Don't Take Investment Advice From Elon Musk (Especially About Crypto)

Don't invest money into something you don't understand (and can't afford to lose)

May 14, 2021

I saw a tweet from my friend John Odermatt from Lions of Liberty:

People like @elonmusk and @joerogan are easily corruptible. They work their ass off to a point of unimaginable wealth and influence. But it’s never enough. They always need more, because they have a God sized hole in their hearts.

finance.yahoo.comBitcoin, Dogecoin sink after Elon Musk walks back Tesla’s support for crypto transactionsElon Musk said on Wednesday that Tesla would stop accepting Bitcoin in car purchases.

I retweeted with this:

Remso W. Martinez @HeyRemso

Anyone that bought #doge “cause Elon!” He can afford to lose money, you can’t. 1) have an emergency savings 2) put 15% monthly for retirement 3) scrap credit cards 4) develop active and passive additional cash flow. https://t.co/4cr5LNg9o1

John Odermatt @JohnOdermatt

What steps am I referencing? I’m literally pulling this straight from Dave Ramsey’s Ramsey Solutions, specifically his Seven Baby Steps. No, I’m not an affiliate and I’m not paid to say this. Ramsey’s proven strategy for debt elimination and wealth building worked for me, my fiancee, and millions of other people.

Anyway, just my thoughts.

Photo by Maxim Hopman on Unsplash

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Other News and Commentary I’m Tracking

Forbes: Travel Interest Surging As States Reopen — But Unvaccinated Americans Are More Likely To Be Getting Out, Poll Finds

Forbes: Ethereum’s Co-Founder Vitalik Buterin Donates Over $1 Billion To India Covid Relief Fund And Other Charities

CNN: New York Yankees say 7 Vaccinated Members Test Positive for Covid-19, but 6 are Asymptomatic

Cointelegraph: 3 Reasons why Bitcoin Doesn’t Care About Elon Musk

American Greatness: Life After the Death of Work

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l’m not a financial adviser or certified professional. I only do what I feel is right for me, and as someone that has had a unique career path, passive income through investing has allowed me to build wealth and earn reliable cash flow. While administrations come and go, and policies change by the day, ultimately the biggest impact on my financial health and future are the decisions I make regarding my money.

If the recent defense of corrupt hedge funds, Wall Street bankers, and immoral regulators have shown us anything, it’s that the only people with our best interest at heart when it comes to our money are ourselves.

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