I'm hijacking your topic, because of an expression you used. What does it really mean "living like a millionaire"?
I had a conversation a few days ago with someone, and he was of the opinion that the more money you have the more exclusivist your lifestyle should be. "If someone is a millionaire and goes on vacation in the same places as I am, than he lives for nothing." he said. And he isn't poor either - middle-top management, well paid.
I ended up wondering if "I'd live for nothing" if I'll ever become a millionaire from crypto, because I don't believe my lifestyle would change significantly. I don't feel the desire to show off my status, but probably many would.
Usually, money changes people a lot... If we take a look at all these famous celebrities who weren't rich before, their lifestyle changes a lot... But, it's true that among them there are not a few who can't bear the pressure... Then we see suicides, drug problems, etc...
I did think about those things, changing a lifestyle... You are earning more, you sell your Dacia and buy a Porsche... But, the main thing is if you do that, you should have enough money to maintain that Porsche in the future... I saw numerous examples in my surroundings that have done that mistake... Bought a huge house on mortgage, counting on their ONE source of income for the next 30 years... Or, again, buying a car and after a first problem, can't pay for a repair, leaving the car in a garage for years...
I think the same, but it's easy to say when you are NOT there... :) We think that we are STRONG that the money wouldn't change us, but we can't know that... I hope we will be tempted to test it... hehehehe
!PIZZA
Maybe if I were be in my 20s, the risk would be higher to get a big ego and start throwing money left and right. You are right, we can't know until we are tempted. But we are usually tempted in bull markets, and so far I haven't seen any sign...
if you count buying an apartment as a temptation, then I was tempted to do it a month ago... Somehow, I have calculated that it's better to keep crypto and wait a bit more... Maybe I was wrong... :)
In that way I was tempted too. And I chose the same way. But I see this more like industry hedging, at some point.