If you wanna know the key points from the book, the following ideas are for you

The Summary Of The Book

The fear is the main cause of working for money. Rich people make money work for them. Job is a short term solution to a long term problem. Emotions should not control your thinking. Money is illusion. Money is not real.

Have money work for you. Don’t work for money.

It’s how much money you keep not how much you make. You need to be a financially literate. Master financial literature. Accounting is very important even though it’s boring. Account analysis is an important skill. Understanding the difference between asset and liability is crucial. Do know the difference! Keep it super simple. Buy an asset not a liability. You have to understand the numbers. Rich acquire assets. Asset is what puts money to your pocket. In financial reporting the story is important. Cash flow tells the story how the money is spending. (Continued in next idea..)

Learn financial literacy

One thing is missing in our current education is how to keep the money. Most people do what everyone does. Fear is the main reason why people play safe. Intelligent people hire more intelligent people. Keep buying income generating assets. Rich buy assets.

Learn Financial Literacy (Continued)

Aquire assets that you love. Stocks and income generating real assets. Build and keep you asset column. Keep your daily job and make your assets grow.

Mind your own business

Accounting, investing, understanding the markets, the law. You should understand the tax advantages. Corporations ear, spend their expenses and then pay taxes on what is left. It’s one of the biggest tax loopholes that you can take advantage of. Owning your corporation is also a protection from the legal part. Think about personal corporations.

The history of taxes

Be bold, take risks. Financial intelligence consists of these 4 skills: accounting, Investing, understanding markets, the law of awareness of accounting. Invest in your financial intelligence. Have fun! We learn by making mistakes. Main reason most people are not rich is because they are terrified of losing. People who avoid failure also avoid success. Learn to manage risk instead of avoiding it.

The rich invent the money

Most people need to learn one more skill to get rich. When it comes to money the only single skill that people know is working hard. You want to know a little about a lot. The main management skills are management of cash flow (assets and liabilities), management of systems (basic economic theory, political landscape, etc) and management of people. Sales and marketing are one of the most important specialized skills. Communication skills such as Writing, speaking and negotiating are crucial for life of success.

Work to learn. Don’t work for money

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

moneyandinvestments

Money & Investments

education

Learning & Education

business

Business

books

Books

Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing.

Robert T. Kiyosaki

Rich Dad, Poor Dad

An economic indicator is simply any economic statistic, such as the unemployment rate, GDP, or the inflation rate, which indicate how well the economy is doing and how well the economy is going to do in the future.Investors use all the information at their disposal to make decisions. If a set of economic indicators suggest that the economy is going to do better or worse in the future than they had previously expected, they may decide to change their investing strategy.

Economic Indicators

<ul><li>Procyclical: This indicator is one that moves in the same direction as the economy. The GDP is an example.</li><li>Countercyclical: This indicator is one that moves in the opposite direction as the economy. The unemployment rate gets larger as the economy gets worse so it is a countercyclical economic indicator.</li><li>Acyclical: This indicator is one that has no relation to the health of the economy and is generally of little use. The number of home runs the Montreal Expos hit in a year generally has no relationship to the health of the economy, so we could say it is an acyclic economic indicator.</li></ul>

Economic Indicators: Relation to the Business Cycle / Economy

<ul><li>Leading economic indicators change before the economy changes. Stock market returns are a leading indicator, as the stock market usually begins to decline before the economy declines and they improve before the economy begins to pull out of a recession.</li><li>A lagged economic indicator is one that does not change direction until a few quarters after the economy does. The unemployment rate is a lagged economic indicator.</li><li>A coincident economic indicator is one that simply moves at the same time the economy does. The Gross Domestic Product is a coincident indicator.</li></ul>

Three Timing Types of Economic Indicators

These tend to be the broadest measures of economic performance and include such statistics as:<ul><li>Gross Domestic Product (GDP) [published quarterly]</li><li>Real GDP [quarterly]</li><li>Implicit Price Deflator for GDP [quarterly]</li><li>Business Output [quarterly]</li><li>National Income [quarterly]</li><li>Consumption Expenditure [quarterly]</li><li>Corporate Profits[quarterly]</li><li>Real Gross Private Domestic Investment [quarterly].</li></ul>

