Hey Jessinvestors
I know a lot of you are sitting and thinking what will the top be of this bull run; some of you are making pretty tasty gains, and you're feeling chuffed. Others are taking profits. Some are taking their principle off the table. There is no right or wrong way to play this game; only ones that fit your needs or plans.
For me, it's creating new streams of income that drip into my wallet; I am not trying to strike it big; I am trying to strike it slowly, but surely as much anything can be sure in the crypto market lol. Risk is everywhere, and I accept that I am not spending money that I can't afford to lose.
I've made peace with the fact that it can all go to zero, and I don't lose sleep over anything that happens in crypto; in fact, I sleep pretty well.
The no choice investor
I realised a while back that working my way to retirement in South Africa was not going to happen; I needed to start investing, learning about it, finding something that worked for me and stick with it. I didn't want to learn any of this shit, I'm as lazy to think about money as most people are, but fuckit, I really hate the idea of working till I'm an old grey wrinkled testicle looking dude.
I wouldn't consider what I do in crypto investing because this really is the wild west. Every day here is like a brand new slap in the face or kiss on the cheek.
And you never know which one you're going to get. I always wanted to have an additional income I didn't have to break my back to earn. I'm not asking for a salary, just an additional drip that can stack up over time, and I can redeploy elsewhere.
Acting like a retiree early
Many of us have the dream of retiring early, and those that do have their own strategy to get there. I personally wouldn't recommend my strategy to anyone because I live it, and it's shit, but you get used to it. I live like a retiree, I cap my spending aggressively, I invest in a range of assets, and I try to increase my fixed income.
Sometimes I even catch myself speaking like an older man, even got the pain in my lower back after soccer to feel like one.
- I've got stocks that kick off divident,
- I have crypto that kicks off interest
- I have tokens I get staking rewards on
- I have cash collecting interest
- I have bonds paying me interest
Then I try to take some of that returns or cash I work for and do it all again and keep repeating this cycle. It could kick off a few cents to a few dollars a week. I then keep a spreadsheet to see how generates what I lay out a predictive run rate.
What I am trying to do is eventually get to a point where I can reduce my salary or even drop it altogether, and it wouldn't affect my life one bit.
I am far from that goal, I don't know if I'll ever get there, but I'm giving it a try with the little bit of math I can remember from high school.
Increasing your yield not eating into your principle
I think it was Einstein (been to his house in Bern btw low key brag) that said compound interest is the 8th wonder of the world. To prove it think of Warren Buffett; his old ass made MOST of his money after 55. Granted his the very definition of cantillionaire and is a rent-seeking boomer, the principle remains the same.
A little drip can sink a big ship with time, lord knows how much time I have left on this planet, but this painful strategy of delayed gratification is the one I've chosen.
While so many in crypto like to fixate on the big lump sum with drawls or buying low and selling high, all I am looking for is a little supplemental income. To me, once you sell, you're out of the game, and sure, if its a bundle, you don't need to care.
But for me, taking my chips off the table - tax makes no sense, especially after all the waiting I've done. Those damn sunk costs have already got me knee-deep, so I might as well see this thing through and see which ones pay off and which ones don't.
Have your say
What do you good people of HIVE think?
So have at it, my Jessies! If you don't have something to comment, "I am a Jessie."
Let's connect
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