FIRE

Secret_Nobody_405

Although I absolutely love your response, it’s brilliant, logical, and seriously aspirational; but death can strike any time well before we achieve FIRE. I have also made the career decision to choose a career that I can work easily work FT, switch to PT, and then Casual as I age. I used to always desire retiring early but after leaving the workforce for 2 years whilst studying I missed the culture, team and friendship from working. So my aim is to travel and do what I want now, with family and continue to work until I die 😎. My observations are that if you stop moving you die. I also have never met a 90 year old who retired at 40, I could be wrong though.

JeopardyQBot

TRUMP ASKED IF HE’LL PLAY HARDBALL WITH CHINA, SAYS NO TRUMP: WE'RE GOING TO BE VERY GOOD TO CHINA TRUMP: TARIFF ON CHINA WON'T BE AS HIGH AS 145% TRUMP: CHINA TARIFF WILL COME DOWN SUBSTANTIALLY BUT WON'T BE ZERO TRUMP: NEVER HAD A PLAN TO FIRE FED CHAIR POWELL what is going on lmao

penty

First buys are in late 2012-early 2013. Only put in what a single income family man could afford to lose. Since then I've moved from Sabbatical -> Lean FIRE > FIRE. This wave and the next will put me into Fat FIRE. Although the "E" is starting to not be as applicable depending on what you consider early.

JohnBITbigcoin

ARGUMENT OF A SAILBOAT ARE YOU BRAIN DEAD LIKE SINKING MONEY INTO A BOAT IS LITTERALLY LIGHTING MONEY ON FIRE , Bitcoin is again the 1st & only asset retail investors beat governments & pensions & wall street into from .38 cents to 109gs

New-Ratio7418

Becoming a member of FIRE has been a game-changer. The group’s focus on education, trading, investing, and advocacy has put me on the path to financial freedom and early retirement. It’s incredibly empowering to be securing my financial future. https://www.facebook.com/share/g/15vUeue1Gs/?mibextid=wwXIfr

Intrepid_Guidance_57

I’ll keep it simple for you, Bitcoin is the one you want to invest in, you need to STUDY it like your life depends on it ( I’m not over dramatising ) study, understand its fundamentals , then buy and hold… never sell your Bitcoin. Buy it on an exchange, ( Coinbase, kraken ect ) DO NOT LEAVE YOUR COINS ON THE EXCHANGE ( potential hacks, accounts can be frozen or restricted if the system flags it for any reason ) Then you need to send your coins to a wallet YOU control… we call this “ cold storage “ you’ll also need a hardware wallet ( this holds the keys to your BTC, the keys are essentially what’s called a seed phrase, it’s either 12/24 words… ) MAKE SURE YOUR SEED PHRASE IS ON A TITANIUM METAL PLATE AND NOT PAPER INCASE OF FIRE,FLOOD, ETC YouTube is your friend here… BTCsessions is a great channel on YouTube that walks you through the process and also really helps you to understand what exactly you are doing and why. I recommend the Blockstream Jade for a hardware device, but that’s my personal opinion, he does a full breakdown of this hardware wallet as well, very beginner friendly IMO ( do your own research ) This is alot of info crammed into such a small reply so apologies about that, but everything I have written here is what you need to study and fast, there’s not much bitcoin left , it’s not just about the money, it’s freedom.. that’s what Bitcoin buys you, Time/freedom… but you’ll only ever understand this if you truly want to learn and get into it. I hope this helps man, I wish I had someone tell me this as soon as I entered crypto years ago.. Good luck my friend!

wfhlife

Bitcoin is ever increasing in purchasing power over time. Dollars are ever decreasing in purchasing power over time. Selling a little bit of it to purchase something you want right away makes sense. But selling all of it to hold a bunch of dollars without a purchase in mind does not. You will watch your purchasing power erode as you sit on those dollars. Bitcoin is a great vehicle for achieving FIRE, I would just suggest studying it a bit more to understand what you hold. Here's a great starting point: https://youtu.be/oksraL7wN6Q?si=Mt3R6DtzP40Gc7XL. Good luck.

animuz11

I dont understand bitcoin and dont give a fuck. I want to be FIRE

Warrlock608

I still have many good working years left in me plan on grinding at the fiat farm and achieving FIRE+

raknaii

When you hit your FIRE goal you can just start cashing out a few % a year. Like 2-3% of your stack. Enjoy life

Lwilliams8303

Woot woot FIRE SALE!!!

