Say you have $1,000,000 in cash. Here is what inflation does to its real purchasing power in 20 years: • At 2% inflation: $673,000 • At 3% inflation: $554,000 • At 4% inflation: $456,000 • At 5% inflation: $377,000 Cash in a vault is guaranteed value destruction. Now, say you invest that $1,000,000 for 20 years. Here is the nominal value: • S&P 500 (~10% avg return): $6,727,500 • Real Estate / REITs (~7.5% avg return): $4,247,850 • U.S. Bonds (~4.5% yield): $2,411,700 • Bitcoin (assuming a conservative, matured ~15% pace): $16,366,500 Yeah, asset returns fluctuate and past performance is never guaranteed. But with endless money printing and currency debasement, one thing is certain: Cash is the only asset guaranteed to bleed.(Lark Davis)