Frugality: Your Financial Energy

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Money is energy. It creates opportunity and gives its holder the ability to act on their ideas and mobilize others on those ideas. Safe to say, how we manage this sort of asset is pretty important. Tune in to find out how frugality and smart money management can revolutionize your life, starting today.

Money is energy. It creates opportunity and gives its holder the ability to act on their ideas and mobilize others on those ideas. Safe to say, how we manage this sort of asset is pretty important. Tune in to find out how frugality and smart money management can revolutionize your life, starting today.

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TRANSCRIPT:

[00:00:00] America is going to go through some very, very tough times. And I don't mean tough times where like, Oh, we're not making a 10% return over year in the market. I mean like literal, breadline walking through the streets, looking for a place to eat food or for charity, basically.

[00:00:20] Welcome to the better human podcast. I'm your host calling stuckert entrepreneur CEO, father coach growth minded and obsessed with becoming better human. I'm here to help you level up your mind, body in life. I want you to become a better human. I want you to wake up every day, excited about getting to work, getting things done, working on yourself, and then making the world a better place around you.

[00:00:42] That's how we're going to change the future for humanity. That's how we're going to solve the biggest problems we have in 2021 and nine. That's how the world's going to become a better place for my sons and hopefully future daughters. The more better humans we have that can critically think that are self-aware the better chance we have at creating a future that we all deserve.

[00:01:02] Make sure you get all the updates over@collin.coach to get on the better human newsletter. You can also reach me any time. Colin C O L I n@wildfoods.co. Sports show head over to wildfoods and use code wild CEO for your nutrition needs. We have local roasted Austin coffee, our flagship product while cooking Tropic is a great coffee booster or coffee replacement.

[00:01:23] If you're trying to start a coffee off as I've been doing lately, obsessively sourced, real food products from nature to support your lifestyle needs. Let's get to the show.

[00:01:38] What is up, everybody? Calling here for another podcast are actually gonna probably post this on multiple shows. This is not going to be work friendly, safe, probably not because this is actually a chapter in my upcoming book. The better man, I don't have a subtitle yet, but it's also the better man podcast.

[00:01:54] The better man website, which you can get on the launch list that more, better men.com. Focused on helping build sovereign, independent [00:02:00] thinking, critical, healthy functioning leaders of men that we need more of moving into our modern era. It's also show for women. I mean, there's a lot, you can learn there.

[00:02:07] And there are a lot of the same mindset. Principles are gonna apply to both sexes. But today I want to talk about wealth. It's about money and what's our spending for Galilee, the psychology of money. Uh, we're living in the most, one of the most ridiculous hyped up times. In modern finance. I mean, we could probably go back to the self seized bubble or the tulip mania craze and find some similarities and that craziness that's going on in crypto, in real estate and stocks, uh, like obviously the GameStop thing that happened recently, people that are trading, you know, which I don't recommend at all and how most people think that investing is trading, even though it's not.

[00:02:40] So there's a lot of things here and w we're headed for a major correction. Nobody knows when that is. You know, we've had people that have been talking about a major correction in America for a long time now. And the fed keeps papering over by printing trillions of dollars, but we've never hit kind of the velocity of money creation that we've hit in the past.

[00:03:00] I would say 16 months. So there's actually, it's about one fourth of one fifth of all us. I think it's actually one fourth. Now a quarter of all us dollars in existence have entered the money supply in the last 16 months. Hm. Interesting. Okay. Now the Biden administration is proposing a new infrastructure bill, which I think they want to spend like six or $7 trillion.

[00:03:23] Now, at what point is the rest of the world going to be like, Hey, Mr. American, you're just making things out of thin air. You're just typing them on a computer screen and then you're giving them to us or lending them to us as they do in other countries like in Africa. And then we're supposed to pay you interest and pay that money back.

[00:03:38] Something you create a thin air supposed to be, then work something. And this is obviously ridiculous. And a lot of people understand this. A lot of people don't, but it's just something that is like at this house of cards that is maintained because it's gonna be very painful to fix. And a lot of people have become addicted to dollars.

[00:03:55] I mean, a lot of other currencies aren't doing so hot right now, either because of the same [00:04:00] feet problems. So there's going to be some, some really crazy times ahead. I'm not going to spend time talking about big one, because I've talked about that in other places, the thesis is buy Bitcoin, use it to become your own bank.