IGnuGnat

Try to learn the basics of investing in the stock market. Dollar cost average that $500k into a diversified portfolio of low cost funds, bond funds, with a little bit in GICs or high interest savings. Withdraw only 4% per year of the total invested. That's $20k per year. This money will probably not last you the rest of your life since you're only 26, but if you're smart with your diversification and investing strategy you can take a year off, keep your expenses under $20k, and you'll basically live for free that year from income off your investments. This gives you lost of time to figure out what to do next, or with the rest of your life. Once you have that figured out, try to make enough money that you can keep contributing to your investment portfolio every year. Look up, study and understand FIRE or Financial Independence Retire Early. You have an opportunity that very few people on the planet will ever have. You don't quite have enough to retire for the rest of your life, but you have a massive head start. You could probably find a way to retire at 35 years old fairly easily, if that's what you want. If you can figure out how to live off of 3% of your portfolio, you can live off that 3% theoretically for the rest of your life with something like 99.9% certainty.

True-Rule-7409

Once I hit one, I would hope bitcoin is at a price where I can leave my job and retire comfortably. Bitcoin feels like a sure FIRE way to freedom and once I hit one, I plan to excercise that freedom. Governments can continue to print money but hopefully at that point I won't care. I might not hit one in the next 10 years but even so I might get financially free on the way.

davidn281

Put some away. Coast FIRE. Do any job you want. Live the life you want.

QR3124

This. I lurk on some FIRE forums and to me those people are misguided. They think retirement means sitting on a beach someplace and or doing very little all day. I'd go out of my mind without some projects or whatever else to keep busy. The opposite extreme is the guy who works long after everything else physically about him stopped working, and for what? A bigger pile of cash? I just don't get it.

Narada-Muni

Here a small bit of experience from someone who is 51. I have been in the crypto sphere since 2018, and had my ups and downs, learned a lot on what to do and what not to do. Also learned that wealth comes in many forms, in this case financial security and the daily happiness (work/pleasure). About the first one, I had a similar situation as you. Had a shitty job, and hoped that crypto would come and solve that. Unfortunately thats usually not how it works. Saving money, investing and crypto can really work, but they require a plan, commitment and time. Do not expect that coin you just bought to do a 100x and save you from your shitty job. It will not happen. In the short term you have to sort out your life/job situation and reflect on what it brings you. Does it give you more (energy, money, happiness) then what you put into it? Great, keep at it. If not, have a conversation with someone about it and reflect on what you want, your goals, what makes you happy on a daily basis, what are you good at, things for the long term. Try and make a plan to get there and stick to it. I had several lousy roles at this company i worked for for 20+ years. It took me at least 10 of those 20 to realise that, make a plan and better my work situation. And ofcourse ended up with the “should have done this 10 years earlier”. There is ALWAYS a better way, job or situation, but it does not come by itself. The second part regarding financial well being. It might be financial independence or even FIRE, but whatever it is you strive for, keep in mind that its a long term game. You have to plan, commit and realise that it requires time. So instead of hoping to retire soon, try planning and investigate ways for you to save, invest or whatever you are into to make sure it WILL happen. Again I have been there and can say from experience, that we usually expect to much too soon and because of that don’t really change anything for the long run. We just keep disappointing ourselves because we are focusing on the short term. Get out of that vicious circle; reflect, be honest to yourself, plan, commit and give it time. That is the way.

Huge_Monero_Shill

Bitcoin is like FIRE, both are insanely boring once you get it. Change your mindset, live below your means to invest the surplus, run the program for 20 years.

Dayo22

Fellow follower of the FIRE subreddits here 🙋🏻‍♂️

TenshiS

I agree, this is a different goal than to "make a profit". What you want is to diversify it well - by maxing your 401k, putting part of it in a savings account with interest and a big majority of it in the S&P500 and MSCI World . Then only pay yourself each year less than 4% of the entire sum. Check out /r/FIRE

Mildmannered75

Pretty soon you won’t see it as a pull back but a FIRE sale , how many times have you sat back and said “ I wish I bought then !” When it gets over 100ooo u will be missing the 80’s Zoom in Buy high Sell low Shit …. I meant The opposite of that !!!

