Today's figure
73
When required minimum distributions generally start
The tax deferral was a loan from Congress. In your 70s they want a schedule. Knowing the year beats a January letter that feels like a pop quiz.
SECURE 2.0 RMD age
Morning list
Get the briefing
Same note as the home page — today's figure, today's note, and a line from someone who already made the money mistakes. Pick how often it shows up.
In the note
What lands today
BitcoinToday
A $20 purchase with a $3 fee is not stacking. It is a donation.
Spreads, network fees, and 'instant' ramps quietly tax small, frequent buys. The protocol is cheap at scale. The on-ramps are not. Batching, a regular ACH, or an ETF can be the grown-up version of the same habit.
Why it matters
Fee drag is not ideological. It is arithmetic. A 10% friction on every ticket will outrun a lot of narratives.
Try this today
Look up the last three Bitcoin buys. If fees were more than 1% of the ticket, raise the amount and lower the frequency until the fee is a rounding error.
Ideas on this note
Today's line
“The big money is not in the buying and the selling, but in the waiting.”
Charlie Munger
Investor
Activity feels like work. Compounding is mostly leaving a good decision alone.
A published line, kept because it is useful. Not a recommendation.