How to retire with #crypto, a thread for those wanting to escape the rat race!
1 First you need to determine how much you need to retire. Classic calculation is 25 X your annual expenses based on withdrawing 4% annually. IE your expenses are $50,000 a year then you'll need 1.25 million. Just 1.25 million, I'm sure you all have that laying around right?
I do want to point out though that this total amount saved could be a lot less since rates of return are so high in crypto. IE 250k in Anchor would give your 50k a year passive. Still though the more the better.
2 Here's the thing though. Getting enough for retirement whether early or later is not an overnight endeavour. It requires time and patience.
2.1 The most common way to save enough is by cutting the fat.

example:
Buying takeaway coffee every day for $5? Stop, you will save $4.80 a day making your own at home. Take that savings and invest it! 4.80 may not sound like a lot, but that is $1,200 a year!
2.2 Take spending optimization seriously. Review your budget and ask yourself the hard questions. The more you can invest sooner the more likely it will be that you can "retire early".
3 Now that you have saved more money you need to invest more money!

The simples way to do this is to dollar cost average into safer cryptocurrencies like Bitcoin, Ethereum, Chainlink, Aave, ETC. This is the time in the market versus timing the market approach.
3.1 The younger you are the more risk you can take. But don't take on too much risk no matter your age, you can flush a year of home brewed coffee savings down the drain in minutes on leverage trading, meme coins, and degen defi.
3.2 That being said altcoins represent the best chance to see massive returns on your investment. I'm talking 100X gains here.

BUT, you must remember that many altcoins will not make it long term.
3.3 Quick tips.
1 - Keep position sizing low on high risk plays. 1 to 5% of your crypto portfolio is enough.
2 - Take profits when high risk plays pump. Get your capital out. Move high risk money into low risk plays like BTC.
3 - Keep a moon bag, just in case ;)
4 Create passive income! We are spoiled with choice in crypto, there are so many good ways to earn a passive income it is crazy.
4.1 Lending via centralized services is one of the easiest ways to build passive income with your crypto. Basically just set it and forget it. Blockfi and Celsius are the most popular providers.
4.2 Yield farming is "passive" income. The rates can be really really good. But often you need to move from farm to farm as rates constantly change. Some more solid defi plays are Bancor, Yearn, and Thorchain.
4.3 Staking can generate some good annual returns as well. BUT in order to make this really work for you remember the following.
1 - Get in early
2 - Always be staking
3 - Only stake quality coins
4 - Compound as long as you can
5 - Understand the long tail rewards curve
4.4 Stablecoins are your friend. APY on stablecoins can range from 7% to 30 or 40% depending on the platform. At 7% it takes 10 years to double your money. Anchor is currently offering 19.5%. This doubles your money every 4 years!
5 Realistically you probably don't want to depend 100% on crypto. Blasphemy for some I know. But I am building a big and diverse stock portfolio. Any sane investor will also consider stocks and real estate for a retirement fund.
6 You may not know this, but if you're rich you can go and live anywhere. Thus, you may want to explore if your retirement whether early or late is best done in your home country. You may get a better quality of life, for much cheaper, and incur a much lower tax burden elsewhere.
6.1 This goes back to our first point. Because while you may have $50,000 in expenses now, you could have half that in another country. Here is an interesting article about tax free or low zones where you can potentially buy a passport. cointelegraph.com/news/former-pr…
7 Final thoughts. "retiring" on crypto in your 20's or 30's or 40's or whenever is indeed possible. And you can do it, just be aware that risks remain and you need to keep a calm rational investor focused mind set to make it happen.

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More from @TheCryptoLark

6 Jul
Later in July, starting from the 13th Grayscale will begin the unlock of around 41,000 #bitcoin worth of GBTC shares. But WTF does this actually mean and should you be worried.

You need to read this thread!

👇
1 - FUD master in chief JP Morgan is saying that it will dump BTC to 25k. I tend to never believe what these criminal financial terrorists say as a rule of thumb.

cryptoslate.com/jpmorgan-says-…
1.1 Celsius CEO Mashinsky thinks it will cause a big sell off. BUT his maths are epicly badly flawed. He says 20 billion (570K BTC) will be unlocked which is categorically not true., it is 41k BTC. Sounds like someone is shorting or highly misinformed?

Read 20 tweets
6 Jul
#ethereum London hard fork is coming soon. Here's what you need to know.
1 - It may not actually be soon. lol. Ethereum man... Anyway, the core devs are meeting on the 9th to discuss the release. It was originally scheduled for the 14th. August 4th is now being floated. Could easily be pushed back months.
1.1 By the way, there is no fork coin to claim. You will also not need to do anything if you are using a regular wallet or exchange account. Those running nodes will need to upgrade.
Read 9 tweets
1 Jul
How much #bitcoin do you need to get rich? Can Bitcoin still make you a millionaire?
1 - Well, first, let's face this fact. If you can afford to buy 1 BTC today then congratulations you are rich! 1 BTC is worth more than the average annual income of the majority of the world's citizens. worldpopulationreview.com/country-rankin…
1.1 So getting "rich" from buying BTC is highly subjective. But one thing is for sure in my mind buying BTC is a way to ensure I don't go poor slowly with fiat.
Read 11 tweets
30 Jun
While the #bitcoin #crypto markets are going through this "meh" phase, I remain as bullish as ever on this asset class!

Here are some reasons why the entire crypto market will rise to be worth tens of trillions this decade!
1 - We're seeing an unprecedented phase of adoption by finanical institutions. Major banks are now letting customers buy and sell Bitcoin. NYDIG has built relationships to allow almost any US bank to offer Bitcoin. Paypal now providing services for over 300 million customers.
Meanwhile in the US alone around 16 trillion is sitting in low yield bank accounts. You know that some of that money is going to find its way to crypto especially since it has never been easier to buy! cnbc.com/2020/06/21/ban…
Read 12 tweets
28 Jun
#bitcoin will go on to rival the market cap of #gold this decade. That is a 15X from the current price, which will give a per unit price of $550,000 per BTC.
Bitcoin is the new gold, the gold for internet era. One of the world's richest men Ricardo Salinas Pliego agrees
While gold has been used as a store of value for thousands of years, there are various features which make Bitcoin the superior asset.
Read 12 tweets
21 Jun
If you want to get rich with #crypto with a higher degree of certainty then you need a longer time frame. Here are a few ideas.
Learn how to dollar cost average into fundamentally strong coins. If you had bought $100 of BTC every week since the 2017 peak until today you would be $80,000 in profit.
Understand the power of compounding. Coins like Ethereum, Polka Dot, and Cardano offer staking. This allows you to stack more coins using your existing coins. This can be HUGE!
Read 9 tweets

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