GivePeaceaChancex10

I'll take 2035 all day. I'd be 46 yrs old by then and as it stands, I only work part-time 2 days a week so I can keep this up for another 10 years easy and be satisfied at retiring at 46 for sure. Sooner would be cool, but not necessary. I could go down a FIRE path to get there sooner but I live my life now how I want and am not overly frugal and don't feel like going there and making those sacrifices

br0mmando

I ll sell once it allows me to FIRE but I think I will just keep until I retire.

Childish_Tycoon_Ship

OH MY GOD!! WE'RE HAVING A FIRE.....sale

DarthBen_in_Chicago

Sell it when you need to. If you plan to live off your stack, you can use the [Bitcoin FIRE Calculator](https://bitcoincompounding.com/) to estimate how much bitcoin you need to sell each year / how long your stack will last.

NonGNonM

i've noticed a growing number of young people who think living in an apartment or basement their whole life while stacking money is the way to 'live.' like i understand what they mean but is it really living your life when you're under someone else's roof and rules? dunno. like i don't look down on people living at home or renting if they have plans to get out - not everyone hits the ground running or have the means - but i don't get the people who don't have the drive to get out on their own ever. and ofc some edge cases like people who don't have the means to ever afford their own house, etc. I don't look down on them either. it's the people pulling in 6 figs and living at home trying to FIRE but no plans to ever own property or be on their own. like are they aware they're setting themselves up to price themselves out of good places to live? Rent goes up every year in most cases. If you like the area you live in now, it's likely to become more desirable over time. yeah there's property tax but at least you own the place and can have it be an income property if things come to that point, then you can still rent a place for 'free.'

Altruistic_Box4462

HODL!! BUY MORE!!! JUST A DIP BRO!! FIRE SALES!!! r/cryptocurrency until you're -85%

ScottBroChill69

AHHHH ITS A FIRE!!! sale.

Maleficent_String577

I have .21 BTC and I'm 60. Sold .20 back in 2020 for approximately $1,800. Now it would be worth $18k. Not regretting it, because what's the point? I'm still stacking and contributing to my 401k and my T-Mobile stock, because I'm an employee and get a huge discount. You live and (hopefully) you learn. Congratulations for seeing the big picture at a young age. I wish you to be FIRE 🔥 (Financially Independent, Retiring Early)

penty

Yeah, but only enough to max out my Roth, which I use to buy a BTC ETF. This cycle I'll probably get kicked up from FIRE to FATFIRE.

Snoo-58702

Oh, those are the words you chose to quote? Really? And, no, there is nothing to explain, bro. It would only be futile. And that's the tragedy. I would lol if one of my friends was to even only contemplate the idea of injecting disinfectant as a cure for covid but... when it's the President of the United States of America.... you know.. Oh, and btw, you know what else kills covid? 1) BULLETS. Shoot the patient in the face and boom, covid gone. 2) CONDOMS. Less sperm swimming into eggs, fewer people. Fewer people, fewer covid sickies. 3) FIRE. Try to inject that into your veins right after the disinfectant and I guarantee you your death certificate is not gonna fuxxing say covid. Moron.

anonymousCryptoCity

I don’t really care about the “FAT” stuff. I do think jobs, more often than not, tend to be oppressive to ordinary people - as opposed to those super energetic, extremely social people who love to be doing things all the time / bossing others around. I see posts about it constantly on subs like r/adulting. However, lately, I’ve also been seeing posts from people who achieved the FIRE goal but still struggle with existential stuff. So the fact that leanFIRE is the most possible goal right now for the most people, through Bitcoin, is an amazing, unprecedented opportunity that has never happened in history.

Chevillator

You mean enjoying life ? No FIRE at 45 but only having fun after that. So great xD

puffman123

FAT FIRE is better

pifumd

my guess is they don't understand how much money you actually need to FIRE.

