Quote from: bitmover on Today at 10:56:38 AM

Quote from: fluidjax on April 09, 2024, 07:16:58 AM

Read/listen to the book 'Die with Zero' - Bill Perkins. Working for money (or in our case, waiting for Bitcoin to go up) is a trade-off against your only real asset your life time.
Memories and experiences you have earlier in your life have greater value than the ones you have later because of the benefits they give after you have had them. Sharing and using, wisdom and memories both have significant value to your overall life happiness. (I think travel experiences often give great returns.).

Think about your grandparents, as you grow older, you will end up wanting less and are happy to stay at home, in fact, health issues mean you probably can't travel easily anymore, and this is when those earlier 'experience' investments in your life reach maturity. Bizarrely, living in the moment is an investment in your future. So the earlier you have these experiences the greater the return.
Dying with zero doesn't mean forgetting about looking after dependents or risking running out of money, but it helped me think about getting the correct balance between living in the moment and thinking longer term.

In the case of Bitcoin, for me it was about setting very ambitious objectives about the things I wanted (property, cars etc, but whatever is reasonable to you with your current BTC holding) , and when Bitcoin was at a sufficient price, and I would still have at least 50% of my BTC remaining, I pulled the trigger. (actually, my trigger price was $42k, in the last bull cycle, and I part-exited at $55K, and paid all the tax due.)
But I always live by, "Never have no Bitcoin."

I must read this book. Thanks for sharing. I agree with everything you said. Specially about experiencies. I think "buying experiences" and "buying freedom" (i.e. retiring early or getting a job which lets you live you life fully) are the two most important things money can buy.

I also made a large sell-off in ~60k in 2021... I rebought everything again lol

I recently saw a similar study , showing the age of death x age of retirement, which made me think a lot.

https://faculty.kfupm.edu.sa/COE/gutub/English_Misc/Retire1.htm?s=09

I think the study is somewhat exaggerated, but there is some truth in it.

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4. Conclusion and Recommendations

The most precious, creative and innovative period in your life is the 10-year period around the age of 32. Plan your career path to use this precious 10-year period wisely and effectively to produce your greatest achievements in your life.

The pace of innovations and technology advances is getting faster and faster and is forcing everybody to compete fiercely at the Internet speed on the information super-highways. The highly productive and highly efficient workplace in USA is a pressure-cooker and a high-speed battleground for highly creative and dynamic young people to compete and to flourish.

However, when you get older, you should plan your career path and financial matter so that you can retire comfortably at the age of 55 or earlier to enjoy your long, happy and leisure retirement life into your golden age of 80s and beyond. In retirement, you can still enjoy some fun work of great interest to you and of great values to the society and the community, but at a part-time leisure pace on your own term.

On the other hand, if you are not able to get out of the pressure-cooker or the high-speed battleground at the age of 55 and “have” to keep on working very hard until the age of 65 or older before your retirement, then you probably will die within 18 months of retirement. By working very hard in the pressure cooker for 10 more years beyond the age of 55, you give up at least 20 years of your life span on average.

The quoted study is weird, to put it lightly.
I guess..if you continue the "trend', if you retire at 30, then you would live to a 100 or more Cheesy

I found several studies that point to the opposite:
https://www.google.com/search?client=firefox-b-1-e&q=age+of+retirement+and+age+of+death

On the top of the page:
"Those retiring at age 65 or greater have an 11-percentage-point greater probability of surviving to age 80 than those retiring at exactly age 62."
The latter is bad statistics as well because maybe those who retire at 62 are simply sicker, on average.

The point about greatest productivity around age 32-this is mostly true (basically, from 27 to 37). Most, but not all of course, of scientific achievements were done roughly inthat period and if you extend it a bit more to 25-40, then probably at least 90% discoveries were made by people of those ages.

However, you don't have to retire once your peak is over...sometimes people simply move to other venues and/or teach or manage a group of younger colleagues (graduate students and postdocs).