Bitcoin Forum

OK guys and gals, I've 80 bitcoins (did have 410, but sold most to buy a house last September. Bad timing or what!)
Anyhoo, I'm sick of work and figure if bitcoins get to $15,000 I can retire.
When do you reckon that will happen?

Good job on having bought a house in September

You could buy a large pack of lollipops with the remaining once Bitcoin hits 1$ again

C'mon guys! Lets retire this poor guy!

Nobody can retire the coming decade(s), millionaires will soon see all their 'wealth' vanish into thin air just like how it was created. Bitcoin could go to $15,000 who knows but dollars won't make you able to retire anymore. Neither will gold, silver or Bitcoin. Actual skills, strong communities and knowledge will become the new highly valued assets, because they will be sorely needed for our future. People who have none of those will become the new poor class.

Unlikely to happen.

IF you are sick of work, it means you are in the wrong line of work. Find something that best fit your interest and talent.

80 Bitcoins

Now $450
You want $15k to retire

That's $1.2M profit on your current $36k (to put it into perspective 3333% gain needed)

And you are sick because you have waited a full year and already managed to buy a house (partially) using BTC.

LOL!!!!  ::)

I would be prepared to wait 5 years for 1M. Greed is a killer :)

Really?! So you can't be sick of work as a concept.

Bitcoin will never get above $500 again.

Human need a purpose to survive beside food and shelter.

And that purpose has to be work (I mean "work" where you get salary)?

I agree, there has to be a purpose.

If you don't put these bitcoins to work (https://bitcointalk.org/index.php?topic=766406.0), they won't help you to retire.

Get paid for something your love doing, and you'll never work a day in your life.

hell yeah you can!

I wasted so many years of my life chasing those fairy tales. Work pays because people don't want to do those things. People things enjoy doing happen for free.

I'm a living fairy tale then, I do what I love for a living and I enjoy doing it.

That's what I thought!  ;D

I believe you, but this is rare. What most people enjoy doing doesn't pay. I have certainly found this to be true for me and most of the people I have known in my life. However, cognitive dissonance does come into play for most people and they will lie to themselves that they enjoy doing what they have to do to ease the pain. It's a well studied psychological phenomena, not that it necessarily applies in your case.

Maybe next year, maybe never. Don't count on it!

I don't know where do you live but I don't think 1.2m$ is enough for retirement in anywhere. I would wait for at least 10 millions.

Often does not pay shit. Like I found my talent in knitting and enjoy it thoroughly, but to fully be myself I need to retire first :)

Become the best knitter in the world, and I promise you that you can make a good living by knitting. Of course it isn't just about doing something you love, you still have to put a lot of effort into it. If your work stinks, no on will pay for it no matter how much you loved making it.

I do nothing very well indeed, but unfortunately it doesn't pay very well ;)

You can retire for sure but you should live with your actual holdings for 10 years before reaching those values.

You don't need a house. You don't need a car. All you NEED in the modern world is rent, food and beer money (or whatever you spend your time doing). A million is plenty for that. I'm planning to travel the world on that budget in fact, and could (and probably will) do it for less.

It mostly depends on how one lives and what one does indeed, $1.2m is plenty of money. Would definitely be enough for me

There can only be one best knitter in the world, and that would be my mother! So perhaps, 
http://timeforplanb.org/sites/default/files/logo-1_sm_0.png

If you find the answer to this question give me a heads-up. If not, I'll just wait until it happens.

how about this ; your 80 bitcoins soon loose value, from cca 36k usd to 4k usd.
funny how every single one of you believes only that bitcoin will go up.
good luck, but i would dump and rebuy lower if i were you

cheers

15K is easily achievable in our lifetime.But do you have faith in it though to see it through 15k?

yes but that purpose is not working for the benefit of someone else.

I just changed the price. You should be able to sell them now.

Congrats on the house purchase. Hopefully you did your due diligence and got a damn good deal. I wouldn't start planning on retirement with those bitcoins just yet. I am a long term bull, but that's still not set in stone.

Same as OP, I sold my stash of coin to buy a house.  I sold steadily from June through August 2013.  :'(

Took a while to rebuild it to 60 BTC through mining altcoin, trading at 796 and betting.  Sold them all at 510

I really think BTC is still in a bear market.

You took it exactly out of my mouth.
Ohh yes, i have 80btc, time to retire, bring it on!

Even though I am personally long and bullish, I think this kind of mentality is foolish.

15k/coin could happen this year, maybe never, so don't count too much on it.

In the meantime, try doing something productive while waiting for your retirement : )

it's more than enough, if you don't spend money in useless things...

Yes I do have faith in bitcoin and do certainly believe it will hit 15k but when is the issue. I'm sick of my job now. I've no choice but to carry on working so like everybody else I'll grin and bear it. I could be a lot worse off.

If you didn't have the bitcoin would you continue on with a job you dislike forever? Hopefully not. Don't wait around for bitcoin to free you from your current situation - it may never happen. Start looking for a new job now.

It's more than enough depending where you are, but it probably won't afford the best retirement if you want to live in a metro area in an industrialized country.

I would want to retire too but my holdings are about 0.80 btc, I don't think it's enough...

I live in Denmark. One of the most expensive countries in the world. Several times more expensive than the states, to get that out of the way. A million buckos would be plenty for me for the rest of my life. Some people just don't handle money well s'all.

Some people don't need yachts or jacuzzies. I could very well retire with a million bucks cause I think too much luxury would be bad for me. It's strange that most of us are trained to believe that the best way of living a life is to exhaust this world's and society's ressources to the max!

