Kerry Lutz's--Financial Survival Network

Summary:
Where is money flowing from, and where is it going? Today, Jerry Robinson and I get on the podcast to address this question in regard to foreign affairs, cryptocurrency, and the precious metals. Robinson and I discuss some of our most universal pointers for building wealth, which at its core is achieved by diversifying your investments. Tune in to hear specific examples of how this sort of investing looks on a larger scale, and to learn how you can acquire more information and resources on this topic.

Highlights:
-Where is the money flowing from, and where is it going?
-Understanding money flow allows you to view the world from another perspective
-China’s fortunes have shifted recently. For years, they have outsmarted the US and have been underestimated by Washington
-The top media outlets spent five whole minutes talking about Afghanistan last year. This year, there is breathless reporting on Afghanistan
-The US has miscalculated China’s ambitions, as well as in other military missions around the world
-China is negotiating new deals with Afghanistan, and using their soft power to do so
-Immanuel Kant’s saying that ‘commerce prevents war’ is relevant in this circumstance
-China is using economics, while the US is using brute force and creating more enemies
-China is a producer, while the US is an expert consumer. We need to get ready to call ourselves #2 in reference to them
-Robinson’s outlook on crypto is that it is an asset class. If you’re going to be in the asset class—which you should—you should be limited in how much you expose yourself to
-Social media presents a full blown display of the ignorance around investing
-People often look at asset classes and think they are only going up; thus, they opt to go all in, which isn’t necessarily a good idea.
-Put a nickel out of every dollar into the best cryptocurrencies every two weeks
-We expect Bitcoin to reach a new high by the end of the year, because Bitcoin plays out according to a cycle—which is quite discernible
-It will probably fizzle out between Q1 and Q2 in 2022
-Gold and silver remain in long term up-trends
-New long term down trends arise for SIL and GBX
-In times of mass inflation, gold and silver are the hedges
-Gold and silver have not lost their inflationary statuses, but this year has produced a bit of an unpredictable outcome
-Follow the trends/money/in-flows, and prioritize these above mere opinion
-There used to be a connection between inflation and interest rates
-Rising prices are most likely going to accelerate over the next 50 years, so it is necessary to take action now to protect your finances. Washington is not changing their thinking, so we must change ours
-The only way to protect yourself is to have a financial plan rooted not in opinion, but in real logic and history
-Don’t go all in on one thing—the government can alter rules at any time, so it is important to diversify your investments

Useful Links:
Financial Survival Network
Follow the Money

Summary:
Today we have the creator and owner of Practical Wealth Advisors, Curtis May, on the podcast to discuss how you can build your wealth without the assistance of Wall Street. As a close friend of the Financial Survival Network, May also promotes the idea that Wall Street’s goals do not align with the financial freedom most people are seeking. Rather than just utilizing various tactics and strategies, May advises than you have a structured plan and an awareness of the principles that will get you to your financial end goal. Tune in to get information on how you can acquire some of this advice, and to hear from an individual that can create a plan to fit your needs.

Highlights:
-We’ve been somewhat anti-Wall Street since the start
-Curtis May is the the creator and owner of Practical Wealth Advisors
-Wall Street doesn’t always have your best interest—how can one build their wealth without the assistance of Wall Street?
-Two schools of thought when it comes to money: the accumulation theory (what they sell you) and corporate finance, which closely resembles what actually plays out
-It is important to be aware of the two different games being played
-Investing is a plan—not a product or procedure
-Most people use tactics and strategies but lack an overall plan, which is typically to become financially free. This, however, is not Wall Street’s goal for you.
-May’s purpose is to teach people how to become financially free, and the steps to take to get there
-In terms of goal setting, May tries to ask people what they want, and why. Most people know what they don’t want, but it is sometimes more difficult to pinpoint what they do want
-May’s ideal structure is ‘wealth in a decade’ which entails financial freedom in ten years or less—he is focused on teaching people the principles
-Find out their goals, but give them principles to work with so that they don’t repeat the same mistakes over and over again
-May specializes in risk-factors and defense (i.e. stable will and insurance) creating a wealth coordination account
-Saving should be safe, accessible, and guaranteed
-As your knowledge goes up, your risk goes down; Wall Street is all about risk tolerance and accumulation
-Risk means probability of loss
-May assures that the client is a good fit for the company, followed by a financial questionnaire, an assessment of what they’re doing now, and if what they are doing will take them to where they want to be
-May goes off of a membership model so that the clients can learn—almost like being part of a club

Useful Links:
Practical Wealth Advisors
The Practical Wealth Show
Financial Survival Network