Dec 27, 2021
This week's Coin Stories features Financial Advisor and Bone Fide Wealth Founder Doug Boneparth
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Bio sourced from BonefideWealth.com:
For more than a decade, Douglas A. Boneparth has helped his clients negotiate sales of businesses; establish legacies for future generations; purchase new homes; pay off debt and achieve financial independence. But while servicing the needs of his diverse book of business, he noticed a gaping hole in the financial services industry: financial planning and advice for Millennials, his peers. So while everyone else was chasing old money to invest, Douglas started finding young people to invest in.
With a passion to improve the financial lives of those around him, Douglas founded Bone Fide Wealth, a firm dedicated to providing both effective and relatable advice to the city’s hardest working young professionals. Through his personal experiences with student debt, higher education, career development, professional achievement and entrepreneurship, Douglas shares a perspective that very few financial advisors in the industry can. Douglas then draws upon the real life examples of his firm’s clientele, offering financial solutions that are as creative as they are practical.
You can follow Doug on Twitter at @DougBoneparth
00:00 Intro and Discount Promos
1:54 Doug background and upbringing
4:36 Early lessons learned about money
6:21 Becoming a financial planner
9:37 Working and living at home after college
13:40 Chasing dreams in NYC
17:45 Lessons from ’08 Financial Crisis
20:45 Focusing on Millennials
26:18 Top performing Millennials
30:03 Why do we need financial planners?
33:58 Biggest mistake Millennials make
35:30 Looking at your financial behavior
37:52 Discovering Bitcoin
40:41 Post mining Bitcoin
42:34 Bitcoin rabbit hole & Investing
48:56 Bitcoin allocation
52:21 Can BTC be Global Reserve Asset?
53:40 Will the market crash?
56:05 Doug’s Twitter Humor