March 18, 2025 • 26 mins
Find "Your Fiscal Physical" the book on Amazon at: rb.gy/3shpfk
If you have suggestions or feedback, please email us at: Podcast@AlchemyWealth.com
And, as always, STAY THE COURSE!
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Welcome to the Fiscal Physical Podcast.
Join us each week as we sitdown with the founder of Alchemy
Wealth Management and author ofyour Fiscal Physical, Ryan
Nelson.
Tune in to gain valuableinsights and practical tips as
we simplify complex financialconcepts into digestible lessons
(00:22):
.
From budgeting to retirementplanning, this podcast is your
go-to resource for masteringfinancial literacy.
Aaron Hoisington (00:33):
Welcome everybody to this week's episode
of the Fiscal Physical Podcast.
My name is Aaron.
I am joined by the author of abook, your Fiscal Physical Seven
Keys to Becoming FinanciallyFit, mr Ryan Nelson, also the
founder of Alchemy WealthManagement.
Ryan, how are you on thisglorious day?
I'm doing really well.
(00:53):
How are you doing today?
I'm doing pretty solid.
I also have to give a littlepeek behind the microphone as
well.
We're currently in your officerecording this and you got a
massive desk in here, sure, sureoffice recording this.
And, uh, you got a massive deskin here.
Sure, like this day, like I, Iwish I could paint the picture
for the listeners about howgrand this thing is.
It looks like the uh, I can'tremember the desk that, uh,
people do at the white house,but this is oh yeah, like
(01:15):
reminds me.
You walk in here like if I wassitting here and you were behind
there, I'd be like, wow, thisguy is in a position of power so
like we've done a few episodesof this podcast 60 plus actually
and like I've been meaning tomention, like this is awesome,
just in general, it's a great,great investment.
However you got it or whatever.
Ryan Nelson (01:34):
Yeah, I actually don't own the desk, it was.
It just came in the office.
The old, the person who was inthis office before me was an
attorney, and so it's like.
So it's like exactly what youwould picture like an old
attorney's desk to be this likebig, grandiose thing.
Not necessarily exactly my type, but hey, I'll use it.
Aaron Hoisington (01:54):
Yeah, I came with the idea.
Cool, this will work.
Ryan Nelson (01:57):
Yeah exactly.
But, awesome.
Aaron Hoisington (01:59):
Well, today we're going to dive into the
topic of something that, if youdon't live under a rock, you've
heard about over the last Xamount of years is
cryptocurrency.
What, yeah, what?
Oh, this is news to me.
Podcast ends, stay the course.
But I think it's a relativelynew topic in the financial world
(02:22):
and I'm hoping, ryan, you canbreak it down a little bit,
maybe about the history of it alittle bit, or how you navigated
as a financial advisor and whatyou kind of see this industry
and how you kind of view it.
And obviously, I like topreface that, hey, we're not
here to give financial advice,sure, but maybe just wet the
whistle on this topic overall,yeah, I was hoping maybe you
(02:45):
would take this episode.
Yeah, it'd be really short.
Ryan Nelson (02:49):
Yeah.
So I would say this is a topicthat I'm very ignorant on.
I'll kind of run through maybesome of my ideas and how it
would apply to a more robustretirement plan.
But yeah, I'd say, overall, Ido find myself, or believe
myself to be pretty ignorantwhen it comes to
cryptocurrencies.
Overall, I do find myself, orbelieve myself to be pretty
ignorant when it comes tocryptocurrencies just in general
and exactly how they work onthe back end.
But maybe, before we dive in,so this is what's interesting,
(03:11):
this is probably the.
I get asked this probably morethan anything else.
I mean I probably get askedabout cryptocurrencies every
single day.
At this point, really, I wouldsay I mean I can't.
I mean, yeah, that's not anexaggeration.
I probably get asked, I meanevery day for the last few weeks
, and so, yeah, I'd be curiousbefore we dive in, like just
(03:32):
what is your initial thought?
Or like what is your idea?
What do you think the allure tocryptocurrency is?
Or like what makes acryptocurrency?
Just what's your maybe opinionor public, what do you believe
the public perceives this to,why they perceive it to be
valuable?
Aaron Hoisington (03:45):
Yeah, it's a great question and, honestly,
I've watched some YouTube videoson it.
I've talked to some of myfriends who are kind of into it
and I still don't understand it.
I don't really under, but I'vehad some people kind of explain
it like oh, it's like a, it'sdecentralized or it's like not
or it's not tied to a certain,just a different kind of way we
(04:09):
could potentially move withmoney, like have financial
assets and have them be digitaland I don't know man.
I really don't understand whySure yeah, yeah, I don't know
understand why?
Ryan Nelson (04:27):
Sure, yeah, yeah, I don't know.
Yeah, so yeah I.
I.
When, when clients are talkingto me, I decentralized, comes up
a decent amount.
Um, another thing that comes up, and again, I think most people
are in your same shoe wherethey don't there's in your same
shoes where they don'tunderstand it either.
Right, uh, I think even thepeople who, like quote unquote,
claim they understand it.
Sure, very few of them evenunderstand it, right, right.
Yeah, you, what's that saying?
Like you don't reallyunderstand something unless you
(04:49):
can explain it to like a thirdgrader and that you ask somebody
to like explain it, and they'llstart talking.
It's like, okay, you don't knowwhat you're talking about.
Aaron Hoisington (04:55):
You're just regurgitating a YouTube video.
You're just like oh uh.
Ryan Nelson (05:01):
So w w, w, and again, I'm not even gonna.
I'm not saying this is true,I'm not saying this isn't true,
but one of the probably thenumber one reason why, if I
asked that to clients, thenumber one response I get.
So this may or may not beindicative of the public in
general, but they say, yeah, thevalue of a cryptocurrency is
that there could be thisuniversal currency that, like,
(05:22):
the whole world uses Right, umand so there's one currency like
Bitcoin is a quote, unquote bigBitcoin right now, and so if
somebody likes Bitcoin, theymight say I think Bitcoin is
going to become the universalcurrency where basically the
whole world's using it and nowyou don't have to worry about
any currency exchanges oranything like that, and it is
(05:43):
decentralized.
But they like the idea of thisuniversal currency.
Aaron Hoisington (05:48):
Have you heard that as well?
Yeah, universal decentralizedthese buzzwords that just kind
of get thrown out.
Yeah.
Ryan Nelson (05:57):
So let's just kind of run through some thoughts
about those two things.
So one, let's start with theuniversal, uh, like universal
currency, so we'll put a pin inthat and I'll give a quick
example and then we'll come backand maybe, uh, unpin it.
But so, um, let's separateourselves from it.
