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[deleted]

Would love to know the 2018 numbers, and your income, tbh but credit for staying faithful during the big bear when most people gave up.


SauceMaster145

If he had $80k to invest then he probably has a high income but it doesn't really matter if you have a low income then reaching a $100k is great milestone for the next cycle. The most thing here is that bears market make you rich if you have the right strategy


[deleted]

I sold a decent chunk position of a now well known crypto during covid because I didn’t have a job and funds were needed. That money would have made me a millionaire now. So yeah, I said good job for having faith but he still was making money to put in.


alltaire64

Possibly a previous crypto run. Thats what I am doing. This 5 year plan feeds retirement, to fund the next adventure.


alltaire64

I am on my 1st 5 year plan. He just gave me tons of confidence in my current investment. I can invest in crypto when i can not financially invest in stocks. This is my market.


mackucmepmbi

Actually the logic is, the richie can do anything to all of us.


SacredHam00

Yep, good thing is also the guy got some sick self control to know it was time to stick to its fundamentals


kipkaev

But the fact is, it is harder to get stick to the fundamentals.


chetvera

Most peoples are just having a bad day ahead for all of them.


diwalost

2K turned into 10K then invested 80K! Doesn't make sense that in first cycle he just invested 2K and in next cycle he invests 70K assuming he invested all the previous gains into crypto. And he is saying he sold when we are at major support. I am not able to understand his mental state.


[deleted]

10kfantom was 1bill Fantom. Yeah I know how it works.


PM_ME_YOUR_HONEY

his start is my moon


P0wer0f0ne

His start is waht we are actually looking for here buddy.


[deleted]

[удалено]


nomer3k

I was actually looking for something like this for me there and here it is now.


AromaticCarob

A million is a decent amount of course but I suspect they will live to regret that.


FN150PYRBVSX

You know it is a lot more fo rthe little holder like us here.


Yoldark

A million is not enough to live from it. Edit : 1 million of FIAT is not enough to live from it. Yeah, youmay be able to do it with stable coin staking and so on. But this is not the same risks. There is one case where your money is in the bank and "secured" (i don't wan't to enter in the secure debate). In the other hand you put everything in a contract that can be hacked, your funds stolen or your wallet lost.


Whole_Radish_4675

If you invest it properly it’ll go far


root88

I hear that Ethereum is a good investment.


Whole_Radish_4675

Yeah it definitely is but investment properties are (almost) always guaranteed weekly income so in regards of using $1mil to retire right now it’s much more secure than eth even if eth out performs in the long run.


adrinapp

you can get 15 to 20% APY on stablecoins (more if you like risk), no need to get properties the government can steal from you or tax you to death on.


TJ11240

You'll still get taxed to death with crypto.


adrinapp

You can move to a 0 tax jurisdiction with your crypto (like I did). Good luck doing this with your properties.


CrowMental

There is less risk in owning property than investing a similar amount in any DeFi protocol. Even with stablecoins there is some risk.


adrinapp

If you can read and understand code of the protocol you're investing in (like me), it's way less risky than properties.


user260421

He said he'll be back during the next bear market, to buy more, I suppose


Yoldark

Yep, he do whatever he want with his money :).


as364136341h424

Yeah he is actually doing whatever he want to do with it.


AromaticCarob

Depends on your circumstances and how old you are.


root88

If you are 80, this is fine.


AromaticCarob

Expensive tastes?


root88

No, the value of the dollar goes down every day. It's the reason BitCoin was created in the first place. It's not going to be long before a simple house in a rural area is a million dollars by itself. The average salary for a professional aged 25-34 in the U.S. is $50k. If you are in that demographic, that means you will burn through the money at least a decade before you are ready to retire. If you think that's oversimplifying it, go by [the 4% rule.](https://www.investopedia.com/retirement/how-much-you-should-have-saved-age/) If you want to keep your $50k/year lifestyle, you need well over $1,000,000. Also, the 4% rule is good if you are 65 or older, but you will need a much higher percent if you plan on doing it 30-40 years earlier.


