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12min chapter
MI Rewind: What is Money? w/ Jim Crider
Millennial Investing - The Investor’s Podcast Network
Understanding Financial Planning Beyond Monte Carlo Projections and Bitcoin Volatility
The chapter explores the drawbacks of using Monte Carlo projections for financial planning and advocates for monitoring net worth and financial independence numbers regularly. It emphasizes the importance of behaviors within control, like savings rate and earnings potential, to guide individuals towards achieving financial independence. The discussion also covers the significance of risk tolerance, risk capacity, building equity value in businesses, having a USD emergency fund, and why some financial planners are hesitant towards Bitcoin.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode