Are Millennials Really Falling Behind in Building Wealth? Part 2: The Narratives that are Redefining Wealth for a New Generation'

enJune 23, 2021

Blue Collar Money: Theories of Middle Class Investing

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What was the main topic of the podcast episode?

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About this Episode

Please join us for the first, BLUE COLLAR MONEY MASTERMIND: INVESTING FOR KINGDOM IMPACT starting Wednesday July 21st, 2021 at 12n. We will be meeting for 5 sessions thru August 18 and will be discussing the possibilities of getting financially unstuck, becoming a producer of value and reinvesting into the Kingdom of God.

The cost of the course is $199 for the Beta of this Mastermind ($497 for future Masterminds) and you can sign up by emailing Mike Hatch at mikehatch@thebluecollarmoney.com with "mastermind" in the subject line.

The following are the Narratives we use to solve for defining an individual or family plan for investment...

The 5 Macro Narratives:

Global Economics

U.S. Finance

Politics

Media/ Technology

Civil Rights

There is a trail of information that can be trusted but it lies in the relationship between the above arenas. If you can familiarize yourself with how these affect US Finance, the following truths can help you understand the game being played and distill your plan:

The 7 Truths of U.S. Finance:

There will always be a marketplace (for the buyer, seller and speculator).
There will always be an arbitrage
There will always be speculators and market makers that will show you where the arbitrage exists. Their presence will also affect volatility and price action.
Some people will always cheat. Not all, but some.
Small timeframes take the blame /credit for moves in the market.
People are people. Human nature hasn't changed in 800 years of recorded financial history.
The Herd consumes...productivity exists outside of the herd.

Final Points:

You cant play the game and beat the game by making moral judgements against the game or the people. Don't dismiss the information because of its origin...but instead, become a learner.
Hate debt.... every kind and all kinds of it. Once you have a healthy hatred of it, you can then decide which debt you will keep to move you forward.
Understand the $/ Currency relationship
Self Determination is a moral endeavor - God has set you free... now go live free and free others to do the same. Freeing people, adding margin and value to someones life is a Holy endeavor.

Resources / Mentions:

https://www.bloomberg.com/features/2021-millennials-are-running-out-of-time/

The Fourth Turning - Strauss/ Howe

Proverbs 3:5,6

U.S. Debt Collapse: $20,000 Gold - Mike Maloney

IMN Banking Conferences

Contact:

PW Gopal - pwgopal@pwgopal.com, pw.gopal@thebluecollarmoney.com

Mike Hatch - mikehatch@thebluecollarmoney.com

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What was the main topic of the podcast episode?

Summarise the key points discussed in the episode?

Were there any notable quotes or insights from the speakers?

Which popular books were mentioned in this episode?

Were there any points particularly controversial or thought-provoking discussed in the episode?

Were any current events or trending topics addressed in the episode?