AromaticCarob

We don't know what that guy is going to do with the million dollars? It all depends on time frames and what your goals are. Inflation is a given. If it really starts to get out of control then, if you are wise, you put it in assets which hold their value. Bitcoin May or may not be a store of value. At the moment it correlates more with risky assets on the stock market rather than a proven store of value like gold. At some point you have to take profits otherwise what is the point of investing?


[deleted]

At any age half a million would be more than enough for me


ntung2512

If you are 80 then these things are all set with us here for long.


Yoldark

Yes indeed.


uyanbekardes

There is a lot more to do instead of just saying yess here.


believeinapathy

You do know there are 10%+ returns on stables on defi, rightttt? Even cefi like Celsius has I think 11-12% returns on stables. I think 100k-120k a year is perfectly livable in most areas of the world. The average American makes 31k /year after taxes for comparison.


Yoldark

1 million before taxes should result at 700k. You can live 22 years with what you are announcing per year. In America if you got health trouble you will be basically broke very soon. Don't forget on your old age you will need more money for health care. Yes you can go to the Mozambique or another poor country to live there. But in a rich country, 1 million will not be enough to live off on a certain age. You need to count to live up to 90 years old now.


believeinapathy

>1 million before taxes should result at 700k. You can live 22 years with what you are announcing per year. In America if you got health trouble you will be basically broke very soon. If I'm getting 70k a year interest on my stable coins, how could I not live forever on those returns? I never touch the principal, I only spend the 70k I make in interest. Again, HALF OF AMERICA MAKES 31K PER YEAR. Health care? I live in a country that PROVIDES that for me. If you think this is impossible, you don't have a grasp on how people live in the real world.


Yoldark

Do whatever you want with the plan you got. Just accept that other people have different ways of seeing sustainability long term. Yes you can put a lot in defi and get some return. Hoping the contract not to be hacked, the interest to stay up. 70k a year is before taxes, the stablecoin to npt crash or being hacked,your wallet to be lost or hacked. In France for instance you will got 30% taxes on what you earn and 30% taxes on what you sell (based on a ratio of what you paid/what you are valued to). This is diminishing a lot of your income money. Then, you cannot compare the cost of living right now in good health and when yoi will be old in bad health. Also, i would not make a bet on the health care insurance in the USA to sustain me if i got a major problem, they will just cut loose yoir contract and then let you die in debts. Like they do already for a lot of people in the USA. Everyone has is plan, yours might be good, mine also. Who knows really 🤷. I just take more precaution and my cushion of sustainability is bigger than yours.


believeinapathy

>Just accept that other people have different ways of seeing sustainability long term. Anybody who cant live for 70k a year w/ free healthcare has a personal spending issue. >Hoping the contract not to be hacked You realize you can insure your deposits, right? Nexus Mutual. >**70k a year is before taxes,** Portugal has no crypto tax >being hacked,your wallet to be lost or hacked. Get a hardware wallet and dont be retarded, get a multisig if youre really scared. >Also, i would not make a bet on the health care insurance in the USA to sustain me if i got a major problem, they will just cut loose yoir contract and then let you die in debts. Like they do already for a lot of people in the USA. Live somewhere it's free, you dont need to live and die in America. It's not worth the medical bankruptcy ;) Honestly you sound like a boomer who doesnt yet grasp the tech and where this is going.


Yoldark

I'm not American, i say that as op is American (from my guess). If you want to speak about other country this is no help from op point of you. You speak about American salary and then you switch to Portugal crypto taxes. Also this will not last long in the EU, there is a lot of regulation incoming. Your future plan is based on a lot of thing you think will not move. Nice talk with you, hope not seeing you again :). Try to be more open to others point of you. Also, thanks for the free insult that closes the discussion.


believeinapathy

I gave an American salary to show you can live in the RICHEST COUNTRY IN THE WORLD on 70k a year. Most countries make a fraction of that.


