The Four Most Important Words of Financial Advice Are "Skin In The Game!"
There has been a lot of chatter recently about the battleground between precious metals and cryptocurrencies. Bitcoin versus Gold. Blah Blah Blah.
The best financial advice I have ever received is when a person who has credibility in both precious metals and cryptocurrencies tells me:
What they are buying
How much they own
What they refuse to buy or own
Don't tell me to do something or not to do something. Tell me why you have skin in the game and then allow me to make my own choice.
Have you ever heard the saying...I am not licensed to give financial advice? Good for you! Because the people who are licensed to give financial advice have zero credibility in my book if they tell you to do something that they themselves are not doing.
I am accumulating as much BTC, ETH, LTC, and silver as I can afford to buy. I am not a financial expert, although I am a licensed real estate appraiser. But I am no more qualified to accumulate these assets than the next person. But I know what happened to real estate in the Bay Area in the late-1970s. I know that people who did not buy back then were forced to pay triple the price years later. Buying real estate in 2017 is not the same as it was in the 1980s or 1990s. Everything is debt these days. But I am not complaining because I make a living helping lenders underwrite debt. But I also know there is nominal upside in today's real estate market.
But the cryptocurrency market is very early. And the gains in BTC, ETH, and LTC will be staggering within the next several years. I feel the same about silver. But I am not saying these things to convince you. I am simply telling you what I am doing and that I have skin in the game.