Go, take ourselves back toCOVID.
Uh, march of 2020, whenCOVID-19 came out, right, I
(06:19):
would have a bunch of clientscoming to me, a number, and they
would say hey, ryan, you know,I want to invest in company ABC
because I heard my you know, myniece told me that they're
developing the vaccine for COVID, Right.
And then somebody else would sayhey, I want to invest in a
different company.
You know the company XYZ.
You know my, whatever.
(06:41):
My sister works for a medicalcompany and she said that
they're going to have thevaccine for COVID right.
And then somebody else wants toinvest into another company,
right?
My point is there were allthese companies, probably
hundreds of companies, sort ofracing for the to develop the
vaccine for COVID right and, asyou can imagine, that's probably
a very lucrative thing right, Imean at that point in time, the
world was closed down.
(07:02):
Like you want, if you can be thecompany that comes out with the
vaccine, that's probably superlucrative.
And so all these companiesputting all these dollars right,
millions of dollars, intodeveloping this vaccine for
COVID, effectively, there weretwo winners right, moderna and
Pfizer.
And if you had invested in anyone of those other companies, I
mean largely they put a lot ofmoney into some research or
(07:24):
development and didn't havereally, for most of them, a
product to sell, right, right.
And so you know, it's anexample where they were sort of
at odds with each other.
They were competing with eachother and there could only be a
couple of winners and by havinga couple of winners, the rest
effectively lost.
And so if you had vet, you know, for make our example really
easy, let's say there were 200companies in this race.
(07:45):
Two of them ended up with afinal product.
That means the hundred and the198 others lost and therefore
probably wasn't a very goodinvestment, right, right.
And so if we apply this samelogic to cryptocurrency if you
like cryptocurrency, because youbelieve it's going to be this
universal currency what thatmeans is, effectively, all the
(08:05):
other ones are going to have tobe losers?
Yeah, definitely.
And so if there's hundreds,probably thousands, of different
coins, now, if you think aboutit, what are the odds that the
currency you're investing in isgoing to be the quote unquote
universal currency, right?
I think it would be reasonable,if there's thousands of
different currencies, to realize, man, that's going to be pretty
(08:26):
hard to predict which one'sgoing to be quote unquote the
currency, right?
So that'd be one fear I wouldjust have in general.
And another thing I would say isis like, again, if we look back
30 years from now, for allintents and purposes, the
internet didn't exist 30 yearsago, right?
Yeah, as we look forward 30years from now, I mean,
(08:47):
technology is growing at like anexponential rate, right?
So I would think the gapbetween not having internet in
today is smaller than where wewill be today in 30 years from
now, sure.
So if you fast forward 30 yearsfrom now, do you think Bitcoin
is going to still be like thiscutting edge technology?
Or do you think, even if thereis going to be some future
Bitcoin, is it theoretically atleast possible that, if there is
(09:10):
a theoretical universalcurrency again, I'm not saying
there is or won't be, I don'tknow enough to know, but even if
there, just as a thoughtexperiment, even if you're right
and there will be a universalcurrency, is there any
opportunity that that universalcurrency of the future hasn't
even been developed yet?
And if so, if you believethere's a universal currency and
you acknowledge that there'spotential for it not to have
(09:32):
even been existed.
Yet, then, is every currencyyou're currently investing in?
Are you basically, are they allworthless, or what?
So I don't know just aninteresting thought experiment.
Speaker 1 (09:39):
are they all worthless, or what?
Ryan Nelson (09:40):
So I don't know, just an interesting thought
experiment.
And so if you believe that thevalue of crypto is a universal
currency, I think by default youprobably also believe that the
rest are not the universalcurrency.
Therefore, they're not going tobe very useful or probably not
worth much, and so I don't know.
Just again a thought experiment.
(10:01):
I definitely, like I said,don't know enough about
cryptocurrency to have a strongthought there, but I think it's
an interesting thoughtexperiment.
The other thing we mentionedwas decentralization, and so
decentralization, like mypersonal take is, it's probably
not good or bad, it's justsomething different.
But oftentimes people, I think,have that grass is always
greener, right, the new jobsounds cooler, and then you get
(10:21):
in the new job and you're likeman, this is the same stuff.
Speaker 1 (10:23):
Gosh.
Ryan Nelson (10:24):
I had it good in the other place, right, Like you
know, and so I think it'sreasonable to be maybe
frustrated with a current systemand say, gosh, this
decentralized system would bepretty cool, Right Um but let me
just pause.
Aaron Hoisington (10:35):
So decentralized is that?
I think that it's like notreliant on banks?
Pretty much, yeah, banks andthe government, banks and
government, okay, cool.
Ryan Nelson (10:43):
And so there's some theoretical benefits to that
for sure, Especially dependingwhat your philosophy is on how
economic markets work, If youlike, the idea of what's called
just the invisible hand and justkind of how markets could sort
of govern themselves.
This is a pretty cool potentialpositive right.
(11:05):
But if you remember back in Ithink it was 2023, maybe now
it's hard to remember now, butthere were a couple of banks,
like in the Silicon Valley areathat failed.
And there was a big sort ofhoorah around all these people's
money.
Now what's going to happen withit?
(11:25):
Right, and FDIC stepped in andinsured everything, even above
and beyond what they wererequired to insure.
They just insured every pennyat those banks, which was
awesome, right, and everybodykind of got made whole.
That was the result of our USgovernment, right?
Aaron Hoisington (11:40):
That's the result of a centralized system
right so in a decentralizedsystem.
Ryan Nelson (11:45):
something like that doesn't exist, right, and
that's one small example.
But like a more relevantexample, like if you go, let's
say I have a small little Etsyshop, you buy something from me
from me.
(12:05):
We were just in a group chatand they mentioned somebody
bought a drill or something, andthey just got a piece of paper.
So I think if we were to applythis logic to this example, so I
think, if I remember theexample right, somebody ordered
a drill online and they just gotshipped a piece of paper of the
drill.
So, right now, if I went onlineand I ordered a drill and
somebody just shipped me a pieceof paper on the drill, I would
go to my credit card providerand I would basically say, hey,
(12:27):
I didn't get the product Iordered.
They'd do a charge back.
They would basically take themoney back.
I would be made whole.
If you're in a decentralizedsystem, none of that exists.
If you buy a drill and theydon't deliver the product that
you said, there's no likerepercussions, right, like.
So you're open to scams, you'reopen to fraud, right, there's
(12:47):
just also, while there'spositives, there's also
negatives that come along withthat along that journey.
Right, and so it'd be.
Hey, you know, just think aboutall those pros and all those
cons.