Total Output, Income, and Spending

These statistics cover how strong the labor market is and they include the following:<ul><li>The Unemployment Rate [monthly]</li><li>Level of Civilian Employment[monthly]</li><li>Average Weekly Hours, Hourly Earnings, and Weekly Earnings[monthly]</li><li>Labor Productivity [quarterly].</li></ul>

Employment, Unemployment, and Wages

These statistics cover how much businesses are producing and the level of new construction in the economy:<ul><li>Industrial Production and Capacity Utilization [monthly]</li><li>New Construction [monthly]</li><li>New Private Housing and Vacancy Rates [monthly]</li><li>Business Sales and Inventories [monthly]</li><li>Manufacturers' Shipments, Inventories, and Orders [monthly].</li></ul>

Production and Business Activity

This category includes both the prices consumers pay as well as the prices businesses pay for raw materials and include:<ul><li>Producer Prices [monthly]</li><li>Consumer Prices [monthly]</li><li>Prices Received And Paid By Farmers [monthly]</li></ul>These measures are all measures of changes in the price level and thus measure inflation. Inflation is procyclical and a coincident economic indicator.

Prices

These statistics measure the amount of money in the economy as well as interest rates and include:<ul><li>Money Stock (M1, M2, and M3) [monthly]</li><li>Bank Credit at All Commercial Banks [monthly]</li><li>Consumer Credit [monthly]</li><li>Interest Rates and Bond Yields [weekly and monthly]</li><li>Stock Prices and Yields [weekly and monthly].</li></ul>

Money, Credit, and Security Markets

These are measures of government spending and government deficits and debts:<ul><li>Federal Receipts (Revenue)[yearly]</li><li>Federal Outlays (Expenses) [yearly]</li><li>Federal Debt [yearly].</li></ul>Governments generally try to stimulate the economy during recessions and to do so they increase spending without raising taxes. This causes both government spending and government debt to rise during a recession, so they are countercyclical economic indicators. They tend to be coincident to the business cycle.

Federal Finance

Learn about economic indicators including prices, federal finance, and international trade, and why are they important.

Discover the world of business and economics.

economics

Economics

scienceandnature

Science & Nature

Economic Indicators: A Beginner's Guide

Peer-to-peer payment networks are having an extended moment. About <a href="https://www.statista.com/statistics/946109/digital-banking-users-usa/">65 percent</a> of Americans are expected to bank online in 2022. Cash and credit card use has been in decline for years and the pandemic accelerated people’s move to contactless payments. There are also 63 million Americans whose only financial options are money transfer apps. People use Cash App as their primary bank account, and in some cases as their only bank account.

Peer-To-Peer Money Transfer

Cash App didn’t invent #CashAppFriday. Cash App’s genius was to get on the trend. #CashAppFridays mark giveaways to people who tweet at it. Cash App figured out that: a) people use financial apps their friends are using, so creating social engagement is critical for growth; and b) the fastest way to social influence is to piggyback on the already existing social influence and amplify it through a go-to-market strategy that emphasizes social activity among Cash App’s initial following.

Cash App Lessons: Community

Cash App collaborated with everyone from Travis Scott to Red Bull to Cardi B to Meghan Tee Stallion and Miley Cyrus. These collaborations include cash and stock giveaways, tutorials and Cash App financial wisdom. Through linking itself with celebrities, Cash App embedded itself not only in communities of its users and fans, but also in the wider culture. Collaborations extend to charitable causes, like matching donations and emerging artist promotions.

Cash App Lessons: Collaboration

Cash App curates its brand narrative around the hustle ethos, hip hop aesthetics, and voices of those who have often been traditionally excluded from the establishment but who are in charge of cultural innovation. Cash App started with empathy for a particular group of people and their particular interests, tastes and values. The outcome is that Cash App’s users feel like there’s nothing out there that’s like it - and that they are creating culture together with the app and all others who use it. The commercial activity becomes cultural activity.

