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Joey: This podcast is intended for educational purposes only. It is not to be construed as an offer solicitation, recommendation, or endorsement of any particular security product or service. More information. Visit asset builder.com. From the Asset Builder headquarters in Dallas, Texas, welcome to the Keep It Simple Podcast, a show that discusses simple techniques and philosophies to help deify investors around the world.
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Janet: Great, great. Ready for summer?
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Joey: Oh, so how do you invest in cryptocurrency? Well, a lot. Um, I know there's, there's Coinbase, right, in which you can open up a, uh, a crypto wallet and you can buy cryptocurrencies on Coinbase. Um, but there's also other formal, I guess, traditional ways, uh, of doing it now, now that they have, uh, they got the proper, um.
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Adam: Yeah. I mean, I think. There's two ways to look at that question. One is like logistically how, yeah, which I would say Google it. Yeah, yeah. Like really Google it. I'm not sure if that's like the question that they were trying to answer in that.
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I have two different, I literally just have some in Bitcoin and some in Ethereum, and I've probably, I, I made an initial investment probably four years ago and haven't touched it since. Yeah. Um, and I'm talking real, real small amounts just to kind of, you know, familiarize myself with it. Yeah. 'cause it's, it's, it's part of what I do.
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Joey: And, and I mean, and also on the, the flip side of rebalancing it, if it is doing poorly, you can buy into it more.
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Janet: don't know, but, and I also don't know enough, way enough about all the technology behind it, that blockchain technology, and there's a lot going on in that world, that space even that's very interesting, right? Mm-hmm. Um, more than just the currency aspect of it. Mm-hmm. So there's a lot happening there, and it's exciting.
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Eventually, you'll recoup your investment because there's an earning stream, right. Associated with Coca-Cola stock or any other stock for that matter. Mm-hmm. At least there should be over time and with, with crypto. The reason he calls it speculation is because the only way you're really gonna make money on or get a return is by selling to somebody else for more than you paid for it.
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It's, it's, the opportunity is so large that the value has to go up and, you know, that kind of makes it not a very good currency. Yeah. Like the whole thing of a currency. The reason the dollar is the currency is 'cause it's so stable. Yeah. You know, I can't use something fundamentally as a currency if it's gonna be moving all over the page.
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Mm-hmm. I personally am just not sure that currencies are the use case. Mm-hmm. Or that the promise Yeah. Is ever gonna really be realized. Um, 'cause I think there are just some real pragmatic. Yeah. Concerned that proponents will like to overlook and just act like they're not important. It's like, well, you know, if someone steals my credit card, I like being able to reverse those transactions, you know?
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Number two, with 137,000, uh, searches a month, how can I start investing? Oh. Oh,
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I would say every paycheck once a month, put whatever you can in and then it won't be long until you'll see the rewards of that and you'll be motivated and continue to do more. So index, index is so easy or so the easiest way to diversify mm-hmm. Buy into index funds and, and let it ride. So.
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And then there's Robinhood, right? Which is really another. Very simple way to, uh, open up a brokerage account. Um, but yeah, and this is strictly talking like brokerage accounts and like Janet said, you hopefully, uh, your job offers a 401k or some type of retirement plan, and that is the, probably the best way and the first way you should invest.
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Mm-hmm. Um, just gag, watch, watch a video. Yeah, exactly. It's like, but educate yourself. Get a basic understanding, you know, stocks versus bonds, um, you know. Geometric return. Just, just how to understand returns, how to understand volatility, how to read an account statement, um, some of the basic things. But then in terms of actually getting started, any of the options these guys mentioned, I would always point someone like, I think the safest recommendation if, if I just said, I'm gonna get to have one conversation with you and I'm never gonna see you again.
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Do a little bit of research and jump in. If you start small with small amounts of money, you can only get so hurt. So. I'd say throw 50 bucks, a hundred bucks in there, start buying some stuff. Yeah. And just, just play with it. Mm-hmm. You know, learn how it works.
