Ep. 8 The Power of Diversification with Seneca Pena-Collazo

Wealth Science

Understanding discretionary income may have to be the very first step to take if you want to dabble into passive income. And that's something Seneca was able to diversify into multiple income streams like real estate, car rentals, and crypto. Listening to his story may just be your eye-opener to the many possibilities your extra income can achieve. In this episode of Wealth Science Podcast, Seneca Pena-Collazo explains how he got immersed in real estate, why crypto is not all just about appreciation, why you shouldn't be sleeping on Tiktok, and how setting conditions early help you scale more quickly.

Listen to how one bounces back from a corona crash in this episode of Wealth Science with guest Seneca Pena-Collazo!

When Random Coins Come Out of Nowhere – Be Smart!

As per Statista, today, there are nearly over 6,000 cryptocurrencies available on the market compared to just the handful of pioneers that existed in early 2013. However, the site also notes that 'a large portion of these cryptocurrencies might not be that significant' compared to the major ones that today's generation invests in. For Seneca, these coins will only continue to grow in variety. And when you have random altcoins coming out of thin air, one needs to be critical.

To be critical when it comes to altcoins or alternative coins, an investor needs to know how to study a crypto coin the same way stocks are analyzed. For one, you can use fundamental analysis on a coin. From there, you can determine whether the currency is undervalued or overvalued as an asset. You can also technically analyze a coin using charting patterns, statistical indicators, or both. Another way is sentimental analysis. By observing the participants' overall attitudes, you can understand the amount of hype or fear surrounding a specific cryptocurrency and how it will help inform and influence price movements.

Find out what analysis Seneca Pena-Collazo used at the beginning in this episode of Wealth Science!

About Seneca Pena-Collazo:

Seneca Pena-Collazo is an experienced officer with a demonstrated history of working in the military industry. He's skilled in strategy development, leader development, intelligence analysis, government, advertising, event management, and operational planning. Seneca has strong military and protective services and is a professional with Masters degrees in national security studies, international relations, and human resource management.

Outline of the Episode:

[02:50] Seneca Pena-Collazo – I just needed to get out of this credit card debt

[04:50] That's where the bug bit me

[09:23] Be careful what you put out to the universe!

[14:38] Started with single-family then scaling up…

[19:28] Seneca Pena-Collazo – on getting into rental cars

[24:19] What gave birth to cryptocurrencies?

[27:49] What if you put your money into a savings account vs. crypto

[35:40] How do you analyze coins that aren't as mainstream as bitcoin?

[40:02] Seneca Pena-Collazo – side hustles for a godson

[44:44] How powerful is family support?

Resources:

LinkedIn | Anthony Pinto

Connect with your host Jesse Futia on:

LinkedIn | Jesse Futia

Facebook | jesse.futia

Twitter | @FutiaJesse

[e-mail]

Don't forget to connect with Wealth Science on LinkedIn

Interested in learning more about passively investing in real estate? Click here!

Want to get all the updates on the Wealth Science podcast? Click here to join our newsletter!