It's a Crypto Bonanza today we we discuss the new Clarity Act and how it impacts digital currencies. We also chat about the emotional and financial rollercoaster of buying a home in today’s market, as Kirk shares about falling in love with a house—only to walk away after discovering many issues the sellers failed to disclose. We talk about how the cost to buy is now far above the cost to rent in many areasb and how sellers are increasingly unwilling to drop prices—even as supply builds and interest rates stay high. We also dig into how real estate, while deeply emotional, ultimately comes down to math, and why renting may still make more sense... Today we discuss...
- The cost to buy a home is currently much higher than the cost to rent, especially in higher-priced markets.
- Emotional attachment often causes sellers to keep unrealistic home prices despite market shifts.
- Many markets are seeing a growing supply of homes and longer times on market, leading to price pressures.
- Real estate equity is a major source of wealth but is difficult to access without selling or borrowing.
- Sellers tend to suppress or avoid disclosing problems to preserve home value, increasing risk for buyers.
- Inflation-adjusted home prices show 2025 prices are very high, but official inflation numbers may understate true inflation.
- Buying a home is often an emotional and personal decision rather than a purely financial investment.
- Renting can be mathematically cheaper, but many still desire homeownership for personal reasons.
- The Clarity Act aims to define regulatory authority over digital assets between the CFTC and SEC, though it hasn’t passed yet.
- Regulation is viewed positively if it prevents fraud without overly restricting innovation in crypto.
- The banking sector may resist crypto innovation due to potential threats to their traditional business models.
- Concerns were expressed about government overreach via CBDCs that could control or monitor personal spending.
- Despite risks, the government already has many tools to combat financial crime without needing intrusive surveillance.
- Bitcoin and Ethereum prices have risen recently, prompting some profit-taking but maintaining belief in long-term value.
- MicroStrategy pivoted to Bitcoin investment after years of flat or breakeven performance, using debt and financial engineering to buy more Bitcoin.
- The history of MicroStrategy’s CEO includes a past SEC investigation and company struggles before embracing Bitcoin.
- The line between genius and stupidity can sometimes be just dumb luck.
- MicroStrategy’s strategy resembles a Ponzi scheme by relying on new money to pay returns and leveraging debt to buy Bitcoin.
- If Bitcoin crashes, the company faces margin calls and financial stress due to heavy debt.
"Cash is not trash... Cash is King" - Kirk Chisholm
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Today's Guest: Kirk Chisholm
Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.
Kirk developed a unique philosophy for the wealth management industry called Risk Management First. The medical field has a similar way of thinking of “first do no harm”. This philosophy focuses on risk management for clients in all aspects of their lives in ways the industry does not address. Risk management does not stop with investments. It also requires working closely with other professionals to address areas of their financial lives not currently being met.
In 2008, Kirk co-founded Innovative Advisory Group to address the needs not being addressed by the wealth management industry. It started with specializing in alternative assets held in retirement accounts (i.e. self directed IRAs/401ks). Then the company expanded into the specialization of college funding (i.e. planning, strategy, and paying the least possible for a high quality education), Risk Management First, exit planning for business owners, advanced planning (estate, tax, etc), and providing practice management and leadership training to other financial advisors, accountants and attorneys.
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Today's Panelists
- Kirk Chisholm | Innovative Wealth
- Douglas Heagren | Pro College Planners