Mr. Hobo Millionaire

The One Simple Reason Bitcoin, Ethereum, And Other Cryptocurrencies Will Not Succeed

I have a fairly short, quick, post today. I began really thinking about this a few weeks ago and shared my initial thoughts on the Millionaire Money Mentors forum. I’ve always been a bit skeptical of Bitcoin, Ethereum, Dogecoin… all the “random” cryptocurrencies, because they are all “made up” wealth values. Yes, I know all the economic basics that ANYTHING can be a storage of wealth. Even gold, the dollar, blah, blah, blah are just storages of wealth.

But I said this was going to be a short, quick, post, so here’s the one simple reason…

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The Biggest Benefit of Wealth

If you ask most people “What would you do with a million dollars?”, they would give answers like:

  • Buy my dream car
  • Buy my dream boat
  • Buy my dream house
  • Go on my dream vacation
  • All of the above

This list of answers is, of course, why these folks don’t already have a million dollars. They are too focused on pleasures and not things that really matter long term. Sigh.

Anyone who already has money would give you pretty much one answer to the million dollar question… they would save/invest the money and let it grow. They would tell you once invested, they could (if they wanted to) spend roughly $40,000 per year of this money without it ever depleting (the 4% rule).

Necessities, Not Things

Let’s get back to the main point of my post today. The biggest benefit of wealth…

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Why I Have My Entire Stock Market Holdings In One Single Stock (VTI)

You’ve heard the saying “don’t put all of your eggs in one basket” (because if you drop the basket, all of the eggs break, and you lose all of them). What I’m about to discuss is about having one egg in one basket… the difference is… when the egg breaks… it breaks into ~3600 little eggs. That one egg is VTI. It’s technically not a stock, but an ETF (a fund that you can buy and sell as a stock). It’s managed by Vanguard (and I use the word “managed” loosely). VTI is also known as a mutual fund under VTSAX (3K initial investment). Note there used to be a VTSMX with a 3K initial investment and slightly higher fees, but Vanguard did away with VTSMX and now there is only VTSAX (it’s all the same, and all VTSMX holdings were converted to VTSAX).  Now let’s get back to discussing this one egg concept…

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That Time… I Invested In A Three Piece Wheel Company

Today I’m starting a new series called “That Time”. With it, I will share some interesting stories (usually about entrepreneurship, failure, and what I learned from it). Without further ado…

Back around 2007, while still working on my yet-to-be-successful, one-man, small software company, I was still experimenting with a number of small business ideas and investments. I really couldn’t find enough ways to lose my money. Haha.

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The 7-Hour Workweek

I haven’t posted as much as I’d have liked to in the past month or so. The truth is I’ve been super busy. I was in Arkansas for three weeks helping my son rehab a new rental. I’m invested with him in some Airbnb rentals there. As anyone who’s ever rehabbed a house knows, it’s a lot of work. And the last couple of weeks, I’ve been doing some minor, but time-consuming, updates to software that I designed. When I work on a project, I generally go “all in” and commit full resources to it. Not just to get it done quicker, but I believe good (great) work requires complete focus. If you’re working on something business-related, I don’t believe you can do it half-hearted (at least not in the early years). So I generally work 10-12 hours per day until something is done. That means I’ve been working 70+ hour weeks the last 6-8 weeks. I don’t have a moderate switch.

The truth is, though, when I’m not going all out on a house rehab, or making a minor update to my software, I don’t have to work that much per week anymore to maintain my software company. A “small” software company that has recurring/subscription revenue of ~$700,000/year.

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FIRE (Wealth) Is All About Math And Choices

I blog a lot about this subject (choices in life), because it really is at the core of all that I believe. The sum of your choices in life will determine where you end up (and with how much money). Of course there are people who get the “short end of the stick”… that’s not you. If you’re here reading this, you’re alive, have internet, you’re doing better than the folks who got the short end.

FIRE: Financial Independence Retire Early

The math of FIRE is simply to save 25-30 times your yearly expenses and live off that savings by withdrawing 3%-4% “forever”. If you spend $30,000/year, you need to save $750,000 to $900,000. If you spend $100,000/year, you need to save $2,500,000 to $3,000,000.

A lot of people seem to think it’s impossible to save 25-30 times your yearly expenses. It’s not. It’s all math and choices.

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2nd Place – Movies, Actors, Auditioning, and Life

You’re probably wondering how in the world could Mr. Hobo Millionaire possibly have an opinion about actors and auditions. What you don’t know is I’ve  produced and cast a few independent movies in my lifetime. Seven (7) total movies/feature films in all. None of them have been super successful, but they have been good enough to air on Showtime, Starz, Lifetime, Amazon, and Netflix. In my movies I’ve worked with actors Lou Diamond Phillips, Mimi Rogers, Fisher Stevens, and Sean Patrick Flanery… just to name a few.

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