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Joey: You know that Bitcoin question? Yeah. Y it, I'm just kidding. Uh, um, so the first question was, how much should I, right? Yes. Yeah. Okay. Um, one, I, I think. Or from a budgetary standpoint, and, and Janet, you might be the, the, the best to check me on this, but one, make sure you have an emergency fund set up first.
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Um, one for the US and one for international. That's a, that's a very simple way to, to do it. Um, but uh, yeah, I mean that, that question's kind of up to the individual person. 'cause we don't know your budget. But I'd say make sure you have that, that emergency fund set up. At least I would argue probably three months is like the base.
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That is really absolutely the best way to learn. Mm-hmm. Put some money in there, you're gonna be watching it. And then if you do diversify enough and choose index funds instead of individual stocks, you'll see that start to grow, um, slowly, but it will grow. Whereas stocks, if you buy an individual stock, the risk is so high.
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Adam: Yeah. So whatever's cheap, uh, would be kind of the easiest answer. But again, if you're just getting started, you wanna lay yourself a nice base, so. Get yourself, you know, start, if you're a US based investor, which if you're listening to this, you most likely are, I would start by getting yourself, you know, a nice s and p 500, or Russell 1000, or Russell 3000 ETF.
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Joey: And I think that's really important is, um, I, I was listening to another podcast that was talking about health and wellness and they're saying, I could, you can point to someone that's really healthy and say like, they're, they're so healthy.
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Mm-hmm. Easy. Mm-hmm. Right. You don't have to fight yourself to be like, well, I really want this new thing, but I could invest like. Take that, take that question out, right. Just do the investing part of it. It's easier to make a good decision one time than Yeah. A hundred times. Mm-hmm. And then to the next question, right?
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And then also you kind of took my line there is, you know, what's good to buy right now is, you know, whatever you've been buying, uh. Think you have to be careful of chasing the mm-hmm. New, shiny, uh, shiny objects or, that's right. Elf, whatever fun
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Adam: I have a trust for my daughter that I get stuff for like. Uh, sometimes I open it, sometimes I don't because I don't care. Mm-hmm. I mean, it's not gonna change what I do tomorrow.
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Inevitably, those newer investors are gonna be a little bit more ready to want to have a conversation if the market goes down or whatever the case may be, which is fine. Like I love those conversations. Yeah, because that's where you get better. Like that's where the teaching happens. Um, but one of the things I'll tell 'em to do is I'll say, okay, for the next month.
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Tommy: think that'll lead well into our next question. With 49,500 searches a month, what is passive investing?
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Mm-hmm. Which is the art of trying to have a forward looking hypothesis about where the market's going to go. And then basing your investments today off of that so that hopefully you can kind of. Skate to where the puck is gonna be, so to speak. Passive investing is, um, well, it's more passive than active.
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Adam: No. You're, you're just trying to grab, look. It's based on the premise that over longer periods of time, and I could define that by, let's say five years or more, the market for as long as we have modern market history, the market tends to go up.
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Joey: Oh, um, I mean, it's the. Uh, ending value minus the beginning value over the beginning value is really what it is. And then take the, um, but if you want like the, the real, like that's like the very simple way to do it. And then you can do it on an annualized basis where you take it to the square root of, let's say you've been invested for four years, it's.
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So, um. That's just the, that's, that's one way to do it. There's, there's so many ways you can, uh, and there's, there's a lot of tools out there that'll help you calculate that. I wouldn't say hand write it out. Um, that's, that's really difficult. Um, but, uh, that's fundamentally one way to do The reason
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Uh, and so you gotta remember that when you set, like let's say you're on Schwab's website, right? And you have brokerage account there, and you set it to reinvest dividends, it'll buy di it'll, it'll use, take those dividends immediately, buy into that fund again and keep growing that, which is what I would argue most times.
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Adam: the cousin to the reason why when people look at like realized versus unrealized gain or unrealized gains as a proxy for returns.
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Mm-hmm. And so they may not, and they may still have your best interest at heart, and they may have exactly what you need. Mm-hmm. But the bottom line is there's a lot of, uh, room there for mm-hmm. For them to do something to benefit themselves over you. So. So just be careful with that. Um, know how much they cost.