And you know, there's thesestories of, you know, people
losing their access to theircryptocurrency, effectively
losing their, you know, if theyhave it on a flash drive, losing
(13:07):
the flash drive and no longerhaving access and then wanting
you know, obviously thesestories are made sort of popular
because of the irony of it butand then wanting the government
to step in and it's like, well,you can't have your cake and eat
it too, right, and so, yeah,there's definitely pros, there's
definitely negatives and it'seasy Again, the grass is always
green greener.
So when you're in the currentsystem, it's easy to see, like,
(13:29):
the negatives of your currentsystem.
And, gosh man, this other thingwould be pretty cool.
But as you start to imaginethat other world as well, um,
gosh, you know, even as scamsand stuff are ramping up in
these, a decentralized systemcould potentially make that even
worse, right, there also may besome logic there where it could
(13:49):
make it better that I'm notaware of as well, right?
So a lot of this, I would say.
I guess my views on crypto arefrom an investment strategy.
It should be viewed likeanything else.
You don't want to put all youreggs in any one basket, right,
you want to be diversified.
So I wouldn't put too muchmoney in cryptocurrencies in
general.
And then, even when you'reinvesting in cryptocurrency, I
wouldn't put too much money inany single currency.
(14:09):
And again, I would just kind ofsort of practice, the same
elements of diversification thatyou would apply to any other
portfolio.
The other thing I would say isthese do tend to seemingly be
very volatile assets, so itmaybe shouldn't be as large of a
piece of your portfolio, right?
So if it's a small supplement,if it represents half of 1% of
(14:30):
your portfolio, or 1%, maybeeven 2% of your portfolio,
probably not the end of theworld, and if everything you
invest in goes to zero, you'llstill be financially secure,
right?
Totally, if it goes to the moon, you'll have some upside for
there right.
But I do think a lot of peoplealmost treat it more as gambling
than investing, and thedifference I use there is
(14:51):
gambling, your expected returnsare negative or at least unknown
.
When you're investing, yourexpected returns are positive
right.
So if you go to the casino,you're playing blackjack.
I would say the casino is alsoplaying blackjack.
They're on the other side ofthat hand, right?
The difference is, when we goin, we have a negative expected
(15:12):
return.
The casino has a positiveexpected return.
I would say that you couldalmost make an argument that the
casino, in that case, isinvesting, investing, sure, and
we're gambling.
And again, I think a lot ofpeople sometimes treat
cryptocurrencies as if they'regambling, and so I'd say you
probably don't want to gambleyour net worth or your
retirement assets, but also, ifyou have enough money and you
want to gamble a little bit ofyour money on this stuff and you
enjoy it, heck, I got noproblem with it.
Aaron Hoisington (15:33):
Yeah, no, that's a good way to put it.
And I think that the biggestpiece of that is the
diversification.
I'm glad that you hit on thattoo, because it's like, hey, far
be it for me to say like, hey,don't check these things out or
don't do this, but with aportfolio, and hopefully, if you
guys have learned reallyanything from this podcast
overall, just like making surethat, like, hey, if you're
(15:53):
diversified, there's a lot lesschance of you losing everything.
Now, is there a lot lowerchance of you gaining everything
?
Sure, but you also are able tokind of, you know, go through
those ups and downs that happenin the market trend and that's
just kind of you know, whatwe've seen, like the volatility
of currency, like cryptocurrency, it's like, wow, like you know,
(16:14):
it was down to 4,000.
Now it's over 100,000.
Like what does that even?
Like, where does it go next?
Like, sure, this too.
And yeah, I'm glad you touchedon the piece of like you hear
the stories and I watch this tv.
It's called the big bang theory.
Like, uh and uh, there's a,there's a scene in it where
there's an episode in it where,um, bitcoin is like at like
thirty thousand dollars orsomething like that and like
they're, uh, they're like, oh mygosh, you remember back in like
(16:36):
2012, when we mined all thisbitcoin?
yeah, we put it on a flash drivelike where is that flat?
yeah, yeah we had like 7 000bitcoin on there.
We're rich like these differentand uh, they go through all
these different things and thisone guy knows what a flash drive
is and he makes them do allthese tasks to get it.
And then he's like, hey, justas a heads up, what's kind of
fun is that?
It was actually on yourkeychain the whole time?
(16:57):
And he's like, no, I got rid ofthat flash drive eight years
ago.
He just threw it away.
He's like I don't have thatflash drive anymore.
And so he's like oh well, thatRight, right.
It is like I'm more curiousthan anything.
I think, like everything inlife, again I I honestly believe
it's probably not inherentlygood or inherently bad, it's
going to come with pros and it'sgoing to come with cons, and
(17:33):
it'll just be interesting to seewhat those pros are and what
those cons are definitelyawesome.
Well, I appreciate it, ryan.
We'll go ahead and take a pausehere and we'll be back on the
other side of this and now toput the personal in personal
finance.
Welcome back to this side of theFiscal Physical Podcast.
I am still here with Ryan and,ryan, I got a question here for
(17:56):
you and I'll go ahead and poseit, hopefully it gets the juices
flowing, what's somethingyou've always wanted to learn
but haven't yet and, ifapplicable, what's kind of been
holding you back on?
Ryan Nelson (18:06):
that, yeah, for me, I think Spanish is I don't know
, I guess a skill that I'vealways wanted to know or learn.
I should say I did.
I think it was four years ofSpanish in high school and
really all as I came away werelike six vocab words, I think.
Sure, sure, I've traveled tosome Spanish speaking countries
with you and you can probablyvouch my-.
Aaron Hoisington (18:27):
Yeah, it's less than six, so yeah, I don't
know.
Ryan Nelson (18:31):
It's almost like in a in a few weeks ago, we were
talking in an episode about likedancing and stuff and it's.
Or you were talking about howyou value, like people who are
creative with art and stuff, andit just seems to be one of
those skills that, like I'm not,I don't take to as fast or as
well as some other skills.
Um, again a few weeks back wewere talking about, like this,
the value of being able to domath in your head and stuff, and
(18:51):
that's a skill that, like I'vejust taken to more easily.
Right, learning Spanish is askill that's like takes more
time and energy and work, and so, like I've been using Duolingo
for a little while and trying tolearn it that way and, honestly
, just not making like basicallyany progress.
I felt like and I started,though this recent.
(19:12):
At the beginning of this year,I started a program called
pimsleur.
Have you, have you, ever heardof it?
No, it's just a languagelearning.
It's like a rosetta stonealternative, you know, um, but
it's.
It's like basically all audiobased, as opposed to like
reading words and stuff.
