Only times are when you can't easily replace the bitcoin right away, like liquidating for a big purchase or big down payment on something. Or you have to live off of it. That stings. And it should sting a little. It makes you a better money manager and saver.
Speaking of which, meeting with our money manager dude in May to discuss our finances, investments, and how I can use my existing BTC to allow for early retirement in late 2018. Partner will continue to work for a few more years.
A couple of things strike me. First, this is November. You are planning a meeting with your money manager for May?
I know that each of us is different; however, earlier you asserted to have around 1,000 coins, and you have other assets too. Sure, it can be good to meet with a money manager to discuss various options, but with anywhere near 1,000 coins, it would seem that you have a whole hell of a lot of "fuck you" money, and you even have extra "fuck you" money because half that level of coins, 500-ish, would cause for a whole hell-of-a-lot of options - especially if you have other assets, like you said.
I do understand that there is one dilemma that a lot of folks could have, and that is if you have a lot of time vested into some kind of JOB, and you don't necessarily want to leave that money on the table - so in that regard, if the timeline (of suffering in the JOB) is rather short, then it could make sense to be allow that to play out in order to be able to extract some value from that JOB. Sometimes, early retirement can also be an option, but yeah some of the JOB's have minimum age requirements too, so if you have anything approaching 20 or more years in a JOB, but you have to stay an additional year or two or something like that in order to be able to collect, then it could be worth spending that time,... rather than just opting for "fuck you" right away, and without delay.... gosh.. 1000 coins... does almost seem as if "fuck you" could be a dilemma and tempting to just employ "right away", but without knowing how much value is there, it might not be prudent to leave some money on the table, too.
I mentioned 500 coins, but there are even smaller amounts of coins that might be getting guys thinking in the same regard, without banking too much on continued actual upwards appreciation of BTC in order to fell comfortable with the BTC cash flow and even accounting for worse case scenarios and even making sure to be cashing out a bit of coins along the way, so that not every single bit of value in your portfolio is dependent upon BTC prices.
I'm torn on how to divest my BTC for this early retirement purpose. My partner is strongly suggesting I divest several millions in one chunk towards institutional investing - guaranteeing I have the cash on hand until I can draw down on retirement funds at age 65.
Sure that is an option.... which may be a bit more conservative than even you are willing to accept, yet if your partner is suggesting to divest 1/3 or 1/2 of your coins, then that is not really unreasonable, but you might consider attempting to negotiate down the amount to perhaps 25% of your coins.
By the way, are you the only one with bitcoins? Are you bitcoin's joint property either officially or unofficially? Sometimes we need to take the "advice" of others, especially if they have NOT taken much if any stake, with a considerable grain of salt.
I have a relative who I had gotten into bitcoin, and that relative got into bitcoin in a pretty conservative way, less than 1/10th my investment; however, that relative made several mistakes, had bouts of deviation from my "suggestions", but largely hung onto her bitcoins, and frequently would follow my suggestions to HODL, and various strategies to attempt to accumulate and cash out a few along the way.... In the end, that person does sometimes make suggestions to me, regarding my holdings - yet since my holdings remain more than 10x of her holdings, and even our difference seems to be getting greater - my holdings are growing more than hers so, any kind of suggestion that I should cash out more or divest more seems to be lacking in logic.. but at least it is a consideration.
We have had stupendous growth this year, so it is really nice to see that so many of us have these kinds of what we gonna do when we are "rich" "problems."
I'm thinking it may be more wise to sell "smaller chunks" of BTC to last me a year-at-a-time instead - owing to the increasing value of BTC/USD.
Will figure something out.
Probably some combination of both plans would be good.... and maybe instead of taking out 30% to 50%, you agree to just take out 10% or 15%, and then go yearly on the remainder? Either way, you have what we call "first world" problems.. or even perhaps approaching "problems of the 1%"
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