Everyone has a slightly different method for becoming financially free, based on their personality, skill-sets and appetite for risk.
I haven't come across many other BTC enthusiasts though that are using Bitcoin to become financially free, so I thought it might be interesting to share what I'm doing.
My plan, simply put is:
- Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
- Wait for that investment to grow by 5-10x
- Pull out my profit and invest into residential property
- Live off the rental income (passive income will be £100,000 / $120,000 p/a)
That’s if it goes according to the plan I’ve detailed here: https://youtu.be/SiYc6ipKefQ Some may perceive my plan as extremely reckless.
I know I could potentially lose everything that I invest, but I’m prepared to take that risk, because in my mind the potential reward outweighs the potential risk.
If Bitcoin goes to 0, then it will be a major setback. It won’t ruin me, but it will take me two years to save up that money again (saving £50k from my £75k post tax income).
If it pays off, my route to financial freedom will be LIGHT YEARS faster than I could ever expect from property, gold, bonds, or investing in the stock market as a whole.
Although I fully understand the risk involved, I don’t see this as a gamble. I truly believe in Bitcoin as a technology. I’m willing to bet on something that I believe will have a positive impact on the world going into the future.
If I’m wrong, I’m wrong. That’s it. Start again.
But if I’m right, my life will change.
That’s really just a brief summary of my investment strategy (there is actually a bit more to it) - I’ve created a video, also linked to above, with a clearer explanation here:
https://youtu.be/SiYc6ipKefQ It would be interesting to hear if anyone is doing anything similar to this, and what peoples' thoughts are.
This is a great plan indeed for someone like you who can use that large amount of money to invest, its a big risk but i am sure its worth it, as for me if i have 120k i won't bother to invest it all in bitcoin, way too much and can't take the risk, infact i can have a good life with that amount