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Hi. My name is Richard Bustos. Welcome to my Blog

Money and Minimalism

Money and Minimalism

Making money isn't Minimalist?!

I am not opposed to making money. You need money in order to provide for yourself and others. But don't go chasing money if you think it will bring you happiness. 

So how do I incorporate minimalism into my financial life?

2 things: 

  1. Living a more meaningful life by only purchasing things that bring me joy and are essential to my well-being. 
  2. Investing my money so I don't have to worry or be dependent of my job in order to survive. 

Investing

I was fortunate to learn about investing my money at a very young age. My dad engraved in me all the teachings of Robert Kiyosaki's book, "Rich Dad, Poor Dad" since I was in elementary school. 

Don’t work for the money let the money work for you.
— Robert Kiyosaki

Since then, I found new ways to let my money work for me. So far it has done pretty well. The first step is to take action.

What's in my current portfolio

  • Investment property handled by property manager
    • The goal is to get cash-flow without lifting a finger. I find that investing in real-estate is the best way to accomplish that. 

    • I live in a hyper-inflated area where the housing market makes it pretty to difficult to purchase a house but that shouldn't discourage someone who wants to invest in real-estate. Look in other counties or states where it may be cheaper.

  • Stocks / bonds / ETFs
    • When choosing stocks, choose a company that you truly believe in. Don't have someone tell you what to invest in when they claim to be a stock guru. A study was shown that monkeys chose random stocks and beat most financial stock brokers
    • Once you purchase, don't look at the daily stock price change. That will just drive you crazy. Let it soak in until you need the money to take out. Invest for the long-term
  • Gold and Silver
    • When cash and paper assets decline, gold and silver tend to incline. The only downside to this is that physical item takes up more space in a household. 
    • This one is hard to come by. A good site to start is JMBullion
  • Maxing out 401k
    • This is the easiest and should be done with no hesitation. Always max out your 401k.
  • Cryptocurrency
    • Was hesitant to add this but I believe how game-changing this technology is. Like all investments, please read up before investing 

Woah, that seems like a lot of things to have for a minimalist?!

Is it though? All the assets in my portfolio are things that I typically don't have to worry about day-by-day. Just like an acorn tree you plant the seed, leave it alone, then all of a sudden it's a huge ass tree. 

What I've learned from Meditating every single day for 1 whole year

What I've learned from Meditating every single day for 1 whole year

Minimal(ish) setup

Minimal(ish) setup