Mental Reprogramming
SALtoshi Whitepaper #138
Fellow humans,
Society guides us in certain directions, especially during childhood. “Listen to your parents, go to school, save your money, go to college, get a job, finance everything, and retire at 65 years old.” Children blindly following most rules often works in everybody’s favor, but not so much for adults. Some of our lives are in shambles.
Let’s analyze some of our major societal norms:
Save your money. What money, the dollar? Go ahead and save $100,000 in the bank, with the official inflation rate between 2 and 10 percent, and your savings account interest rate less than 2 percent. It’s only a matter of time before your dollar-denominated purchasing power dwindles, and your savings disappears.
What’s the solution? I’m sure multiple game-plans exist, depending on the person, but the general idea is to trade our dollars for better assets. In other words, invest (save) in assets which will likely appreciate in value over long periods of time. Land, gold, bitcoin, stocks, etc.
Go to college. Which college, and what’s the end game? I’m curious to know the actual percentage of people who enter and exit college, then show up at their job with no idea how their industry actually works. Without a specific yet flexible plan, college might not be the best stepping stone for young adults.
What’s the solution? Depends on the person, but the general idea is to visualize the finish line, then use backwards planning to get there. For doctors and attorneys, college is likely the best first step. For those undecided, joining the workforce or military might be best.
Finance everything. Literally everything, even my TV? Most of the time, debt is a trap. Many people want nothing more than to leave their job/career, but choose to stay, because of large debts. Debt isn’t necessary, and neither is a credit score. My grandfather didn’t have debt until he was like 65 years old.
What’s the solution? Debt is tricky, and requires us to think on a case-by-case basis. Debt can either propel us forward, or set us back. We should ask ourselves — will the debt help us or hurt us financially? Generally, debt should be used for the purpose of future profits, not for pleasure.
I can imagine many other examples of things we’ve believed our whole lives, but now those same things look much different. I’m sure you’ve also found yourself changing your mind about something you’ve believed your whole life. Why did we believe these things in the first place? Because somebody told us to believe, without explaining why.
Sometimes the best first step we can take is backwards. Detach ourselves from the entire situation, try to see the big picture, then go back into the weeds, and analyze from an objective point of view. I didn’t understand our financial system until my late 20s, and I’m still learning. Some people never understand, but everybody should.
Mentally reprogramming myself was the only way. Learning Bitcoin gave me the ability to understand the concept of money, which shed some light on the weaknesses and failures of our current monetary system. As a result, becoming a better investor, and more confidence while navigating ongoing financial and economic chaos.
One of the most difficult things most adults can do is learn something new. It’s funny, we get upset with kids and teenagers, because they act like they know everything, meanwhile we’re guilty of the same thing, even more extreme. I’m definitely guilty. However, I’ve been fortunate enough to keep an open mind with certain things.
Unlearn and relearn — sometimes that’s all we need to get started, especially when something isn’t working. Too many people work hard, yet cannot get their financial lives together. Maybe the problem isn’t exclusively the person, but also the system in which we’re operating. Furthermore, our way of thinking about the system.
Until next time,
Salvatore Norge
P.S. — Bitcoin and Stacks make a dangerous team for the rest of the industry.
“Keep falsehood and lies far from me; give me neither poverty nor riches, but give me only my daily bread. Otherwise, I may have too much and disown you and say, ‘Who is the Lord?’ Or I may become poor and steal, and so dishonor the name of my God.” -PROVERBS 30:8-9
I’m not very wise. Never financial advice. Do your research.