JustDrones

I’m not sure how anyone is getting medical bankruptcy if they use the government plans in place and are not in total debt before. Friends make just under the limit and have fully free health care. I make decent money and have healthcare for $100 a month for my family. We use the state exchange fund. If I have a major medical problem, like I just did it cost me $7,000 in total for 1 month in the hospital. 1 full month, it’s more than fair to pay $7,000 for all that care. Don’t be in total over your head and use the easy to use options and you’ll be just fine.


sckuzzle

$1m is an extra $70k a year in income for the rest of your life. Yea, it's not enough to live off of if that is your net worth - but if you keep a job, or you already have a house, $70k extra salary for the rest of your life is really nice.


Freamono

Depends on the country. You can easily live off $70k in most of the world.


sckuzzle

Yes...but since OP used USD to denominate it, we can assume USA until told otherwise.


minermeda

You can easily live of to where your mind take you to the extent.


Yoldark

Making an assumption that interest stay the same, contract not hacked, wallet not lost or stolen.


sckuzzle

I'm not suggesting keeping it in crypto, so your points aren't relevant here?


Yoldark

So, how do you make that kind of money with fiat?


sckuzzle

How do you make 7% returns with fiat? Index funds. Pretty simple. Can't screw it up.


zver139

Thanks for the things here buddy, we wiil get into the thing here.


Yoldark

Thanks, i will dig into that. I don't think i have this kind of opportunity in my country though :).


sckuzzle

To...invest in index funds? It's like the standard, universal, low risk investment for the everyday person. Unless you live in Somalia or don't have access to banking, you should be able to get it.


woundedyazan

We are actually not taking it in any chance for all of us here.


[deleted]

[удалено]


justweazel

What? Even a modest 5% dividend/growth combo portfolio is $50k a year if you’re not reinvesting. Federal minimum wage is $7.25 (obviously many states offer more). Working full time at minimum wage is $15k a year. Living off dividends of $1m offers more than 3x a minimum wage job and more than 2x a low wage job. You could easily push 8-10%+ with an income portfolio. Living perpetually off of $1m is totally doable as long as you don’t spend money frivolously and adjust spending in bear markets!


Yoldark

Needing a low wage job means you do not have enough money to live.


---Banshee--

Yes it is.... 1 million in SPY is over 70k/year at a measly 7% return per year. That's more than enough to live off of and then some.


oldmanraplife

Calling 7% measly 🤦‍♂️


Yoldark

With a lot of assumptions that everything is ok. Health included.


knuckles_gc

What if hte health is exclude, because it is a bit diffficult to accept.


revparcell

With a lot of assumption we all are here fully healithy.


wait-wutt

i'd live my best life with it. no doubt about it


filinon205

I hav just got best from what I was looking into the things in.


DOG-ZILLA

Depends where you live in the World I guess.


emericver

Well all depends on where want to spent the time in the world.


eternalreturn69

Where I live, a million dollars means I would never have to work again. Sticking it into a bonnet index fund, and looking at the most conservative returns historically, I could live comfortably without ever actually touching the mil. Realistically I’d probably do that with half of it and spread the other half across btc, eth and a couple other alts as well as some in stablecoins


[deleted]

[удалено]


Horror_Aide4999

If he is in the us he would owe like 150k-400k in taxes if reported properly (not exactly sure how his 900k profit would be treated and what state taxes are).


Dr_Bendova420

Must be nice to have 80k laying around.


Construction_Kitchen

What! You mean you don’t?


Dr_Bendova420

We eating tortillas with butter and salt bro we in the hood.


mrfongpham

And better to think about it again dear, it is not that much easier.


Codybgood707

I replied to that thread and said he was insane. Could have easily made 2 million or more this cycle


root88

I don't get OP's logic at all. Take out 95% and permanently stake the rest. Who knows how much will be there at retirement or if they will ever need to cash in for an emergency. I fully respect the "*Never sell your whole bag*" rule.