[00:04:13] That's what I'm doing. That's where our family's done. That's what I recommend everybody do. hope.com would be a good intro. Michael Saylor, pretty much like a hero of our generation is going to go down in history. As you know, probably a pivotal change maker for bringing crypto to fortune 500 companies, which is going to then, I mean, it's crazy.

[00:04:31] It's going to happen. So this is about money though. And wealth. Ah, where do I start with this? I mean, let's start with the fundamental reason why most people suck with money. It's biology, it's psychology. The more lacking in self-awareness you have generally the worst with your money. You are because you don't really understand why you're doing the things you're doing.

[00:04:51] You spend money on ego purchases, you spend money to fill a void in your psyche instead of doing. That inner self work that needs to be done. You buy things that give you a temporary high, whether that's drugs, whether that's food, whether that's sex, you know, entertainment, even it's a distraction. And you like those short time preference things where you want a high now low time preference, I guess, is a better way to say it.

[00:05:14] So low time preference is somebody that places emphasis on the future, right? So you're a long-term thinker, a high time preference is you want that fixed now? Okay. So you want to be a high time preference person. You want to have a longtime preference. You want to think long-term, and that's why most people suck at their money is because evolutionary.

[00:05:36] Uh, the evolutionary implication for humans is that we live in an immediate reward environment in the wild. So if we found food, we ate it right away because we couldn't preserve it or save it for later. Nowadays, we have food on demand or sex on demand, or like entertainment, distraction on demand. We can get dopamine hits all day long.

[00:05:52] We can seek validation on social media, right? There's always some high that we can get, uh, in the wild that wasn't the case. So mother nature program, homo sapiens [00:06:00] sapiens, which is modern anatomical humans to do things that rewarded them. Quickly fast because the environment was scarce. So this is the fundamental mismatch of our species and why?

[00:06:11] One of the core reasons why people suck with money, then we can get into things like ego and its securities and try and keep up with the Joneses. Then we get into things like status where humans always want to kind of at least be on the same level of people. Like they've done research on, like they did polls around this where people would rather make, um, like $75,000 a year.

[00:06:33] If everyone else may send me $5,000 a year, rather than make a hundred thousand dollars a year, if everybody else was making $150,000 a year, like they would give up $25,000 a year just to be in the same level with someone and not have them higher than them, even though it actually doesn't fundamentally make any difference to their lifestyle.

[00:06:50] Uh, other than just really the way they think about it. And a hundred thousand dollars a year actually brings them more abundance, security, prosperity, whatever, but because it's less than $150,000, it's less than what other people are doing. Psychologically, they can't handle it. So like I said, I'm going to post this on both pots, so better human better, man.

[00:07:07] There's principles in here about wealth, about frugality, the psychology of money. I'm going to talk about each of those a little bit. I'm going to try to keep this shorter and just kind of give you an intro. Cause I'm gonna talk a lot more about finances moving forward. I might reference men here and there, but this is applicable for all people, your money and your investments, your wealth.

[00:07:26] Is a representation of your monetary energy as sailor calls it. And this is one of the big aha moments for Bitcoin for me, and why Bitcoin is a greatest asset Humane's ever created. It's the highest form of monetary energy storage the world has ever seen. It's akin to the discovery of fire or the wheel.

[00:07:42] It's fundamental. It's elemental. It's a elemental force. It is divine as max. Kaiser says your wealth is. You converting knowledge, some kind of energy. So knowledge, energy, physical labor, energy, um, you use capital, use people to leverage and take [00:08:00] risks, and then you get rewarded. And then that, that those rewards is a representation of energy.

[00:08:05] Again, that you then want to put into other places for energy storage, then that can then produce you and energy return. Okay. The big aha moment for me. Understanding money and I've, I know the advent of money of civilization. I've researched all these things. I've read lots of books on them, but I never really thought about money as a storage of energy.

[00:08:24] So it's really fascinating when you get down to the first principles of it and you really get into it deep and think about it. This is also the final aha moment from my true Bitcoin epiphany, where I really went like all in a Bitcoin, rather than just having a small percentage of my portfolio, even though it was like 15% is still substantial.

[00:08:38] When you spend your monetary energy on things that don't have a long. Terms kind of sustainable, um, use case or they can't generate a return in some way, your giving up security and sovereignty and future time and opportunity because money financial energy, you know, is stores for later to be used. The rich people, they know that their financial energy is the greatest asset they were ever going to have, because they're going to put that into.

