This is not a plan, because a plan does not consist only of a single action planned for the future, but a set of actions. I even doubt, with my usual skepticism, that the thread is a sincere thread and not a blatant and crude attempt to earn merit. I also plan to sell when the price is high, but that is only a small part of my plan.
I was hoping to actually see a step by step process on seeing the thread with "Plan" on its title, but this is just simply an assumption based from OPs wild imagination. I hate to take this seriously, I'm not sure if OP wants us to tell something to him, or he's trying to say something for us. I've read an article before on price calculation of bitcoin if it were all mined and owned, and it could worth $4 million dollars per bitcoin which is now unrealistic knowing there are lost bitcoins from lost wallets and accounts. $200K seemed to be more of a wishful thinking from newbie, that's what I don't like when we talk crypto but good for being optimistic. 
Topic: My economic plan over the decades and our future (Read 211 times)
Many people have different plans for their investments, many plan that they will hold Bitcoin for a long time and that the next generation will have access to their investment. Thinking till the next generation is fine but thinking till the third generation seems a bit much to me. It is doubtful whether the second generation can take access to your investment but it is uncertain if you leave your investment for the third generation. Maybe you could see the second generation but if you can't see the third generation then how can you be sure that your investment will reach the third generation.
When it comes to Cryptocurrencies I understand that investments should be held but if ever I feel that I have made a profit as expected then of course I will sell some of my investment. Besides thinking for the next generation, we must also think about the present. It is foolish to think about the future generations from the present situation which is much worse.
When it comes to Cryptocurrencies I understand that investments should be held but if ever I feel that I have made a profit as expected then of course I will sell some of my investment. Besides thinking for the next generation, we must also think about the present. It is foolish to think about the future generations from the present situation which is much worse.
There are people who are so Wealthy then they made all things possible to change their stories, have all forms of investment and businesses but guess what? Their children couldn't sustain the wealth. So first as a man before choosing to make your wealth also try to teach them how to preserved wealth I think that is the most difficult place were many known businesses has folded up even some we don't hear about their names anymore is because of lack preservation. I can say creation is a bit easier but where the problems lies is to sustain it and pass it up to the next generation which would happened to the third generation and watch carefully those who were able to sustain their wealth continually even to the next generation were thought on how to preserved and diversify their wealth.
This your opinion is very much underrated to certain extent but it's a sad reality that majority of people are overlooking even long before now. We have seen some wealthy family fallen from being an influential family to struggling family when the breadwinner of the family is no more. Why? Simply because there's no spirit of sustenance in the next generation. It's our responsibility as well when we are making the wealth, we should also think of how the wealth will continue from generation to generation. Creation is not also easy but maintenance seems to be more difficult actually because you as the primary creator may soon leave them behind. Our people use to relate this situation with a popular saying that you should not just give people fish to eat but you should also show them the river and teach them how to catch the fish too. One should not be too comfortable making wealth for the family but rather be concern about the wealth sustainability in the long run. If the wealth can not be sustained, it's as good as you didn't create anything.
Snip
I agree though most people starting having their breakthrough after having family at this point he can't say that he won't teach his family how to manage money. Like, I am not among those who keeps spoiling their children about money instead of giving them knowledge on how to utilize their money being given to them by anyone and person would think you are stingy or greedy for not spending hugely on their kids, however most people do make wealth before having family these sets of people are always mindful with their expenses and how his family would manage their wealth even after and before them. Wealth they said has a lot of principles which aren't tough in school or any institution. 
There are people who are so Wealthy then they made all things possible to change their stories, have all forms of investment and businesses but guess what? Their children couldn't sustain the wealth. So first as a man before choosing to make your wealth also try to teach them how to preserved wealth I think that is the most difficult place were many known businesses has folded up even some we don't hear about their names anymore is because of lack preservation. I can say creation is a bit easier but where the problems lies is to sustain it and pass it up to the next generation which would happened to the third generation and watch carefully those who were able to sustain their wealth continually even to the next generation were thought on how to preserved and diversify their wealth.
I think the first thing you should do is make the wealth. You most likely start making the weather before you give birth to the children or before the children are old enough to understand money. It's good to teach your children how to preserve wealth, but most times it's not because the children do not know how to preserve wealth that's why they ran the business to the ground.
