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Konnected Minds Podcast with Derrick Abaitey
Segment: 'We Are Not Too Late' - Why Digital Assets Are Your Path to Generational Wealth
00:09:02
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- [00:00]
A
We will see Bitcoin hit $1 million in the next 10 years. I have always wondered, for the individuals who feel like they are priced out, what opportunity do they have to create generational wealth? And I waited all of my life diligently searching for the answer. And in 2016, I stumbled upon it there. The answer is bitcoin. Our people need to have exposure to digital assets. It's just so important. If they keep their money saved in cash, it loses value every single year.
- [00:45]
B
What is your plan for me?
- [00:47]
A
My simple answer for you is, are.
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B
We too late to invest in bitcoin?
- [00:52]
A
We are not late.
- [00:54]
B
I wanted you to give me top five digital assets.
- [00:57]
A
I would say 70% Bitcoin, y 20% Ethereum. The 10%. Podcast.
- [01:13]
B
My name is Derek Abite and I'd like to welcome you. If you've been watching and listening, I'd like to let you know that from today you can go on Apple podcast, Spotify and search Connected Minds Podcast. And you can listen to our podcast when you're driving, going to work, when you're at a gym, or when you're going for a walk. The podcast is everywhere or any platform that you listen to your music on. You can also have Connected Minds podcast on. My guest today is an investing tutor. That's what people know him on social media. Dr. Hans is my guest and he's going to talk to us about digital asset classes specifically. He loves digital bitcoin and he's in Ghana today. So we're linked up to have a conversation. So for the people who are looking to build wealth, looking for means that over time you can grow your money. This is a conversation for you. This man is also a pharmacist who's quit to teach people how to build wealth. So he's a friend of mine. We're both pharmacists, but we're not going.
- [02:13]
A
To talk about pharmacy.
- [02:14]
B
We're talking about money. But welcome to my studio. Dr. Hans, how are you?
- [02:17]
A
Very, very well. Thank you for having me.
- [02:20]
B
Yeah. And you're welcome to Ghana.
- [02:22]
A
Thank you. Yeah.
- [02:23]
B
I love what you're wearing, man.
- [02:24]
A
You are.
- [02:24]
B
You are representing always.
- [02:27]
A
Yeah. All the time. Yeah. I would say almost 90 to 95% of my clothing are Ghanaian kaftans.
- [02:34]
B
Love it, love it, love it. So how would you describe what you do?
- [02:37]
A
I'll describe it as financial liberation. It's interesting, as you said that the idea or the story of Moses kind of comes to my heart. Yeah. People are in captivity financially. They don't realize it. And I'm just here to set them free.
- [02:57]
B
How did that journey start?
- [03:01]
A
Took a deep breath because it's been a long, long journey. Mom wanted me to be a doctor. Her idea of that was because she's like, oh, Hans, you care about people. I was a little boy who, if someone got hurt, I'll stop playing and go and attend to them. So she saw that as, you know, that kind of caring. And also financially, she's like, oh, they make money, so my son will be a doctor. I'll say, you know, after uni, I was looking at, or during uni, I was looking at the different areas of healthcare or if I could say, the doctorate degrees out there to see which one more aligns with my personality. And I was drawn to pharmacy. And the reason I was drawn to pharmacy was because a pharmacist is a health professional who is accessible. You don't need to schedule an appointment to go talk to a pharmacist. You can walk into any pharmacy and get instant access. And also that individual can listen to you and be able to understand, okay, what over the counter medication would be appropriate. Even sometimes now with clinical pharmacies, they can understand what prescription medications would be ideal for someone. So that access and also someone who's very knowledgeable in a particular subject area, I was drawn to it. So that's what kind of led me into pharmacy. Long story short, I was pursuing this path. I got actually a clinical pharmacist role, even though I had a heart for business. So I pursued a path of distinction, mba. I ended up in a clinical pharmacist role. During that time, I was running the investing tutor part time and then clinical pharmacist full time. And I believe that that was the best, best of both worlds. Earning six figures as a pharmacist and just a little bit of money, to be exact, $20,000 running investing tutor part time. At that time, I had my plan that I'll juggle both. But I believe God had other plans because overnight things changed. My director, someone who actually hired me and someone I was close with, just turned against me and was eager to get me removed from that position. So it was right around that time that I made the personal decision that, you know what, let me take a leap of faith. If this side business that is earning me about 20,000 a year, but I focus on it about three to four hours a day, if I could focus on that business 12 hours a day, what would be the result of it? And that's what led me to take that leap of faith. I'll never forget. I came home, the company I was working with, the hospital, they had offered me a transfer to a different pharmacy because they could tell that the relationship with the director wasn't ideal and they wanted to make amends. And they asked me, hey, would you like to transfer? I told them, no. Remember going home? And my wife was like, so which hospital are you being transferred to? I told her, I'm going to work on this business, and I'll never forget. A tear just dropped down her face. She didn't say, don't do it, because she knows her husband. Once his decision is made, it's made by the tear. And it's not because she was against that route. But as you know from your experience with entrepreneurship, there's no guaranteed paycheck. There's no guaranteed deposit of money in your bank account. You have to go out there, provide value to the world, and no one knows how long that is going to take for you to begin to see the results. That's a little bit about how I ended up diving into financial education.
- [07:02]
B
The part I want to know is what led you to actually start investing? To you?
- [07:08]
A
Yes. A close friend of mine called me. He told me that his sister is in deep fear and she has anxiety. And I asked her why. He said, hans, her student loans gives her anxiety. And at that time, I had been studying the financial markets for about, let's call it, 10 years. And I said, why is she worried about student loans? Anyone who understands the US Financial market will understand that a student loan is the best, best debt to have in America. Very controversial statement, but it's factual. Many people didn't believe me when I was saying this. In 2016-2017-2018-2019, then Covid hit and they paused student loan payments for three years. The only debt that was paused for three years. People had to pay their mortgage, people had to pay their credit cards, people had to pay their car bills. Student loan was paused for three years. That's even a minor fraction of why it's better than any other debt. But I don't want to kind of go a side tangent. So I told my best friend, let me speak to her. I got on the phone with her. I told her, do you know that there are 13 different repayment options for student loans? Call this the loan service provider and pick one that fits your financial budget.
- [08:28]
B
Right.
- [08:29]
A
Two seconds are usual. Hans, I'm so scared. I don't think I can even get married. I don't think I can buy a house because it stresses her out the thought of having student loans. I told them, I'm certain, call them. She called, they put her on a payment plan for her student loans where she's only paying. And this is very quite common for those who know about it. You pay 10% of your income on the loan, and after about 10 years or so, it's forgiven. Connected Minds Podcast.