So, like, the shtick behind thisis like, like pimsleur, I think
is some dude's last name, andlike his, you know his sales
(19:32):
pitch at least is like babies,you know, you learn language
through hearing and speaking,like, like most kids will learn
how to speak before they learnhow to write, right, um, and
they'll learn how to listenbefore they learn how to speak
and then learn how to write anduh, so he takes like the same
like I guess approach and sothere's a lot of um listening
(19:52):
and again responding and stuffin it.
And yeah, it seems to have beenworking better for me.
So I'd say I've got the um.
My, you know I'm up to likeeight words now 10 words, but
like actually like I got alittle tiny bit of maybe
sentence structure and stuff.
I'd still, I think, be at thepoint where I'd like panic.
If somebody asked me a question.
I'd be like I don't know,there's like too many unknown
words, but certainly I feel likefor the first time in my life,
(20:14):
maybe making a little bit ofprogress towards it.
Awesome.
Aaron Hoisington (20:16):
Yeah, I think that that's big too.
The sentence structure piece ismonstrous in learning a new
language.
If you can learn how to formsentences, you can learn the
verbs and these certain things,but how to format sentences, I
think about it in English andI'm like my gosh.
I'm so glad this is my firstlanguage.
Ryan Nelson (20:36):
Right right.
Aaron Hoisington (20:36):
Because good luck.
You've just got to memorizeeverything.
That's how you have to do it,but a lot of different languages
have almost a mathematicalstructure to them and that's one
of the things I'm like I justneed to know the rules.
And once I can know the rules,I can learn the rest of the
stuff to fill it with.
And it's a very interestingpiece with, like, the audio
(20:57):
thing of it, because I've done abunch of different apps as well
and I've been learningPortuguese and all these
different things and I've kindof stopped doing it and just
really focused on, like, tryingto speak and listen to it.
So, like I'll like watch moviesin Portuguese, nice, like, and
I feel like it's just I've justtaken off so much more, because
once you figure out and I thinkthere's a time and a place for
(21:19):
the app, because, like, certainapps teach you that structure
but then once you learn thestructure, you really don't
learn a lot more out of that.
You're like, oh cool, the ElGato is Negro.
Ryan Nelson (21:29):
You're like, okay, I don't need to say that but I
and I think it also probablydepends on what you're trying to
achieve- Right, totally yeah.
Like there is something you knowto being able to like write a
formal sentence like, or canlike compose a business email,
right.
But there's also a.
It's a different skill.
Or you know, like I don'tnecessarily you know, maybe I'll
(21:49):
value that skill one day.
But like I want to crawl beforeI walk and I want to be able to
order a meal in spanish.
Or, you know, ask where therestaurant is right, or like
there's ask what they recommendright, that's exactly right.
So yeah, yeah.
Aaron Hoisington (22:06):
It's a cool.
Anyway, I could talk forever onlike languages.
I just think they're super cooland like the ways that we now
have to learn them, Like I getadvertisements all the time on
my Instagram about differentways to learn, and like the
audio one.
I haven't seen Pimsleurspecifically, but I've seen a
ton of the other ones that arespecifically like that, that are
mainly audio-based, of whereyou're like cool, just listen to
(22:28):
it and your brain will start topick Anyway super cool.
Ryan Nelson (22:31):
What about yourself , though?
Aaron Hoisington (22:33):
Mine isn't nearly as like.
I'm not super passionate aboutthis, but one thing I'd love to
learn is car maintenance.
Speaker 1 (22:42):
Oh yeah.
Aaron Hoisington (22:42):
I think that it would be so great to be able
to confidently go out and maybecoming off like an idiot or
whatever confidently go changemy oil.
Gosh, you sound like an idiot.
Ryan Nelson (22:54):
Yeah.
Aaron Hoisington (22:56):
And know that I've done it correctly.
Yeah, and know that I'm likeall right cool, if my car breaks
down it wasn't because Iincorrectly changed the oil or
forgot to put oil back in it orwhatever.
Just some simple things thatI've watched YouTube videos,
I've changed a headlight or twoand one of the times I did it I
just totally messed it up andhad to go have it done
(23:17):
professionally and all thesedifferent things, and so it just
ends up costing me more money.
A lot of times when I DIY itLike so, I feel like it's out
there, but I'm just like scaredof it too, and I'm just like.
You mentioned an episode or twoback about like a car and
getting it point A to point B.
That's exactly how I look at acar.
(23:45):
I'm like I don't care what Idrive.
I really don't, but I want itto work, so like I'm willing to
like pay the money to somebodywho's maybe studied this, versus
me looking up on YouTube for it.
So but I do think that it'd beawesome and I hope in the future
, like I think about like Ishould probably take like a
basic mechanic class.
Ryan Nelson (23:56):
Yeah, Like I think that could only it could only
help me.
Aaron Hoisington (23:59):
Absolutely.
It was like or just I get intomore trouble with it, but I
don't know Right when you finishthat class.
Ryan Nelson (24:04):
It'll be like all electric vehicles, moving
forward Exactly, yeah, and I'mjust like, well, that's an
outdated skill.
Now I got a DVD of this.
Aaron Hoisington (24:11):
Yeah, that would be a great skill to have,
though I agree.
Ryan Nelson (24:15):
Yeah.
Aaron Hoisington (24:16):
It'd be.
It'd be pretty useful, I wouldthink.
But anyway, awesome.
Well, appreciate everybodylistening in here today.
Hopefully you guys learnedsomething and if you didn't,
hopefully you're thinking aboutsomething else and you still
tune in next week to see what wemight bring you.
So I appreciate everybody.
I know I was looking at thestats the other day and I was
like a big stat guy and I'm likeman, we have some people who
(24:39):
have listened to these episodesand it's just it's fun to see
like that people do and I'm like, ah well, so thank you to both
of you.
Yeah, exactly, yeah, yeah.
Thank you to both of us who'velistened to these 3,000 times a
piece, but anyway, anything tosay at the end of this here,
Ryan.
Ryan Nelson (24:55):
As always, stay the course.
Speaker 1 (24:59):
Thank you for joining us for the Fiscal Physical
Podcast.
Until next time, happylistening and, as always, stay
the course.
If you have a question or topicsuggestions, please email us at
podcast at alchemywealthcom.
If you enjoyed today'sdiscussion, subscribe to the
podcast to ensure you never missan episode and consider leaving
(25:21):
us a rating and review on yourfavorite platform.
This helps other listeners likeyou find the show.
For more resources, you canvisit Alchemy Wealth
Management's website atwwwalchemywealthcom or find your
fiscal physical the book onAmazon.
We'd be remiss if we didn'tmention that personal finance is
just that personal.
(25:41):
Please don't take anything wesay as advice.
The preceding content is forinformational and entertainment
purposes only.
It's not an offer or asolicitation, nor should it be
construed or relied upon for tax, legal or investment advice.
