The Rules Have Changed: My Crypto Confession
So, the other day, I confessed to my brother that I have over 50% of my invested assets in Bitcoin and other crypto. His face? Pure “Are you out of your mind?” energy. I swear, it was like I’d just told him I was quitting everything to become a professional yo-yo champion.
Then I casually mentioned I’m up about $60,000 year-to-date. His response? “Well, what do I know? Everything I invest in loses money.”
Classic. But that’s the thing—it’s the conventional mindset: work hard, let someone else manage your money, and stick to the “safe” 60/40 stocks-bonds portfolio. For someone like my brother, who’s had a cushy career with executive roles and high incomes, that might be fine.
Me? I’ve been playing financial Whac-A-Mole my whole life. Divorce? Check. Alimony? Double check. Sales career with bonuses that are as predictable as the weather? Yep. I’m your classic post-Boomer Gen-Xer trying to claw my way through the leftovers of the Canadian Dream.
Why Am ISharing This?
...Because the rules have changed.
Working hard and saving in your RRSP or 401(k) isn’t the golden ticket anymore. If you stick to the old playbook, you’ll end up in a financial pickle, eating “government cheese” in your golden years.
And let’s be real—it’s getting harder out here. Money doesn’t stretch like it used to. Inflation is doing its best impersonation of that annoying guy at the gym who keeps cranking the treadmill speed while you’re barely hanging on. Why? Because governments are printing money like it’s Monopoly night, and there’s not enough actual stuff to back it up.
The result? Everything costs more because thevalue of money keeps shrinking. If you’re measuring your wealth by how much cash you’ve got, you’re basically playing financial charades with blindfolds on.
How Do We Escape the Hamster Wheel?
Step one: Stop using money as the only measure of wealth. Seriously, money is like that unreliable friend who never shows up when you really need them.
Step two: Use what you’ve got—your skills, your hustle, your smarts—to make more income and save it outside of the traditional money system.
Here are some options:
Buy a House: Sure, saving for a down payment feels like climbing Everest in flip-flops, but real estate can be a great long-term move. Its always nice to have a roof over your head and not have a landlord telling you his "niece needs a place so you are out!
Invest in Stocks or ETFs: (forget the 60/40 split) just buy good stocks for the long term and reinvest dividends.
Crypto: Yep, I said it. Crypto.
My Crypto Strategy
Now, before you shout, “ARE YOU CRAZY?!” let me explain.
Here’s how I’ve set up my portfolio:
- 60% Bitcoin (BTC): Like the Highlander says, “There can be only one.”
- 30% Miner Stocks: These are like the tech nerds of crypto—they keep the system running.
- 10% Altcoins: Think Solana (SOL), Ethereum (ETH), XRP, and Near. They’re riskier bets based on how the system is adapting to the new tech blockchain world.
My grand plan? By 2025, I’m cashing out all the non-BTC assets and reinvesting in income-producing stocks. That’ll give me enough income to cover life’s necessities (and maybe a few luxuries). Any leftovers? Straight back into Bitcoin, my financial safety net. When I need money, I’ll sell a little BTC, convert it into fiat, and buy “stuff.”
It’s like the circle of life, but with fewer lions and more spreadsheets.
Final Thoughts
Look, I’ve been blessed in life, but it hasn’tbeen smooth sailing. The traditional financial playbook? Didn’t work for me. So, I threw it out and started writing my own rules.
If you feel stuck on the hamster wheel, just know there are other paths to wealth. You don’t have to follow the crowd. Find what works for you and lean into it—whether that’s real estate, stocks, crypto, or something else entirely.
Me? I’m betting on Bitcoin, not just for its potential gains but because it’s a way to sidestep a broken system.
So, what’s your plan? Or are you still on the wheel, hoping the cheese at the end isn’t just a mirage?
Happy Investing