XRP wins case against SEC! Inflation updates and whats next for BITCOIN ETFs?

When is a good time to start Angel Investing? Why personal branding is so important!

👋 Hello Everyone.

RIPPLE XRP win their case against SEC!

Hot off the press. XRP wins their case and price immediately surges on the news.

The news of the court ruling in favor of Ripple Labs in their case against the Securities and Exchange Commission (SEC) has positive implications for both XRP and the crypto industry as a whole. Here's what it means:

1. Validation for XRP: The court ruling stating that XRP is not a security provides validation for Ripple and its digital asset. This removes the regulatory uncertainty that has been hanging over XRP for a long time. It affirms that XRP can continue to be offered and traded without the additional burden of securities regulations.

2. Increased Market Confidence: The ruling brings more confidence and clarity to the crypto market. It sets a precedent that could potentially influence how other cryptocurrencies are categorized and regulated by authorities. The determination that XRP is not a security may lead to a more favorable regulatory environment for other crypto assets, as it sets a legal precedent for distinguishing between securities and digital currencies.

3. Positive Sentiment and Price Impact: The news of the court ruling has generated a sense of jubilation within the crypto community. The price of XRP experienced a significant surge immediately after the announcement, indicating positive market sentiment and investor confidence. This positive sentiment could potentially spill over to other cryptocurrencies, creating a more optimistic outlook for the industry as a whole.

4. Ripple's Reputation: The court ruling is a significant victory for Ripple Labs and its reputation. It validates their position and strengthens their case against the SEC. This outcome may enhance Ripple's standing within the crypto industry and potentially improve its relationships with other financial institutions and partners.

5. Regulatory Clarity: The court's ruling provides some clarity regarding the regulatory landscape for cryptocurrencies. It helps establish boundaries and guidelines for determining whether a digital asset should be classified as a security. This clarity is essential for the growth and development of the crypto industry, as it helps businesses and investors navigate the regulatory environment more confidently.

Now we can keep an eye on the broader crypto markets in the coming days and weeks. I expect to see some steady gains while people start to regain confidence in the space again.

📣 Pretax vs Roth 401K - And what is the best strategy for you!!!!!

A Pretax 401(k) and a Roth 401(k) are retirement savings options offered by employers in the United States. The key differences between these two types of accounts are as follows:

1. Tax Treatment: The primary difference between a pretax 401(k) and a Roth 401(k) is how contributions and withdrawals are taxed. In a pretax 401(k), contributions are made with pre-tax dollars, meaning the money is taken out of your paycheck before taxes are applied. This reduces your taxable income in the year of contribution. Conversely, Roth 401(k) contributions are made with after-tax dollars, so they do not provide an immediate tax deduction.

2. Taxation of Withdrawals: When it comes to withdrawals, the tax treatment is reversed. With a pretax 401(k), withdrawals made during retirement are subject to income tax. Since the contributions were made on a pre-tax basis, the entire amount of the withdrawal is taxable. In contrast, Roth 401(k) withdrawals are typically tax-free, provided certain conditions are met. Since contributions were made with after-tax dollars, qualified distributions from a Roth 401(k) are not subject to income tax.

3. Required Minimum Distributions (RMDs): Another significant difference is how RMDs are handled. With a pretax 401(k), you are required to start taking withdrawals known as RMDs after reaching the age of 72 (as of 2021). RMDs are subject to income tax. On the other hand, Roth 401(k)s do not have RMDs during the account owner's lifetime. This can allow the funds to continue growing tax-free for a longer period if the account owner doesn't need to make withdrawals.

4. Contributions Limits: Both pretax and Roth 401(k) accounts are subject to the same contribution limits set by the IRS. As of 2021, the annual contribution limit is $19,500 for those under 50 years old and $26,000 for individuals aged 50 and older. These limits apply to the combined contributions to both types of accounts. It is worth noting that employer matching contributions are typically made on a pretax basis, regardless of whether you contribute to a pretax or Roth 401(k).

5. Future Tax Considerations: Choosing between a pretax and Roth 401(k) also depends on your current and future tax situation. If you anticipate being in a lower tax bracket during retirement, a pretax 401(k) may provide greater tax savings since you would pay taxes at a lower rate on your withdrawals. However, if you expect to be in a higher tax bracket in retirement or want to hedge against potential future tax rate increases, a Roth 401(k) may be advantageous since qualified withdrawals are tax-free.

Please please - always consult with a financial advisor or tax professional to determine which type of account aligns best with your individual financial goals and circumstances. Having a 401K is not a wealth building strategy and will not suit you well without active management. And always let me know if you want to setup a consultation call with www.camtoledo.com. This is Croak Asset Management and I will gladly link you up with the team.

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🎙️ I am also really excited about how quickly the podcast has grown. So thank all of you that have downloaded and given it a listen. We have climbed the charts very rapidly and we are currently ranked #6…For those of you that have not stopped by it is the Rich Habits podcast on Spotify and Apple. And please feel free to DM me or message on any platforms and let me know your thoughts and takeaways.