Cash App Lessons: Curation

Over time, Cash App created recurring content streams, delivered in Gen Z-meets-hip hop aesthetics and revolving around democratization of investing and improving financial literacy. “Cash App Wisdom” is a series of explainers focused on everything from the basics of stock investing to account protection. Various money lessons are regularly delivered by Meghan Thee Stallion. A Red Bull Racing content partnership brings one up to speed on everything crypto. Content creates a massive following and differentiates Cash App from other financial applications

Cash App Lessons: Content

Why turning commerce into culture is the best go-to-market strategy

Lessons from Cash App 

According to the National Center of Education Statistics, the number of students over 25 who pursue higher education will increase. Older students have many options, such as online courses, professional certifications and doctoral programs. While it can be difficult to fit school into your lifestyle, navigating student life and adult responsibilities are possible.

Adult higher education

There are two signs that you are ready to go back to school. <ol><li>You know what you want. You picked the subject you want to study and the goals you want to accomplish through your education.</li><li>You're reasonably sure you can pay for it. Ideally, your education should open career doors that will enable you to pay back any student debt.</li></ol>

Consider the ideal time

<ul><li>There's no age limit for federal aid. So you can fill out the FAFSA again, but now as an adult. FAFSA can also help you narrow down federal aid prospects.</li></ul> <ul><li>Contact the financial aid office of the school you would like to attend. Ask if you can enter your upcoming year's projected income of the FAFSA, which is helpful if you plan to scale back on work hours.</li></ul> <ul><li>Ask about grants and scholarships. Search independently for scholarships, such as on Fastweb and scholarships.com.</li></ul> <ul><li>Paying for school get you tax breaks. A common student tax credit is the Lifetime Learning Credit.</li><li>Consider a loan.</li></ul>

Paying for school

Consider your logistical requirements. Is there a program near where you live? Do you have transport available? Should the program offer evening, weekend, or online classes? Start your research: Look up program rankings, find the program's graduation rate, investigate how many graduates are employed and read student reviews.

Choosing a program

<ul><li>Free massive open online courses (MOOCs) are ideal if you want to know more about a subject.</li><li>Certificates are non-degree-granting programs and are helpful when exploring a new area or increasing your current expertise.</li><li>Professional certifications or trade certifications. Certifications can qualify you to perform a specific job.</li><li>Degree programs. These train you for a specific job or give you a broader education in a particular subject. Bachelor's degree programs take four years.</li><li>Advanced degrees. These degrees help with an employment niche. A master's degree can increase your earning potential.</li></ul>

Certificate, certification or degree

Many people work full-time while studying. Their employer may also help pay the tuition. You can study full-time or part-time. Full-time will get you quicker to completion, but part-time will allow some breathing room to attend to other responsibilities easier.

Work and study

Going back to school as an adult can be the key to the career you always wanted. Or it can increase the earning potential and enjoyment of the career you already have.

Should You Go Back To School As An Adult? - Money Under 30

When you're new to investing, it is best to start with index funds or mutual funds. This will keep your portfolio diversified and reduce risk. But if you want to move on to invest in individual stocks, a good first step is reading and understanding stock charts.

Investing in individual stocks

A stock chart is a graph that shows the stock price over a specific period. Advanced stock charts will show additional data. The best website for basic stock information is Google Finance or Yahoo! Finance. The series of letters after the company's name is the ticker symbol and identifies the company on the stock exchange. For example, AAPL is Apple's ticker symbol. Then click the button to expand the chart to full screen.

The stock chart

The Robinhood app can make trading easier by analyzing stocks using the quick-to-open charts. Then, filter the chart from one day to five years' worth of performance. Trades cost $0 with Robinhood if you wish to invest independently.

Buy stock on your own with Robinhood

A stock chart shows historic prices. It is useful when you can decipher what it's showing so you can make more accurate predictions. <ol><li>Identify the trend line</li><li>Look for lines of support and resistance</li><li>Know when dividends and stock splits occur</li><li>Understand historic trading volumes.</li></ol>

Learning to read a stock chart

It is essential to understand that stocks will take massive dives and make huge climbs. But it is best not to react to these huge drops or gains. News will come and go, but pay attention to it when news coincides with a drastic change in the trend line. For example, in 2011, Steve Jobs resigned, and Apple noticed that their profit margins were decreasing despite a growing smartphone market. This and other factors caused the stock price to fall. But new CEO Tim Cook turned that around, as noted on the trend line. While most companies will bounce back, not all can.