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Mm-hmm. So that's. That's good. But I think ultimately the biggest thing is trust. Having someone that you can trust, you trust that the advice they're giving you is what's best for you, and you have established or feel like you can establish a good relationship with that person. So,
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Um, if an advisor's doing technical analysis, understand what that means. Same thing with fundamental, but understand what technical analysis means. Um, and then, uh, make sure they're a fiduciary. Like Jan said, I. Understand how they get paid. Mm-hmm. Like directly ask them how you, how do you make money? Um, because then you kind of understand if are there baked in conflicts of influence here or, or, uh, conflicts of interest.
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And while that's true in some ways, like one of the things that kinda shocked me when I first, you know, got into this industry was the degree to which a lot of the conver, the soft skills that are involved. I mean, it, it's not always. Those decisions are pretty cut and dry. Like, it, it, it's, they're factually based.
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And you need to be able to go to that place with that person in a way that is constructive and helpful. And. A lot of times that can only happen if you do have that kind of fundamental relationship as a, as a human being. Mm-hmm. So I think that's kind of the thing that I would say, you know, assuming you've done all those other things and all those other boxes are checked, you need to find someone that meets all those criteria.
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Every stage nearly, right? Uh, every good event that happens in their life, it's like we're alongside that and then the bad events as well. And I'm like, you know, I don't really do that with my doctor, my gp, right? Mm-hmm. Why do we do that with our advisor? Well, I think it's because your finances are an important part of all areas of your life.
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Adam: most meaningful. I mean, those conversations where the needle gets moved. Yeah. Like that's where you can actually have Yeah.
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He, he had kind of mm-hmm. You know, he, he had a degenerative disorder, so it was, it was a long process. And so, you know, there's that part where, first of all, you just need that person to be able to feel comfortable, you know, being sad in front of you. Mm-hmm. Mm-hmm. And you need to be able to just sit in that space for a few minutes.
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Adam: get you to a place where. You reselect us. I want you to reselect me. Mm-hmm. I know he selected us. I know that you're comfortable. I know that if I never asked you to, you would never leave. But that's not enough for me. Mm-hmm. I need to know that you understand what we're doing.
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And for her future, because she'll be more comfortable. But she's trusting me in that process. Mm-hmm. To engage in a, okay, I'm gonna take on this new role and I'm gonna help, I'm gonna let you guide me through that. So it really is important like that. It doesn't mean you have to, I mean, she's a, you know, I'm a 36-year-old man.
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Really by a mile. I mean, it's, it's, it's hard at times like this, but man, it's also rewarding. Mm-hmm. You know, like that's, you're part of a inner circle of people that are there for those times. Mm-hmm. You know, good and bad. You gotta, you gotta do that with, uh, you gotta take that seriously. Alright. I like this question.
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Or something. Traumatic happened, um, you can meet that expense. Um, and if you lose your job, you could, you have time to not necessarily panic. Um, and you yeah. Can find the job that you wanna, like, want to be in, uh, versus having to take the first thing that comes your way. Um, but yeah, build that up, save that first, and then start to Yeah.
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Janet: Yeah.
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It's gonna involve long-term planning, it's gonna involve inflation rates, it's gonna involve a lot of stuff. Mm-hmm. Now I'm really describing financial planning to you, but ultimately what you need to do is try to forecast out your spending and then you need to discount that back to today's value.
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Tommy: if that sounds way too general. It is.
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Tommy: pretty good. I didn't look at all the answers. I was the experts, but yeah. Awesome. I'm assuming pretty well. Okay.
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Joey: surgery, so his face has changed. So go kidding, kidding, kidding. Not yet. At least. That's hilarious. All y'all. Well, thank you guys for tuning in. Yeah, let's talk. Good to see you guys. Bye. Alright, bye bye. If you have any questions for Adam, Janet, or Joey concerning this topic or anything else, send us an email at podcast@assetbuilder.com or visit us at our home on the web asset builder.com where you can set up a time to meet with an advisor.
