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March 06, 2018, 01:59:55 AM |
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My first dream was having 100k euros. That i just invest somewhere secure -> basic all world ETF stock market the next 30 years. Just so i have the 'save for old age' covered. Then i would stop saving 25% of my monthly income and have 25% more income to spend monthly.
Then my idea was that i want to sell when my bitcoin worth = my total wealth reaches 400k euros in total. This would mean with 6% interest (and 1% inflation) i would get the same amount of money per year as i do now from working + saving. (or you could also say: this yearly amount is bigger than my yearly expenses)
I like to live on a small foot, and this would give me something i value more: freedom from ever 'having' to work again. I never plan to stop working, but it would be nice never 'having' to work.
Then i thought better wait for a wealth of 500k, like the idea before + 100k to 'spend more freely' on stuff.
Then i thought 600 or 800k, just 'to be sure'.
Then i thought 1 million, so i can call myself a millionaire.
Then i thought 1.1 million, so i can still call myself a millionaire after i blew 100k.
Then i thought 1.3 million is also ok, perhaps i want to own a little place for living and work in the city.
Now, i basically want to wait for the next bubble to sell. And slowly start selling when i think there is exuberance. And slowly keep selling till i have no crypto left. And hopefully ultimately i somehow sold around the top with this strategy. And then after it crashes set buy orders. But in this process also cash out.
I was thinking buying stocks after the next stock market crash, thinking owning shares of companies is more secure than owning crypto. On the other hand, cryptos get more and more secure. Bitcoin gets more and more secure. More % chance of it staying.
Perhaps i just leave it in there and just try to sell some at every bubble. And give myself a certain kind of 'allowance' of money that i can spend.
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I want to have no kids, and i want to spend all the money in my lifetime. Hard to calculate of course, but that shall be the basis of my calculations.
Eg if i would be 40 years old, and i have 400k total worth, and i estimate i will be 100 years old. Let's say 400k for the last 20 years, that is 1666 euros per month (400k divided through 20years) + interest. And interest in the years before (6% interest - 1% inflation = 5%) also amounts to 1666euros per month.
ps whoever says exit strategy is dumb - it's just that hoarding money and never spending it is dumb - then life would be the same like you never had any money - i guess we can agree on that
So, i guess a better name for this whole thread is 'retirement strategy'
My thinking now is to put all my money into crypto - it being the asset class that i think gives the most return - until i am at my magic retirement number and then move into starting spending instead of saving.
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