Identify the trend line

Lines of support and resistance are levels at which the stock stays within over a certain period. <ul><li>A level of support is a price that a stock is unlikely to drop below.</li><li>A level of resistance is one that it's unlikely to climb above.</li></ul> The lines are subjective. Everyone will draw these lines differently, depending on how long they plan to hold the stock. Someone planning to hold stock for a long time won't care as much about the ups and downs, but a short-term investor may draw more lines to analyse trends during a shorter period.

Look for lines of support and resistance

You can see at the bottom of the chart when a company issued a dividend and if there was a stock split. <ul><li>A dividend is when the company decides to give a portion of its earnings back to its shareholders. (Not all do. Some prefer to focus on growth). If you own the stock, you'll get some of the profit.</li><li>A stock split is when more shares of stock are issued to the public. This is done to attract smaller investors or if the price isn't in line with competitors. For example, Apple did a 7:1 stock split, meaning you now have seven for every share you owned before the split.</li></ul>

Know when dividends and stock splits occur

At the bottom of the chart are small, vertical lines. This is a trend of the volumes at which the stock is traded. You should not only focus on volumes when you buy a stock. While there's not always a correlation, sometimes volumes can increase to shift the stock's price quickly. For example:<ul><li>In line A, there was a high volume of trading activity and a drop in the stock price. It could have been news that caused people to panic.</li><li>In line B, there is a slight uptick in trading volume that corresponds to an upward stock price trend. </li></ul>

Understand historic trading volumes

When you are practised at reading a stock chart, you might be looking for more powerful tools, such as: <ul><li>E*trade takes advantage of robust stock charts and trading tools. However, their pricing isn't the best.</li><li>Robinhood. This app gives just enough information to make informed decisions.</li><li>TD Ameritrade. You pay nothing for access to any of TD Ameritrade's trading platforms, streaming news, and expert research.</li><li>Public makes stock trading into a social event. You have access to a community of investors. Public also gives you access to stocks for as little as $5 and offer fractional shares.</li></ul>

Stock trading tools

Stock picking is hard, and understanding stock charts is the first step toward success. Here's our beginner's guide on how to read a stock chart.

Investing 101: How To Read A Stock Chart For Beginners

<ul><li>We spend our whole life thinking about what we can’t do with our money, so it’s hard to imagine your rich life initially</li><li>A rich life is not a number; it’s understanding you and your partner’s values/interests and achieving them without the influence of society</li><li>What is your rich life? Talk about this with your partner</li><li>Money is opaque and unclear to compare across situations</li><li>We always try to compare ourselves to others but it’s more important to take a deep dive into understanding your goals</li><li>Spending/saving habits are not always directly correlated to wealth</li></ul>

Podcast: Key Takeaways

It’s a tragedy to live a smaller life than you have to.

<ul><li>Most people have never thought about this question, individually and as a partnership</li><li>People’s feelings on how they are doing financially are highly uncorrelated with their actual financial status</li><li>Americans love to compare themselves to their neighbours</li><li>Financial plans are more exciting and successful when you shoot for the moon rather than sacrificing your values and interests right away</li><li>The more dialed-in your rich life becomes to you, the more incomprehensible it should become to everyone else</li></ul>

Defining A Rich Life

We spend our whole life thinking about what we can’t do with our money, so it’s hard to imagine your rich life initiallyStep by step process with your partner:<ul><li>On separate pieces of paper, write down your bucket list</li><li>Share them with each other</li><li>Pick a couple and put a dollar value on them</li><li>The numbers can be very different</li><li>Go with the bigger number – it will make the moment that much more worth it!</li></ul>This makes talking about finances more fun to talk about each month while you slowly but surely chip away at the goal

Counselling Exercise With Your Partner

<ul><li>You’re off to a bad start if one person is dragging the other to the meeting</li><li>Don’t blame, always ask questions to understand the context around spending/saving habits</li><li>Spend less time looking at fixed expenses (rent, groceries, gas), spend more but still little time on variable expenses (travel, gifts)</li><li>Spend most of the time examining rich life goals and updating progress, maintain a backlog of more rich life goals as you achieve them</li><li>These meetings can be depressing/challenging, make it a positive experience my going out to dinner or something out of the ordinary</li></ul>

