Re discussions of selling, then "enjoying new lifestyle".
Everybody's situation is different.
I am in a urban environment with huge RE taxes.
I can survive on, say, 70K a year, but anything less than 100K a year would be a strain, really, with 150K being OK to good (with a couple vacations/year), anything more than that could be used for whatever (investments, etc).
Based on this, $1mil is not really a change in style as you don't really want it to be gone in 7 years, right?
People keep talking about passive income. I have no idea what it means as with current bond yields passive income is something approaching zero.
If you are talking about stock appreciation OR sale of your assets, than it is not a passive income.
I would imagine that in SanFran or NY anything less than 200-250K/year in income is a strain.
Conclusion: I cannot really count on btc being my only money supply until it reaches much, much higher levels, which probably means that I have to work...and work.
P.S. and OT: Dan Morehead (whom I respect as btc investment visionary) thinks that defi will do 100X before btc will do 100X. I have to idea how he came up with this (maybe simply going from lower base).
Unfortunately, it is completely unclear who the main player(s) would be and/or how many (or if it would even work). I took a look and some of those tokens are up 30-100X in the last 6-9 mo.
Entering now without a clue of how it shakes out is kind of idiotic, so a pass for me. Should have thrown a thou on some a few mo ago...oh, well.
Hahaha, we are living on different planets. My yearly expenses are like $7k-8k. If I move to the most expensive sea resort and each evening we are eating at restaurants, visiting events, etc. the expenses would be $12K-15K. That is the change I want for starters. And $1 mil will be enough (if I don't buy expensive house, lambo or yacht) for ... 66 years lol
$12-15K/year with lavish lifestyle-amazingly cheap.
I did some research on relocating in retirement-not many choices. In Europe, mostly Portugal and Spain where $50K should be enough, but I would have to learn a new language.
All English speaking countries are expensive, sans Belize, probably, but it is hot in there and i would like to be in a moderate climate.