I personally believe that we can live quite improved lives with BTC as our wealth, and it may well be quite likely that the BTC value will grow way beyond our spending pace, so if the BTC is allowed to compound in value a few more times, we may well end up with way more wealth than we expected, which may well allow us to go from spending wealthy and wise and into higher levels of extravagance.
It is like going from entry-level fuck you status (FIRE status), end then getting to a point that is multiples higher than the entry-level status, and then perhaps being 10s or even 100x higher than the entry-level fuck you status at a kind of filthy rich status, which some of those higher levels can come without necessarily having to work hard at it, but just living within one's means and allowing the value to continue to compound, which so far in bitcoin's history, it has compounded many, many times...
bitcoin will compound at far better rate than any bank account interest rate or portfolio manage stock options.. its just picking the target amount where the compounding is growing more then the withdrawal, to decide whats the best number to find sustainable living amount to then retire and enjoy it
can i just offer some advice.. the whole 'fuck you status' of just extravagance/burning money 'cos i can' gets boring quick..
From my perspective, there are varying levels of fuck you status, including the bare minimum of being able to choose not to work. There is no need to read fuck you status beyond that, even though surely I would concede that even being able to refuse to work full time and only to work part time, could be considered a moderated fuck you status that might ONLY be possible if enough savings/investment is built up to allow for an ability to not be forced to work full time based on having to have enough income to support yourself and your chosen standard of living.
dont plan on a wasteful spending as it wont make you happy long term
Wasteful is subjective. Surely if you are still in early stages of fuck you status, you might not have as much room for extravagances, and I think that I already mentioned that if you happen to have multitudes or even magnitudes beyond your entry-level fuck you status then you are going to have more room for extravagances that may or may not make you happy long term and/or short term. I doubt that you can proclaim what might make another person happy and what the limits might be for another person.
it only lasts as long as driving a car out the showroom and on the way home seeing someone with a car thats better than yours (less than a couple hours)
Yeah, maybe a guy might not like hookers, lambos and blow, but another guy might. Whether he does it daily or just once in a while, he may or may not feel fulfilled.
where your then already thinking 'maybe i should have bought that one instead'
dont get into that consumerism cycle or you'll just ends up spending it all just to act like the top man
You may well be correct that some kinds of consumer items might end up causing a lot of work... for example getting the yacht might have to involve a whole crew, and then supervising employees, which might not be as pleasurable as imagined.
i actually enjoy knowing i can buy any car, any house.. but just not needing to.
That is true too.. especially there could be quite a bit of work in buying a new house or even a mansion and then getting management systems in place might be problematic too.. including that if you might get some managers who are not honest.. that would likely cause additional work, too.
the peace of mind of not having to worry about money is the essence of F.I.R.E, its not about buying crazy things 'because i can'
its not about forced frugality either
people think they can only retire in 2 extreme circumstances:
a. super bill gate/musk rich with the need to buy 10 mansions and 7 lambo's
b. enough to live on bread&beans, to stay home watching tv repeats
You are devolving into strawman arguments now, even though surely some people do think without realistic expectations.. including that many of us can be rich and/or even have rich sensations by merely having options and making sure that we are living within our means... whether we have a $1 million per year income or merely a $40k per year income... if we our expenses are less than our income, then we likely are rich, especially if we have chosen to live that way and if we have the choice whether or not to work rather than having to work.
but f.ir.e is about enjoying financial freedom of not worried about money
in short, once you reach F.I.R.E status. your mindset will change about whats important to you. rich/extravagance gets boring.. you start to want to have and explore experiences, not shiny objects. you live comfortably worry free
That may be true that the main point is having options and not having to work, yet people may want some shiny objects, too, even if some of the shiny objects might cause some work to get, to maintain and to enjoy... so for example, if I get a nice boat, then I have to figure out where I am going to store it, and whether I might need to transport it. Can I drive it myself or do I need or want help, and various decisions that may well need to be made and perhaps even questions if there are other people who might help to arrange some of these matters or do I have to do them and arrange them myself.. including keeping track of the finances or the various people involved or even my own schedule in regards to when to do the stuff and with whom.. and is that how I want to spend my time.
if you want to work so be it. boom you are no longer retired.. end of story. you are now employed and not part of f.i.r.e
debate ended(not sure why you are even debating going back to work in a f.i.r.e topic while still pretending you want to be in f.i.r.e)
you really are scratching at debates which show that you are not understanding f.i.r.e
by you saying you want to enter f.i.r.e at some entry level FU status and then realise you want to buy many shiny things so need to go back to work means you are not ready for f.i.r.e
your mindset is not yet ready for f.i.r.e
to truly be in f.i.r.e you need to be at a
financially independent status to
retire earlyso again if your not at a financially independent status and then not want to retire.. you are not in f.i.r.e... its that simple
my point is that i can easily afford to buy all the shiny things... but my mindset has changed where shiny things have become boring and non essential to my happiness. i prefer to use my funds to buy experiences and meaningful things
my point was simple.. you get to a certain mindset where you no longer worry about money (fu status) where you no longer play the consumerist game of trying to impress the jones by stressing about what others think
its not about forcing yourself to live without things you want in some forced frugal living situation.. its about the mindset of being financially free to buy what ever your want but just not needing to spend money/burn money
if your still stuck in the worry and stress of money and impressing people.. your not ready for f.i.r.e
years ago i never understood why warren buffet doesnt have hundreds of vacation homes and car collections.. but now im financially independent i now see why having the latest lambo is not that exciting anymore
can i just say, even bill gates, elon musk, warren buffet are at FU status, but because they choose to work they are not in f.i.r.e
if your mindset either worries about money or you choose to work as a hobby. you cant be in f.i.r.e.
the acronym is pretty clear about what defines f.i.r.e.. and when you are finally ready, you'll know it
...
heres a little lesson for you shiny thing lovers
when you want that $400k lambo to impress the women walking on the sidewalk.. you soon realise when driving such a vehicle you are then stressed about scratching the base of the lowered suspensioned car. so you are now driving it slower than usual and your eyes are on the road watching for potholes and speedbumps.. so no longer enjoying the cruising down mainstreet during the nightscene of nightclubs and women. you no longer have the opportunity to just look out the side window to enjoy the view
you instead later learn to buy a $200k car which can afford you to pay a chauffeur at $50k a year, so you can sit back in the backseat and look out the side window at all the 'totty'
when you want to wear the most expensive suit and wear the most expensive rolex, driving the most expensive car. you begin to worry about getting robbed/kidnapped, so would then worry about security and hire a bodyguard. but then your body guard starts dictating your actions and guiding you..
you instead later learn to just wear whats comfortable as impressing people turns to worry/concern of what they will want from you. so you dress casually to just go about your day without drawing attention to yourself
all im saying is when you truly reach that FU status.. f.i.r.e status and experience it. you will learn lessons and your mindset will change.. i was simply trying to give you a heads up that things will be different to your current plans