How I Invest Like a Boss, Part 2— Advanced Strategies and Tactics
Part two of my investment strategies and tactics to finesse the system
This is the second part of my two-part series. If you would like a ground zero where do I start, check out the part-one post here.
Strategy #1: Convert cash into Stablecoins giving 9% APY — acting as an actual ‘high yield savings account’
I Invest in crypto stablecoins and get a 9% ROI (virtually) guaranteed. I use BlockFi (here is my referral link) because they do not have fees (as of January 2022) on buying and selling crypto, which is nuts. I have diversified my stablecoins across:
- Gemini USD
All interest made, I am paid in Ethereum (which gets 5% APY on BlockFi), allowing me to dollar-cost-average into Ethereum.
Updates on Strategy #1, as of May 2022
- Now that Layer 2 is more popular than Layer 1 (and thus has much lower gas fees), a strategy can be purchasing Ethereum directly on a Layer 2 platform like Argent. (Unfortunately Argent doesn’t work in Florida yet).
- Also, Strategy #1 here is no longer viable. I can keep my money in stablecoins (now making about 8%), but you are not allowed to invest more, and can only pull money out.
Strategy #2: Leverage Roth or Traditional IRAs to grow tax-free wealth
Roth or traditional IRA (Roth if you’re just starting out your career and are in a lower tax bracket) and grow your wealth tax-free.
The strategy I’m using to invest in both stocks and crypto: use Titanvest’s Flagship (20 Fortune 500 companies like Apple, Google, Microsoft), and investing in Titanvest’s Crypto portfolio (weighted across Bitcoin, Ethereum, Ada, and a few others).
There are other providers for both stocks, crypto, (and if you’re Peter Thiel), angel investing, but I like that Titan keeps things simple for me — so I personally advocate for them.