Topic: Okay... WTF do you actually do with "life changing money" once you have it? - page 2. (Read 233 times)

It almost sounds as though you're asking us for advice on how you can make yourself happy?

No one here is in a position to tell you how you should live your life.  What might make a contented lifestyle for any of us, could well have the opposite effect and make you miserable.  That's the problem when asking strangers on the internet for advice.  We don't know you or what your passions are.  It's something everyone has to figure out for themselves.  Decide what brings you joy and pursue it, basically.  Easier said than done, I know.  But that's all there is to it.     

Use some percents of those coins to sustain your life, maybe while you get some better education if needed or while you search for a better and clearly steadier job.
Settle down and start living better. And do it gradually. Maybe slowly. This would avoid shocks and should allow the rest of the coins grow.
Keep yourself a safety net. And this is very important. The price of the coins will grow, and fall, and grow and so on. You don't want to get to the point you have to touch those coins and the price is lower than you'd want to sell them at.
Start gradually. But start. You don't want you get to the point you have too much money, but you no longer can actually benefit.

I would personally rebalance/de-risk at least half my Bitcoin into traditional investments.

The stock market had a correction recently, so I would put the majority in stocks. Investigate growth vs. value stocks/funds/trackers/investment trusts.

Then some precious metals, gold, silver etc. Keep an eye on the Gold / Silver ratio.

Then some government and corporate bonds. Just a little as they aren't performing well, but they do shoot up when stocks crash. Think of bonds as a cash proxy.

I'll also mention property separately. Spend a bit on a deposit on an apartment or house. Mortgages are dirt cheap at the moment, and are almost free money. It's basically a loan that enables you to invest elsewhere.

Then after that, see where I am in 5 years

Hey guys, this is a serious post.

I have been holding for almost 10 years at this point.

Sold one coin in 2017, lost some in 2014 to mtgox and HODL'd the rest.

I currently have what might be considered 'life changing money' to many.

I have been living at an extremely low cost and standard of living for the past 10 years. Some would scoff at my frugality and tradeoffs to maintain a low cost way of life.

I keep a low cash balance, with my liquid fiat cash balance is down to something like under 0.5% of my total net worth. Rest in BTC. I have no motor vehicle, no property, no other assets.

I feel like the dog who has been chasing the mailman (trying to accumulate wealth), and now that i've finally caught him... I don't know what to do! I have been studying 'sudden wealth syndrome' to avoid falling victim to it, or the common vices newly minted wealth attracts.

I want to avoid self destruction through wretched excess. I have gone down that road before and want to avoid touching it second time. I want to live a life with long term goals and take action based on thought, reflection and reason.

I am a long term believer in the bitcoin project and have invested significant time into educating myself about the technology and economics, in addition to how the current financial system works.

I find that I am currently dis-incentived from working a /hour job, as it's just so little money earned compared to my holdings. Even laying down capital for entrepreneurship because holding BTC is so profitable (though it does not grow in a linear fashion).

WTF should I do!? What would you do in my position!???