DoubleUglyWhisperer

Feels like it's not just real estate that has this issue. Folks are scrambling to dump their evaporating fiat into any store-of-value assets they can. The same argument you're making for real estate could also be could said for other "investments" like 401Ks & mutual funds. Folks are blindly dumping a percentage of their paychecks into these 401Ks & mutual funds. What's are 401K's and mutual funds? Retirement & investment accounts primarily consisting of a basket of the top most powerful corporate entities in the world. People bitch about shady insurance companies like United Health treating their customers poorly by denying claims. People bitch about poorly managed companies like Boeing making 737 Max airplanes that crash. People bitch about outrageous multi-million dollar corporate CEO salaries and compensation packages. But guess who rewards that bad behavior and makes those companies stronger? We do. Every Joe-worker dumping a portion of their paycheck into these companies month-after-month. It's not the average person's fault though. Most don't know any better. They're just dumping their evaporating fiat into the only stores-of-value that they know. Everyone from the Joe 9-5 worker, the FIRE (Financial Independence, Retire Early) movement crowd, to the Dave Ramsey disciples shoveling a portion of their paychecks into high-growth mutual funds. Real estate, 401K's, mutual funds. The mainstream stores-of-value. Like you, I'm hoping for the day real estate ceases being the store of value and returns to being a utility purchase to provide a better life for folks and their families. I'm also hoping for the day corporate "equities" like 401K's & mutual funds follow a similar path. Where these juggernaut companies stop being rewarded for merely existing, and instead are rewarded on merit by providing better products and customer service.

CferDFW

I'll play devils advocate here. You say it's more than enough to retire, I'm ballparking $2M equivalent or more. I say that because that's my FIRE number to aim for. Many are saying take 3-5% out annually instead of a lump sum, and that's not a terrible plan, however it ignores the 4 year cycle. BTC will eventually cool off again, and you won't be selling at 100k but more like 50k. So while today a 5% sale might be 100k, in the lowest year it might be half that or less, and conversely in the next cycle BTC may be 250k so 5% would be more. At the end of the day, *today* you have all of your eggs in one volatile basket and some diversity wouldn't hurt. I would pull 20% out, and DCA that into other investments over the next 12-24 months, keeping some for monthly allowance. What other investments? Talk to an advisor, or take your time and learn. Take a small amount (1-5k) and just practice with it. You don't need the money, you need the experience. Track your % growth, keep your eyes open for opportunities - plenty of multibaggers that are yet to come. And it should be said, the future of BTC is not assured. It's unlike anything we've seen before but I would not be surprised if one day the bubble pops. If that ever happens, you'd have wished you diversified at some point. I'm betting a majority of people will think that's not possible, but no one knows the future, take the opportunity to setup some options for yourself. Good luck!

anonymousCryptoCity

lean FIRE with crypto is an amazing opportunity.

TurdsBurglar

Janet FIRE up the money printer! Janet, Janet, Janet?

CavernousSwamp

Haha ok well the 4% comes from FIRE I think, and the 3% is what Norway is allowed to spend from its sovereign fund (so multi generational long term thinking).

danthropos

I'm on the FIRE plan (https://treysellers.com/bitcoin-fire/). It recommends saving until you reach 25x your annual income (that is, you can live by cashing out 4% of your stack per year). I'm trying to get to 50x / 2%. Yes, this will decrease the size of your stack over time, but not in USD terms.

rjm101

It's a similar issue for people in the FIRE community. They mostly have accumulation index funds usually off the S&P 500 so they don't get an income really and so they work off the 4% safe withdrawal rate rule and sell up to 4% a year to cover their expenses for retirement. I guess you could do something similar.

Generationhodl

"I have enough, but feel like I don't have enough. " I think this has nothing to do with bitcoin. I'm often lurking around in the FIRE Sub and there are people with 2-3+ Million $ who still don't think they can retire or that the amount of money is enough for them. They set goalposts but as soon as they reach them, they set new ones. Since the beginning of this year I don't stack any more bitcoin. I stacked like a mad man for so many years, and even with credit, so I decided that I want to enjoy my life more right now. I'm totally going to use my monthly payments from work to go on vacances, do hobbies and be more social , go out more often, eat new tasty food and so on. I did all these things in the past, too, but more frugal, but they were still fun and good! I also use part of my monthly wage to pay back a credit (that I used to buy more btc). I fully trust bitcoin 100%, if bitcoin stays bitcoin then I'm pretty confident that the amount I have right now will be more than enough to retire soon. But the thing is, I'm not 20 anymore, I really need to focus more on parts of my own life that have nothing to do with bitcoin or finances. There are always more important things in your life that you can improve that have nothing to do with money. I reached an amount of bitcoin I'm proud of and I really feel some kind of calmness / content. When bitcoin will continue to rise in fiat-value like the last 15 years, then there is really no need to add even more bitcoin. If we see btc prices of 170k-200k this year, then I'm going to sell some Sats to have enough money into some low-volatile stock-index but just enough to survive 3 year bear market. Then I'm probably going to put that money back into bitcoin end of 2026 if we see a new market bottom there. I think when I retire and live off my bitcoin I will stay active here and maybe make some update posts on how it is working out. In the worst case I can still learn something new or go back to some old work, no problem.