Sometimes it could be harsher economic conditions. We know factors in this time that are advantages to businesses but there are also disadvantages like more connections, inflation and unemployment which means less purchasing power.
The business may be a business that's bumming in the parent's time, but not so much in modern day. Take for example a company that manufactures radio set or newspapers.
What about kids that do not want to follow in the footsteps of their parents? The parents are in oil for example but they want to do something else, like go into sports. Everybody wants to make a name for themselves.
So I believe you should make the wealth and teach your kids not just how to maintain wealth but how to also make wealth too. This way in whatever field and time they find themselves, they will be able to adapt and succeed.
I sell part of my btc to the blackrock and banks when they come to asking helping Hand and to other cryptocurrency holders.
Price i would sell btc would be 200-300k
We Are 3rd generation it's a pivotal point for us the next 2 generations will be locked into our decisions they cant change much so the next pivotal time will be after 2 generations.
Today you will decide If your family and kids will be poor or wealthy you have that repsonsebility now.
If today you see bitcoin worth $200K - then sell it to anyone in the market. You will never know who will buy your bitcoin unless you sell to a specific individual face to face. I'm not sure if any of us here will still be alive in 50 or 80 years - but of course this bitcoin can be passed on to our children or grandchildren later.Price i would sell btc would be 200-300k
We Are 3rd generation it's a pivotal point for us the next 2 generations will be locked into our decisions they cant change much so the next pivotal time will be after 2 generations.
Today you will decide If your family and kids will be poor or wealthy you have that repsonsebility now.
Whether my children are rich or not depends not on how much money I save today - it does depend on how they build their own wealth. Of course - they can inherit some of the assets I currently own, including the crypto assets I have in my wallet. One thing is certain, get the benefits and improve and equip them with sufficient knowledge so that in the future they will be ready to face world challenges, including financial challenges.
I won't be against you because this is your plans for financial freedom. Bitcoin definitely will change the life of few who invest wisely in it. Some persons might be unlucky, while some will fomo and sell which will hinder their prosperity. This is for those who rely on Bitcoin to make them rich, only them will have this encounter.
However, I don't rely on Bitcoin for financial freedom. My aim is to accumulate as much I could while I still can from my current income. The plan is to store my value in Bitcoin instead of fiat and at the same time investing in it so that I'll have a good portion if not a whole perhaps some good fraction of it for years.
Everyone has their own perspective in investing in Bitcoin, there are those who want to achieve financial freedom by having lots of Bitcoin so that they can own anything and get lots of profits from the investment and trading they do using Bitcoin.However, I don't rely on Bitcoin for financial freedom. My aim is to accumulate as much I could while I still can from my current income. The plan is to store my value in Bitcoin instead of fiat and at the same time investing in it so that I'll have a good portion if not a whole perhaps some good fraction of it for years.
Choosing to invest using Bitcoin is a good choice to maintain value, but we have to really do it well and we have to be able to hold on until we can get a profit from the investment we make.
I won't be against you because this is your plans for financial freedom. Bitcoin definitely will change the life of few who invest wisely in it. Some persons might be unlucky, while some will fomo and sell which will hinder their prosperity. This is for those who rely on Bitcoin to make them rich, only them will have this encounter.
However, I don't rely on Bitcoin for financial freedom. My aim is to accumulate as much I could while I still can from my current income. The plan is to store my value in Bitcoin instead of fiat and at the same time investing in it so that I'll have a good portion if not a whole perhaps some good fraction of it for years.
However, I don't rely on Bitcoin for financial freedom. My aim is to accumulate as much I could while I still can from my current income. The plan is to store my value in Bitcoin instead of fiat and at the same time investing in it so that I'll have a good portion if not a whole perhaps some good fraction of it for years.
Finding the true value is always when everyone wants to sell and no one wants to buy. The true value of Bitcoin now represents the long-term bottom, which is around $16,000. Thus, the new bottom or the true value may be between $50,000 and $70,000 depending on the price direction, and so on. The matter for buildings and real estate may be very similar, and therefore there is a difference between the intrinsic value and the speculative value.
It sounds more like a future investment plan for a decade, rather than an economic plan.
If I could share a similar generational investment plan or in this case economic plan for a decade, a good example would be how the Rockefellers accumulated enough wealth for every member of their family till generations yet unborn.