It doesn't consider yourpersonal financial situation or
objectives and may not besuitable for you.
Welcome to the Fiscal Physical Podcast.
Join us each week as we sitdown with the founder of Alchemy
Wealth Management and author ofyour Fiscal Physical, Ryan
Nelson.
Tune in to gain valuableinsights and practical tips as
we simplify complex financialconcepts into digestible lessons
(00:22):
.
From budgeting to retirementplanning, this podcast is your
go-to resource for masteringfinancial literacy.
Aaron Hoisington (00:33):
Welcome everybody to this week's episode
of the Fiscal Physical Podcast.
My name is Aaron.
I am joined by the author of abook, your Fiscal Physical Seven
Keys to Becoming FinanciallyFit, mr Ryan Nelson, also the
founder of Alchemy WealthManagement.
Ryan, how are you on thisglorious day?
I'm doing really well.
(00:53):
How are you doing today?
I'm doing pretty solid.
I also have to give a littlepeek behind the microphone as
well.
We're currently in your officerecording this and you got a
massive desk in here, sure, sureoffice recording this.
And, uh, you got a massive deskin here.
Sure, like this day, like I, Iwish I could paint the picture
for the listeners about howgrand this thing is.
It looks like the uh, I can'tremember the desk that, uh,
people do at the white house,but this is oh yeah, like
(01:15):
reminds me.
You walk in here like if I wassitting here and you were behind
there, I'd be like, wow, thisguy is in a position of power so
like we've done a few episodesof this podcast 60 plus actually
and like I've been meaning tomention, like this is awesome,
just in general, it's a great,great investment.
However you got it or whatever.
Ryan Nelson (01:34):
Yeah, I actually don't own the desk, it was.
It just came in the office.
The old, the person who was inthis office before me was an
attorney, and so it's like.
So it's like exactly what youwould picture like an old
attorney's desk to be this likebig, grandiose thing.
Not necessarily exactly my type, but hey, I'll use it.
Aaron Hoisington (01:54):
Yeah, I came with the idea.
Cool, this will work.
Ryan Nelson (01:57):
Yeah exactly.
But, awesome.
Aaron Hoisington (01:59):
Well, today we're going to dive into the
topic of something that, if youdon't live under a rock, you've
heard about over the last Xamount of years is
cryptocurrency.
What, yeah, what?
Oh, this is news to me.
Podcast ends, stay the course.
But I think it's a relativelynew topic in the financial world
(02:22):
and I'm hoping, ryan, you canbreak it down a little bit,
maybe about the history of it alittle bit, or how you navigated
as a financial advisor and whatyou kind of see this industry
and how you kind of view it.
And obviously, I like topreface that, hey, we're not
here to give financial advice,sure, but maybe just wet the
whistle on this topic overall,yeah, I was hoping maybe you
(02:45):
would take this episode.
Yeah, it'd be really short.
Ryan Nelson (02:49):
Yeah.
So I would say this is a topicthat I'm very ignorant on.
I'll kind of run through maybesome of my ideas and how it
would apply to a more robustretirement plan.
But yeah, I'd say, overall, Ido find myself, or believe
myself to be pretty ignorantwhen it comes to
cryptocurrencies.
Overall, I do find myself, orbelieve myself to be pretty
ignorant when it comes tocryptocurrencies just in general
and exactly how they work onthe back end.
But maybe, before we dive in,so this is what's interesting,
(03:11):
this is probably the.
I get asked this probably morethan anything else.
I mean I probably get askedabout cryptocurrencies every
single day.
At this point, really, I wouldsay I mean I can't.
I mean, yeah, that's not anexaggeration.
I probably get asked, I meanevery day for the last few weeks
, and so, yeah, I'd be curiousbefore we dive in, like just
(03:32):
what is your initial thought?
Or like what is your idea?
What do you think the allure tocryptocurrency is?
Or like what makes acryptocurrency?
Just what's your maybe opinionor public, what do you believe
the public perceives this to,why they perceive it to be
valuable?
Aaron Hoisington (03:45):
Yeah, it's a great question and, honestly,
I've watched some YouTube videoson it.
I've talked to some of myfriends who are kind of into it
and I still don't understand it.
I don't really under, but I'vehad some people kind of explain
it like oh, it's like a, it'sdecentralized or it's like not
or it's not tied to a certain,just a different kind of way we
(04:09):
could potentially move withmoney, like have financial
assets and have them be digitaland I don't know man.
I really don't understand whySure yeah, yeah, I don't know
understand why?
Ryan Nelson (04:27):
Sure, yeah, yeah, I don't know.
Yeah, so yeah I.
I.
When, when clients are talkingto me, I decentralized, comes up
a decent amount.
Um, another thing that comes up, and again, I think most people
are in your same shoe wherethey don't there's in your same
shoes where they don'tunderstand it either.
Right, uh, I think even thepeople who, like quote unquote,
claim they understand it.
Sure, very few of them evenunderstand it, right, right.
Yeah, you, what's that saying?
Like you don't reallyunderstand something unless you
(04:49):
can explain it to like a thirdgrader and that you ask somebody
to like explain it, and they'llstart talking.
It's like, okay, you don't knowwhat you're talking about.
Aaron Hoisington (04:55):
You're just regurgitating a YouTube video.
You're just like oh uh.
Ryan Nelson (05:01):
So w w, w, and again, I'm not even gonna.
I'm not saying this is true,I'm not saying this isn't true,
but one of the probably thenumber one reason why, if I
asked that to clients, thenumber one response I get.
So this may or may not beindicative of the public in
general, but they say, yeah, thevalue of a cryptocurrency is
that there could be thisuniversal currency that, like,
(05:22):
the whole world uses Right, umand so there's one currency like
Bitcoin is a quote, unquote bigBitcoin right now, and so if
somebody likes Bitcoin, theymight say I think Bitcoin is
going to become the universalcurrency where basically the
whole world's using it and nowyou don't have to worry about
any currency exchanges oranything like that, and it is
(05:43):
decentralized.
But they like the idea of thisuniversal currency.
Aaron Hoisington (05:48):
Have you heard that as well?
Yeah, universal decentralizedthese buzzwords that just kind
of get thrown out.
Yeah.
Ryan Nelson (05:57):
So let's just kind of run through some thoughts
about those two things.
So one, let's start with theuniversal, uh, like universal
currency, so we'll put a pin inthat and I'll give a quick
example and then we'll come backand maybe, uh, unpin it.
But so, um, let's separateourselves from it.
Go, take ourselves back toCOVID.