Weekly Financial Meetings

In the next 48 hours, spend $100 on something you love. Can not be on kids, family, or charity. On yourselfChallenge is made for people who have trouble spending, designed to create a habit of spending money on things that are valuable to you

The 100 Dollars Challenge

<ul><li>Everyone is taught how to save money but nobody teaches you how to spend money</li><li>Family history can be very influential on this</li><li>Many people collect money eternally without having any rewarding goals</li><li>Would you rather end up at 60 years old with more money or more experiences and a little less money at 60?</li><li>People create a false financial story and live it</li><li>“I’m not good with money” is a narrative that can easily be changed if committing to a plan</li><li>Treat your financial plan like a business</li></ul>

Saving Could Be Worse Than Spending

Ramit Sethi — How to Play Offense with Money, Plan Bucket Lists, Build a Rich Life with Your Partner, and Take a Powerful $100 Challenge | Brought to you by Wealthfront automated investing, Athletic Greens all-in-one nutritional supplement, and Pique Tea premium tea crystals. More on all three below.Ramit Sethi (@ramit), author of the New York Times bestseller I Will Teach You to Be Rich, has helped tens of millions of people live a rich life with their money, careers, businesses, and psychology. He hosts more than a million readers on his site iwillteachyoutoberich.com, newsletter, and social media. His new podcast, I Will Teach You to Be Rich by Ramit Sethi, reveals real stories about love and money from behind closed doors. Subscribe on Apple Podcasts, Spotify, or wherever you listen to fine podcasts.Please enjoy!This episode is brought to you by Wealthfront! Wealthfront pioneered the automated investing movement, sometimes referred to as ‘robo-advising,’ and they currently oversee $20 billion of assets for their clients. It takes about three minutes to sign up, and then Wealthfront will build you a globally diversified portfolio of ETFs based on your risk appetite and manage it for you at an incredibly low cost. Smart investing should not feel like a rollercoaster ride. Let the professionals do the work for you. Go to Wealthfront.com/Tim and open a Wealthfront account today, and you’ll get your first $5,000 managed for free, for life. Wealthfront will automate your investments for the long term. Get started today at Wealthfront.com/Tim.*This episode is also brought to you by Athletic Greens. I get asked all the time, “If you could only use one supplement, what would it be?” My answer is usually Athletic Greens, my all-in-one nutritional insurance. I recommended it in The 4-Hour Body in 2010 and did not get paid to do so. I do my best with nutrient-dense meals, of course, but AG further covers my bases with vitamins, minerals, and whole-food-sourced micronutrients that support gut health and the immune system. Right now, Athletic Greens is offering you their Vitamin D Liquid Formula free with your first subscription purchase—a vital nutrient for a strong immune system and strong bones. Visit AthleticGreens.com/Tim to claim this special offer today and receive the free Vitamin D Liquid Formula (and five free travel packs) with your first subscription purchase! That’s up to a one-year supply of Vitamin D as added value when you try their delicious and comprehensive all-in-one daily greens product.*This episode is also brought to you by Pique Tea! I first learned about Pique through my friends Dr. Peter Attia and Kevin Rose, and now Pique’s fermented pu’er tea crystals have become my daily go-to. I often kickstart my mornings with their Pu’er Green Tea and Pu’er Black Tea, and I alternate between the two. Their crystals are cold-extracted, using only wild-harvested leaves from 250-year-old tea trees. Plus, they triple toxin screen for heavy metals, pesticides, and toxic mold—contaminants commonly found in tea. I also use the crystals for iced tea, which saves a ton of time and hassle.Pique is offering 15% off of their pu’er teas, exclusively to my listeners. Simply visit PiqueTea.com/Tim, and the discount will be automatically applied. They also offer a 30-day satisfaction guarantee, so your purchase is completely risk free. Just go to PiqueTea.com/Tim to learn more.*If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

loveandrelationships

Love & Relationships

podcasts

Podcasts

Tim Ferriss is a self-experimenter and bestselling author, best known for The 4-Hour Workweek, which has been translated into 40+ languages.  Newsweek calls him "the world's best human guinea pig," and The New York Times calls him "a cross between Jack Welch and a Buddhist monk."  In this show, he deconstructs world-class performers from eclectic areas (investing, chess, pro sports, etc.), digging deep to find the tools, tactics, and tricks that listeners can use.