Infamous-Sign1856

If you think of BTC as you would any other volatile asset in your portfolio, no FIRE / retirement financial calculator is going to recommend an allocation over 3-5% to volatile assets. People here are obviously going to be of the opinion those models are missing the entire fiat risk.

SouthernGoal4836

This topic is talked a lot about in FIRE. Long before bitcoin was a thing and I was just focused on pumping as much money as I could (about 50% of my gross income) into investments by maxing my 401k/Roth/and saving more I told myself I would only need to do this for 4-6 years at an excessive rate. After that I could lower my saving rate to 15% because the money saved over that 4-6 year period compounded at 8% a year over 30 years would be enough to retire a multi millionaire. After I did this in my late 20’s it took me a few years to really start saving less and spending more. When you are so laser focused on doing one thing (accumulating assets) it’s hard to pivot. I only wish I was accumulating bitcoin 8 years ago instead of stocks but I’m not complaining. When the bitcoin ETF’s dropped it was just a couple button clicks for me to get a size able allocation. Right now 50% of my 401k contributions and 100% of my Roth goes to DCA more bitcoin but I am living life right now and only saving 20% of my total gross.

Creepy_Quote_1787

Okay so let me ask you this… in the spirit of having a productive exchange… why do you think thousands of investors choose Aerobud as the “next big thing”? Because of what makes them different. And what makes them different? The fact that Aerobud is the first meme coin on the Base block chain to ever incorporate a charitable wallet (which they actually use) to support animal shelters across the world (ex: the Pasadena Humane Society, Sky Sanctuary Rescue, Austin Pets Alive, Four Paws, and more). This is REAL WORLD utility. How much do you want to bet, people bought in just because of that? I understand that not everyone will get it… and I’m not counting on it… because in today’s world it’s hard for some people to see how charity can equivalent to profitability but, Aerobud is quickly proving that the two coincide. Also, not everyone is interested in chasing the pumps. A lot of people get burnt. Especially on the degen chain Solana. If you’ve done any amount of research, you already know that “believing in something” is the motto of this meme coin super-cycle. Ask the thousands of investors who are invested in Aerobud. This project is on FIRE 🔥

968Driver

THESE GUYS ARE ON FIRE!! DID YOU SEE DURR STUDIOS JUST DROPPED THE OFFICIAL MUSIC VIDEO AND A COUPLE OF NEW SINGLES TODAY?! HIT THE TG, THE PLACE IS HILARIOUS !!! 🔥 TG: Official\_Durr

NashDaypring1987

4% sounds a little aggressive. I would worry about burn down. Keeping in mind the E in FIRE, you might have many years of burning. Then there's that inflation thing which goes back to the "Early" thing... compounding is your enemy now.

hereforthefundoc

On this topic, has anyone have a spreadsheet that kind of estimate FIRE with BTC?

Federer107

OP is clearly talking about FIRE and he doesn’t know it.

burner338932

No, but i already did with double that. Do your FIRE calculations then decide

bames53

If you can get 4% interest income on $7 million that's $280k. $280k puts you above the 97 percentile. I think top 3% puts one well above 'middle class.' It looks like the "fat FIRE" people use a benchmark of at least $2.5 million total investments, or income of $100k/yr.