[00:09:11] Assets. I mean, it's actually not an asset. It's just the storage of energy that then gets moved into an asset that can produce financial energy. Right? So buying real estate that produces income buying Bitcoin that I can leverage against then by real estate producing I'm buying businesses that cash flow.

[00:09:24] Okay. So when you spend money on the short term, highs, your giving up future security, I mean, you're basically giving up future time because you know, energy is converted into time. It saves you time. It can buy you time, right? Whatever. So without getting too philosophical into all of it, it's pretty easy to understand when you save your money slash invested in something, you store your financial energy.

[00:09:47] You have that for a rainy day, right? You have it to maybe be able to quit your job because you have enough to live on, or you have it to produce income from assets that you buy that then pay for your lifestyle. And what's insane that in 2020, 20, [00:10:00] 21, mostly through Bitcoin, but also just like. Just, I mean, if you just use your money correctly, the opportunity to build a perpetual money machine that takes care of your life is available to every single, I mean, maybe I shouldn't say every single, because if you're living in Venezuela or Zimbabwe or somebody other, other countries that don't protect personal property rights and that are fleeting away, their dollars, whatever, like you need to get out of that country, but let's say in the West, in any modern industrialized, Western civilization, Generally, you can create a perpetual money machine.

[00:10:28] And what's great with Bitcoin is you can literally be your own bank and do this outside of the system because the system will continually rape and pills you. But we won't get into that today. The opportunity for anybody, even if you're making 12 bucks an hour, you just funnel as much extra money as you can into buying.

[00:10:42] Let's say pay coin, maybe buy some income-producing stocks. Maybe you have a little bit of silver for the long run, maybe a little gold for a long run. I don't know. I don't really like gold anymore, but maybe a little bit silver. And you keep doing that. You keep buying assets. Eventually you can maybe buy a house that you live in and maybe rent out part of it.

[00:11:00] Or maybe you buy a house that is purely an investment that you rent out through Airbnb, and then you make some money on that. And then you do that and you do that based on your mortgage and you buy another house and you go, go, go, go. And then eventually you have your real estate portfolio of like five to seven, you know, Airbnb properties or whatever it is that are then paying you $5,000 a month collectively over your carry, which is basically your expenses.

[00:11:20] And then bam, you live off that money and you're financially free for life. And every year you actually increase. Your financial position, that's attainable for everybody, literally everybody. And then maybe you only acquire a couple hundred thousand dollars in assets in your lifetime because you just never break out of like the 15 bucks an hour job.

[00:11:37] And you pay a lot in taxes over your lifetime and you still have to live. Like I get it. And then inflation is chipping away at your buying power and earning power. I get it. And I would tell that person to buy Bitcoin and it'll protect himself. But even if you didn't buy Bitcoin and you just did a traditional stock market investing or whatever, over like 20 or 30 years, you should have enough to be able to retire on.

[00:11:55] And maybe you use that nest egg [00:12:00] as they call it to live in a place like Philippines, where it's like 500 bucks a month to live like a King or like South America somewhere or whatever the world's becoming more globalized anyways. You can hop on an internet connection and basically produce income anywhere in the world.

[00:12:13] So understanding all of this, like reading books about what money actually is watching videos about Bitcoin and like watch some of Michael sailor's videos, you have to understand the history of money, the history of civilization. You have to understand what Fiat is, what inflation is like. You're playing in this game and trading away, large swaths of your life, potentially 30 years doing something that just everybody else does.

[00:12:36] So. People think that Medicare is going to be there or Medicaid, or like, um, what's the retirement stuff, the, uh, social security, right? That's gonna eventually be bankrupt. It's gonna completely collapse. So people like are playing that game where they worked for 30 years, 40 years for company and they invest in their 401k and they're getting paid this Fiat money.

[00:12:55] And every year the cost of living goes up, inflation goes up, you know, like the asset we have asset inflation. So those people that are trying to escape the nine to five. You do it through buying assets, but assets keep rising so that it becomes reserved for the ultra wealthy. It just increases the gap.

[00:13:10] It keeps happening. Now Bitcoin is the answer, but like, again, I keep coming back to that because like, it's like, it's a solution. My point is if you're playing that game and you're just blindly doing what your parents did or what everyone else does, or what is considered normal, you might literally spend 30, 40 years of your life and then be fucked.