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Joey: This podcast is intended for educational purposes only. It is not to be construed as an offer solicitation, recommendation, or endorsement of any particular security product or service. More information. Visit asset builder.com. From the Asset Builder headquarters in Dallas, Texas, welcome to the Keep It Simple Podcast, a show that discusses simple techniques and philosophies to help deify investors around the world.
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Janet: Great, great. Ready for summer?
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Joey: Oh, so how do you invest in cryptocurrency? Well, a lot. Um, I know there's, there's Coinbase, right, in which you can open up a, uh, a crypto wallet and you can buy cryptocurrencies on Coinbase. Um, but there's also other formal, I guess, traditional ways, uh, of doing it now, now that they have, uh, they got the proper, um.
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Adam: Yeah. I mean, I think. There's two ways to look at that question. One is like logistically how, yeah, which I would say Google it. Yeah, yeah. Like really Google it. I'm not sure if that's like the question that they were trying to answer in that.
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I have two different, I literally just have some in Bitcoin and some in Ethereum, and I've probably, I, I made an initial investment probably four years ago and haven't touched it since. Yeah. Um, and I'm talking real, real small amounts just to kind of, you know, familiarize myself with it. Yeah. 'cause it's, it's, it's part of what I do.
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Joey: And, and I mean, and also on the, the flip side of rebalancing it, if it is doing poorly, you can buy into it more.
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Janet: don't know, but, and I also don't know enough, way enough about all the technology behind it, that blockchain technology, and there's a lot going on in that world, that space even that's very interesting, right? Mm-hmm. Um, more than just the currency aspect of it. Mm-hmm. So there's a lot happening there, and it's exciting.
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Eventually, you'll recoup your investment because there's an earning stream, right. Associated with Coca-Cola stock or any other stock for that matter. Mm-hmm. At least there should be over time and with, with crypto. The reason he calls it speculation is because the only way you're really gonna make money on or get a return is by selling to somebody else for more than you paid for it.
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It's, it's, the opportunity is so large that the value has to go up and, you know, that kind of makes it not a very good currency. Yeah. Like the whole thing of a currency. The reason the dollar is the currency is 'cause it's so stable. Yeah. You know, I can't use something fundamentally as a currency if it's gonna be moving all over the page.
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Mm-hmm. I personally am just not sure that currencies are the use case. Mm-hmm. Or that the promise Yeah. Is ever gonna really be realized. Um, 'cause I think there are just some real pragmatic. Yeah. Concerned that proponents will like to overlook and just act like they're not important. It's like, well, you know, if someone steals my credit card, I like being able to reverse those transactions, you know?
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Number two, with 137,000, uh, searches a month, how can I start investing? Oh. Oh,
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I would say every paycheck once a month, put whatever you can in and then it won't be long until you'll see the rewards of that and you'll be motivated and continue to do more. So index, index is so easy or so the easiest way to diversify mm-hmm. Buy into index funds and, and let it ride. So.
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And then there's Robinhood, right? Which is really another. Very simple way to, uh, open up a brokerage account. Um, but yeah, and this is strictly talking like brokerage accounts and like Janet said, you hopefully, uh, your job offers a 401k or some type of retirement plan, and that is the, probably the best way and the first way you should invest.
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Mm-hmm. Um, just gag, watch, watch a video. Yeah, exactly. It's like, but educate yourself. Get a basic understanding, you know, stocks versus bonds, um, you know. Geometric return. Just, just how to understand returns, how to understand volatility, how to read an account statement, um, some of the basic things. But then in terms of actually getting started, any of the options these guys mentioned, I would always point someone like, I think the safest recommendation if, if I just said, I'm gonna get to have one conversation with you and I'm never gonna see you again.
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Do a little bit of research and jump in. If you start small with small amounts of money, you can only get so hurt. So. I'd say throw 50 bucks, a hundred bucks in there, start buying some stuff. Yeah. And just, just play with it. Mm-hmm. You know, learn how it works.
