Bits pfp
Bits
@bitsbitsbits
I haven't shared a lot of financial thoughts, and the real reason is: 1. I haven't been following much 2. This price action has surprised me I'm starting to believe the attention span every crisis in the news cycle gets, so it does in markets. As in, we move on so quickly even when the problem isn't solved.
1 reply
0 recast
2 reactions
Bits pfp
Bits
@bitsbitsbits
This may catch up with us, but you don't fight the trend. The biggest problem I've had post-taking money off the table is what do I do with all the cash? Wealth is actually something that's hard to emotionally wrap your head around at times. Going from a grind to financial freedom is weird and scary in a way?
1 reply
0 recast
0 reaction
Bits pfp
Bits
@bitsbitsbits
Suddenly you have all this time that's unstructured. I found there's a fear I have to "losing it all" - even though I've been really conservative about saving. You end up confronting a lot of physiological things about yourself because you suddenly have time to do so. You're not in survival mode anymore.
1 reply
0 recast
0 reaction
Bits pfp
Bits
@bitsbitsbits
With crypto, it's hard to not "if I hadn't sold" as new all time highs are hit and you have to grapple with "enough". And if you do it right, suddenly there's an accumulation factor that's hard to wrap your head around. 20k/month on rent? That's crazy! Wait...I could totally do that and it won't make a dent? Oh.
1 reply
0 recast
0 reaction
Bits pfp
Bits
@bitsbitsbits
But also, should I live more conservatively and increase charitable donations? I don't want to be one of those assholes who just hoards wealth and doesn't help others? Anyway, all this to say if this cycle leaves you rich but you suddenly find yourself struggling with this kind of stuff I get it.
1 reply
0 recast
0 reaction
Bits pfp
Bits
@bitsbitsbits
Now, the cash problem is real. I've had the goal to make $300,000 a year passively with what's been taken off the table. I have one account that's really conservative (think HYS and CD) and then another large market account that I never touch (2 year change is 800k+).
1 reply
0 recast
0 reaction
Bits pfp
Bits
@bitsbitsbits
I have 600k in an active trading account I'm looking to bring to 1m by the end of the year. And then there's my crypto. Crypto bags are funny in the sense I keep selling but the total value has remained basically the same over the past 5 years. I'm getting to the point where I'm back to holding whatever I have
1 reply
0 recast
0 reaction
Bits pfp
Bits
@bitsbitsbits
Should we get a real bear market, I hope to use some of my cash surplus to rebuy a handful of bitcoin. But that's it. My $ETH and $SOL bags got replenished long ago and I actually cut some of my $ETH bc of how poor its performance has been. But mostly, I've graduated from thinking about finances that much
1 reply
0 recast
0 reaction
Bits pfp
Bits
@bitsbitsbits
I'm getting close to 8 figures net worth - something that was a goal I set in 2020. I didn't think I'd be here so quickly, and I also just don't see a point of more more more, though I realize if I'm smart, that will just happen. So I'm trying to let myself enjoy my time. Be creative, set hard goals...
1 reply
0 recast
0 reaction
Bits pfp
Bits
@bitsbitsbits
...create a profitable business, make a positive change in the world around me, focus on health, family, etc. I'm no longer obsessively looking at charts, following financial patterns, and desperately trying to alleviate the worry I have about being an artist and filmmaker and needing to live around 1500/month. So if you never see another financial prediction from me, that's why. I did it.
1 reply
0 recast
1 reaction