Bitcoin will cost you twice as much in 2025
Bitcoin will cost you twice as much in 2025
Transcript
00:00 But I am very rational in my wealth creation. I'm not emotional. I'm rational
00:06 The guy who's running around trying to catch every little coin
00:10 He can put 500 bucks in and go look at that. It went up 200% that guy is unbelievably emotional
00:15 You know what? I know about emotional is easy come easy go
00:19 You know what I know about rational is
00:23 Takes a little bit more effort
00:27 But when it comes it comes big and it gives you the tools you need to keep it big
00:34 As I start to look further out in the future into my 60s, you know what I see I
00:41 See the life I lead today taking twice as much dollars
00:45 Which means that for you in your life, whatever age you are go 10 12 13 years down the road
00:53 It's going to take you twice as much
00:57 Money to have the same life you have today
01:00 And again, this is why I say get your ass out of debt
01:08 Well Jay on debt should I pay off my house hell yes
01:14 yes, 100% pay off your house pay off all your debt and
01:20 The reason I tell you guys that is because you can't have lifestyle
01:26 If you're leveraging your assets or those things which they label as assets
01:33 I don't even label them as assets. I mean when you're allowed to put a car down on your asset statement. Are you kidding me a
01:39 Depreciating asset you still calling it you still have the word asset on the back of that. How about just being an ass?
01:48 You can't have lifestyle guys if you have debt
01:55 It's I've been talking to you guys about this for seven years
02:00 Nobody writes in my calendar, but me
02:04 Anything I want to do I can go do I don't do it on debt I do it with cash
02:11 The the game is not cheap capital some people would say but yeah Jay I
02:20 I've got my house at like two and I had 2.8 percent man. That's such cheap capital and then I can go leverage that money
02:26 Okay, great. Go do that and
02:29 Then when you get the first curveball thrown at you like for example a bank going bankrupt and they call your mortgage and now mortgage
02:37 Rates are sixteen and a half percent
02:39 Let's see how that looks for you then and you don't have the capital to pay the house off
02:43 Because you leveraged it because you wanted to start a business and that business hasn't worked out too good because they threw a pandemic at
02:50 You and you had to close your doors
02:52 Good afternoon. It's crypto J here from the Bitcoin Academy
02:55 And I just wanted to take a minute to invite you guys over to our private community at
03:00 www.crypto
03:02 Jnet folks. We've been building our private community for about seven years
03:07 We've had very few people ever leave the community
03:11 I think the proof is always in the pudding and folks we've made easily as a team
03:18 Over a billion dollars. I remember one specific trade. We took
03:21 390 million dollars out of a single trade as a team and guys we're having a lot of fun
03:28 We've got people that are free. They're buying new houses. They're buying new cars their kids education is paid for
03:35 Come join us. We're having a blast. All we're missing is you guys come join us
03:40 Do you see how convoluted it can get when you start down the debt cycle
03:46 you
03:48 Start down that debt cycle and I'm telling you guys throughout my life. I'm gonna be 52 this year. I
03:56 Have seen I can't tell you the countless number of couples
04:01 Some of them I've caught off counsel with some of them. I know some of them are older
04:06 Some of them came before me and they lost
04:10 Everything why because they played the debt leverage game their whole life was leveraged out
04:17 Why to start a business to make an investment somebody's doing oil and gas somebody's getting in crypto and
04:25 before they knew it their whole life was one big leverage and
04:30 What that means is their whole life was a house of cards and with one strong wind
04:36 That comes along and huffs and puffs
04:40 It all comes crashing in on them
04:42 So, yeah, yeah, Jay, I'm I'm saying pay your house off
04:49 I'm encouraging you guys. I don't tell you what to do. I don't I'm giving you unsolicited advice today
04:57 But I'm encouraging you guys pay off all of your debt
05:05 You can have lifestyle with no debt
05:07 You know why because here's what you do. You look six months out in the future and you go gee
05:14 I think I'd like to you know, I don't know. I don't have a job. I've got a big income
05:19 now by the way
05:22 when we talk about big income as
05:24 investors
05:26 You've got to be a better money manager than the guy that has created a business with tons of cash flow in the crypto business
05:33 We don't have tons of cash flow. So you've got to be a good money manager
05:36 You've got to think four and five and six year cycles at a time
05:39 Like this last cycle, you know when my wife and I pulled the amount of profits we did out of crypto
05:46 We sat there and said to ourself. Okay
05:49 What do we need to live the same lifestyle we're living today, which which were completely at peace and happy with there's nothing in our life
05:58 Where we're going I'm just not happy. No, we're thrilled
06:02 We are thrilled how much money do we need to go five six seven years? That's how much we need. Okay, double it
06:07 That's how much we're keeping out