Uh, march of 2020, whenCOVID-19 came out, right, I
(06:19):
would have a bunch of clientscoming to me, a number, and they
would say hey, ryan, you know,I want to invest in company ABC
because I heard my you know, myniece told me that they're
developing the vaccine for COVID, Right.
And then somebody else would sayhey, I want to invest in a
different company.
You know the company XYZ.
You know my, whatever.
(06:41):
My sister works for a medicalcompany and she said that
they're going to have thevaccine for COVID right.
And then somebody else wants toinvest into another company,
right?
My point is there were allthese companies, probably
hundreds of companies, sort ofracing for the to develop the
vaccine for COVID right and, asyou can imagine, that's probably
a very lucrative thing right, Imean at that point in time, the
world was closed down.
(07:02):
Like you want, if you can be thecompany that comes out with the
vaccine, that's probably superlucrative.
And so all these companiesputting all these dollars right,
millions of dollars, intodeveloping this vaccine for
COVID, effectively, there weretwo winners right, moderna and
Pfizer.
And if you had invested in anyone of those other companies, I
mean largely they put a lot ofmoney into some research or
(07:24):
development and didn't havereally, for most of them, a
product to sell, right, right.
And so you know, it's anexample where they were sort of
at odds with each other.
They were competing with eachother and there could only be a
couple of winners and by havinga couple of winners, the rest
effectively lost.
And so if you had vet, you know, for make our example really
easy, let's say there were 200companies in this race.
(07:45):
Two of them ended up with afinal product.
That means the hundred and the198 others lost and therefore
probably wasn't a very goodinvestment, right, right.
And so if we apply this samelogic to cryptocurrency if you
like cryptocurrency, because youbelieve it's going to be this
universal currency what thatmeans is, effectively, all the
(08:05):
other ones are going to have tobe losers?
Yeah, definitely.
And so if there's hundreds,probably thousands, of different
coins, now, if you think aboutit, what are the odds that the
currency you're investing in isgoing to be the quote unquote
universal currency, right?
I think it would be reasonable,if there's thousands of
different currencies, to realize, man, that's going to be pretty
(08:26):
hard to predict which one'sgoing to be quote unquote the
currency, right?
So that'd be one fear I wouldjust have in general.
And another thing I would say isis like, again, if we look back
30 years from now, for allintents and purposes, the
internet didn't exist 30 yearsago, right?
Yeah, as we look forward 30years from now, I mean,
(08:47):
technology is growing at like anexponential rate, right?
So I would think the gapbetween not having internet in
today is smaller than where wewill be today in 30 years from
now, sure.
So if you fast forward 30 yearsfrom now, do you think Bitcoin
is going to still be like thiscutting edge technology?
Or do you think, even if thereis going to be some future
Bitcoin, is it theoretically atleast possible that, if there is
(09:10):
a theoretical universalcurrency again, I'm not saying
there is or won't be, I don'tknow enough to know, but even if
there, just as a thoughtexperiment, even if you're right
and there will be a universalcurrency, is there any
opportunity that that universalcurrency of the future hasn't
even been developed yet?
And if so, if you believethere's a universal currency and
you acknowledge that there'spotential for it not to have
(09:32):
even been existed.
Yet, then, is every currencyyou're currently investing in?
Are you basically, are they allworthless, or what?
So I don't know just aninteresting thought experiment.
Speaker 1 (09:39):
are they all worthless, or what?
Ryan Nelson (09:40):
So I don't know, just an interesting thought
experiment.
And so if you believe that thevalue of crypto is a universal
currency, I think by default youprobably also believe that the
rest are not the universalcurrency.
Therefore, they're not going tobe very useful or probably not
worth much, and so I don't know.
Just again a thought experiment.
(10:01):
I definitely, like I said,don't know enough about
cryptocurrency to have a strongthought there, but I think it's
an interesting thoughtexperiment.
The other thing we mentionedwas decentralization, and so
decentralization, like mypersonal take is, it's probably
not good or bad, it's justsomething different.
But oftentimes people, I think,have that grass is always
greener, right, the new jobsounds cooler, and then you get
(10:21):
in the new job and you're likeman, this is the same stuff.
Speaker 1 (10:23):
Gosh.
Ryan Nelson (10:24):
I had it good in the other place, right, Like you
know, and so I think it'sreasonable to be maybe
frustrated with a current systemand say, gosh, this
decentralized system would bepretty cool, Right Um but let me
just pause.
Aaron Hoisington (10:35):
So decentralized is that?
I think that it's like notreliant on banks?
Pretty much, yeah, banks andthe government, banks and
government, okay, cool.
Ryan Nelson (10:43):
And so there's some theoretical benefits to that
for sure, Especially dependingwhat your philosophy is on how
economic markets work, If youlike, the idea of what's called
just the invisible hand and justkind of how markets could sort
of govern themselves.
This is a pretty cool potentialpositive right.
(11:05):
But if you remember back in Ithink it was 2023, maybe now
it's hard to remember now, butthere were a couple of banks,
like in the Silicon Valley areathat failed.
And there was a big sort ofhoorah around all these people's
money.
Now what's going to happen withit?
(11:25):
Right, and FDIC stepped in andinsured everything, even above
and beyond what they wererequired to insure.
They just insured every pennyat those banks, which was
awesome, right, and everybodykind of got made whole.
That was the result of our USgovernment, right?
Aaron Hoisington (11:40):
That's the result of a centralized system
right so in a decentralizedsystem.
Ryan Nelson (11:45):
something like that doesn't exist, right, and
that's one small example.
But like a more relevantexample, like if you go, let's
say I have a small little Etsyshop, you buy something from me
from me.
(12:05):
We were just in a group chatand they mentioned somebody
bought a drill or something, andthey just got a piece of paper.
So I think if we were to applythis logic to this example, so I
think, if I remember theexample right, somebody ordered
a drill online and they just gotshipped a piece of paper of the
drill.
So, right now, if I went onlineand I ordered a drill and
somebody just shipped me a pieceof paper on the drill, I would
go to my credit card providerand I would basically say, hey,
(12:27):
I didn't get the product Iordered.
They'd do a charge back.
They would basically take themoney back.
I would be made whole.
If you're in a decentralizedsystem, none of that exists.
If you buy a drill and theydon't deliver the product that
you said, there's no likerepercussions, right, like.
So you're open to scams, you'reopen to fraud, right, there's
(12:47):
just also, while there'spositives, there's also
negatives that come along withthat along that journey.
Right, and so it'd be.
Hey, you know, just think aboutall those pros and all those
cons.
