$6,666 per month is $80k per year. Of course, I am using that as a kind of entry-level, and I might have to change it later, but I think that it is good enough for now. Prior to March 2020, I was using $3,333, which would have been $40k per year, so I doubled it, and yeah, maybe the $40k was also low, but it is somewhat considered what we used to aspire to become.. millionnaire status, and yeah now millionaire status is $2million, but I think it would be too crazy and out of touch to start to try to suggest that average normies should conclude that the minimum they need is $10 million status.
Another thing is that anyone who is getting largely passive income (absent just keeping track of the accounting) should consider that to be quite liberating as compared to having to maintain a job, yeah sure anyone who does not have a job is going to have more time to spend money, but merely having more time does not necessarily mean that the person has to spend more money, so they should be able to get some kind of grasp if they had an $70k to $80k level job at the time of pulling the fuck you lever, then they already know how to live on $70k to $80k, and yeah if they feel that they need more of a cushion than they can do that... even though surely I think that BTC's historical CAGR and likely continued CAGR is way more liberating than some folks might assume, especially if they measure it in reasonable ways (such as using the 200 WMA - rather than getting too much distracted into the noise of greatly volatile BTC spot prices - even though surely they will be selling whatever their BTC at s[pot price, but that is also likely to be liberating since they are likely going to have cushions beyond what preferably would be their 200-WMA value measuring stick).
Of course, when used as an add-on, it would provide a boost, but i don't think many on WO would agree that it is a sweet deal after many years of ups and downs.
Yeah, if you have a higher starting point, then do what you like.
There are also guys who think that they are rich as fuck with ONLY 1/10th the amount which under traditional systems would be a $200k principle and a $666 monthly withdrawal authorization (and yeah with bitcoin they can achieve that $666 per month with even lower levels of principle like I mentioned either $80k if using 10% per year withdrawal rate and $67k if using a 12% withdrawal rate.
Come on Biodom, go with the flow, and stop quibbling about those kinds of discretionary matters that guys should be able to figure out, and yeah, I don't know what your numbers are, but you may well be causing your lil selfie to work way more years than you need to because you neither recognize/appreciate the power of bitcoin's CAGR and/or its likelihood of continuing to provide such power, even if you are trying to keep some reasonable level of cushion.. . .and yeah, I am already starting to argue that 20-ish BTC is enough to get to fuck you status.. which has to feel good for some folks, but they still have to figure out how to properly calculate it.. and subsequently how to manage their withdrawals including that if they might be nervous they might ease into their withdraws since there is going to be potential variance in how much they would be able to withdraw that goes beyond their needs in times that BTC's spot price is way above the 200-WMA, and there might be preferences (but not necessarily mandatory) of more frugality once the BTC price is below 25% above the 200-WMA.
So spending btc may happen for us.
Don't kid yourself. You don't hardly have any BTC to spend because you have been spending it all along.
Sure, I am not going to blame you now for wanting to spend it, since you should already be in the spending phase of your life... so you likely just have to figure out which things to spend first and why, and likely if you have other sources, of income that are sufficient, then you save the BTC for the last (or the least of your spending). In other words, it is way the fuck better to be getting your $2k per month from your 401k then to draw if from bitcoin.. by the way $2k per month is about a $600k 401k (if you are spending around 4%), adnd cif you spend that at around 4%, you should be alble to spend that forever, even though the dollar is going to be worth less and less and less, but your principle should largely stay at or more $600k so that you can continue to spend $2k per month.
In regards to drawing on bitcoin, there are way more creative ways to be able to draw more as long as you calculate it right, and you should be able to draw 10% to 12% and to still more than maintain its dollar value. ... but yeah, sure you have to get it up to a certain amount, so I don't want to give financial advices but $600k in bitcoin (valued at its 200-WMA valuation) is probably more than 4x more power than the same investment in traditional investments. ..
Of course, you have to figure out what you want to do an how you want to allocate to make sure your bitcoin are in such a good state, if all that you need is $2k per month income off of BTC, then right now likely could have right around 7 BTC as your starting point for that.. which would be a 12% withdrawal rate.. so long as the BTC price is at least 25% higher than the 200WMA. If the BTC spot price is at lower amounts then either you do not withdraw or you withdraw at a lower rate as I describe in
my sustainable withdrawal tool.
powered by bitmover.. of course, you are still responsible for figuring out the details and the applicability of how to apply these kinds of ideas to youor situation.
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