Bitcoin and Financial Planning - Bitcoin rewires how people work, focusing on valuable output rather than depreciating fiat currency [2][39] - Financial advisors are slow to adopt Bitcoin due to fiduciary responsibilities and fear of scams, but should evaluate its legitimacy as a $2 trillion asset class [7][9] - Bitcoin changes traditional retirement ideas, encouraging continued productivity and contribution to society at any age [39][40] - Bitcoin financial planning differs from traditional planning by allowing individuals to hold Bitcoin as long-term savings instead of immediately investing in traditional assets [45][48] Bitcoin Adoption and Investment Strategies - Bitcoin adoption is a gradual process, and individuals should not expect things to happen too quickly [24] - Onramp provides multi-institution custody for Bitcoin, eliminating single points of failure and securing assets with a $100 million Lloyds of London insurance policy [29] - The best way to hold Bitcoin is through self-custody with cold storage, but ETFs can serve as an entry point for some individuals [58][60] - Tangential products giving yields, like MSTY, can be used in small proportions, but trading a large portion of Bitcoin for these products is not recommended [72][78] Fiat Money and its Effects - Fiat money has a spiritual cost, leading to immoral behavior and a focus on personal gain rather than the greater good [40] - Fiat brain fog causes impatience, a lack of real value, and a consumeristic society [41] - Monetary sovereignty through Bitcoin allows individuals to take control of their property and take responsibility [41][42] Financial Advisor Perspectives and Misconceptions - Many CFAs and CFPs are not into Bitcoin, with only a small subset attending Bitcoin-related talks at financial conferences [6][55] - A common misconception is that Bitcoin is part of the digital assets asset class, leading to diversification into altcoins, which adds more risk [128][131] - Educating people on Bitcoin should start with identifying the problems it solves, such as inflation and government corruption [139][140]