You want to get rich quick? Put everything you can into the crypto market during alt-season.
See? Simple. Easy. Quick!
You want to get poor?
- Ride the return trip.
- Act like you are rich before you have secured your position
- Forget to tell the IRS
- Buy that fancy car / house
- Continue to gamble big, when the market has turned.
- Tell your friends and family that you are rich / flash your wealth.
Do not tell anyone
Even your wife. Well, as long as you trust your wife, it is good to make her think she is more secure now. But, so many women will take this the wrong way, and take you to the cleaners. She wants diamonds, jewellery and hand bags. All of these have 1000% markup. And so, you are throwing your money away. Buy these things from a pawn shop, and then get them professionally cleaned and get a nice box.
Do not tell your friends. This is the way most lottery winners become pecked to death. When your poor friends know you have money, they will ask and ask and ask for handouts, loans, etc. They think that it is appropriate to share the wealth, although they may not even consider sharing if the places were switched.
Neighbors are your enemy, unless you know them to have your back. If you have worked out things like SHTF protection plans with your neighbors, they may be trustworthy. Else, they are your biggest enemy. They know where you live, they know you have money (or food, or fancy stuff). They are just three missed meals away from being your worst nightmare.
People to tell:
Your CPA / accountant. Before you sell more than the first threshold of reporting (i think it is as low as $500 now), talk to your accountant. If you do not have one, get one. Taxes are the big thing. But you can get your transfer ceased just because it is an abnormal amount of money suddenly deposited. And the bank does not have to let you have your money.
Acting rich is a mistake
I hatez the Card-ass-ians! They are a show, and nothing they say is correct. They spend more money than their income would ever allow. And most of this is done by asking actually rich people to lend them a car, hotel room, yacht… If you have the connections, borrowing these things are easy, and the people behind the show know them. The show is to make everyone feel poor, and feel like they are missing out (if only they were rich) while simultaneously lying about how to be rich.
Most actual self-made millionaires drive used cars. Spend frugally. Most people would never know they were millionaires. (unless you also have a rich-mindset, and then you can tell by their words) (a poor-mindset also has a language that screams how they will blow that money on sneakers if they ever hit it big)
Here is one really, really big issue, we are in for financially troubling times, and during those times poor people start eyeing any signs of wealth with envy and hate. If they see you driving that lambo, they are going to see you as someone to rob, and beat up to relieve their pent up anger. Get one of the working class muscle cars if you must have a fast car.
(if you want the experience of driving a fast car, go take a class at a raceway. Where they teach DEFENSIVE driving, and racing. If you want to drive that lambo, go to Las Vegas and rent one. Rent a penthouse. Live it up. Pay the tab and leave. It will cost you less than the tune-up, oil change & sparkplugs you will need every year for your lambo.)
Being rich is actually a mindset of, i have enough money in the bank to afford any problem i run into. The lack of money is no longer the problem.
The Infernal Revolting Syndicate and you.
This is NOT financial advice. I will try to relay to you some of the steps that the world, especially America, will go through. And how that applies to your cryptos.
People will, pretty much, entotal, stop sending money to the tax man. The Minnesota childcare scandal is just the tip of the iceberg. People will see just how much of their taxes go to something that they DON'T want. Then, everyone just stops sending in their money. When everyone else is doing it, you may want to not join in.
Instead, you need to be owning a corporation. Where everything you do is an expense. And is taken out of your net income before it is ever thought of for taxes.
One of the things to do, since crypto is currently considered a commodity, (like gold or silver) is to trade your crypto directly for your homestead. It should be legal, but we do not have IRS statements yet. Now, if you do this in a corporation, now matter how you do it (sell crypto for cash, use cash to buy property) you have so much assets on the books, at the end, you have the same amount of assets on the book. There was no income. Nothing to tax.)
There will also be a time when that Infernal Revolting Syndicate goes after as much bitcoin as they can find. This is totally illegal and unconstitutional, but so are they. There will be a lot of tragic boating accidents where you lost your keys.
There are rumors that Trump is going to shut them down, or remake them. But, believe it when you see it. Hoping that Syndicate is shutdown is not financial planning.
So, be sure you get a CPA and a tax attourney. AND MAKE SURE THEY ARE AT THE LEVEL OF YOUR WEALTH! Do not go to H&R Block when you have millions. They do not have the expertise to handle those amounts. Even if you have a tax person who has been doing your middle class taxes for years, you need to upgrade. The laws don't change, but how they handle you is a completely different situation. (Big corporations like Ford negotiate for what their tax bill will be, and they have IRS agents who live in their computer room 24/7. And yes, they are paid through Ford.)
Of course, my biggest advice has always been, have a plan for what to do with your money, before you get crypto rich.
If what you want is a homestead, be looking at their prices and watch the area you want to live. When you can get it without selling your entire stash, be ready. Look at getting the off-grid solar array too. Trade your crypto for plans that make your monthly expenditures zero. This way, you live on comfortably no matter what happens (financially).
It is really important to start training your mind to think-rich before you are rich.
Because middle class people have a million ways to blow it all. And poor-mindset people will often get themselves killed by having too much money. (like giving a junky a lot of money, will seem them having the high of their life, their last high) This is why "Thing and Grow Rich" was such an important book to read.
Get your rich-mindset working before you suddenly have a million dollars worth of shit coinz.