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Joey: You know that Bitcoin question? Yeah. Y it, I'm just kidding. Uh, um, so the first question was, how much should I, right? Yes. Yeah. Okay. Um, one, I, I think. Or from a budgetary standpoint, and, and Janet, you might be the, the, the best to check me on this, but one, make sure you have an emergency fund set up first.
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Um, one for the US and one for international. That's a, that's a very simple way to, to do it. Um, but uh, yeah, I mean that, that question's kind of up to the individual person. 'cause we don't know your budget. But I'd say make sure you have that, that emergency fund set up. At least I would argue probably three months is like the base.
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That is really absolutely the best way to learn. Mm-hmm. Put some money in there, you're gonna be watching it. And then if you do diversify enough and choose index funds instead of individual stocks, you'll see that start to grow, um, slowly, but it will grow. Whereas stocks, if you buy an individual stock, the risk is so high.
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Adam: Yeah. So whatever's cheap, uh, would be kind of the easiest answer. But again, if you're just getting started, you wanna lay yourself a nice base, so. Get yourself, you know, start, if you're a US based investor, which if you're listening to this, you most likely are, I would start by getting yourself, you know, a nice s and p 500, or Russell 1000, or Russell 3000 ETF.
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Joey: And I think that's really important is, um, I, I was listening to another podcast that was talking about health and wellness and they're saying, I could, you can point to someone that's really healthy and say like, they're, they're so healthy.
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Mm-hmm. Easy. Mm-hmm. Right. You don't have to fight yourself to be like, well, I really want this new thing, but I could invest like. Take that, take that question out, right. Just do the investing part of it. It's easier to make a good decision one time than Yeah. A hundred times. Mm-hmm. And then to the next question, right?
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And then also you kind of took my line there is, you know, what's good to buy right now is, you know, whatever you've been buying, uh. Think you have to be careful of chasing the mm-hmm. New, shiny, uh, shiny objects or, that's right. Elf, whatever fun
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Adam: I have a trust for my daughter that I get stuff for like. Uh, sometimes I open it, sometimes I don't because I don't care. Mm-hmm. I mean, it's not gonna change what I do tomorrow.
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Inevitably, those newer investors are gonna be a little bit more ready to want to have a conversation if the market goes down or whatever the case may be, which is fine. Like I love those conversations. Yeah, because that's where you get better. Like that's where the teaching happens. Um, but one of the things I'll tell 'em to do is I'll say, okay, for the next month.
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Tommy: think that'll lead well into our next question. With 49,500 searches a month, what is passive investing?
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Mm-hmm. Which is the art of trying to have a forward looking hypothesis about where the market's going to go. And then basing your investments today off of that so that hopefully you can kind of. Skate to where the puck is gonna be, so to speak. Passive investing is, um, well, it's more passive than active.
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Adam: No. You're, you're just trying to grab, look. It's based on the premise that over longer periods of time, and I could define that by, let's say five years or more, the market for as long as we have modern market history, the market tends to go up.
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Joey: Oh, um, I mean, it's the. Uh, ending value minus the beginning value over the beginning value is really what it is. And then take the, um, but if you want like the, the real, like that's like the very simple way to do it. And then you can do it on an annualized basis where you take it to the square root of, let's say you've been invested for four years, it's.
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So, um. That's just the, that's, that's one way to do it. There's, there's so many ways you can, uh, and there's, there's a lot of tools out there that'll help you calculate that. I wouldn't say hand write it out. Um, that's, that's really difficult. Um, but, uh, that's fundamentally one way to do The reason
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Uh, and so you gotta remember that when you set, like let's say you're on Schwab's website, right? And you have brokerage account there, and you set it to reinvest dividends, it'll buy di it'll, it'll use, take those dividends immediately, buy into that fund again and keep growing that, which is what I would argue most times.
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Adam: the cousin to the reason why when people look at like realized versus unrealized gain or unrealized gains as a proxy for returns.
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Mm-hmm. And so they may not, and they may still have your best interest at heart, and they may have exactly what you need. Mm-hmm. But the bottom line is there's a lot of, uh, room there for mm-hmm. For them to do something to benefit themselves over you. So. So just be careful with that. Um, know how much they cost.
