This may sound like a silly question, by after reading a few posts today that got me thinking. Do I spread out that wealth over different coins that I believe in, do I gamble a percentage on shitcoins like Dogecoin, or do I pull some out for more traditional Investments?
I keep seeing Trump saying the stock market is hitting all time highs. I considered opening a Vanguard or Stash account today, but then thought to myself why would I buy in at all time highs? Maybe I should put some bitcoin or litecoin away for when the market crashes or correct I can buy in cheap. It's not crypto type returns, but it's lower risk with more consistent returns. I might start accumulating litecoin on the lows so that if when we have another market crash this will be my investment fund. Around 20% of my first million.
With SBD price over $1 it just seems like a great time to be accumulating Bitcoin. For lack of better options bitcoin is the best coin to accumulate if you're looking into purchasing alts. Seeing as how most alts are currently already at all time highs bitcoin is worth collecting for the next correction. Around 60% of my first million.
The last 20% would be use to gamble on junk coins, put some money towards debts, and max put tax free plans such as 401k's and hsa's. After I gain 20 pounds trying to day trade I'll probably give up day trading and going back to writing steemit articles and rejoin all the communities I love here. Obviously this is going to be a process and when I hai my first million I'm obviously not powering everything down and quitting just taking some profits and diversifying my Steemit profits.
What's your plan for your first Steemit million?