The Tim Ferriss Show

#524: Ramit Sethi — How to Play Offense with Money, Plan Bucket Lists, Build a Rich Life with Your Partner, and Take a Powerful $100 Challenge

How to Play Offense with Money, Plan Bucket Lists, Build a Rich Life with Your Partner, and Take a Powerful $100 Challenge

NFT stands for non-fungible token. "Non-fungible" means it's unique and irreplaceable. Popular tech website <a href="https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq">The Verge </a>explains it well. Basically, it says, a Bitcoin would be "fungible" because if you traded one coin for another, you'd have the same thing.

What Are They? 

Think about your life at home. You probably use a bank. That bank is basically the middle man between you and whoever you're sending money to.A blockchain cuts out the bank. The blocks form a transparent, digital ledger that everybody can see. <a href="https://builtin.com/blockchain">Built In </a>, an online tech community, compared a blockchain to a Google Doc. Everybody can view it at the same time, and you can tell if it gets edited.

No Middle Man

For instance, let's talk about real estate. Houses aren't digital. They're physical. But, could a real estate transaction happen in NFT form? Experts say...yes.<a href="https://www.millionacres.com/real-estate-investing/articles/can-you-use-an-nft-to-sell-your-property/">Million Acres </a>explains it happened like this: First, an LLC was created for the property. Second, a non-fungible token was set aside. Then, legal paperwork was developed that said whoever bought the non-fungible token, or NFT, had the rights to the LLC. The NFT was then auctioned, giving the winner the rights to the LLC, which ultimately meant the winner owned the property itself.

What Are The Possibilities? 

When I retire will this be how financing property will be done? Part B of retirement? Financing property with my crypto? 

NFT stands for non-fungible token. So, what in the world is an NFT? We break down what an NFT means and what a blockchain is.

crypto

Cryptocurrency

What's an NFT? The concept explained in plain English

A home in Gulfport will be auctioned off Tuesday as an NFT. It’ll be the first piece of U.S. real estate to be auctioned as a “non-fungible token”, said current owner Leslie Alessandra.

NFT Property IR

Alessandra, a local real estate investor and founder of Tampa Bay blockchain company DeFi Unlimited, said she chose to list the home as an NFT to showcase the use of the evolving technology. An NFT is stored on a decentralized ledger known as the blockchain and is typically used for digital assets like music and art. In the case of the Gulfport house, it’s a digitally secure certificate of authenticity, similar to a deed.

Property Being Sold For Cryp

Minting property rights into an NFT would allow owners to sell a home as quickly as a Venmo transaction, she said. It would accomplish that by putting ownership documents under a limited liability corporation. In short: The NFT is an LLC.

Mint Property As NFT

“There probably will be ways to sell the property and then throw in crypto-backed mortgages,” Vasilakis said. “But we’re just not at that moment.” NFTs are relatively new and it’s hard to say how this could work in the future, he said. There could also be challenges with cryptocurrency volatility. It’s not clear if the value of a house tied to an NFT would be affected by the crypto market.

Financing With Crypto Backed Mortgages 

I wonder if this would create a more even lending process. 

A Gulfport house will sell at auction next week to transfer the property rights  “instantaneously” over the blockchain in a first for the region and maybe the nation.

This Tampa Bay home is being sold as an NFT 

The maturation of the cryptocurrency industry as a whole has led to the creation of the initial DEX offering (IDO), one of many creative fundraising approaches. But the first fundraising approach in crypto was the initial coin offering (ICO), which in 2017 generated a lot of ill will. It also turned many early investors into overnight millionaires.An ICO is an unregulated approach to crowdsourcing funds from retail investors. The main challenges with ICOs concerned the lack of control and investor protections. Without any control mechanisms, project teams were not subject to any due diligence.

