10 sats \ 1 reply \ @Storyteller 27 Jul 2023 \ on: What ways do you use for fighting inflation? bitcoin
I think the best way for me to cope with inflation is wealth. Gaining wealth. Having an abundant and entrepreneurs mindset.
I don’t worry about inflation. Inflation is just a price calculated by a Central Bureau of Statistics. The number doesn’t reflect my inflation. I don’t want to buy a basket of simple items. I want to buy assets, a great lifestyle, vacations, a healthy lifestyle and experiences. Not simply stuff.
That lifestyle and the experiences I want to buy increases in price like 25-30% a year. Therefore I need to build wealth.
So regarding inflation I try to teach myself into a mindset of:
Buying assets instead of liabilities and luxury comsumer goods.
Educating myself and gaining more financial literacy
Reading books and investing in myself
Building a business to keep stacking dollars at a higher rate than inflation and convert part to bitcoin
Building macro economic simulation models to understand global macro economics and economies of the major countries in the world
Investing in knowledge about the fundamental value and valuation of public traded companies
Finding ways to invest and export to the BRICS
Investing in physical real estate
Investing in some specific stocks
Not buying the porsche 911 but keeping it a dream
Avoiding contact with negative people
Staying away from social media
Not buying stuff turning all unnessesary stuff into fiat and then into sats.
Do you know that inflation affects also wealthy people. Of course, they don't feel it so hard, but they lose millions of fiat currency that is kept in banks. That's nonsense, why not using that money in a better way!? But most of them just don't care... 🤔 🙈
reply