MinimalistMindset35

Bitcoin only. I am a Bitcoin maxi for a reason. Bitcoin has enabled me to FIRE. Bitcoin is the greatest opportunity of our lifetime and altcoins exist to muddy the water so retail can’t see it. There will be a huge opportunity cost to not adopting bitcoin early. Bitcoin is at 103k before central banks have even bought any. Bitcoin is going to 1 million whether you get it or not

topthegooner

Do something like a Barista FIRE... without any financial pressure

Pretend-Hippo-8659

FIRE hard mode, or just buy BTC and relax lol.

Huge_Monero_Shill

Full FIRE or what's the point, imho.

JohnnieTimebomb

I feel like BTC is my best shot at retiring early without having to live off dry crackers and tap water in the meantime. But good luck and godspeed to our FIRE friends nevertheless

CHawkeye

Yep I’m on FIRE but btc is alongside other long term investments. Just dca and chilling for 15 years then I’m out.

Captain_Planet

Funny how Bitcoin has been the easiest and quickest route to FIRE, but these morons prefer sitting at home eating noodles for 30 years instead of having friends.

Dr_Chym

I feel that …. Try the FIRE sub… I mentioned BTC once in there, since my BTC is getting me ready to retire early… holy crap … I feel like every downvote found my house and egged it. For a group of people trying to be Financially Independent and Retiring Early… they make it real hard to do so without BTC. Like playing contra w 3 lives… do the code, win the game.

968Driver

We're here to work and build the best community, this project is FIRE!!

stoneddemon7

🚀🚀TEMA IS ON FIRE🚀🚀 Six Updates! 1) New cover photo for Australias largest crypto group! https://www.facebook.com/share/p/1aQ4jorfiK/ 2) Listing on MEXC imminent! 3) A video for Tema made by the same team who made the Litecoin video is underway! https://www.youtube.com/watch?v=JMTJvXyHJGU 4) Worlds largest german Crypto FB group in negotiations for a takeover 5) In negotiations with Kucoin and Gate exchanges 6) The community has purchased 600 boosts on dexscreener and 200,00 ad impressions!!

rolledoutofbed

Up to a point. To get to fat/chubby fire takes risk, unless you started off with that amount already. Average person can FIRE with a normal salary and moderate savings, conservative expenditure.

CryptoFever911

4% rule is for inflationary assets, most of r/FIRE folks know their stack may run out after 100 years or so, but in case of Bitcoin op was saying infinite as it will out pace everything and you will never run out of sats.

Wirelessness

Please explain how your money expenses can triple in five years? You should post your answer in r/FIRE since every single person in the history of retirement has never planned for or ever seen this type of expense spending increase. Sure, a medical catastrophe could cost tens or even hundreds of thousands of dollars but that expense will not persist in perpetuity through the rest of your life. Inflation does not triple the cost of everything every 5 years.

Difficult_Pool_5608

I would agree with you, I would just suggest to not take from it until the 1 BTC is worth whatever your FIRE number is.

headphase

OH MY GOD WE'RE HAVING A FIRE 😱 sale 😏

beerdybeer

FIRE 🔥

cannedshrimp

This is a FIRE question not a crypto question! As long as I am saving I will be saving in Bitcoin. I won't start spending until I start net spending all of my assets because I retired. Before then it's pointless to convert BTC into USD at any price point when the dollar is melting.

Average_HOI4_Enjoyer

Explain instead the FIRE investment philosophy, it is quite similar and easier to understand, because usually people are more familiarize with stocks

Jaded_Many7515

Most common (including myself) is getting the phantom wallet, buying SOL, and swapping for anarchy🔥 GYPxyPtu6g1NmnEPPkTcCdSZz7ZMs6A1S3wTjnLdpump WELCOME TO THE FIRE!! 💪😎

penty

Took a non Bitcoin related sabbatical in 2014. Due to the halvings cycles I moved up to leanFIRE to regular FIRE. This cycle will definitely be FatFIRE. First buys were in the late 2012-2013 era. Current cost basis is ~$3600.

instant_king

You can research about FIRE and Coast FIRE, barista FIRE etc. This all depends on how much you spend.

TxTransplant72

“Go F yourself” is the equivalent of ‘bon voyage’ to those in the FIRE community. It’s meant purely in the best of terms!! (Often uttered by those not net FIRE’d, so try to work in a hint of envy or dismissive ness when you say it out loud!)

