Rolling The Dice
@tarazkp raised an important point with his post last night To Never Retire discussing current pension plans and what those will look like come retirement age. The reality is we don't really know as inflation doesn't exactly help those plans. A well planned pension set up 20 years ago may look very different when retirement age kicks in.
I think everyone's plan is to have the house paid off guaranteeing minimal expenses so the pension payouts go that much further. You have to eat and after a lifetime of working shouldn't have to consider growing your food to survive. That to me is not how things should work, but reality is never fair as I am no green finger specialist.
I think this is where Crypto has to kick in at some point with all the work that has been done over what should be many years by then. It is somewhat of a gamble but I do like the odds as they are kind of stacked in our favor. Early adoption combined with building a sizeable portfolio should set one up for life and not to need to worry about the pension.
By the time I am set to retire which I don't see that happening as I am always up to somehting as staying busy in a business is my passion. 65 or 70 is the retirement age so that for myself is another 11 or 16 years away which is not that long as time speeds up for some reason the older you become.
My scenario is I would have been involved within Crypto for around 15/16 years by then which should result in some seriously decent values. 5 years on HIVE is along time for many so multiply that by 3 and the stake should be a sizeable sum earning a decent passive return each month. Throw in your other investments and those being staked for a lengthy period of time compounding along with the APR earned you should be well set.
I do think this is why I take Crypto seriously as it is going to play an important role over the coming years and there is far more involved than just mooning. I am not banking on it entirely but the future plan is going to become a lot clearer within the next 5 or 6 years as prices will most definitely rise significantly.
The one thing I know is you don't gamble with your future and rolling the dice to see how well off you will be is not something I would ever do. The odds of Crypto booming and achieving the wealth required are definitely stacked in the favor of those that are thinking long term and not just the next cycle, but way beyond. Those that have a diverse portfolio will definitely benefit from the time researching those projects.
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Sounds like a plan to me! I can retire at 50, but I honestly don't know if that is what I am going to do. I think it will require some long talks with my wife and a good look at our finances. No way our house will be paid off by the time I am 50, so that might be a factor too!
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Having a house paid off is the big expense and with me moving again it will be a factor for sure as downsizing is not something in my vocabulary. I do think in the next 5-10 years we will have a better understanding as Crypto is going to play a big part in all of our futures.
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My wife and I would love to downsize I think, but the market is just not favorable for buyers right now. We will likely just wait it out and see what happens.
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I think we all fret about the future, but very few take active steps daily to secure it. life is no joke, and every second counts when our financial status is being determined
Life is no joke and has become a hell of a lot harder for the majority. How many have actually done anything extra like we have as who says the pensions are going to be anywhere near what we expect them to be? Places like Hive take the worry and threat away and are that important.
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Oh yes, I have no pension and almost 70 now, but it doesn't worry me as we have no debts and my wife has a secure job as a lecturer, plus she will receive an inheritance in the future. So she will be secure after I have departed this planet.
My main mission is get the future of the Papillon charity secured and I think that crypto will be a great help in achieving it.
Btw. Retirement is for old people and I am still far away from that :)
My plan is to croak on the job, so I will cheat retirement.
Lol. Croaking is still a long way away and yes retirement is not an option as what happens then? I have no plans of sitting around doing nothing as you may as well be dead. Crypto will come into it's own at some point and then it will be fun times for sure with no real budgets.
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Exactly and both you and I will cheat retirement methinks!
Sorry I meant that you and I will have a real !LOL
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With the way things are anymore you do need to look at finances yourself and plan big time. I'm in the same boat I want to retire (but not really retire just not worry about money and be able to afford some things) getting there!
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Your posts on this topic always make me think :)
With a passive income generating crypto stack combined with the skills required to earn money from offering digital services, I've found a sustainable work/life balance.
I am quite content with the position I'm putting myself in for the future.
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