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Re: Your pots of money and thinking long term / retirement / life after retirement
If you are not "rich", that is, you work hard for money a manage to save just some, perhaps nothing from month to month, you should be thinking about how to make sure you can live when old without being a burden for you family or having financial difficulties. If you holdled bitcoin since 10 years ago, you do not need to read any further, just enjoy. For the rest, here are some planning tips.
This is particularly important for Millenials (see graph below), as the rates of return for savings and investments are thought to be in decline.
However, you also want to life a good life - there is only one (unless you are Buddhist) - and you probably want to do things that require money. Striking a balance between these two is a little bit of an art.
How much do you need to saver? Too difficult to say in general. Some speakers and authors will tell you that it should be around 10% of your income, but if you earn little you may not be able to or if you want to retire very early you may need to do some extra effort.
First thing to be clear, you can separate into bags or pots but in reality all your money is the same. Just use this as mind tool.
b) Decide what is the bare minimun you will need each month or year to retire having the basics: a roof over your head, food in the plate and medical care. This is your retirement minimum bag.
- Figure out how much capital (savings) you would need to obtain that monthly income. (e.g. you need 500 USD and you count on having your house paid). That x12 is what you need in a year (e.g. 12000).
- You should count on getting around 4% of your saving as dividend or rental income. To produce 6000 a year that is: 150.000 USD (that's 6000 / .04). That is your bare survival minimum, so you have to save and invest enough to make sure you have it by the time you think you will retire. Savings and investments for that pot have to be super low risk while allowing you to reach that figure. You may think that you will get a pension and that will take care, but I advise you not to count on that. Just make sure you do not depend on someone else for food.
b) Decide what would be a good level of income that would grant you some travelling, leisure or whatever you would like. Let's say that is 1000 a month on top of you bare minimum. That is you wish bag. You can count for this on pension or other income, just halve what you think would be reasonable (e.g. you expect a state or private pension of 1000 per month, count only with 500).
Now you have to figure out how much you would need for that. Again, at 4% would be (12 month x 1000 = 12.000 a year, so capital should be 12.000 / .04 = 300.000 USD. This may seem like quite a bit of money (it is very personal anyway, people have different incomes).
Since you know your goal, you would now setup your saving strategy, but this time you can take part in more risky (yet higher reward) investments. This should help you reach that apparently high figure if you start saving when young.
c) You moon-shot: If you still are able to save more after your two first bags, you can now have your moonshot bag. You can choose any ammount here, and you will invest this in high risk / high paying investments (e.g. crypto). If this goes well, you will retire early and or rich.
All this requires talking about different investment styles and methods. If there is some interest I will later continue the post with ideas on that.
Just as a hint for Millenials:
What to expect from the typical S&P 500 index fund. Current CAPE is high, meaning that standard returns will not be great during the next 10 years (probably)
20 year investments across different decades:
Well in my experience before when I am employed in a company,what I thought everyday is to support my parents and as I got married we used to think for our children needs,setting it as our first priority.Now that I got resigned from my job to take care of my kids I realized that salary was always been so low and not enough so I need to Help my husband doing online selling.Therefore I realized that the time when I'm single I must have been save something for my self so that I can start my own business and help my growing family as well.This is particularly important for Millenials (see graph below), as the rates of return for savings and investments are thought to be in decline.
However, you also want to life a good life - there is only one (unless you are Buddhist) - and you probably want to do things that require money. Striking a balance between these two is a little bit of an art.
How much do you need to saver? Too difficult to say in general. Some speakers and authors will tell you that it should be around 10% of your income, but if you earn little you may not be able to or if you want to retire very early you may need to do some extra effort.
First thing to be clear, you can separate into bags or pots but in reality all your money is the same. Just use this as mind tool.
b) Decide what is the bare minimun you will need each month or year to retire having the basics: a roof over your head, food in the plate and medical care. This is your retirement minimum bag.
- Figure out how much capital (savings) you would need to obtain that monthly income. (e.g. you need 500 USD and you count on having your house paid). That x12 is what you need in a year (e.g. 12000).
