Eric Olsen, Robert Kiyosaki, Eight Years discussed on Journey to $100 Million
The two books about finance that. I recently read that fundamentally changed by thought process. Hey there i'm eric olsen. I'm heaven days. Join us on our journey building. A one hundred million dollars company. What's happening. It's eric j olson. So i recently listened to two books by robert kiyosaki. If you're not familiar with him. He is the author of the seminal book. Rich dad poor dad which i had heard about for years but i just put off listening to put off. Listen to put off listening to it. I didn't listen to that one. I in the two that. I'm about to say i listened to that one second. The first one was this book by him called fake and it talks about money and how people teach and the assets that you own now. There's not not necessarily a direct correlation with the normal things that we talk about on journey to one hundred million dollars but in the journey to one hundred million dollars. We are going to need money. We're going to need capital in order to make this happen and so it was thought provoking and then also there's gonna be some action that kevin i take because of what we've learned. He's listening to the books as well. He already read or listen to rich. Dad poor dad and then fake i did it in the exact opposite order. Fake which led me to then be interested in rich dad. Port on the whole concept of these books is that you need to be very aware of how you keep your money. So as an example the us currency is getting devalued because the government is this flooding the economy with us dollars and with that the one that was worth something last year's worth less this year. So you know in in the book talks about different ways that you can preserve some your wealth and one of those ways was with cryptocurrency. There's lots of other ways real estate gold but cryptocurrency is what caught kevin and my attention and so of course. I've heard about crypto hasn't right. Of course i've heard about bitcoin. Who has it but it got me to really sorta kinda like look into it a little bit closer one of the reasons that i've never invested in bitcoin up until very recently after renews books is because i just. I didn't understand it enough. Where i wanted to put money into it. I didn't understand what motivated people to buy it. While would you buy this thing also. Didn't understand the motivation for buying gold. Frankly why not. Just keep your money in the bank right. Well the motivation is like i said currency over time gets devalued. The dollar you have now will be as much as a dollar a year but other assets like gold or crypto can maintain their value even regardless of what the you know some big entity like the government does so i started looking into crypto and it is literally when not literally but figuratively gold two point. Oh it's just like gold but as digital which is nice because i do want to invest in other things besides just you know bank accounts and mutual funds. I don't want goal. Because i don't want to stored in safe. That's ridiculous so a bitcoin gets stored digitally and a digital wallet. So i got into this kevin's been into it for a little bit longer than me. And we've agreed that we're gonna take some of the extra money that is in the array digital accounts and we're gonna actually put into crypto. We're not gonna put all of our money in crypto. We're not can do anything crazy. Like tesla where they put one point. Five billion dollars in bitcoin. Have that much money by the way. But we're going to take a very small wall risk amount of money. We're going to invest it into crypto in particular bitcoin. A theory oh so look. If you're in in crypto. I don't know exactly how i'm going to be talking about crypto going forward. You probably won't hear much more on this podcast about it. But i did want it to kind of relate to you some of the things that we're doing here to ray different ways that we're trying to make our money work for us and that is one way because right now got money sitting in the bank account and is earning point one five percent interest per year. It's nothing i mean is almost rounding error disppointed ridiculous if we can take that same money. Put into crypto lock in the value and then it appreciates which i think it will then. We can make a lot more from what i heard. This is validated in one. Quarter or something like that. Tesla made more money off of this crypto investment than it did by selling cars again avenue in the resources unfounded as what someone told me but hey if we can make a ten percent on crypto instead of point one five percent by keeping money in the bank and it doesn't appreciate quite as fast as a win if you're checking out crypt. These days hit me up on twitter. Hang out the most. I am eric j olsen. I'm very interested in a more about it. I'm still. I consider myself a new job. But i am I'm digging into that world. Pretty aggressively. Hey there eric j olson. I wanted to let you know about my book. Million dollar journey how to launch a seven figure business. This is the story of what it took for me to go from freelancer with no clients. No employs revenue to growing a million dollar business. It took me eight years. And i made a lot of mistakes and all of those mistakes and more importantly lessons learned are in this book and we have chapter takeaways five to fifteen takeaways and you can apply.