Get Rich Once, AI Friends, Let Twitter Die, Weirdest Roadside Attractions, Chase Sapphire Lounges

Another TBB post featuring the most eclectic links around the web such as how to get rich once, confusing AI friends, we must let Twitter die, fifty weirdest roadside attractions, a review of Chase Sapphire lounges, warnings about private markets, a deep dive on bitcoin, visiting Solomon Islands and Grimsey and of course always all of the most important developments in the crazy world of miles and points at the lower half of the post. Enjoy the weekend!

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This blog started way back in 2012 focusing on my crazy hobby addiction of traveling with frequent flyer miles, hotel and bank points. It has since evolved to curated posts featuring the best web content along with my commentary.

This is a one man labor of love operation, enjoy it while it lasts.

 

BLOG HOUSEKEEPING

My kids convinced me to do a blog redesign in 2025.Time to retire this logo and get a new one. Feel free to help me with any logo ideas/samples dear readers, I will really appreciate it.

Next week I will have another Best of 2024 Lists post with another ten links, most likely coming on Monday. In addition to the Friday post.

Today’s post is intentionally smaller. Because, you know, holidays and all.

 

PERSONAL FINANCE

Thanks to Jason Zweig at the Wall Street Journal sounding the alarm how Wall Street is about to attack investors’ pockets again: You’re Invited to Wall Street’s Private Party. Say You’re Busy. Small-time investors may soon gain easier access to so-called private markets. That usually means higher fees, greater risk, more conflicts of interest and a harder time selling.

Hedge funds, venture capital, private-equity funds, nontraded real estate, private credit and other alternatives hold out the hope of better diversification and higher returns. All too often, those potential virtues come at the cost of higher fees, greater risk, more conflicts of interest and less disclosure. And you can generally sell only at certain times, not whenever you feel like it. [Not worth it, be careful out there!]

Financial advisers might tell you that you need to buy alternative assets because public stocks and bonds are overpriced and doomed to provide years of poor returns. [Don’t buy it (pun intended)]

On the other hand, expenses on alternative funds, often 2% annually, can range up to 6% or more. Commissions, often 2% to 5%, can sometimes even exceed 10%. [You know what they say about incentives smh…]

The author lists a series of articles he has worked on about alternative assets and what you will read will shock you. Actually, some of the examples I have referenced in my blog here in the past.

Look, as you become more wealthy you don’t really need fancier investments ok? Don’t let the media and this highly conflicted industry convince you otherwise. Keep it simple and low cost, it works without the anxiety and loss of peace of mind.

There is a saying that goes something like “it is not what you make but what you keep”. Meaning it is so hard to hold on to your wealth once you “make it”. You should consider taking chips off the table if you have won the game. Try not to get sucked in to the euphoria and control your animal greedy desires to keep hitting it out of the park. Easier said than done of course, over confidence is a powerful condition. You Only Have to Get Rich Once.

…money easily made is easily lost, and the only thing worse than not making life-changing money is losing the life-changing money that you just made.

Investment decisions shouldn’t just be viewed as “numbers on a screen.” The risk-reward dynamic changes rapidly as the value of your portfolio increases, and you should consider what those dollars represent in your life: A home, a car, an earlier retirement, more trips with your kids, or the ability to sleep well at night knowing that you have a lucrative nest egg. At some point, we all have a number where the risk no longer makes sense. If you’re already rich, and you keep swinging anyway, you might suffer a loss that, 24 years later, you still haven’t fully recovered.

 

George