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Mm-hmm. So that's. That's good. But I think ultimately the biggest thing is trust. Having someone that you can trust, you trust that the advice they're giving you is what's best for you, and you have established or feel like you can establish a good relationship with that person. So,
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Um, if an advisor's doing technical analysis, understand what that means. Same thing with fundamental, but understand what technical analysis means. Um, and then, uh, make sure they're a fiduciary. Like Jan said, I. Understand how they get paid. Mm-hmm. Like directly ask them how you, how do you make money? Um, because then you kind of understand if are there baked in conflicts of influence here or, or, uh, conflicts of interest.
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And while that's true in some ways, like one of the things that kinda shocked me when I first, you know, got into this industry was the degree to which a lot of the conver, the soft skills that are involved. I mean, it, it's not always. Those decisions are pretty cut and dry. Like, it, it, it's, they're factually based.
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And you need to be able to go to that place with that person in a way that is constructive and helpful. And. A lot of times that can only happen if you do have that kind of fundamental relationship as a, as a human being. Mm-hmm. So I think that's kind of the thing that I would say, you know, assuming you've done all those other things and all those other boxes are checked, you need to find someone that meets all those criteria.
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Every stage nearly, right? Uh, every good event that happens in their life, it's like we're alongside that and then the bad events as well. And I'm like, you know, I don't really do that with my doctor, my gp, right? Mm-hmm. Why do we do that with our advisor? Well, I think it's because your finances are an important part of all areas of your life.
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Adam: most meaningful. I mean, those conversations where the needle gets moved. Yeah. Like that's where you can actually have Yeah.
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He, he had kind of mm-hmm. You know, he, he had a degenerative disorder, so it was, it was a long process. And so, you know, there's that part where, first of all, you just need that person to be able to feel comfortable, you know, being sad in front of you. Mm-hmm. Mm-hmm. And you need to be able to just sit in that space for a few minutes.
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Adam: get you to a place where. You reselect us. I want you to reselect me. Mm-hmm. I know he selected us. I know that you're comfortable. I know that if I never asked you to, you would never leave. But that's not enough for me. Mm-hmm. I need to know that you understand what we're doing.
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And for her future, because she'll be more comfortable. But she's trusting me in that process. Mm-hmm. To engage in a, okay, I'm gonna take on this new role and I'm gonna help, I'm gonna let you guide me through that. So it really is important like that. It doesn't mean you have to, I mean, she's a, you know, I'm a 36-year-old man.
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Really by a mile. I mean, it's, it's, it's hard at times like this, but man, it's also rewarding. Mm-hmm. You know, like that's, you're part of a inner circle of people that are there for those times. Mm-hmm. You know, good and bad. You gotta, you gotta do that with, uh, you gotta take that seriously. Alright. I like this question.
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Or something. Traumatic happened, um, you can meet that expense. Um, and if you lose your job, you could, you have time to not necessarily panic. Um, and you yeah. Can find the job that you wanna, like, want to be in, uh, versus having to take the first thing that comes your way. Um, but yeah, build that up, save that first, and then start to Yeah.
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Janet: Yeah.
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It's gonna involve long-term planning, it's gonna involve inflation rates, it's gonna involve a lot of stuff. Mm-hmm. Now I'm really describing financial planning to you, but ultimately what you need to do is try to forecast out your spending and then you need to discount that back to today's value.
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Tommy: if that sounds way too general. It is.
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Tommy: pretty good. I didn't look at all the answers. I was the experts, but yeah. Awesome. I'm assuming pretty well. Okay.
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Joey: surgery, so his face has changed. So go kidding, kidding, kidding. Not yet. At least. That's hilarious. All y'all. Well, thank you guys for tuning in. Yeah, let's talk. Good to see you guys. Bye. Alright, bye bye. If you have any questions for Adam, Janet, or Joey concerning this topic or anything else, send us an email at podcast@assetbuilder.com or visit us at our home on the web asset builder.com where you can set up a time to meet with an advisor.