IDOs as an upgrade of ICOs

An initial DEX offering (IDO) is a fundraising approach that pools investment capital from retail investors. The IDO was created to compensate for the shortcomings of the "traditional" ICO crypto crowdfunding model. Because an IDO works with a DEX, as opposed to a centralized exchange, DEXs can be thought of as decentralized liquidity exchanges.IDOs are the newest model for crypto projects looking to raise funds from investors. DEXs are less scalable. It's not uncommon for ICOs and IEOs to be able to raise more than $1 billion. For DEXs, this is unheard of.

What is an initial DEX offering?

This section covers how users can launch their IDOs in a step-by-step fashion. To launch a successful IDO, users must also learn how to create a cryptocurrency.

How to launch an IDO

Plan the token offering to be released over a DEX by creating a strategy that makes sense. The strategy should include the challenge the project aims to resolve, fund allocation, which blockchain the project will run on, the general marketing strategy and how to spearhead the project post-IDO and maintain that momentum.

Step 1: Devise a business strategy

At the very least, marketing collateral for an IDO launch includes <a href="https://cointelegraph.com/funding-for-beginners/what-is-a-white-paper-a-beginners-guide-on-how-to-write-and-format-one">a website and a white paper </a>. A well-branded website that is visually pleasing can do wonders for investor confidence.A great white paper, in contrast, enhances investors' experience with specificity and facts. Doing so moves the investor closer down the pipeline. The purpose of a white paper is to sell by educating, which is why there is no hard-sell copy in the white paper, itself. Instead, the white paper presents statistical data, diagrams, tables and so on.

Step 2: Create marketing collateral

If the project meets the platform’s requirements (typically consensus and whitelisting), an IDO will be approved.

Step 3: Visit a DEX launchpad

The process for launching a cryptocurrency has become straightforward. Users might be able to discern from CoinTool that it doesn’t take much time at all. The difficulty isn’t in the token generation. Pretty much anyone can figure out how to make a cryptocurrency. The challenge is in convincing investors to put their money behind the project by discerning real-world value and utility. Upon successful completion of the IDO and Token Generation Event (TGE), the DEX lists the token for trading. Listing occurs via an automated market maker (AMM) like Sushiswap or PancakeSwap.

Step 4: Create the cryptocurrency

The DeFi space has experienced rapid proliferation in recent years. However, even popular DEXs like Uniswap and PancakeSwap have struggled to provide liquidity compared to their centralized counterparts like Binance. DEXs also tend to come with a much steeper learning curve. Too steep a learning curve can intimidate potential investors, especially those who are new to crypto.

Reading this article gives me all kind of red flags, beware, it seems to be a hard sell on IDOs argumented by the prospect o earning money instead of technical information and value.

The initial DEX offering (IDO) is the go-to fundraising approach for crypto projects. The IDO is considered a better alternative than ICOs.

Initial DEX offering (IDO): A beginner's guide on launching a cryptocurrency on a decentralized exchange

Perez’ theory describes the path a technological revolution, like the Industrial Revolution, takes and the social, economic and institutional changes that go along with it. The jury is still out on the theory, and there are plenty of reasons to doubt it. But if it successfully predicts what happens over the next ten years it will have in good part proved its power.

The deployment age

Great surges of technological development followed by quieter periods of adaptation.

Innovation comes in waves

<ul><li>some critical factor of production suddenly becoming very cheap,</li><li>some new infrastructure being built,</li><li>a laissez-faire period of wrenching innovation followed by a bubble,</li><li>a post-bubble recession,</li><li>a re-assertion of institutional authority, and then</li><li>a period of consolidation and wide spread of the gains in productivity from using the new technology.</li></ul>

These cycles are characterized by

Each cycle is initiated by a group of technologies interacting to create a “Technological System.”A technological system is"An interconnected set of elements that is coherently organized in a way that achieves something.” A Technological System is a set of technologies that interconnect as a platform to allow other innovations. When this system allows a fundamental and basic innovation, the system can cause a technological revolution.

A constellation of inovations

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Personal Development

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Startups

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Leadership & Management

The Deployment Age

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