Jaded_Many7515

WE ARE THE FIRE

Jaded_Many7515

WE ARE THE FIRE

onpch1

One thing FIRE people have going is that they put money away regularly. Over time, even without investment returns, that sum is going to become substantial. Overlay it with investment returns and compound that year after year, even if it's only 9% and 30, 40 years later, it's a couple of million.

racecrack

I actually prefer the price to be as low as possible for a couple years more if we can, have FIRE plans brewing.

SezitLykItiz

Yeah I’m an idiot because my cost basis is 400/coin and I am not selling till it reaches 1M/coin, and even then, I’ll be selling 4% a year to support my FIRE. Because guess, what, my credit card bill will need to be paid.

LegendaryJohnny

After stop losses I was out on sidelines and was feeling huge fomo today. But I told myself HOLD FIRE, Burgers will pump and dump from 15.30 to 16.30 CET like they usually do on fridays. I was right. But fomo is real.

hillary-clinton-

FIRE and bitcoin? theyll have u shot dead for any mention of bitcoin over there

originalrocket

As a bitcoin Maxi I suggest only bitcoin. But as a member of the FIRE community. NO! Split it 50/50 at least into a quality stock(s) such as SCHG, VOO. You need to hedge your bet, you will never hit the peaks, but you will never hit the valleys too. Protect your future.

Mr_Pink_Buscemi

It’s that easy yeah? My strategy has a cost basis in the low 20s, which has helped me reach FIRE status at a young age. I don’t have one story, ONE STORY, in real life where an altcoiner made life changing money. They all turned out to be losers.

racecrack

Don't forget to take into account that you will be eating it slowly, you are not cashing out all at once in the 2029 peak, right? For the sake of this calculation example I will make the following assumptions: 1. BTC doubles in price every 4 year cycle, but will be worth considerably less in between. 2. $75K before tax covers 1 year of expenses (ignoring inflation for sake of simplicity, of course it impacts) So, let's say, you have 1 BTC at $600K in 2029. You take out 0.5 ($300K) to cover next 4 years of expenses, assuming you rather not cash out during winter times. Next cycle 2033, things are doubling again. You only have to take out 0.25 ($300K) to cover next 4 years. 2037, exit 0.125 for $300K 2041, exit 0.0625 for $300K Anyway you get the drift. Actual numbers will vary of course, this is just roughing it to illustrate the concept of an exponential growth over time, and you hacking away in portions instead of all at once. Kindly note that the sum of these exit portions never reaches 1 full BTC if the 4-yearly doubling pattern continues, no matter how long you live. Having said all that - if you have the potential now to work hard and build up to 2 BTC in the coming 6 years - by all means go for it and live that much more comfortable life with a lot less worry and a lot less calculator in hand! It also will make your plan that much more robust to the likely possibility of diminishing returns which are bound to creep in on that exponential curve at some point. I'm personally aiming for FIRE by 2033 based on my own numbers and sat stacking capacity.

onpch1

In 6 years?! let's say you need 3M, then 4 btc, so that's expecting 8x from here. Make it 5 btc, because you have to pay capital gains tax. But how old are you and middle class where? If 50, 3M (after tax) would work pretty much anywhere. If closer to 30, you would probably need more because of inflation. But also, this depends on how you invest (the proceeds from btc). Hey, maybe you can buy Bitcoin Go check out s/ FIRE

HotStaff4166

You're screwed both ways. If you don't sell, you're screwed in the short term, if you sell, you are screwed in the long term. I would not sell, get divorced, pay her a little bit of money, and enjoy FIRE in 15 years...alone, or with you shine 20y younger girlfriend.

MasterSaturday

My dude, having $2K in the bank, a steady paying job and a *house* is far from broke. This is your only post on this account and I'm not "curious" enough to dig through to find whatever story you're talking about, but going by the info here you had a sizable amount of money and equity at your disposal which you converted entirely into crypto, an extremely risky move that happened to pay off... for you. Not to mention your cash flow was apparently enough that you saved up another $4K within the year to buy another BTC, and you were more than willing to withdraw from your retirement account to play with that money as well. Don't get me wrong, I'm very happy for you and I wish you an enjoyable FIRE life. But don't mislead people here to think it's that easy, because you're glossing over some important details.

kepjoooo

Same here, a similar story but with a bit more diversification. Still, I feel depressed and worry about money. It’s frustrating. In a hcol area, $1M doesn’t go far. I’m grateful overall, but honestly, I can’t wait to FIRE and leave this soul-crushing day job and the pointless drama of coworkers, stuck in front of this machine all day.