- You should count on getting around 4% of your saving as dividend or rental income. To produce 6000 a year that is: 150.000 USD (that's 6000 / .04). That is your bare survival minimum, so you have to save and invest enough to make sure you have it by the time you think you will retire. Savings and investments for that pot have to be super low risk while allowing you to reach that figure. You may think that you will get a pension and that will take care, but I advise you not to count on that. Just make sure you do not depend on someone else for food.
b) Decide what would be a good level of income that would grant you some travelling, leisure or whatever you would like. Let's say that is 1000 a month on top of you bare minimum. That is you wish bag. You can count for this on pension or other income, just halve what you think would be reasonable (e.g. you expect a state or private pension of 1000 per month, count only with 500).
Now you have to figure out how much you would need for that. Again, at 4% would be (12 month x 1000 = 12.000 a year, so capital should be 12.000 / .04 = 300.000 USD. This may seem like quite a bit of money (it is very personal anyway, people have different incomes).
Since you know your goal, you would now setup your saving strategy, but this time you can take part in more risky (yet higher reward) investments. This should help you reach that apparently high figure if you start saving when young.
c) You moon-shot: If you still are able to save more after your two first bags, you can now have your moonshot bag. You can choose any ammount here, and you will invest this in high risk / high paying investments (e.g. crypto). If this goes well, you will retire early and or rich.
All this requires talking about different investment styles and methods. If there is some interest I will later continue the post with ideas on that.
Just as a hint for Millenials:
What to expect from the typical S&P 500 index fund. Current CAPE is high, meaning that standard returns will not be great during the next 10 years (probably)
20 year investments across different decades:
Investing in bitcoin is like a gamble,rich could invest more because they have money to invest in cryptocurrency..but for struggling person who only wants to serve food on the table for their family most especially nowadays that this pandemic has already ruined the our lives,then there's only bit chances that these person can spare some money of buying bitcoins now that it's value were so much big.Its not that bitcoin combatting wealth inaquality but the people who has a resources to invest compared to a struggling person.
Bitcointalk Username:rosepetals
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Btc Address:3JNsUz887mGErhnfrr6T99twJJjowJJBJD
Post Count: ..... (including this one)
Forum Rank:Full
Wear sig:Yes
Profile link:https://bitcointalk.org/index.php?action=profile
Btc Address:3JNsUz887mGErhnfrr6T99twJJjowJJBJD
Post Count: ..... (including this one)
Forum Rank:Full
Wear sig:Yes
So I bought BTC at £9000, made a nice amount. Is it a good idea to now sell this and move that money into alt coins? or should I sell half BTC and buy back in after alt season is finished?
What do you think?
It depends on you mate,if you badly need it then you can sell a bit and leave something to hold as bitcoins price keep on rising ,we all want here is to profit and if you sell half of it I think it's ok as long as this came from what you gain from your investments your ROI.What do you think?
How often in those days of quarantine with panic and fear spreading did we think we were alone?
Do we even think if there is someone who is guarding us and who will help us?
Some know that God exists and pray to Him for help, but some do not believe in him and think they are alone in not only this situation but also in other difficult life situations.
I will not judge anyone on whether he believes in God or not, but I would like to prove that he really exists.
Those people who listened to the Lord and prayed for peace and for an end to this situation soon, they experienced love and peace, and those who have not yet found it and have not found the right path live in panic and fear.
How often do we think about the question "Why?", "For what?"… and the like.
It is very easy to answer that question.
God is always with us and never leaves us, whether we like it or not.
He has a plan for every man on Earth and will give everyone his "cross" to carry.
This means that everyone will have a problem or a difficult life situation at some point, ie no one has a perfect life.
We should not expect this because it will give us its "cross" to learn the value of life and our life will certainly not be black and depressed.
Everyone will have their moment in which they will "shine".
Some people invoke the name of God in fear and experience conversion and a completely new and better life.
Sometimes, of course, we'll get mad at him for not giving us exactly what we wanted, but he is not an automaton that will fulfill our wishes but is there to teach us the value of life and to accept the life we live and to follow his word to end up in his kingdom when we leave the world.
We must be grateful to him for loving us eternally and forgiving us of all the sins we have committed if we truly repent.
For example, in the country where I live, Croatia, a strong earthquake occurred, now during isolation.
Many people are scared and panicked because they are afraid of new earthquakes and are afraid for their home.
Some have found peace and comfort by turning to God and believing that He will do only the best for us.
In such situations, God will always help and protect us.
We may not be able to see him but we can feel him, i.e. feel his presence and peace.
We must respect him and pray to him because then he will surely help us in the situation we are in.
