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It might be o.k.
I have been relatively frugal all of my life, even while my standard of living did increase, so there might be some difficulties to adapt - as compared with either growing up rich or even becoming rich in your 20s, then you might be able to really adapt by the time you are in your 40s. In my case, I am older than that. I already had more than 30 years of investing and becoming more and more rich with a kind of exponential growth that came with bitcoin and seems to have decent chances of continuing in the coming 3-5 years or perhaps less, as we all kind of expect a bit of a boom and perhaps even another blow-off top to happen no later than the end of 2021, but likely sooner than that.
Same here, I am well off without Bitcoin and have a good standard of living. It is good to have acquired this by myself, which let's you know what you are capable of.
I don't know if I really feel comfortable taking a lot of credit for the situation - because before bitcoin, I was already heading for a kind of comfort level and even early retirement based on what I had already built - but at the same time, I was understanding that when I was going to go into that kind of early retirement, I was going to continue to have to act frugally in order to really be able to maintain financial cushions and just to maintain my standard of living while knowing that many people go into retirement on a kind of fixed income that ends up NOT really keeping up with inflation.
I also had a retirement fund (a kind of 401k) that I had considered to be pretty damned decent as a reserve, but in late 2013, I was going to have to find other investment vehicles because I was no longer going to be contributing to that particular fund, so it would just sit there in a tax free status and also to hopefully grow somewhat in value based on various investment options that I had with those funds. So, in late 2013, I started investing in bitcoin as a kind of way to possibly supplement my 401k, as a kind of option that was not absolutely necessary for my survival, but I had a kind of preference that if my BTC investment could at least average around 5-6% per year, over several years, then at least the bitcoin investment would be performing on a very similar level as the historical performance of the 401k. We saw what happened in 2014 and 2015 and during that time, my investment into bitcoin was mostly negative during that time, yet by early 2016, I was feeling a kind of close to breaking even level of BTC performance, and surely by late 2016, I was definitely feeling that my investment in BTC was averaging greater than 6% per year, and it was outperforming my 401k. By early 2017, matters got even better, and only a few years of BTC investment was actually getting close to reaching parity with my 15 or so years of 401k investment, and geez with a bit more passage of time, I was seeing BTC to become equal in value to all of m investments combined (and had surpassed the value of my 401k)...
So, I think in part what I am saying that my BTC investment seemed to have largely been a product of my having had already accumulated a decent amount of capital before I had invested into BTC, so when the opportunity came along, I was not desperate at all and I just put a decent amount of that available capital into BTC. When I was younger I would not have had that kind of capital available, so I have some difficulties really speculating about what my younger self would have done.. and maybe I would have ended up playing the matter in a quite less prosperous way? If I were to have had the option as a younger me?
As you say I am in not too young either, having Bitcoin will help me get to the point where you don't have to work ever... (even though I will continue to work).
Actually, it seems to me that having the option to work or not has a decent amount of empowerment. But then there comes a certain point in time in which a guy might choose to hardly work at all because it is not worth it.... Part of the matter depends on if a guy has some other ways to consider self-fulfilling ways to spend time, that might become way more tempting than either the obligations of work or the feeling of the status that provides. On the other hand, surely there can be certain kinds of work that really don't seem like work, even though they do end up bringing in money and there can be decent satisfaction of knowing that you don't really need that money, but you are not inclined to deny the income - and may even decide on dedicating some of the extra funds to philanthrope or something like that just for shits and giggles.
Getting filthy rich in your 20s is not good because you have never learnt what the value of money is. Chances would be that you have blown all your money before you are 40.
Yeah.. I am not really sure. There are likely some younger people who can handle that filthy rich status quite well. I would not have minded having the opportunity, but I had always kind of structured my life activities in a way that I was NOT really pursuing getting rich quick or anything like that (even though I knew a lot of people who were constantly pursuing such, and that did not really seem to be my inclination). I tended to take conservative and slow investment approaches, but I suppose if I had gotten such opportunity to get rich quicker or even if I had something like bitcoin that had allowed incremental and self-directed investing, I might have gotten into something like that and ended up taking a quite different path in life.
I have never been a blow all my money kind of a guy, and I am thinking that I would have still been able to figure out something that would have merely caused me to get rich quicker (than I had been with my traditional investments) had bitcoin been available to me during my youth... but who knows for sure? maybe I would have turned into a blow all my money kind of guy like you suggested to be the tendency of younger peeps?
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