Further to a healthy discussion yesterday, below are some observations you may find useful.
Example - Single Mother, Nurse in London.
Facts:
No meaningful payrise in over 7 years.
Lives in one of the most expensive cities on earth.
Needs better provision for University tuition fees.
Has no way to fight inflation and annual living cost increase.
Has little savings in child's name in "Junior savings account"
Possibilities: (£ 1000 = $ 1250)
A) £ 1000 in cash deposit = £ 1010 if 1% interest in ISA
12 months later, £ 1010 should have the purchasing power of £ 950 or less. Not ideal as "University fund"
B) £ 1000 to Gold = 30 grams with SGG (19 grams with KB)
12 months later, still the same grams in number
although value is whatever the price of gold in 12 months
C) £ 1000 in BTC mining = £ 1,118 in year 1 rewards
thats 35 grams of Gold instead of 30 grams
then there's the returns of year 2 still, and year 3, and...
then the option to keep BTC instead of Gold
If BTC only doubles in 2018, £1000 spent today on BTC mining would still be a significant return on idle bank deposit.
A) is what the majority does out of being uninformed.
B) is what less than 5% will do by being better informed.
C) is the potential for everyone reading this to take the message to the masses.
Is it a risk? Yes of course. Just like living in your country, and working hard every day and still getting nowhere.
Can it go wrong? Yes, just like Northern Rock did, and Bradford & Bingley, and the Icelandic Banks, and Lehmann Brothers.
What if it does not work? Ask the Bitcoin Millionaires if it worked for them?
Tiredness and time pressures are valid reasons to delay working on your plan B.
For doubts and enquiries, we have a whole team of people willing to support you.
For scepticism and laziness however, there is no solution except your own desire to stay ahead of a system that takes so much out of you but gives you little back. not even a pay rise in 7 years!
