323: Douglas Boneparth on Financial Education And Risk

The Pomp Podcast

Anthony Pompliano

Business, Investing

4.8 • 1.9K Ratings

🗓️ 26 June 2020

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Douglas Boneparth is the president and founder of Bone Fide Wealth. He is also the co-author of The Millennial Money Fix, which helps millennials learn the reasons for their financial challenges and provides the mechanics for their solutions. In this conversation, we discuss how access without knowledge is dangerous, why advisors are better than roboadvisors, FOMO culture, Doug's current view on crypto, and his best & worst investment ever. =============================== BlockFi allows you to keep your crypto, put it up as collateral, and receive a USD loan funded directly to your bank account. They do loans ranging from $2,000 to $10,000,000, and they're perfect for helping you reach your financial goals of all sizes. Visit BlockFi.com/Pomp to learn more about putting your crypto to work without having to sell it. https://www.blockfi.com/pomp =============================== Our second sponsor is choice, a new self-directed IRA product that I'm really excited about. If you are listening to this, you are likely part of the 7.1 million bitcoin owners who have retirement accounts with dollars in them, but not bitcoin. I was in that situation too. Now you can actually buy real Bitcoin in your retirement account. I'm talking about owning your private keys and using tax-advantaged dollars to do it too. Absolute game changer. https://www.retirewithchoice.com/pomp =============================== Pomp writes a daily letter to over 50,000 investors about business, technology, and finance. He breaks down complex topics into easy to understand language, while sharing opinions on various aspects of each industry. You can subscribe at https://www.pompletter.com

Transcript

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0:00.0	What's up, everyone? This is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp
0:05.3	podcast. Simply the best podcast out there. Let's kick this thing off. Douglas Bonaparte is the president and
0:12.5	founder of Bonafide Wealth. He is also the co-author of the millennial money fix, which helps
0:18.1	millennials learn the reasons for their financial challenges and provides
0:21.3	the mechanics for their solutions. In this conversation, we discuss how access without knowledge
0:27.0	is dangerous, why advisors are better than robo advisors, FOMO culture, Doug's current view on
0:33.7	crypto, and his best and worst investment ever. I really enjoyed this conversation,
0:38.3	and I hope you do as well. Before we get into the episode, though, I want to quickly talk
0:42.9	about our sponsors. The first is BlockFi. They've got a number of products. You can either
0:48.0	deposit crypto and earn a US dollar loan. You can buy and sell crypto on their crypto exchange,
0:56.2	or you can deposit crypto and digital dollars and earn up to 8.6% APY in their interest-bearing accounts. I'm an investor and also
1:02.6	a super happy user. Go check them out at blockfi.com slash pomp. Again, blockfi.com
1:08.8	slash pomp. BlockFi is where all the wealth management services for crypto exist.
1:15.7	Our second sponsor is Choice.
1:18.5	That's right.
1:19.1	They're a new self-directed IRA product that I'm already really excited about.
1:23.1	If you're listening to this, you are likely part of the 7.1 million Bitcoin owners.
1:26.4	You've got retirement account dollars, but you don't have Bitcoin in your retirement account. I was in that
1:31.4	situation too, but now I've got a choice account. You can actually now buy real Bitcoin in your
1:37.2	retirement account. I'm talking about owning your private keys and using tax advantage
1:41.0	dollars to do it too. Absolute game changer,
1:48.0	a self-directed IRA product that lets you buy Bitcoin,
	...

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