Beautiful Saturday morning sunrise 🌅
Have a great weekend people. Keep your body moving and decompress from the week!
Bitcoin Prophet joined me in my weekend mission. I’ve done these every weekend now. Please help us acquire more $BTC people! Go like my original post as well as his quoted post. 10 likes for my original post with 425+ followers is PATHETIC. I’m spending my own money, don’t send me any! $1 of Bitcoin per like
Should I of included my sons custodial UTMA, Trump Account and 529 into my net worth?
The quick answer is yes for the 529 and no for the UTMA and Trump account.
The 529 - I am the legal owner of these funds. I can change beneficiaries or revoke the funds subject to penalties/tax on earnings.
Trump account - my son is the legal owner of these funds. I am a fiduciary manager. I set up the account for a minor and this transfers to him at age 18.
Custodial UTMA - my son is the legal owner of these funds. The funds are provided by the fiduciary (me) but they are an irrevocable gift and will transfer to him at age 21 (in WI).
So the 529 account should’ve been in my net worth while the other two shouldn’t have. Honestly, it doesn’t matter much right now because of the very small values. But, under the circumstances where a child passes, the funds go to their next of kin which of course is his mother and I. Obviously I’d give up my entire net worth for that not to happen so I don’t even want to discuss that further.
Anyways, hope this helps clear things up!
Why did I include my primary residence in my net worth?
As I responded in some comments, my wife and I put down 20% on a home that came out to $97,400 down. So immediately, I’m 97.4k in the hole if I don’t count my primary residence.
Also, if I negate the fact of our ~140k equity in our home, then I negate the ~$381k we owe the bank. I don’t think they’ll just forgive that loan for me.
I understand it’s not a liquid asset, but it’s definitely an asset and a part of my total financial picture.
Marko gets it..
Right now, $UBER might be one of the best deals in the market.
💵 $10B+ free cash flow, still growing
📉 ~14x free cash flow
🏗️ No AI data centers to fund
Meanwhile, Big Tech is borrowing to build AI:
🏦 ~$220B in bonds this year from Alphabet, Amazon, Meta, Microsoft and Oracle (through August)
📜 Alphabet even sold a 100-year bond
📈 By late July, most of these bonds yielded more than at issuance. Lenders want more to lend.
If that continues, one weak quarter or a bad headline could hit $META and $AMZN hard.
That's when I want cash ready.
Long $UBER $META. NFA
Alex retweeted
NYC crypto investors, I need your help 🚨
Where are you buying your crypto?
I’ve been using Robinhood $HOOD because our options are limited here, but I’m curious what everyone else is using.
Drop your platform below 👀
Replying to @Wealthonomic
Brother are you still buying crypto on Robinhood? The spreads and fees are much less on Strike & River for bitcoin.
Is there anything you guys have strong convictions on when building a strong life-long financial situation within your families? Like what should I do for my kids and wife to put us in the best position moving forward?
Please comment below.
You guys down today? “Fund my Tesla” portfolio is up 2%! Is there a lot of crypto related holdings in there? Uhhh yea
Alex retweeted
I can get onboard with this, like & repost then buy some sunday night
LFG!
Another weekend and you know what that means. I will be buying $1 of Bitcoin for every like this post gets between now and Sunday night. I will make the buy Monday morning and post confirmation.
In 2 weekends I’ve only gotten 3 and 7 likes..let’s do a little better here people! Hit me with em!
Trying to decide how many more $UBER shares I can afford to buy. It’s getting ridiculous..
Alex retweeted
What a morning so far!!! You Xer's really showed up and another big Thank you to @SFCWrench @TrickyWoo_art and @Compound_Kid_ . Those 3 went above and beyond to be the top3. To top that off woke up 490 verified followers. Just 10 more to unlock the next challenge. LETS GOO
Another weekend and you know what that means. I will be buying $1 of Bitcoin for every like this post gets between now and Sunday night. I will make the buy Monday morning and post confirmation.
In 2 weekends I’ve only gotten 3 and 7 likes..let’s do a little better here people! Hit me with em!
