Clearly_Ryan

To all the idiots that smack talked my Bitcoin thesis at 6k USD in /r/investing, /r/personalfinance, and /r/FIRE, I told you so. Networth is now just shy of passing north of 8 figures.  Thanks for all the downvotes and banning my alt 5 years ago when I talked about Bitcoin seriously as an inflation hedge and a long term vehicle for capital preservation. And have fun staying poor. 

heinzmoleman

You ever pass by a nice house in a nice neighborhood and you say "oh yeah they have money" that's where you'll be my friend. Even in Today's world there are different levels of affluence. There's FIRE level and then there's Jeff Bezos level

kisscardano

FIRE here. Well said, mate. If people were on our level, they'd be sipping cocktails on a beach right now. But no—these clueless wannabes think they're smarter than us, dumping their McDonald's paychecks into trash-tier coins destined to crash. How do I know? Because I was once naive enough to try those garbage coins myself—and yeah, lost 80% of my money. But unlike them, I learned, adapted, and leveled up. They're still playing checkers while we're mastering chess.

Individual_Refuse_30

What did you expect coming to Bitcoin reddit asking if you should invest in Bitcoin, LOL. Make your own research and financial decisions, do not rely on random internet people. It's like walking on the street asking for financial advice from homeless. Fr man. Bitcoin prices are highly volatile, which might not suit a FIRE plan focused on steady, reliable growth. Nobody here, nor anywhere else knows what will happen. We want BTC to go high but NOBODY knows. Are you willing to risk your 150k? Are you ready for a scenario where you put in 150k and BTC crashing 50% down? Would you keep the money or take out at huge loss? What if bull market is over?? (hopefully not) Are you willing to keep BTC and DCA over next years until next bull run? How can anyone make such decision for you??

GrumpyScroogy

I have made my money already. Fully FIRE. I dont need to bother anymore with swing trading. Doesnt take away from the fact that your narrative is still wrong for the other 99,99% who are not at that point yet. You felt confident enough to blurt out blatant lies as facts, cause you have studied enough cycles. You can figure it out your own. I will tell you though, fact people like you are blindly upvoted says a big deal about what stage of the market we are in. GL

CompletelyRandy

I have loads of ransom coins in my wallet, which have just been dropped onto me. Most of them are scams where you have to essentially buy something else to sell them. So I just ignore them. Saying that, I did get dropped some FIRE coins years ago, from memory I had two of them. Sold them for $300ea or something stupid. Free money in that case!!

racecrack

100x in 11 years, that's pretty nice. Looking forward to the next 11 years. Should be about ready for FIRE by then.

Ok_Comp1

DCA for a decade then r/FIRE with whatever else I also have in regular funny-money

Warrlock608

It seems that the previous cycle's high becomes the current cycle's floor. My guess is in 2026-7 bitcoin dips to like 55k and we start all over Those who have stuck around will scream FIRE SALE and those who are still afraid to dip their toes will scream "I AINT TOUCHIN THAT SHIT" and then in 2029 when bitcoin is around $600,000 we will be having this same conversation.

JuliusEasier

Only FIRE members are allowed purchase. To quote George Carlin “it’s just a club and you ain’t in it!”

w1nn1ng1

I worked with a man who had just turned 40. I was checking my retirement and he was curious how much I had. At the time I was 38 and only had around $100,000 saved and felt behind. He said he only had around $8,000 saved. Having that much at 26 is insane and you’re well on your way to FIRE (Financial Independence, Retire Early).

Objective_Topic2210

On any FIRE sub if you talk about Bitcoin / Crypto the typical response is “may as-well put it all on BLACK!!!”… lol your loss I’m going to FIRE earlier than them because of crypto.

Slave4Billionaires

I'm FIRE at age 40 bro, I don't NEED to do anything. 5% of my portfolio is diversified into crypto I could lose it all and I still wouldn't have to work. You have lots to learn. Fools cheer and hope...winners calculate. Maybe someday I'll see you on top with the rest of us.