[00:13:30] And then you have to be a Walmart greeter for like the last 40 years of your life for 30 or 20 or whatever you're looking to get like, fuck that. So that's why a lot of what I'm doing now, just trying to wake people up, you know, Bitcoin is, is, is like literally just the answer is buy it, hold it. Don't fuck with it.

[00:13:45] Don't touch it. Don't sell it. That's it. So all you have to do, and then obviously, maybe learn about stocks and real estate and like get a basic financial understanding, understand the risks with each of them, understand what inflation is. I mean, you really need to understand what inflation in Fiat is and what the government does and [00:14:00] how, like you can't just keep printing money.

[00:14:02] You can't just make it F in air, like something that you can make it a thinner has no value. The American dollar has lasted so long because we dominated the earth after world war II and became the reserve currency. Nixon took us off the gold standard in 61 or 70, I think of 71. And like we've had all these fragilities, we've had all these financial collapses every so often.

[00:14:20] We're gonna have another, one's going, gonna be huge. It's just really, really scary because if we have a hyperinflation scenario, we were very quickly devolve into a zombie apocalypse shit where electricity goes out because now the dollars that everyone has to pay for their electric bills is worth nothing.

[00:14:35] So electric means can't take it. They can't maintain food prices go up for the same reasons. If the world stops accepting, you must the hours and they'd kind of band together and they say, Oh, we're going to do China. We don't do that yet. Or we're gonna do this or that or whatever, like. America is going to go through some very, very tough times.

[00:14:48] And I don't mean tough times where like, Oh, we're not making a 10% return over a year in the market. I mean, like literal, breadline walking through the streets, looking for a place to eat food or for charity, basically like people that aren't prepared, they don't have any Bitcoins at hospitals that don't silver that have like resources.

[00:15:03] They don't have ammo, they don't have gasoline. They have nothing. They will be beholden to their local environment. And I was in here in Austin recently. We just moved into a house. No mageddon hit. They're calling it Snowmageddon. It's like the craziest storm that Austin seen in like 40 years or a hundred years or something.

[00:15:17] We ran out of power for nine days. Okay. We were bringing Ikea shelves in the fireplace for warmth, and we had two, two year old and a six month old, we found a hotel the next day. Couldn't find it till everything was booked. We went to a friend's house. Fortunately, certain parts of the city had electricity.

[00:15:35] And I'm sure the nice part is they didn't run electricity. I bet you that. And. I realized very quickly, how fast things can devolve into survival mode. Like you wake up every day and there's always things we take for granted running water. I mean, yeah, we couldn't no water, no water. Oh. And then our house flooded by the way.

[00:15:51] Yep. And so I'm in there in 20 degree weather shoveling out like inches of water in my living room, right in my kitchen. And then coming from [00:16:00] upstairs and coming from above that, it was three stories of water just going everywhere. I promise you, I'm not going to be unprepared like that again. So Mexico and escape route is something we're actually working on right now.

[00:16:12] We already have our passports. We have a Bitcoin, we have all these different things. People don't realize how fragile society civilization really is a good movie to watch on that is actually diehard with a, I think it's with a vengeance. It's the one where there's a fire sale and they shut down the power grid and the communications and it like descends into total chaos.

[00:16:32] I actually think they don't represent how bad it would get and how fast. Cause, you know, it's a movie action movie. So like most of it happens in like two days period of time. But if that should happen, power goes out like on the East of the West and you have millions and millions of millions of people without power shit gets squirrely very quickly.

[00:16:48] Some of the books I've read would predict that gangs because they're kind of an organized unit that would be willing to break the law, do whatever they need to do survive. They would become the new power brokers and like you'd have to then go to them and they would have all the resources and they would have these exorbitant prices and like, It can get very scary very quickly if you have no prep.

[00:17:06] So maybe this will wake you up a little bit to do some research on your own, understand that you're playing a rigged game. It's rigged for the elites. It's right. For the powerful. They're also basically trying to scramble to maintain it. It's like this house of cards to keep trying to throw patchwork on, to keep it up.

[00:17:20] But eventually that patchwork is gonna be on top of patchwork. Instantly get more fragile, more fragile, more fragile, and then eventually breaks down. And then it's bad. It's very bad. Understand the game you're playing understand the risks that play, because if you think it's going to your job, making your money, putting that into like an index fund or this or that, or the stock market or whatever, or just like keeping in your bank account, which is the worst thing you should do understand the risks of that, because there's a few really big risks to doing that.