And you know, there's thesestories of, you know, people
losing their access to theircryptocurrency, effectively
losing their, you know, if theyhave it on a flash drive, losing
(13:07):
the flash drive and no longerhaving access and then wanting
you know, obviously thesestories are made sort of popular
because of the irony of it butand then wanting the government
to step in and it's like, well,you can't have your cake and eat
it too, right, and so, yeah,there's definitely pros, there's
definitely negatives and it'seasy Again, the grass is always
green greener.
So when you're in the currentsystem, it's easy to see, like,
(13:29):
the negatives of your currentsystem.
And, gosh man, this other thingwould be pretty cool.
But as you start to imaginethat other world as well, um,
gosh, you know, even as scamsand stuff are ramping up in
these, a decentralized systemcould potentially make that even
worse, right, there also may besome logic there where it could
(13:49):
make it better that I'm notaware of as well, right?
So a lot of this, I would say.
I guess my views on crypto arefrom an investment strategy.
It should be viewed likeanything else.
You don't want to put all youreggs in any one basket, right,
you want to be diversified.
So I wouldn't put too muchmoney in cryptocurrencies in
general.
And then, even when you'reinvesting in cryptocurrency, I
wouldn't put too much money inany single currency.
(14:09):
And again, I would just kind ofsort of practice, the same
elements of diversification thatyou would apply to any other
portfolio.
The other thing I would say isthese do tend to seemingly be
very volatile assets, so itmaybe shouldn't be as large of a
piece of your portfolio, right?
So if it's a small supplement,if it represents half of 1% of
(14:30):
your portfolio, or 1%, maybeeven 2% of your portfolio,
probably not the end of theworld, and if everything you
invest in goes to zero, you'llstill be financially secure,
right?
Totally, if it goes to the moon, you'll have some upside for
there right.
But I do think a lot of peoplealmost treat it more as gambling
than investing, and thedifference I use there is
(14:51):
gambling, your expected returnsare negative or at least unknown
.
When you're investing, yourexpected returns are positive
right.
So if you go to the casino,you're playing blackjack.
I would say the casino is alsoplaying blackjack.
They're on the other side ofthat hand, right?
The difference is, when we goin, we have a negative expected
(15:12):
return.
The casino has a positiveexpected return.
I would say that you couldalmost make an argument that the
casino, in that case, isinvesting, investing, sure, and
we're gambling.
And again, I think a lot ofpeople sometimes treat
cryptocurrencies as if they'regambling, and so I'd say you
probably don't want to gambleyour net worth or your
retirement assets, but also, ifyou have enough money and you
want to gamble a little bit ofyour money on this stuff and you
enjoy it, heck, I got noproblem with it.
Aaron Hoisington (15:33):
Yeah, no, that's a good way to put it.
And I think that the biggestpiece of that is the
diversification.
I'm glad that you hit on thattoo, because it's like, hey, far
be it for me to say like, hey,don't check these things out or
don't do this, but with aportfolio, and hopefully, if you
guys have learned reallyanything from this podcast
overall, just like making surethat, like, hey, if you're
(15:53):
diversified, there's a lot lesschance of you losing everything.
Now, is there a lot lowerchance of you gaining everything
?
Sure, but you also are able tokind of, you know, go through
those ups and downs that happenin the market trend and that's
just kind of you know, whatwe've seen, like the volatility
of currency, like cryptocurrency, it's like, wow, like you know,
(16:14):
it was down to 4,000.
Now it's over 100,000.
Like what does that even?
Like, where does it go next?
Like, sure, this too.
And yeah, I'm glad you touchedon the piece of like you hear
the stories and I watch this tv.
It's called the big bang theory.
Like, uh and uh, there's a,there's a scene in it where
there's an episode in it where,um, bitcoin is like at like
thirty thousand dollars orsomething like that and like
they're, uh, they're like, oh mygosh, you remember back in like
(16:36):
2012, when we mined all thisbitcoin?
yeah, we put it on a flash drivelike where is that flat?
yeah, yeah we had like 7 000bitcoin on there.
We're rich like these differentand uh, they go through all
these different things and thisone guy knows what a flash drive
is and he makes them do allthese tasks to get it.
And then he's like, hey, justas a heads up, what's kind of
fun is that?
It was actually on yourkeychain the whole time?
(16:57):
And he's like, no, I got rid ofthat flash drive eight years
ago.
He just threw it away.
He's like I don't have thatflash drive anymore.
And so he's like oh well, thatRight, right.
It is like I'm more curiousthan anything.
I think, like everything inlife, again I I honestly believe
it's probably not inherentlygood or inherently bad, it's
going to come with pros and it'sgoing to come with cons, and
(17:33):
it'll just be interesting to seewhat those pros are and what
those cons are definitelyawesome.
Well, I appreciate it, ryan.
We'll go ahead and take a pausehere and we'll be back on the
other side of this and now toput the personal in personal
finance.
Welcome back to this side of theFiscal Physical Podcast.
I am still here with Ryan and,ryan, I got a question here for
(17:56):
you and I'll go ahead and poseit, hopefully it gets the juices
flowing, what's somethingyou've always wanted to learn
but haven't yet and, ifapplicable, what's kind of been
holding you back on?
Ryan Nelson (18:06):
that, yeah, for me, I think Spanish is I don't know
, I guess a skill that I'vealways wanted to know or learn.
I should say I did.
I think it was four years ofSpanish in high school and
really all as I came away werelike six vocab words, I think.
Sure, sure, I've traveled tosome Spanish speaking countries
with you and you can probablyvouch my-.
Aaron Hoisington (18:27):
Yeah, it's less than six, so yeah, I don't
know.
Ryan Nelson (18:31):
It's almost like in a in a few weeks ago, we were
talking in an episode about likedancing and stuff and it's.
Or you were talking about howyou value, like people who are
creative with art and stuff, andit just seems to be one of
those skills that, like I'm not,I don't take to as fast or as
well as some other skills.
Um, again a few weeks back wewere talking about, like this,
the value of being able to domath in your head and stuff, and
(18:51):
that's a skill that, like I'vejust taken to more easily.
Right, learning Spanish is askill that's like takes more
time and energy and work, and so, like I've been using Duolingo
for a little while and trying tolearn it that way and, honestly
, just not making like basicallyany progress.
I felt like and I started,though this recent.
(19:12):
At the beginning of this year,I started a program called
pimsleur.
Have you, have you, ever heardof it?
No, it's just a languagelearning.
It's like a rosetta stonealternative, you know, um, but
it's.
It's like basically all audiobased, as opposed to like
reading words and stuff.
So, like, the shtick behind thisis like, like pimsleur, I think
is some dude's last name, andlike his, you know his sales
(19:32):
pitch at least is like babies,you know, you learn language
through hearing and speaking,like, like most kids will learn
how to speak before they learnhow to write, right, um, and
they'll learn how to listenbefore they learn how to speak
and then learn how to write anduh, so he takes like the same
like I guess approach and sothere's a lot of um listening
(19:52):
and again responding and stuffin it.
