👋 Hey there, welcome to the first installment of the WalletBurst monthly newsletter. Let's dive in!
📖 If you get anything out of this newsletter, I want it to be this: right now, go and download The Almanack of Naval Ravikant. It is a free ebook (in both PDF and kindle formats) that distills all of Naval's wisdom that he has shared over the past decade into a single book. Naval is an entrepreneur and angel investor who is hands down my favorite person on the internet. His philosophies on wealth building, happiness, and life have become foundational to how I approach my own life.
🥅 One of my favorite personal finance writers is Morgan Housel, and I really enjoyed his piece Getting the Goalpost to Stop Moving. It's about how our happiness is really the difference between our expectations and our reality, and in recent decades, social media and rising inequality have inflated our expectations. Despite having higher incomes and more wealth now than ever before, we still yearn for the nostalgia of the 1950's because the gap between you and most people was small, and it wasn't as easy to compare yourself to the top 0.1%.
🏠 If You Sell a House These Days, The Buyer Might Be A Pension Fund. This is a slightly concerning development that could make it increasingly difficult for young families to afford a home purchase as they compete with institutional investors chasing yield.
💰We all know that the Roth IRA is a powerful investment vehicle to build wealth, but can you believe that Peter Thiel leveraged his Roth IRA to amass over $5 Billion (with a B!) in a tax free account?!
👶 For any recent or soon-to-be parents out there, Nat Eliason started an awesome twitter thread brainstorming ways to set up your children for financial success:
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