For all PAID community members please note that the private livestream is now being held on ZOOM and its awesome. It is scheduled every Thursday @ 7pm EST. This is so excited and will add so much more personal/community interactions. So buckle up and let’s have some fun.

💸 Inflation is in the news and what does it mean for us and the economy:

Here are the Top 5 takeaways:

1. Inflation has significantly cooled off recently offering hopeful news in the ongoing efforts by the Federal Reserve to control rapid price increases.

2. Consumer Price Index (CPI) increase: The CPI increased by 3 percent in the year through June, which is lower than the 4 percent increase observed in the year through May. This indicates a decline in inflationary pressures - yayyyy us!

3. Gas prices affecting overall inflation: The overall inflation rate is being pulled down by significant declines in gas prices. However, these price decreases may not be sustainable or long-lasting.

4. Core index shows better than expected results: The core index, which excludes food and fuel costs, experienced a smaller increase of 4.8 percent compared to the previous year, down from 5.3 percent in May. Economists had expected a 5% increase, making these results more favorable. What is the core index and what does it mean: (The Core Index refers to a measure of inflation that excludes volatile food and energy prices from the calculation. By removing these components, which can be subject to temporary price fluctuations, the Core Index provides a more stable and reliable indicator of underlying inflation trends.)

5. Slowest monthly price increase since August 2021: On a monthly basis, the core index climbed at the slowest pace since August 2021. This suggests a further slowdown in price increases and provides additional positive news regarding inflation control.

These takeaways indicate a positive trend of cooling inflation rates, which may alleviate concerns about the need for continued interest rate hikes by the Federal Reserve.

🚨 When is a good time to get started in Angel Investing - and what are the Top 5 benefits????? Platforms I use: AngelList.com and Gust.com

Deciding when to start angel investing depends on your individual financial situation, risk tolerance, and investment goals. My general rules of thumb is - I like to see individuals have $100K invested in traditional methods first prior to initiating more high-risk strategies. Example: Roth IRA (with a blended mix of ETFs), Treasury Bills, High Yield Savings and if available a 401K through your job.

1. Financial Stability: It is generally advisable to have a solid financial foundation before considering angel investing. This means having sufficient emergency savings, paying off high-interest debts, and meeting your essential financial obligations. Angel investing involves a high level of risk, and it's important to ensure that you are not jeopardizing your financial security by allocating funds to high-risk investments.

2. Investment Experience: Having some prior investment experience can be beneficial when getting into angel investing. Familiarity with investment principles, market dynamics, and due diligence processes can help you make informed decisions and mitigate risks. If you have a good understanding of investing fundamentals, it may be an opportune time to explore angel investing.

3. Diversification: Angel investing is considered a high-risk, high-reward investment strategy. It's crucial to have a well-diversified investment portfolio before considering angel investments. Diversification helps spread the risk across different asset classes and investment types, reducing the impact of any single investment's performance on your overall portfolio.

4. Network and Expertise: Building a network of experienced angel investors, entrepreneurs, and industry professionals can be highly valuable when starting angel investing. Having access to a network that provides deal flow, due diligence support, and mentorship can increase your chances of making successful investments. If you have developed a strong network and have access to expertise in the startup ecosystem, it may be an advantageous time to start angel investing. This takes time so don’t rush into things.

5. Long-Term Perspective: Angel investing typically involves long holding periods, as startups can take several years to mature and generate returns. Patience and a long-term investment horizon are essential. If you have the financial flexibility and patience to commit funds for an extended period without needing immediate liquidity, it may be a suitable time to explore angel investments.

Top 5 Benefits of Angel Investing:

1. Potential High Returns: Angel investing offers the potential for significant financial returns. Successful investments in early-stage startups can yield substantial profits, especially if the company experiences rapid growth or gets acquired by a larger company.

2. Access to Innovative Startups: Angel investing provides an opportunity to invest in innovative, early-stage companies that may disrupt industries or introduce groundbreaking technologies. It allows you to support and be part of the growth of promising startups.

3. Portfolio Diversification: Angel investing can be a way to diversify your investment portfolio beyond traditional asset classes such as stocks and bonds. By investing in startups, you add a different risk-return profile to your overall investment mix, potentially enhancing portfolio diversification.

4. Non-Financial Rewards: Beyond financial gains, angel investing can offer non-financial rewards. It allows you to contribute to the success of startups, support entrepreneurship, and mentor or advise founders based on your expertise and experience.

5. Learning Opportunities: Angel investing provides a valuable learning experience. It allows you to gain insights into various industries, understand the challenges faced by startups, and learn about emerging trends and technologies. It can be intellectually stimulating and broaden your knowledge and skills in the entrepreneurial space.

Remember that angel investing carries substantial risks, including the potential loss of your investment. It's crucial to thoroughly research and understand the risks associated with each investment opportunity and consider seeking guidance from professionals or joining an angel investor group to mitigate those risks. Another great benefit with Angel Investing once you are seasoned is that you can take more shots by writing smaller checks on more companies. You can get started with as little as $2500. So when you have your bases covered and are ready to get started do your homework and if you get stuck reach out to me.

