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Yea, the figures I used was just a thumb suck scenario and probably grossly exaggerated. Most people are not as lucky as you to deduct your home loan payments for tax purposes. You from Europe? / UK / USA / Asia / Africa?
Based on last years growth of over 800% in one year from my Bitcoin investment, I would have been able to buy that house from the profit I made in 1 year.
Some people are even saying that it would be better to save that money in a Bank at a fixed interest rate.
Yea, the figures I used was just a thumb suck scenario and probably grossly exaggerated. Most people are not as lucky as you to deduct your home loan payments for tax purposes. You from Europe? / UK / USA / Asia / Africa?
Based on last years growth of over 800% in one year from my Bitcoin investment, I would have been able to buy that house from the profit I made in 1 year.
Some people are even saying that it would be better to save that money in a Bank at a fixed interest rate.
I'm from the EU... And yeah, i do realise i'm pretty lucky i can deduct my intrest from my taxes
In the end, for me it's pretty simple: i have a kid, it's my duty to make sure she has a roof over her head, food on her plate, gets a good education, can go to a doctor when she's ill... I realise that if i'd invested all my money into crypto when i first heared about it, i would have been rich by now, but like NeuroticFish said: it's a high risk investment, and i don't gamble with the health or happiness of my kid. If i'd invested everything into crypto, i could have lost everything, and by now i could have been living in a social housing block. I realise that i missed out on really big profits, but at least my kid will have a house when i'm gone
Ok, you are falling in the 90%+ category of people who are old school. The younger generation are not thinking about these things, like we do.
My cousin started working a few years ago and he has no debt. He saves up all his money to travel the world for a month, every year. He makes use of public transport and rent a small 1 bedroom apartment. We were told to acquire assets from a very early age, to live like kings when we are old.
So the way people approach live is different and the younger generation still have time to take on high risk investments.