[00:17:43] Very big risks yet because the masses that blindly and it's what everybody does. It's just group think one-on-one nobody questions. It, they don't understand it. They don't even literally know the rules of the game that they've been thrust into. There's like a quote recently, like men are born free, but everywhere they go [00:18:00] there and change or something like that, like that's what modern citizenship is all around the world.

[00:18:06] And if you're born in a place like Zimbabwe or Venezuela or whatever, like you have the hardest game, like you're born into the hardest game, there is. And one that you actually can't really, when you have to just get out of it, you have to like figure a way to like exit the game, figure out some cheat code to get out of the country.

[00:18:19] So, yeah. Scary, scary shit. And this is about an intro into thinking about the game you're playing wealth, money, your financial, your monetary energy, getting into. A mindset of accumulating assets and protecting your wealth and your sovereignty, not spending, not playing the stupid broken game, not trying to fulfill your ego with vanity purchases and other nonsense like that, buying Bitcoin to protect yourself, you know?

[00:18:46] And so I have some notes, let's get over them real quick. So every extra penny you add to your war chest, right? Your financial machine gives you more time, freedom and opportunity later on. Eventually you can reach a point where it takes care of you. That's really what you want. That's what everybody wants.

[00:19:00] You want to build a financial money, perpetual motion machine as I call it that then just spins on its own, throwing off income that you then reinvest and just keeps growing and growing and growing itself. What's an analogy like just some blob of energy that just, the more you shoot at that sugar gets, right?

[00:19:15] So you want to build that. You want to keep shooting money at it and making it bigger and bigger and bigger, bigger, then increases security and increases your result, et cetera. For gouty, you should go from a, I want to spend and feel good and get temporary highs too. I want to feel good about my assets, my security, my future.

[00:19:31] Literally that's the shift. And about 50% of Americans don't own assets, they don't buy assets. They don't think about assets and they will be the ones that will suffer the most, especially their children, which drives me nuts to think about they will hurt the most in the upcoming financial apocalypse, because there will be some kind of financial apocalypse.

[00:19:49] We don't know how bad it's going to get. We don't know how it's going to, we don't know if we'll stabilize real quick. Like maybe Bitcoin will actually be a thing that can stabilize. It might actually save us. Right. But there'll be some very, very hard times through that transition period. It could be a [00:20:00] collapse of government, you know, it could be like the military being like, you're not paying me.

[00:20:03] And I saw what you just did. I'm out peace. I got to take care of my family. Like shit like that. Yeah. It's pretty, pretty crazy. So. A few books to read on this and resources. So hope.com. Listen to the sailor series on the, what is money podcast by Robert Breedlove and Michael sailor. That's like a first principles into how to think about money, money's energy, et cetera.

[00:20:21] It's amazing. Then read the Bitcoin standard and just kind of pulling those threads. See what I take you. I would read debt. I would read. Any books you can find on the creation of money. It's eluding me, the, the books that I read on money. There's a few that really go back into like the Romans and the advent of banking and vaulting and gold and silver and all different things.

[00:20:39] Understand gold and silver. Why was it used as money throughout history? And then when you understand that you understand why Bitcoin is better in the future. So, yeah, it's really fun. Like when you get to this stuff and you, and you learn about it, you'll know more than 99%, it's pretty fascinating. So I highly recommend you do it.

[00:20:53] Do it as a student and I have a call I got to get on. Otherwise I keep going so more better.com. Even the better man podcasts, colin.coach with one L C O L I N. Dot coach. That'll get on the better human newsletter and questions, comments, feedback, whatever sends to me. You'll find me DME. I've got to go.

[00:21:08] I'll see you in the next one. Today's show is sponsored by wildfoods co real food, super foods from around the world. And particularly the wild patrol pick, which is one of our flagship products. So this is a coffee replacement and or booster. You can use it in the morning. If you're trying to reduce your caffeine intake or cycle coffee from time to time as I do, you can also use it the way I do, which when I'm having coffee.

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[00:23:53] And to help support small farmers. So again, wildfoods Darko use code wild CEO for 20% off your [00:24:00] entire order. Oh, I almost forgot real quick. Get on the better human newsletter over@colin.coach. I share some of my fare content from around the web, uh, something I improved each week. Something I struggled with a big idea and much more.

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