We've all thought about it.
Thinking to ourselves what if BTC really does go to 100k... or STEEM to 100. What would we do if we hit our personal "moons"? Now, for some of us, that time has already come.
However, for most of us, we still quite a ways away! So I'd love to have the chance to theory craft a little bit here. What would you do if the crypto currency you owned was able to afford you the lifestyle you’ve always envisioned? (and I guess this question really boils down to what would you do if you won the lottery) but I’m talking about making a few 100k - million here, not the powerball!
So I’ll start!
First off, I’d want to go ahead and pay off some college loans. But thanks to grants and scholarships, it really is a drop in the bucket in the grand scheme of things.
So first step real step is to establish some sort of passive income. Now, I have my series of side hustles which have accomplished wonders in supporting myself throughout college…. but all of these things have defintely been one off “schemes” that can only sustain for the better part of the year. So in being responsible to myself and family members which I support, I’d go ahead and purchase some property and begin renting it out.
Ok. Now we’re making a modest, but livable $3 - 4k a month in a rent. That can pay for rent, food… the essentials, and help supplement my mom’s rent. Financially, I think I’m stable.
Now what? I think the hardest part about coming into a large sum of money is the question: “what the hell do I do when I’m stable”…
I’ve basically spent my entire life financially insecure, working part time jobs, selling random shit to support my mom and get through college. That part of my life is over, but in retrospect, I remember that I’ve been so focused on just achieving financial security, that I haven't really paid any mind to what I’d do if I got there.
So I’ve put some thought into it and find that there are two major points in finding value to life after finances aren’t an issue.
Point 1: Don’t just stay at home and watch TV
There’s no easier way to atrophy both body and mind than just staying at home doing nothing. Go out an exercise. Get a pet. Build something! If finding a DIY project isn’t your jam, there are awesome local programs to be a part of.
You wanted to be a doctor, but said it would take 8-10 years and really needed some money? Well now’s the time. If you’re diligent about it, you’ll spend 2 years in a post-bacc pre med program, take the MCAT, kill it through 4 years of med school, experience 3 years of residency, and BOOM, you’re a board certified M.D.
You always wish you could build software? Well nows the time to pick up that coding language — no matter the learning curve. For the first time in your life, time is on your side.
Perhaps your destiny is in teaching? Be free and get your Masters in Education and do the thing you’ve always wanted to do!
And the list goes on… and on…. and on...
Point 2: Stay part of a community
Find a community/cause you really care about and help to grow it. Develop the community. This is really an extension to point 1, but I feel as though reaping successes for just yourself would get tiring after a while. And no matter how much you make personally, experiencing some sort of success with others will ALWAYS trump personal success.
Now if you’re reading this post on Steemit, than that chosen community might be a crypto community. It grows everyday, but it’s growth is defintely something that happens online, with only rare conversations about the subject happening with those around you. So take the time to try localizing a community you cherish! One of the things I envision (given my background in building local communities for eSports) is having community gatherings in my city, where we can help develop each others’ ideas.
Don’t get me wrong. The online community is great! But, how awesome would it be to be part of a local forum of blockchain enthusiasts who are able to have conversations of how they’d like to get together to build something within this space, while capturing the trust and commitment of people you meet locally? If silicon valley is an example of how proximity matters in developing technologies, then I think it should be exciting and necessary for LOCAL communities to get together and discuss what ideas they have on the back burner to see what resources they need to make amazing things happen.
Now, I'm not the greatest judge of character, nor is it my place to tell anyone what the hell to do with their money or life I'm just writing this as what I believe to be a reasonable set of responsibilities for this community to uphold should good fortunes come our way.
I hope my perspective on the situation resonates with at least some people! And I’d love to hear what you’d do differently. And the things you feel valuable to do with your money.
As always, thanks for reading.
I would go traveling for at least a year. Probably starting with driving my motorbike around South America : )
Excellent. It's on my bucket list to visit angel falls one day
I’ll be happy if you become a millionaire.. it will means that I’ll be millionaire as well haha
Then looks like we're in the boat together, brotha haha!
Interesting read. I like the idea of securing a passive income as a basis.
I am a content creator myself. Thanks for posting this!
Please check my thoughts on a crypto currency ecomomy. @weddingdresses
Absolutely. I think passive income is key to securing any form of financial independence for the long run.
And will do! :)
Thanks. You got my follow.
I would build a diversified Portfolio and try to get a monthly regulary income. I think my lifestyle won't change to much. I don't need this Lambo to be happy. Riding a Jet Ski should be fun enough. :-)
Happy to hear! Hope you start raking in those dividends soon ;)
While a house is great passive income, since real estate has always appreciated in value until the crash a decade ago, stocks also offer a great way to gain passive income through real estate if you don't want to put up so much money. The best ones are REITS, which are high dividend yield real estate stocks, and they give 10-13% in dividends a year.
Yep yep. I've got some stashed away in REITS right now. They've been good to me ^_^
To be fair bitcoin has many flaws it's tx are way to slow................ and it's mining consumes huge amount of electricity too and man it's fees are so high not many can afford the fees of btc and to me........ the best crypto right now on the internet is steem it is super fast like rocket it has no fees.............. and it consumes very very little electricity too and what more it can be mined with the proof of brain and proof of stake and it has zero scalability problem, it's wallet is also super secure............... if for x reason we lost our steem wallet key steem give us option to recover it too, steem blockchain continuously developing and new interesting platforms are building on top of steem blockchain regularly................ so to me steem is the future crypto and we surely see more growth in steem soon.................. thanks for sharing your nice thoughts with us, Stay blessed...................
wow even you also donate your steem doller to the poor people.nice thats great.i saw your image.thank you very much…