Because God is not selfish, He will not judge anyone, He will not mock anyone, and no matter how selfish and sinful we may be, He will always be with us and give us hope and wait for us to turn to Him.
Maybe we never seen God but we felt that he has giving some people to our lives to make us survive.There are alot of people who have generous and kind hearted person who give a piece of their wealth or a piece of their salary to help someone in need.He send instruments to help the needy and I believe it, since I have witness that there's alot of people who feel the needs of their neighbors,friends or relatives or even to people they don't know.Thats when I felt that we are not alone in this fight.We can count on him because he hears our prayers.Do we even think if there is someone who is guarding us and who will help us?
Some know that God exists and pray to Him for help, but some do not believe in him and think they are alone in not only this situation but also in other difficult life situations.
I will not judge anyone on whether he believes in God or not, but I would like to prove that he really exists.
Those people who listened to the Lord and prayed for peace and for an end to this situation soon, they experienced love and peace, and those who have not yet found it and have not found the right path live in panic and fear.
How often do we think about the question "Why?", "For what?"… and the like.
It is very easy to answer that question.
God is always with us and never leaves us, whether we like it or not.
He has a plan for every man on Earth and will give everyone his "cross" to carry.
This means that everyone will have a problem or a difficult life situation at some point, ie no one has a perfect life.
We should not expect this because it will give us its "cross" to learn the value of life and our life will certainly not be black and depressed.
Everyone will have their moment in which they will "shine".
Some people invoke the name of God in fear and experience conversion and a completely new and better life.
Sometimes, of course, we'll get mad at him for not giving us exactly what we wanted, but he is not an automaton that will fulfill our wishes but is there to teach us the value of life and to accept the life we live and to follow his word to end up in his kingdom when we leave the world.
We must be grateful to him for loving us eternally and forgiving us of all the sins we have committed if we truly repent.
For example, in the country where I live, Croatia, a strong earthquake occurred, now during isolation.
Many people are scared and panicked because they are afraid of new earthquakes and are afraid for their home.
Some have found peace and comfort by turning to God and believing that He will do only the best for us.
In such situations, God will always help and protect us.
We may not be able to see him but we can feel him, i.e. feel his presence and peace.
We must respect him and pray to him because then he will surely help us in the situation we are in.
Because God is not selfish, He will not judge anyone, He will not mock anyone, and no matter how selfish and sinful we may be, He will always be with us and give us hope and wait for us to turn to Him.
It is needless to say the recent condition of the economy of any country.Before the attack of COVID-19,The economy of my country was stable.Despite of having a developing country, we were trying to make our country better.But just one blow make this countries thousand, millions of people jobless.
The first corona patient was found in Bangladesh at 8 March and now the patient count has increased drastically to 12 thousand or more.Thats why government has taken a bold step to lock the whole country.Its very difficult situation because our economy can be broken and a large number of people over 1 million can be jobless.Because in Bangladesh,Over million people make their livelihood day by day.
A lot of people in our country, actually all over world people are suffering the attack of Corona virus. Even Some developed country people are suffering from hunger and they have a job problem.Italy is the perfect example.
Overall if this condition continues,no one knows what will happen,What kind of disaster world will face. And what are the effects will be in Economy.Is some poor country or small country can survive. Lets pray for them,pray for humanity so that pandemic can't turn into epic disaster
I belong in some poor countries and I'm afraid that the new normal is this Corona virus continue to spread.I have feared that most families cannot survive because most people don't have savings and jobs.Our fellowmen are suffering from this pandemic not just in our country but all parts of the world as well.Our president have given that aid to all people but the LGUs doesn't give their proper service.How can we survive if the people that we thought whom can help us will be the reason for our hunger.Im am praying that this pandemic would end so we can start over and move forward.The first corona patient was found in Bangladesh at 8 March and now the patient count has increased drastically to 12 thousand or more.Thats why government has taken a bold step to lock the whole country.Its very difficult situation because our economy can be broken and a large number of people over 1 million can be jobless.Because in Bangladesh,Over million people make their livelihood day by day.
A lot of people in our country, actually all over world people are suffering the attack of Corona virus. Even Some developed country people are suffering from hunger and they have a job problem.Italy is the perfect example.
Overall if this condition continues,no one knows what will happen,What kind of disaster world will face. And what are the effects will be in Economy.Is some poor country or small country can survive. Lets pray for them,pray for humanity so that pandemic can't turn into epic disaster
Re: You want to get rich, don’t pay taxes, don’t get married, don’t use bank, and...