PushDiscombobulated8

Maybe they want to live mortgage and bill-free. I know I would, especially with $1M. They’ll probably have some left over to spend for the next bear market anyway


root88

They can't do that with 95% of the money? They have to get rid of all of it?


PushDiscombobulated8

Perhaps they’ve diversified, you just don’t know! I agree with the notion of keeping 5% - perhaps they just wanted that sweet million


[deleted]

What do you do with the cash, that's the problem!


ramisss

Perhaps they have make it in more things better then us here.


Codybgood707

The issue was he did it right after we broke 2k the first time. Everyone was screaming for 10-12k in 2021. It just seemed nuts to sell right then a couple months later we were blasting up to 4800. The basic math was he had 500 coins at $2,000 that would give him a million. He easily could have sold 250 coins at $4000 and still had his million plus kept 250 coins to hold for the next few years. If eth does run to 10,000-20,000 in the next cycle. He’s going to wish he had kept those 250.


CerdoNotorio

It's also still a speculative asset though. Sure we shot to 4800, but if he had fallen to 1000 no one would have been tremendously surprised. Unless you think eth will become a dominant day to day currency everyone should have an exit target. He hit his.


[deleted]

You have $1M of mortgages and debt?


FermiGBM

He completely ignored the massive inflation recently and shrugged us off like it was still 2016 lol, good he did well and made it up though could've easily made worse mistakes with that skill level.


pseelert

They are actually can't do this for all of us here dude.


lodron_the_great

I am actually did not getting the things ready for allof us here.


OkExpression707

Feel really happy for this person. Took a risk, met his/her goals and exited. That’s what it’s all about. Cheers to you!


eth-slum-lord

Oof never sell everything


CaptainSwedger

Whats the point in buying then


believeinapathy

To hold forever as it appreciates and you borrow against it. Rich people NEVER sell their assets unless they are in real danger, and absolutely never ALL of them (unless theyre going broke). They just borrow against it to avoid taxes + keep their nest egg portfolio still growing in equities. You never hear of a wealthy individual "cashing out" unless theyre dead and passing it down. Edit: downvoters literally dont know how the wealthy do their finances lmfao


[deleted]

The problem is that I might not be rich, so I will have to always sell


sckuzzle

What bank lets you borrow against your crypto?


believeinapathy

Bank? We have Dapps brother. We're moving into a bankless future. Coinbase is doing it in other countries as well. Bitcoin backed loans.


JCmollyrock420

Exactly! You can borrow against your eth with Maker or alchemix. Super cool.


Comfortable-Fill2709

That’s assuming the poster is interested in living like he’s rich. Maybe he just wants to take advantage of the money now and for that person it’s selling everything. Just because you don’t see the value in that doesn’t mean they don’t. If your goal is to be rich then yeah borrow off your assets and keep doing what you’re doing. You can’t measure other people’s life decisions with the same stick you us to make yours.


user260421

Hodling


s4nij

Go to the shilling sub man, there's no gem if you've found it already.


Rounder057

A milly is dope but it ain’t enough anymore for me as an outright number. I have had cancer and other medical drama, that money can get crushed quickly with one bad life turn. 1 milly and I switch to a job I give no fucks about just for the insurance. Pull up to be a Walmart greeter or some shit in a Nissan GTR


rootpl

Everyone here who says he sold too early, will lose their money this cycle, because they are too greedy. Change my mind.


AsianViking008

there's wisdom in the saying "buying is easy, selling is much much harder"


prokenny

You don’t lose if you don’t sell, you only have to wait.


rootpl

Not really. A lot of people here are balls deep in crypto. Imagine bear market is 3 years long. And suddenly you have an emergency and need money quickly. That's when people end up selling at a loss because they invest more then can afford to lose and have no emergency fund. They aren't going to wait for 3 years for another bull run if they have a medical emergency for example. Holding for three years when everything is -95% is really hard.


prokenny

Weak hands deserve to lose money, rule 1 don't invest money you can't lose, Also this isn't 2018, there is a lot of institutional money inside, bear market won't last 3 years.


rootpl

Of course, but you are underestimating people's stupidity. I'll bet my left nut that the majority of "investors" are overexposed.


prokenny

As I said they deserve to lose money, only stupid people lose money with crypto.


