Topic: My economic plan over the decades and our future (Read 211 times)

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.

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.

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.

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.

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.

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.

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.

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.
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.

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.

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?


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.   

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.

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.

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.

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.

If you're confident about the future, you shouldn't sell it to BlackRock or any bank.

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.

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.

Interesting but I wonder should one of those places go to BlackRock? As far as I know, there are quite a lot of exchanges available now that accept BTC and can be cashed out anytime if OP wants. Regarding future planning for both boys and girls if I am given convenience. I will open a BTC account for each of them from now on and when the time comes and they understand, I will hand over all the assets to them so they can use them as best as possible.

How do you know its BlackRock and banks who are buying your BTC from bids on exchanges?
Just sell it to whoever they are but what would you do after it since you have a plan to leave your wealth to your kids? I wouldn't expect my kids to really learn BTC since all they know for now is just playing online games, I would probably just build a simple motel for them as their cash cow for the future and maybe one day they will accept BTC as payment thats my plan.

More investment options are better, reying solely on bitcoin is a bad idea, it's called a high risk investment for a reason, so its being irresponsible to put all your egges in one basket. Although personally bitcoin has been a huge help of my financial success that I'm enjoying currently, there's no such thing as forever in this world and we can't just bet solely on bitcoin, that's why i diversify my investment. Learn also to put money on real business while still investing on bitcoin just in case something will come up in the future that we aren't expecting, we still have another source of icnome to survive,

If financial freedom is to happen through Bitcoin, you must have at least five Bitcoin holdings now, just in case each Bitcoin becomes 100k in the upcoming bull run. But if your bitcoin holdings amount is below 1 bitcoin, that is not enough to say that you have financial freedom.

If you know for yourself that you cannot save more than one bitcoin, there are other altcoins that can also help you when it comes to financial freedom; it depends on how you do your own research. Just make sure you know the right choice of other cryptos that are also listed in the top market.

Although I also intend to hold the bitcoins that I have accumulated for the long term. But maybe I will sell some when Bitcoin actually reaches a new ATH after the halving or when the bullrun reaches the peak of its hype. And I will start accumulating it again when the bear market comes again. My desired target price is probably more than 100k. But I doubt the current bullrun will reach 200k. But because Blackrock and many other large companies in the world started to really adopt bitcoin. So of course the next hype could be a higher hype than before. In the bull run yesterday there was Nayih Bukele as the president of El Salvador who also helped make the hype even higher. Maybe this time Blackrock's Spot Bitcoin ETF and many other companies will help lift prices to the highest levels coupled with the potential for the current president of Argentina who seems to really like Bitcoin. In fact, he seems serious about his remarks which are not pro-Central Bank. The point is that big things can happen at the halving this time. But I will always remember that after bullishness there is always bearishness. So I also have to prepare for the upcoming bear market.

I also want financial freedom. So I also have to be more adaptable and maximize every opportunity. Both in the crypto market and in the real estate and property market. I have to be able to enter all of that to achieve financial freedom. Because only with Bitcoin maybe it requires more patience. But combining them all I hope will speed things up.

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 don't know when you are projecting the price of bitcoin to get to that price but I hope it is not next year. If it is next year then you are expecting too much from Bitcoin ETF and halving. But these projections might happen in the future and I know many people will be glad to enjoy the profits.
 
I would like to transfer wealth to my family and children but I don't see it as do-or-die affairs. The focus should be to teach your children about financial intelligence and help them pursue a career they have a passion for. Every child should be raised to achieve financial independence and not rely on inherited funds. If you fail to instil the right knowledge in the children, they might end up wasting all you have kept for them.   

I'm sure that you're not the only one wishing to sell their bitcoins for such a price. It would surely propel your net worth into new heights and possibly giving you enough financial power to make a difference in the future generations. It's a very straightforward plan with a high possibility to happen, knowing how bitcoin's price moves per cycle. Hopefully though, a lot of you young ones will be able to influence those after you to look at cryptocurrencies as a viable long-term investment tool and not just a get-rich-quick scheme that most of them deem it to be.

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 many people dream of gaining financial freedom from bitcoin, especially seeing the price of bitcoin which always touches new ATHs from time to time. For now, we hope that the ATH will occur in 2025 and the next ATH will occur in 2030. If all predictions go according to plan then in 2030 we will most likely see the price of bitcoin stabilize above $100k. If bitcoin stabilizes at $100k then public confidence will increase, bitcoin's popularity will no longer be in question, and in the next few years, perhaps 2060, bitcoin could be at a price level of $200k or $300k. But that's just hope, we don't know what will happen but I'm sure bitcoin will be more expensive in the future.

NFT's pretend to be worth alot because the most publicised ones were advertisements. purposefully reported to social media by the creator

the creator self-sells to himself at a huge price meaning if he sells for $200k he pays himself $200k thus no actual real cost to him. but marks a $200k price point..

this price faking makes people think NFT are worth alot. but they are not. and many are realising. you wont get to buy cheap and sell high unless you are trying to scam a victim

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real estate wont crash. what you have to realise is this:
when house VALUE moves steadily up for 80% of houses.. there will be some(20%) that are oversold at a premium(above value) of like 2x.. those 20% will try to make "quick-flip" profit by selling even higher. but when they cant sell or they end up over extended and foreclose. the auctions then sell those 20% below value to the low(of highest) bidder. its these small 20% events that make it appear that there is a crash however it requires a 3x of supply vs demand to cause a real crash

reality is only 20% of places caused a market swing due to their individual buy high, try higher lose, sell low event of bad investment strategy of old owners

the only way to win is to buy cheap derelict, foreclosed, abandoned buildings so far below comps value that you can afford renovation to bring it back to standard
dont think that you can just buy now sell later of normal comp value houses on the normal market without any work for quick flip profit

you really need to do research on the comps to understand the market.
because just seeing a similar sqr-foot property sell for higher comps means nothing. they might have invested in a elegant kitchen/bathrooms, a indoor pool and gym.. so thinking you would get equal comps for a basic empty space house with no elegance will hurt you hard

if you bought a basic empty room space house at the elegance premium. you will get hit double hard,

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at the 2025 ATH of btc. many will sell and wait for the 2026 correction to accumulate more btc which they will ride the next ATH in 2029 for a 4 year "flip" (shorting 2025, going long 2026-2029)

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.