Well, I somewhat randomly picked a goal that might be a goal of someone in the west, but if you think that the goal is too high, then you can reduce the goal to your level. Perhaps $500 per month or $1k per month, and if the goal was $500 per month, then just reduce (multiply) everything that I already said by 1/10th. ... which means that either 0.5 BTC by mid 2034 or 0.25 BTC by mid 2039 would be sufficient to accomplish the goal of $500 per month, and if you wanted an extra cushion of $1k per month, then you would have to double the target amount.
Thanks for clarifying that. I am from group of people who can invest around $200 to 250 weekly into Bitcoin. In fact I am doing that for last one year and so far results are very much satisfactory. Whatever you have just invest in Bitcoin for long term.
Of course. Bitcoin is for everyone or anyone who chooses to get involved in it, and anyone who gets involved investing in bitcoin within a way that is not overdoing it, then is likely going to have some benefits from such investments into bitcoin.
The best thing is if you keep investing in Bitcoin then with time your investment is guaranteed to increase. This is what we have seen so far with the help of historical data. What differs in Bitcoin is that you don't need any sort of documents to open your account for Bitcoin investment like we need in equity trading.
So yeah, if the price corrects, he is able to buy more bitcoin and if the price goes up too rapidly then he may well not be able to get as many BTC as he thought that he would be able to get. If he is on target and overly accumulating bitcoin, then maybe that is not a bad problem to have, or maybe if he is under accumulating, he might have to change either his target accumulation level or maybe change his timeline until such a point that both the timeline and the amount of BTC accumulated overlap... and of course, he will likely monitoring these matters along the way, and I personally like to use the 200-WMA in terms of the valuation of the BTC holdings in order to give greater protections to anyone who would not be pulling the fuck you lever too soon (prior to being actually in a good financial and/or psychological place with his BTC holdings relative to his expectations for how much income he is going to be drawing from such BTC holdings.).
That would be worst case scenario that price keep on increasing and is very much unlikely to happen. In Bitcoin journey, from here to next 10 to 15 years we will defiantly see ups and downs. So if someone is investing $250 per week then its very much likely that he will be able to get good amount of BTC in coming 10 to 15 years provided he keep investing constantly. With time he will get to know that when to be more aggressive in accumulation.
It's good to have company of 200-WMA as we move with investing in Bitcoin. For last 6 months price of Bitcoin is above 200 WMA, so there may be times where you are standing below 200 WMA and that's the point where your nerves are tested. Those who can survive that test will defiantly have good ROI waiting ahead.
In recent times, I have also been coming toward thinking that a guy might not need to have as much of a bitcoin savings as he would have to have in traditional investments since with a bitcoin investment, he likely would be able to employ a higher withdrawal rate of 6-10% in bitcoin as compared with 4% in traditional investments.
Even though I am already coming to conclude that it is likely in bitcoin that we are not going to need as much of a nest egg as we need in traditional finances in order to support ourselves from our BTC stash, since in traditional investment we need right around 25x our income in order to be able to live off of our income (which is assuming a 4% withdrawal rate), and I am starting to consider that with bitcoin 10-16.7 years of income may well be enough (which is assuming a 6% to 10% withdrawal rate).. but it is still risky to overly rely on the newer models and those kinds of potential more aggressive withdrawal rates that bitcoin might be able to provide since it is more of an untested system and fairly new, so it may well be much better to rely on more conservative models and to have some cushion in the size of he BTC stash before pulling any fuck you lever that would then put you in a position where you are having to live off of your BTC stash.
I didnt get that withdrawal rate point. Can you just elaborate it a bit for my understanding. Will be grateful.