Let’s face it: Our financial system is rigged in favor of the wealthy. Rich people make “money moves” that most Americans simply can’t—I’ll explain 5 of them in this 🧵.
The solution to this inequality isn’t to take from the wealthy... 👇
...it's to make those same money moves available to everyone.
Unfortunately banks have done almost nothing to help regular working Americans get ahead—in fact they’ve done the opposite, offering their best services exclusively to the rich while nickel-and-diming everyone else.
The good news is that help is on the way. A revolution has begun…
Let's dive in and take a closer look:
There are 2 reasons most people can’t make the best money moves...
A young man once asked Mozart how to write a symphony.
Mozart told the man he was too young & should study more.
The man responded, "But you were writing symphonies at age 10."
Mozart: "Yes but I wasn't asking people how to do it."
🧵👇
Elon Musk said something similar of entrepreneurship:
"If you have to ask it's not for you."
Ouch.
We all have dreams & aspirations and there's nothing wrong with that.
Buuut...
👉If you haven't taken action you should ask yourself *why*.
As Mozart & Musk implied, those who *do* don't wait for approval or instructions. They bias toward action, jumping in without all the answers or expertise... because that's the best way to acquire those things.
Hear me out & this 🧵 may improve your life by 10%…
I talk a lot about minimalism. My 🛗 pitch is that it’s not what most people think. Minimalism isn’t about denying yourself & leading a monk-like existence...
👇
...it’s exactly the opposite!
It’s about removing things from your life that don’t bring true joy to make room for *more* of what does. It’s actually hedonistic (in a healthy way).
Someone recently asked me a great follow-up question:
🤔What should I remove?
Before I attempt to answer, let’s channel Steve Jobs for a moment. Jobs said innovation isn’t about saying yes to a good idea, it’s about saying no to 1000 good ideas to focus on making one idea *great*.
Home ownership continues to be the single most misunderstood topic in personal finance.
It’s the best investment available to regular Americans yet… 🧵
...there are still people out there advising against it under the misguided belief that renting plus investing the same money in the market is a smarter play.
It’s time to revisit the math…
The reason home ownership is such a great investment is *leverage*, which unfortunately is a concept most people don’t understand. I tried to explain leverage in a previous thread (below), but let’s face it—financial stuff is confusing for most people.
There is simply no better risk-adjusted investment available to regular folks. The only exceptions are if you don’t plan to stay 5+ years or live in a dying city.
(Also, a home is no different than any other RE investment except cheaper leverage is available. So in effect that tweet is saying RE is a bad investment 🤣. Again, your home is unique in that it’s a payment you’d have to make anyway. Why pay someone else’s mortgage + profit?)
📍 Boulder + Honolulu
👨👩👧👧 Married 24 yrs + 👧👧
🧗♀️ Kinda obsessed with rock climbing
🏦 Fintech when fintech wasn’t cool
📈Starting a newco (🤫)
💬 I answer all DMs
I’ve run hard & learned some things…👇
…mostly the hard way.
@evanmr recently asked me, ”What is the theme of your posts?”
My answer:
Using money to live a great life (plus climbing pics 😜).
👉My mission is to help others build true wealth (more than just 💵).
Here are the 5 tweets I’m most proud of:
1️⃣
My most popular thread, summing up what I’ve learned from 50 years on 🌎