Quick Summary of my journey to #GetOnZero HT to @JWWeatherman_ @LaserHodl and @heavilyarmedc they were a big part of this journey. I'm hoping others can provide feedback to improve my workflow.
1/8
1/8
I have been doing cash flow management with credit cards and unsecured LoC. Using velocity banking with my paycheck going into the LoC, then paying CC and other expenses from there.
2/8
2/8
Since I had adjusted to the cash flow style of personal finance it made sense to me to have #Bitcoin as the store of value instead of fiat debt. I ended up reworking the above method in the following way.
3/8
3/8
Take out policy loan from whole life insurance, deposit into @BankWithLVL account, purchase #Bitcoin. Fiat from paycheck goes directly to loan payoff. Pay CC bills and mortgage directly from LVL account. Repeat this per month or quarter.
4/8
4/8
I initiated this by purchasing 3 months' worth of cash flow BTC upfront. I did buy at higher than $40k so riding the wave down to $36k was tough.
5/8
5/8
Some problems: It is hard to round my purchase of Bitcoin with LVL at the moment. They are working on improvements that will improve this. Paying directly from LVL in Bitcoin is also clunky and requires human approval from LVL.
6/8
6/8
From listening to @LibertyMugs I understand that he got rid of his whole life insurance and does the identical cash flow management with a HELOC. For me it made more sense to use the WLI for cash flow, but it is still fiat denominated debt. Am I missing some downside?
7/8
7/8
I do expect the ride up for #Bitcoin to occur over the next few months and that should provide an equally interesting experience as I pay less for my monthly expenses.
8/8
~ Fin ~
8/8
~ Fin ~
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