In my opinion is that it's not that money make you rich it's the people behind you,if you have family then you will strive to make your wife and children comfortable.I know rich people doesn't have these mindset because they get married and able to have kids.Maybe the are just making sense of their wealth. They paid taxes and use banks,that is why I certainly disagree on what you say about not getting married.
Re: Small Investors are losing Bitcoin by Investing in Altcoins?
Your topic is right when it comes to investing.I have a lot of personal experience.In this way I myself have faced many losses.Besides, the big problem is.
That is when the price of Bitcoin goes up.The price of alter coins then dropped.It is very similar to the threat of loss.
You were right mate,same as mine I used to be a small investor before but my money have been gone because I always thought that if bitcoins value rises up altcoins will follow and it is very wrong concept.That is why I have stopped doing it.That is when the price of Bitcoin goes up.The price of alter coins then dropped.It is very similar to the threat of loss.
Hello humans,
My country has been lock down for almost 6 weeks by now, I come from Malaysia. I would like to invite all of you to join this good cause, I'm not really rich myself but thanks God I still can provided some food for my family during this hard times.
I just wondering how can I convince you guy's to join this cause.
Do I need to give my personal info such as my LinkedIn and facebook profile?
Please drop you're thought below, see if we can make this happened.
Thanks!
I'm happy to see some kind hearted people during these times but I don't have something can offer because my family are struggling also.I just hope and pray that everything will be well so that we can continue to live normal lives.My country has been lock down for almost 6 weeks by now, I come from Malaysia. I would like to invite all of you to join this good cause, I'm not really rich myself but thanks God I still can provided some food for my family during this hard times.
I just wondering how can I convince you guy's to join this cause.
Do I need to give my personal info such as my LinkedIn and facebook profile?
Please drop you're thought below, see if we can make this happened.
Thanks!
I've been visiting Somerset in the van for a few days, and last night I stayed in a picnic area and truck stop. This morning I went into the cafe for an early morning coffee, and I was offered a bottle of hand sanitiser, and asked to use some. This is obviously as a result of the Coron Virus appearing in the UK. I had no problem with complying, but I'm not sure how useful it is. Far more of a problem could be the communal use of the 'loos in my opinion.
Thats how we are advised to wash hands almost all the time and use alcohol,social distancing 1meter away from each other.We will take the necessary precautions to keep our life and family safe from those deadly virus.Hi guys.
The dilemma that I am going to raise is something that I think has passed everyone's mind.
Would you ever choose a job that pays a good salary or would you choose a job in the sector that you love with lower salary?
Personally, I would go for the first option...
Well for me I will probably go with a job that pays good salary because as a person like me whose having a family what I'm looking forward is to help my husband through our daily needs.I have done it for almost 16 years of my life but when I resigned my job as I wanted to keep an eye for my children grow I never leave my husband behind,I still able to help him through online selling it's not what I really love but it's what is needed.I keep fighting for them.The dilemma that I am going to raise is something that I think has passed everyone's mind.
Would you ever choose a job that pays a good salary or would you choose a job in the sector that you love with lower salary?
Personally, I would go for the first option...
The whole world is now passing a crisis moment. It is expected that we are going to face another crisis very soon. Economy is already going to recession. If the world really faces another great depression, a lot of people will loss their job, business firm and industry will shut down, millions of people will stay in hungry and we may have to loss thousands of valuable life.
What should we do now? I can point out some strategies which can be followed to prepare ourselves for facing the crisis.
• Try to cut down your present cost and save a portion.
• Hold a handsome cash in hand or any savings that can be immediately convert into cash. Even if needed to make encash any long term savings, do
it.
• Don't invest in any long term project at this moment.
• Don't buy any luxurious goods for you or your family.
• Don't engage in any borrowing. You should try your best to avoid it.
• If you are salaried, concentrate to your own job seriously so that your organization don't get any scope to release you from the job temporarily or
permanently.
• And finally you should find out some of your own policies to face any serious moment.
You can share your suggestion if any for facing the crisis moment that we are expecting to occur.
I also want to add mate about having second source of income inorder that there's assurance that there is money to be save for future usage because in some countries salary are just in an minimum wage which cannot sustains family needs most especially if we have kids.Maybe some online works or online selling inorder that daily works cannot be affected.What should we do now? I can point out some strategies which can be followed to prepare ourselves for facing the crisis.