This is how the rich pin mind plan for the future of their offsprings and thus make investment plans and invest for that conceivable future.
It would be of more meaning if it is kept a secret and holdings kept safe until the time to liquidate or reinvest into other projects that would bring in more money comes.
If I could share a similar generational investment plan or in this case economic plan for a decade, a good example would be how the Rockefellers accumulated enough wealth for every member of their family till generations yet unborn.
This is how the rich pin mind plan for the future of their offsprings and thus make investment plans and invest for that conceivable future.
It would be of more meaning if it is kept a secret and holdings kept safe until the time to liquidate or reinvest into other projects that would bring in more money comes.
I even doubt, with my usual skepticism, that the thread is a sincere thread and not a blatant and crude attempt to earn merit. I also plan to sell when the price is high, but that is only a small part of my plan.
It’s obvious that that's what the OP is looking for, which cannot be achieved this way. People tend to create topics that everybody knows about, just like this thread. Everyone of us here, as far as you invest in bitcoin, you must want to sell when the price is high. We are expecting profit from any business we put our money into, no matter how risky it is, so why create threads like this again?
but do well to teach them financial management, because this is what everything about wealth boils down to.
It is very important that even if we leave the wealth for them and there is no financial management, they will misuse our effort in gathering the money for them. So even before you hand over or teach them how to get the wealth, the first thing is to teach them how to manage their finances. That is what will guide them even when you are not more because nobody can predict the future and we don’t know what our next two generations will face as the inflation in the world is increasing economically. You can see that if they have financial management, they can cope with every situation.
Going by the popular belief of the entire btc community that it will be worth even more than the current price in the future, it is entirely appropriate for any btc enthusiast to hodl some for any possible future high price.
History has already shown that btc since its existence has increased in price tremendously, buying some now for the future to gain financial freedom is a good idea.
I think we have already past that point where people still have doubts about btc capabilities or general acceptance.
History has already shown that btc since its existence has increased in price tremendously, buying some now for the future to gain financial freedom is a good idea.
I think we have already past that point where people still have doubts about btc capabilities or general acceptance.
Thinking about your next two generations now is something not important because we can't plan for them but our children can plan got that. What matters is that we should secure wealth that will be enough for our children as they will always have their own plan and there is nothing we can do about that especially when we are no more. Selling your bitcoin at 200k is not a good plan for you next two generations because nobody know the level of inflation that the world will face in the next two generations. So it is better that you sell some part of it and diversify into another investment that will be there to take the responsibilities of your children and also teach them how to preserve the wealth. Will bitcoin to your kids and teach them how increase their bitcoin portfolio, so that they can also will some bitcoin to your second generation. Nobody knows what the future has for your next two generations because everyone has his own destiny, but do well to teach them financial management, because this is what everything about wealth boils down to.
This is very much possible as everyone wants to secure future of their offsprings and retire rich, as well as live comfortable life. But the real question here is whether you are going I hodl Bitcoin until it reaches the figures you have estimated or sell at peak of Bull run and then buy back during bearish market as I think it might take couple of more years for Bitcoin to reach near $200k and a lot of patience is required. I am suggesting you to split it between long term investment (hodl) and then also keep accumulating Bitcoin during dump with a combination of selling at pump and buying at the dump by this way you will be able to accumulate more Bitcoins.
We already see that there's a season for bullrun to come and that brings exciting price action to us that's why as years counts for sure it will able to bring us good result especially if we are saving some bitcoin for future use. It maybe a good action to do to plan for a decade but also we need to settle up our expectation since its also good that we have separated balance to use for accumulating more bitcoins. That's why its good to split up and use the other amount for daily investment since this could potentially give us more positive result and who knows in future all the efforts we made especially on investment and hodling paid off and we can secure our future with that also the future of our child. So good to have that ambition that's why its good to take some action now.
We're all waiting for that moment for Bitcoin to reach such high prices but in no way that BlackRock and other known financial institutions that will come to ask an individual to buy their Bitcoins.
But I know that you mean here are the exchanges and should you decide to sell, you'll sell it there.
It's also true that we're the ones to decide now for the next generations of our family. We're just too caring to the offsprings that we're going to have in the future. LOL.
But I know that you mean here are the exchanges and should you decide to sell, you'll sell it there.
