The Wisdom Of Wealth
Wisdom Letter #26 | The One about Money
What is wealth?
What is your net worth?
How do you even measure your net worth? Is it your annual package? Is it the money in the bank you saved up? More likely, its the value of all the assets that you own, including your bank account.
That’s a good word there, VALUE.
How do you ascertain value in any area of life?
The 10 minutes you spend every week reading this newsletter, do they add any value to you? If yes, can you put a number to that value?
Let’s talk about the tangible assets that you actually spend money on. Like your phone, your shoes, watches, cars, houses and what not. How do they all add up to your wealth?
And add stocks, bonds and mutual funds to the list and things start to turn murky.
Which of your expenses are investments and which are mere accumulations. Does an asset’s value rise or fall over time and how does that impact your overall wealth?
And what about cryptocurrencies, what about Bitcoin? Do you own any? Are they an investment asset, or a currency, or a store of value, or a medium of exchange? Or are they just a giant ponzi scheme, a store of junk and a medium of bullshit.
Why do we even need cryptocurrencies, we hardly even understand traditional money well enough, computer code money is just an absurdity to the average guy on the street.
All this and much more, today on The Wisdom Project, we try to answer the most basic questions about money, personal finance and wealth. We get into the big hairy giant called Blockchain, and towards the end, we find out how to get Rich, without getting Lucky.
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