• Try to cut down your present cost and save a portion.
• Hold a handsome cash in hand or any savings that can be immediately convert into cash. Even if needed to make encash any long term savings, do
it.
• Don't invest in any long term project at this moment.
• Don't buy any luxurious goods for you or your family.
• Don't engage in any borrowing. You should try your best to avoid it.
• If you are salaried, concentrate to your own job seriously so that your organization don't get any scope to release you from the job temporarily or
permanently.
• And finally you should find out some of your own policies to face any serious moment.
You can share your suggestion if any for facing the crisis moment that we are expecting to occur.
Re: Is it possible that number of miners will decrease for a while?
With the recent halving of block rewards, the incentive will be lower than previous for miner. On the other hand, the cost for them will still be same which may not be profitable for a while (I'm not sure about this). If it is true, is it possible that some miners will just leave mining for a while until they get back in a equilibrium or in profit? What fo you think?
Maybe it's very possible that they will leave since mining is very expensive and block rewards would lessen.Some might stay because they are also being paid in every transactions made by holders.Just my opinions mate.Newbie account with no reputation and official website/charity program asking for donation = SCAM. Better you be a volunteer on your local charity program than asking for donation here, no one will trust and believe what you said above if you don't have any proof. Helping people is not always about money, you can start from simple thing like sharing your food with other poor people.
Right mate people nowadays need proofs.Better give it directly to those who badly need it than those who are just taking advantage on the situations.It is very likely that we will be soon witness another crisis after this pandemic event many people around the world are becoming jobless, in other word no financial to face the reality when this such phenomenon exit, add up the mortgage and bills to pay for, it is sure pain in the back to workaround and see what we can do for the upcoming month during this pandemic.
For me I will just thrown away any things that can be sell off, to support what do I need for, and stay on my list to dos after the event I don't have a family for the moment sure give me a time to not worry about.
How about you give me your thought on this event I might be adapt your idea and get some of it to surest my stability when the time comes,
Yes you were right things becoming so difficult for us,more are jobless,earnings have already been spend off to our daily needs and the needs of the children.What fears me most is this pandemic would last more another months,how can we survive if we were living in a country full of corrupt local government officials.Budgets have not been properly disbursed to the right person whose been in hunger for 2 months for now.Bills are coming every month.For me I really don't know where to find sources of money but I don't want to loose hope because I still have kids to feed.Just keeping myself strong hope everyone would do.For me I will just thrown away any things that can be sell off, to support what do I need for, and stay on my list to dos after the event I don't have a family for the moment sure give me a time to not worry about.
How about you give me your thought on this event I might be adapt your idea and get some of it to surest my stability when the time comes,
I agree to some point that gold still safer than Bitcoin.Since Bitcoin is very volatile it can rise any time and fall also.Gold will always be a good investment for a longer period of time but Bitcoin also have great possibilities to grow it's value more,let's see after the halvings will be done.
I think it's a way to catch up attention to people who wants easy money sending 1$ and they will send it back 2$ , I think we must not fall to this scheme inorder that we will not become a victim of scammers.
We never thought this corona will be so viral and disastrous and even I have mentioned in my previous posts downplaying the seriousness of Corona but now it has collapsed economy of many businesses except pharmacy business which have seen a spike as most of the stocks are out of stock but the restaurant and other daily operational business like tours and travel agency, malls, other event-based business, and meat shops are closed and going through massive loss.
How long will it last? What's the antidote for Corona?
I guess if we follow rules such as staying inside our home would be a great help but here in our country people will go outside to look for food to eat since we belong on the third world country our local government officials assessment seems so slow that able to make people break the rules.Many people are hungry,and I'm one of them that is why I wanted to do something just to live for my kids.No one knows when this pandemic would stop unless someone could find medicine to cure and fight this virus.How long will it last? What's the antidote for Corona?
How long do you think the crisis can last after the epidemic?
What are the most likely events to occur?
In my opinion I guess these crisis too much affects as a whole.People must adapt the new normal situation where we will be more descipline as a human beings.Our economy have gone down and it takes too much time to restore it..and in that moment we need strong leaders and more vigilant and responsible person to put some things back together.What are the most likely events to occur?
Just my opinion.