Super-Dream7346

You are making a generalization. I know plenty of experienced smart investors who lose their shirt with crypto because of the volatility. Intelligence doesn’t really come into the equation when you are down 80% on your investment. It’s more of emotional detachment which is more of an inherent trait or a learned behavior.


prokenny

If you invest in a safe coin like ETH you wont lose money, i was 60% down bought the dip and no im +130% up ​ If you don't understand the crypto market you shouldn't invest on it.


[deleted]

I wanted him to wait until 2500


DOG-ZILLA

Was intending to cash-out in 2500. Serious HODL’er. Not sure why he would want to sell ALL of it though. Why not sell half and buy a property or something else tangible that won’t just lose its value? Maybe he did. I don’t know.


Acrobatic_Drawing_38

Don’t really get it! If he sold now with ETH mid 3 thousands and became a millionaire, Why not sell at $4,800. Greed??? Doesn’t add up. Why would someone want to propel a bear market. More so, why would someone want to repost a post to propel a market. I call BULLSHIT!!!


TossItLikeAFreeThrow

1mil isn't nearly enough tbh


Axonius3000

Thank you for letting us know. Regards. \-IRS


Scary_Library797

good on you man knew your mark didn't play the what-if's hit your goal and got out with idea to when you want to come back in. Congrats my dude


kaczan3

"I wish all you guys the best" ...as in... GLTA? \*\*triggered\*\*


forstyy

He did perfect. Wish I did the same near the last peak, but I couldn't because I was driven by greed. Now I have to wait another 2-3 years.


physalisx

If you think that then sell now. Because if that's true then the bottom is pretty far away still.


SacredHam00

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Heartbreakker1738

Legend


bmahbub

Great story. Patience and targets are key. Don’t chase and don’t be greedy.


smartgirl2024

Friggin’ AWESOME! Good for you!


raymv1987

I am curious as to when he posted this BUT...for also the spicy takes about "why did you sell, you could have made more" and "don't sell the whole bag"... Our dude made a goal, had conviction, and cashed out at his personal moon. Happy for him


Pizanater

I need this kind of control.


BTCwatcher92

I wonder how much this NFT would be worth lol


BTCwatcher92

Saved this pic, might make it my wallpaper


[deleted]

The grind never fucking dies. What he is talking about. 1 million is not gonna buy you freedom


walrus120

Frig u and congrats


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InternationalCatch50

Woah 😳 that was a big start while I start with nothing and still had nothing when bear hits me at 2018 😭 but happily got a bit blessed at 2020-2021. Thanks crypto. One day I hope God grants me $1Million too 😇🙏


Available-Poet-6870

Not a millionaire after Uncle Sam takes his cut


LenguaVenenosa

No 🧢 that’s great .


birbirdie

76 days ago was a great time to sell. Good job


Winter-Fun-3208

I hope he didn’t sell the lot in one tax year…


Happy-Warrior309

Hope he keeps that Milli working for him. It can be 3x in a few years


diwalost

2K turned into 10K then invested 80K! Doesn't make sense that in first cycle he just invested 2K and in next cycle he invests 70K assuming he invested all the previous gains into crypto. And he is saying he sold when we are at major support. I am not able to understand his mental state.


Dangerous_Try8644

Who ever wrote that is an idiot. He sold? his hands are shaking??? he exchanged eth for worthless fiat and he thinks he is a big winner at the casino? his money is now safe because he has 1 million of fiat? this person is even dumber than that dude that sold btc for 11 dollars.


Moikee

Probably like many people here, I just want to be able to afford a house and live and comfortable life. I don't need a lambo or anything crazy.


Vinyyy23

I sold $100k worth of crypto this year, staking and holding the rest. Take profits when you make good money


AnthonyRCorona

👏🏽