+1

I've got 30 grand in BTC and 50 grand in a shitty savings account, no job and no house.  I'm dreading returning to the workforce but it's gotta be done.
I'm not quite 40 and even after 6 months of having a break from working, I'm still not bored... I never get board because he who is awake is constantly amazed.

Incoming WWIII?

if you have already the house you don't need all those money to retire seriously, i'm talking about the money needed to live a simple life, sustain taxes and food, not buying yatch big house with 30 pools, hookers and other crap

it doesn't matter where do you live, it matter more how you spend your money

Actually, it really does matter where you live. Compare the average cost of living of New York City or San Francisco, with that of Bucharest. This is why some people save up to retire to cheaper places......

Wise words!

I know how you feel. I wouldn't quite say dread but I've taken 9 months off from selling a few coins in November, and it's been a fine time indeed. However, reality is also calling me back to some pointless fiat money generating activity.

Really wouldn't even consider retiring even if you have a lot right now. Nobody knows how anything will turn out at the moment and it's just a waiting game to see if it will rise or drop again. It's always good to have some kind of income rather than relying on the bitcoins you have to live off after retirement.

do you guys think 1million usd is enough money to retire in thailand?

Depends how many ladyboys you hire per month. :D

Good luck i think within 3 years you'll be retired.

These two threads are also cool regarding early retirement and where to stay:

https://bitcointalk.org/index.php?topic=168650
https://bitcointalk.org/index.php?topic=354227

Nice, thanks!

Yeah sure buddy, you went from THE BEST KNITTER IN THE WORLD to "if your work stinks".

What if he is really good, but not THE BEST IN THE WORLD? Don't need to answer, i'll tell you: He will be a 9-5 drone.

Working is shit and im going insane, and i only have 1 BTC so the best I can do is cash out buy a glock and shot it in my temporal lobe. If you don't have luck or inherit (inherit) or have an insane talent for something (more luck) = you are fucked. Scam scam scam. Fuck this gay planet.

one could argue that 100M aren't enough, because he want to buy a stealth fighter to travel around the world

i still thing that the important things is how you use your money

That's the spirit. Man up.  :)

Funny thing is we are all the OP, so the OP's moon is 15000. My moon is anything above 4000. Have faith man, Satoshi is still holding his coins.

My purpose to survive is to have a good time.  PARTY!

let's just hope it does, but my question is what if it doesn't reach that  mark. What will you do then? Do you have a backup plan.? If not then you are in for one heck of a retirement.

You have an awful lot of trust in the dollar ;)

Well, retiring is something you can do if you *really, really, really* can live off of your interest you gain from your holdings. Otherwise I'd just go and keep my current day-to-day job and earn as much as possible and be financially safe and sound. Also you may end up being depressed and feel worthless if you retire too early... happens to a lot of people, actually!

I reckon you've done ok, dont worry about selling out too early but ont make the same mistake again, hold out for the big money!

In the mean time i'd try and find some work you really enjoy doing, start a business or something, you have to work until you die even if its managing your investments.

You should always have a backup plan. Just relying on BTC holdings isn't a very smart thing to be honest. Sure, BTC can go through the roof and make us all rich (if we don't both it somehow), but it sure isn't a safe bet!

How much your earn with interests/dividents/etc with your 80 BTC?

I guess nothing, right?

Then you have as many reasons to retire than someone with no savings.


You consider a retirement when what you get from your money is enough for you to survive without you losing the money you saved

In 5 to 10 years OP will be a millonaire, but chances are he will panic along the way and sell way before that day arrives. Sadly people aren't wired to hold long term.

my guess is you will need to wait at least 10 years to see bitcoin above $10,000
just continue with what you were doing or do something else and think about your coins getting more value every year.

1M is enough to retire in Medellin, Colombia

1mil is enough in most of US, providing a few simple conditions:

1. Your children are independent and DONT leach off of you.
2. ~50% of your expenses are covered by Social Sec-very reasonable to expect $1250-1400/mo for each (H+W)=$30000-34000/year for husband and wife nuclear family (kids would probably leave the nest by then). Therefore, you would need to provide just 18K-22K/year from that 1mil to match average family income in US, which is 52K. It is not a life of super abundance, but with mortage gone, it may be better than most expect. $18-22k is quite possible considering that SAFE withdrawal is supposed to be 4% or 25K for 1mil in savings
3. your home is paid off
4. your RE taxes are small or subsidized-true for many states (for 65 and above).

As a sad comment to above, the average 401K (typical retirement account) in US is 14 thou and average 401K of those 55-64 is 104K, so almost nobody will have that million.

Good plan, but I would probably invest a part of it and not use it just to do your groceries and whatnot. Probably buy a nice small property and rent it (asuming you already a paid home as you said in point 3).

Oh come on, even if there's a windfall of money enough for retirement, one could still use it earn back even more. Look at some of the richest billionaires, you haven't really seen any of them retiring just yet. What I'm trying to say here is that using you retirement fund you could travel around the world in a first class airline seat but given the choice, would you rather take a private jet, going around the world which would be even more better?

Well then, you better get a job.

On thursday. 

I think you toked too much of that weed tokeweed  ;D

1 million is enough, i dont know what kinda lives you guys live, its only not enough if you become completely unproductive and sit a on a beach, i guess that could be the definition of retire but i'll never do nothing, being productive is too much fun, even if that means growing your own food.

Being productive is usually working in something you don't like. Leissure time is fun and is not "doing nothing" by definition.