Thank you for this insightful posts along with links to past and informing us about the future posts. I am really interested in various ways to reducing taxes while also learning Python (I will try the link for sure) and also on growing multiple streams of income and Substack.
I will write a lot of articles about reducing taxes, but I'm not exactly an expert on that. I will still cover it in general terms and explain how people can do it, because I know both sides of the coin β being a US and non-US citizen.
And I will write a deep dive on learning Python as I've been using it for 15 years.
After I cover all the Stock Market stuff and taxes, I will move onto covering building successful companies fast and exiting, and a successful financial Substack.
Appreciate your insightful perspectives on accumulating wealth. I would be thrilled if you could delve deeper into the next stepsβspecifically, how to maintain and protect that wealth. It would be incredibly beneficial to hear more about legally minimizing taxes through the avenues you mentioned.
Once you have the wealth, depending how vast, you just do diversification of assets. So you don't put everything into VOO, for example. A lot of this is explained in the 50 personas article.
Thanks, Riccardo! Bulkowskiβs book is a great choice. You might also check out Technical Analysis of the Financial Markets by John J. Murphyβitβs a classic with a lot of actionable insights. Looking forward to sharing more on TA patterns soon!
Very nice. I also agree on focusing on earning more rather than only spending less. Too many gurus around talking about financial freedom by reducing your spent to a level where, in my opinion, life is miserable :)
Exactly. Lots of them are advocating for moving to Thailand to live in some condo with no AC on $600/month while working remotely to "FIRE" in 20 years. Kill me.
It's uncanny how much we agree on, and I hope to be on a similar path to yours.
Thank you for sharing, Jack!
I will note, however, that I do differ from you in regards to crypto. I definitely agree with not getting caught in the hype, and only investing in what you understand. However, I think crypto is too much of a revolutionary technology to be thrown under the bus like that π
I'm saying that the hundreds hours that I would've put to "learn" the markets and that technology have been spent 10x better on other things. In hindsight and in comparison to my peers who went this way.
But also: it's revolutionary. VR and AR are also revolutionary technologies. But the old school stuff: HFT, automation, creating products fast and selling my companies within 2 years, etc. can make me way more money than crypto. Same with AI.
I want practical uses that make me significant money RIGHT NOW.
We also have to remember not to commit survivorship bias and not look at people who bought BTC for $10 or YOLO'ed on some meme token and made $10M.
Sure, that's one way of looking at it. Another would be that you might have found a market gap, created a startup company and gotten acquired by, say, Celcius in the 2021 hype for 100M USD$.
I guess my point is that everything depends on perspectice, what interests esch individual, where they see themselves in the future, and what they do to execute their plans in the present.
That's a good question, and I doubt we can reach an accurate answer, though we can deduce it's highly unlikely. That being said, I think you would agree with me that the probability of success would also greatly depend on the person we're talking about.
This is why I believe each person needs to evaluate their strengths and weaknesses, what they enjoy and what they do not, what they wish to purse and what they wish to abandon. From there, one can start building a clear strategy with a path forward to achieve great things. Just like you've done with this Substack, as an example.
By the way, the 100M USD$ acquisition anecdote comes from a personal acquaintance of mine, and it was sold higher than that amount while the company was barely 3 years young ;)
Thank you for this insightful posts along with links to past and informing us about the future posts. I am really interested in various ways to reducing taxes while also learning Python (I will try the link for sure) and also on growing multiple streams of income and Substack.
π
I will write a lot of articles about reducing taxes, but I'm not exactly an expert on that. I will still cover it in general terms and explain how people can do it, because I know both sides of the coin β being a US and non-US citizen.
And I will write a deep dive on learning Python as I've been using it for 15 years.
After I cover all the Stock Market stuff and taxes, I will move onto covering building successful companies fast and exiting, and a successful financial Substack.
all the best,
Jack
Appreciate your insightful perspectives on accumulating wealth. I would be thrilled if you could delve deeper into the next stepsβspecifically, how to maintain and protect that wealth. It would be incredibly beneficial to hear more about legally minimizing taxes through the avenues you mentioned.
thank you for the comment, PK.
Once you have the wealth, depending how vast, you just do diversification of assets. So you don't put everything into VOO, for example. A lot of this is explained in the 50 personas article.
all the best,
Jack
Very very very useful Jack, thank you for that.
I especially like the point 5, applied math, being an engineer.
I am looking forward to hear/read the TA patterns, Encyclopedia of chart patterns (Wiley, Thomas Bulkowski) is good starting point?
Thank you
Riccardo
Thanks, Riccardo! Bulkowskiβs book is a great choice. You might also check out Technical Analysis of the Financial Markets by John J. Murphyβitβs a classic with a lot of actionable insights. Looking forward to sharing more on TA patterns soon!
all the best,
Jack
Great Jack!! Thank you π
anytime!
Very nice. I also agree on focusing on earning more rather than only spending less. Too many gurus around talking about financial freedom by reducing your spent to a level where, in my opinion, life is miserable :)
Exactly. Lots of them are advocating for moving to Thailand to live in some condo with no AC on $600/month while working remotely to "FIRE" in 20 years. Kill me.
all the best,
Jack
It's uncanny how much we agree on, and I hope to be on a similar path to yours.
Thank you for sharing, Jack!
I will note, however, that I do differ from you in regards to crypto. I definitely agree with not getting caught in the hype, and only investing in what you understand. However, I think crypto is too much of a revolutionary technology to be thrown under the bus like that π
I'm not saying Cryptocurrencies are useless.
I'm saying that the hundreds hours that I would've put to "learn" the markets and that technology have been spent 10x better on other things. In hindsight and in comparison to my peers who went this way.
But also: it's revolutionary. VR and AR are also revolutionary technologies. But the old school stuff: HFT, automation, creating products fast and selling my companies within 2 years, etc. can make me way more money than crypto. Same with AI.
I want practical uses that make me significant money RIGHT NOW.
We also have to remember not to commit survivorship bias and not look at people who bought BTC for $10 or YOLO'ed on some meme token and made $10M.
thanks a lot of the comment,
Jack
Sure, that's one way of looking at it. Another would be that you might have found a market gap, created a startup company and gotten acquired by, say, Celcius in the 2021 hype for 100M USD$.
I guess my point is that everything depends on perspectice, what interests esch individual, where they see themselves in the future, and what they do to execute their plans in the present.
I would wonder, what is the chance of something like the $100M acquisition happening?
That's a good question, and I doubt we can reach an accurate answer, though we can deduce it's highly unlikely. That being said, I think you would agree with me that the probability of success would also greatly depend on the person we're talking about.
This is why I believe each person needs to evaluate their strengths and weaknesses, what they enjoy and what they do not, what they wish to purse and what they wish to abandon. From there, one can start building a clear strategy with a path forward to achieve great things. Just like you've done with this Substack, as an example.
By the way, the 100M USD$ acquisition anecdote comes from a personal acquaintance of mine, and it was sold higher than that amount while the company was barely 3 years young ;)