And yeah, it seems to have beenworking better for me.
So I'd say I've got the um.
My, you know I'm up to likeeight words now 10 words, but
like actually like I got alittle tiny bit of maybe
sentence structure and stuff.
I'd still, I think, be at thepoint where I'd like panic.
If somebody asked me a question.
I'd be like I don't know,there's like too many unknown
words, but certainly I feel likefor the first time in my life,
(20:14):
maybe making a little bit ofprogress towards it.
Awesome.
Aaron Hoisington (20:16):
Yeah, I think that that's big too.
The sentence structure piece ismonstrous in learning a new
language.
If you can learn how to formsentences, you can learn the
verbs and these certain things,but how to format sentences, I
think about it in English andI'm like my gosh.
I'm so glad this is my firstlanguage.
Ryan Nelson (20:36):
Right right.
Aaron Hoisington (20:36):
Because good luck.
You've just got to memorizeeverything.
That's how you have to do it,but a lot of different languages
have almost a mathematicalstructure to them and that's one
of the things I'm like I justneed to know the rules.
And once I can know the rules,I can learn the rest of the
stuff to fill it with.
And it's a very interestingpiece with, like, the audio
(20:57):
thing of it, because I've done abunch of different apps as well
and I've been learningPortuguese and all these
different things and I've kindof stopped doing it and just
really focused on, like, tryingto speak and listen to it.
So, like I'll like watch moviesin Portuguese, nice, like, and
I feel like it's just I've justtaken off so much more, because
once you figure out and I thinkthere's a time and a place for
(21:19):
the app, because, like, certainapps teach you that structure
but then once you learn thestructure, you really don't
learn a lot more out of that.
You're like, oh cool, the ElGato is Negro.
Ryan Nelson (21:29):
You're like, okay, I don't need to say that but I
and I think it also probablydepends on what you're trying to
achieve- Right, totally yeah.
Like there is something you knowto being able to like write a
formal sentence like, or canlike compose a business email,
right.
But there's also a.
It's a different skill.
Or you know, like I don'tnecessarily you know, maybe I'll
(21:49):
value that skill one day.
But like I want to crawl beforeI walk and I want to be able to
order a meal in spanish.
Or, you know, ask where therestaurant is right, or like
there's ask what they recommendright, that's exactly right.
So yeah, yeah.
Aaron Hoisington (22:06):
It's a cool.
Anyway, I could talk forever onlike languages.
I just think they're super cooland like the ways that we now
have to learn them, Like I getadvertisements all the time on
my Instagram about differentways to learn, and like the
audio one.
I haven't seen Pimsleurspecifically, but I've seen a
ton of the other ones that arespecifically like that, that are
mainly audio-based, of whereyou're like cool, just listen to
(22:28):
it and your brain will start topick Anyway super cool.
Ryan Nelson (22:31):
What about yourself , though?
Aaron Hoisington (22:33):
Mine isn't nearly as like.
I'm not super passionate aboutthis, but one thing I'd love to
learn is car maintenance.
Speaker 1 (22:42):
Oh yeah.
Aaron Hoisington (22:42):
I think that it would be so great to be able
to confidently go out and maybecoming off like an idiot or
whatever confidently go changemy oil.
Gosh, you sound like an idiot.
Ryan Nelson (22:54):
Yeah.
Aaron Hoisington (22:56):
And know that I've done it correctly.
Yeah, and know that I'm likeall right cool, if my car breaks
down it wasn't because Iincorrectly changed the oil or
forgot to put oil back in it orwhatever.
Just some simple things thatI've watched YouTube videos,
I've changed a headlight or twoand one of the times I did it I
just totally messed it up andhad to go have it done
(23:17):
professionally and all thesedifferent things, and so it just
ends up costing me more money.
A lot of times when I DIY itLike so, I feel like it's out
there, but I'm just like scaredof it too, and I'm just like.
You mentioned an episode or twoback about like a car and
getting it point A to point B.
That's exactly how I look at acar.
(23:45):
I'm like I don't care what Idrive.
I really don't, but I want itto work, so like I'm willing to
like pay the money to somebodywho's maybe studied this, versus
me looking up on YouTube for it.
So but I do think that it'd beawesome and I hope in the future
, like I think about like Ishould probably take like a
basic mechanic class.
Ryan Nelson (23:56):
Yeah, Like I think that could only it could only
help me.
Aaron Hoisington (23:59):
Absolutely.
It was like or just I get intomore trouble with it, but I
don't know Right when you finishthat class.
Ryan Nelson (24:04):
It'll be like all electric vehicles, moving
forward Exactly, yeah, and I'mjust like, well, that's an
outdated skill.
Now I got a DVD of this.
Aaron Hoisington (24:11):
Yeah, that would be a great skill to have,
though I agree.
Ryan Nelson (24:15):
Yeah.
Aaron Hoisington (24:16):
It'd be.
It'd be pretty useful, I wouldthink.
But anyway, awesome.
Well, appreciate everybodylistening in here today.
Hopefully you guys learnedsomething and if you didn't,
hopefully you're thinking aboutsomething else and you still
tune in next week to see what wemight bring you.
So I appreciate everybody.
I know I was looking at thestats the other day and I was
like a big stat guy and I'm likeman, we have some people who
(24:39):
have listened to these episodesand it's just it's fun to see
like that people do and I'm like, ah well, so thank you to both
of you.
Yeah, exactly, yeah, yeah.
Thank you to both of us who'velistened to these 3,000 times a
piece, but anyway, anything tosay at the end of this here,
Ryan.
Ryan Nelson (24:55):
As always, stay the course.
Speaker 1 (24:59):
Thank you for joining us for the Fiscal Physical
Podcast.
Until next time, happylistening and, as always, stay
the course.
If you have a question or topicsuggestions, please email us at
podcast at alchemywealthcom.
If you enjoyed today'sdiscussion, subscribe to the
podcast to ensure you never missan episode and consider leaving
(25:21):
us a rating and review on yourfavorite platform.
This helps other listeners likeyou find the show.
For more resources, you canvisit Alchemy Wealth
Management's website atwwwalchemywealthcom or find your
fiscal physical the book onAmazon.
We'd be remiss if we didn'tmention that personal finance is
just that personal.
(25:41):
Please don't take anything wesay as advice.
The preceding content is forinformational and entertainment
purposes only.
It's not an offer or asolicitation, nor should it be
construed or relied upon for tax, legal or investment advice.
It doesn't consider yourpersonal financial situation or
objectives and may not besuitable for you.
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.