🤔 BlackRock, Fidelity, Invesco and others refile - what does that mean and what do the experts on the street think???

So far Cathy Wood, Michael Saylor and Tim Draper have all responded in recent interviews giving their predictions. And the predictions are not surprising but still a little shocking. Predictions range from $100,000 - $250,000 range for the end of 2024. So in my opinion it’s DCA time ramping up to the Bitcoin halving next year.

ALERT: based on my question - What are the chances the Bitcoin ETFs get approved. I have had conversations with 3 people in the last week that are high-level executives in the crypto-investing field and all 3 gave their opinion that they believe the chances of approval in this round are 75-85%. So keep this top of mind because if this happens I believe we will see the biggest bull run in Bitcoin and Crypto since 2017.

So my key takeaways from recent news about BlackRock and Fidelity filings for Bitcoin spot ETFs are as follows:

1. Refiling Application: The Nasdaq exchange has refiled its application to list BlackRock's proposed bitcoin exchange-traded fund (ETF). This indicates that there were changes or updates required in the initial filing.

2. Surveillance-Sharing Agreement: U.S. securities regulators have reportedly provided feedback to applicants for spot bitcoin ETFs, stating that filings were "inadequate" without the inclusion of the partner's name in the surveillance-sharing agreement. This agreement is meant to help prevent market manipulation.

3. Coinbase as Surveillance Partner: To address the regulators' feedback, several pending applications, including BlackRock's and Fidelity's, have updated their filings to name Coinbase, a major U.S. cryptocurrency exchange, as the partner for the surveillance-sharing agreement. This implies that Coinbase will be monitored to prevent market manipulation in relation to the proposed bitcoin ETFs. Have you been watching COIN stock? Let’s goooo!

4. Requirement for Surveillance-Sharing Agreement: According to the U.S. Securities and Exchange Commission's (SEC) previous rulings, a sponsor of a bitcoin trust (such as an ETF) must establish a surveillance-sharing agreement with a regulated market of significant size. This requirement is crucial for obtaining regulatory approval for the ETF.

   So keep your eyes on the prize and follow the money!

👂👂 Why Personal Branding and eyeballs are so important in the digital and AI era!

Building your personal/business brand is important because you can have the best product, restaurant or law firm but if people can’t find you it wont matter!

Here are the top five benefits of building your personal/business brand:

1. Increased Opportunities: Having a strong personal brand attracts opportunities to you, including customers, clients, job offers, media appearances, writing opportunities, and speaking engagements. A powerful personal brand can make you visible and desirable to potential connections and collaborators.

2. Networking Power: A compelling personal brand makes you interesting and desirable to others, both online and in-person. It helps you attract new connections and build relationships with people who find you engaging and worth knowing. This can lead to valuable networking opportunities and potential business partnerships.

3. Business Growth: A powerful personal brand can drive the success of your business. When you have a strong personal brand, people are more likely to do business with your company because they trust and resonate with you. A leader with a killer personal brand can significantly influence the success of their company.

4. Job Opportunities: Employers increasingly use social media to evaluate potential candidates. A strong personal brand can differentiate you from other applicants and make you more appealing to hiring managers. Your personal brand showcases your expertise, interests, and personal qualities beyond what's on your resume, giving employers a more comprehensive understanding of who you are.

5. Personal Connections: Building a powerful personal brand can attract people who resonate with your brand values and interests. This can lead to forming personal connections and friendships with like-minded individuals. Having an attractive personal brand can help you connect with people on a deeper level and expand your social circle.

Remember, authenticity is crucial when building a personal brand. Being true to yourself and showcasing your unique voice and interests will resonate with others and contribute to the success of your brand.

Weekly Book Excerpt (“Far more money has been lost by Investors preparing for corrections or trying to anticipate corrections than has been lost in the corrections themselves” — Peter Lynch)

Bonus: Read his book: Beating the Street.

Ok so I have goosebumps after digging up this quote. Sound familiar? I say is a thousand times a month - “It’s not about timing the market, it’s about time in the market”. Time in the market and consistency are the greatest factors in your wealth building journey. So be consistent, make solid financial decisions, don’t worry about the Joneses and let compounding do its thing,.

Money Mindset - Weekly insights

I am so proud to announce my affiliation with Acorns. I know you all have heard me talk about this awesome platform for years but now I am officially working with them and I couldn’t be more excited. If you haven’t used Acorns yet its a must in your wealth building journey. Even if you use it just for the roundup feature.

How it works - You simply attach your bank account and set the rate of risk you want in your portfolio and Acorns does the rest by rounding up your daily purchases and investing those funds. It’s such a great investment tool because it is automated and just a few cents at a time. It’s like found money.

Brand of the month - Dun & Bradstreet

I am excited to add Dun & Bradstreet to my portfolio of companies that I proudly represent. A DUNS number is so important to the success of your small business. So if you have not applied for one please read up so you can understand the importance of it. Please use the provided link so you can check out all the amazing benefits for your company -

D&B link

Thanks for following along. See you soon!