It's also true that we're the ones to decide now for the next generations of our family. We're just too caring to the offsprings that we're going to have in the future. LOL.
I do not think that the growth of the return from Bitcoin will be exponential in the long term. This means that whoever holds Bitcoin for the next 30 years, the next 50 years, and the next 100 years, the return from their investment will be closer to a straight line than to being an exponential growth. The reason for this is that there will come a point at which the price stops growing and will be closer to what happens with gold. This point may be at 500k or a million or a million and a half, but it will happen and then your children will not get richer.
The long-term drawing will be closer to red than blue.
The long-term drawing will be closer to red than blue.
This is very much possible as everyone wants to secure future of their offsprings and retire rich, as well as live comfortable life. But the real question here is whether you are going I hodl Bitcoin until it reaches the figures you have estimated or sell at peak of Bull run and then buy back during bearish market as I think it might take couple of more years for Bitcoin to reach near $200k and a lot of patience is required. I am suggesting you to split it between long term investment (hodl) and then also keep accumulating Bitcoin during dump with a combination of selling at pump and buying at the dump by this way you will be able to accumulate more Bitcoins.
You can make plans like that but you have to remember, your children will also have their own plans. We can only prepare what they think they will need in the future but we cannot force our wishes on them. The next generation will definitely encounter things that are different from what we face today. We can only prepare them so that they can be ready to face it and be able to survive so that they can also prepare their children later.
We can give them an inheritance in the form of Bitcoin. And maybe at that time, the price of Bitcoin will be so high that they can use it for their future. But it depends on how they will use the Bitcoin we inherited. Our job is to prepare them and teach them everything they need based on the situations and conditions that will occur in the future.
Being rich or poor is a choice. And as long as we can teach them about life and choices, they will understand it themselves. After all, every generation always brings changes and it will definitely be different from the previous generation. If you want to prepare for their future by having lots of Bitcoin, you can do it from now on. When the time comes, you can give it to them so they can use it according to future conditions.
We can give them an inheritance in the form of Bitcoin. And maybe at that time, the price of Bitcoin will be so high that they can use it for their future. But it depends on how they will use the Bitcoin we inherited. Our job is to prepare them and teach them everything they need based on the situations and conditions that will occur in the future.
Being rich or poor is a choice. And as long as we can teach them about life and choices, they will understand it themselves. After all, every generation always brings changes and it will definitely be different from the previous generation. If you want to prepare for their future by having lots of Bitcoin, you can do it from now on. When the time comes, you can give it to them so they can use it according to future conditions.
If you're confident about the future, you shouldn't sell it to BlackRock or any bank.
Life isn't just about family inheritance... there are many other variables that determine a person's destiny, such as talent, perseverance, creativity, environment, and so on.
Today you will decide If your family and kids will be poor or wealthy you have that repsonsebility now.
I don't think so. In fact, I believe it's too much to project the future based on what we decide today. Everyone is born with their own abilities, and we all agree that our luck is unpredictable in terms of when and where it comes. This means that even if you work hard today and feel capable of changing the fate of the next two generations, it doesn't guarantee success, even if you rely on the two generations before you.Life isn't just about family inheritance... there are many other variables that determine a person's destiny, such as talent, perseverance, creativity, environment, and so on.
I sell part of my btc to the blackrock and banks when they come to asking helping Hand and to other cryptocurrency holders.
Price i would sell btc would be 200-300k
We Are 3rd generation it's a pivotal point for us the next 2 generations will be locked into our decisions they cant change much so the next pivotal time will be after 2 generations.
Today you will decide If your family and kids will be poor or wealthy you have that repsonsebility now.
Price i would sell btc would be 200-300k
We Are 3rd generation it's a pivotal point for us the next 2 generations will be locked into our decisions they cant change much so the next pivotal time will be after 2 generations.
Today you will decide If your family and kids will be poor or wealthy you have that repsonsebility now.
It is more of a daydreaming than a plan. A plan usually consists of actions. But in your case it's more based on assumptions. Rather I will suggest to invest in some real world assets like gold or real estate so that your next generations can at least have a roof above their head.
Also focus on educating your next generations so that they can do business or job to earn their living. Otherwise, the will wait for the Pandora's box to open for the rest of their life. Not a good plan.
Jump to: