a $92K annual drawdown on $2.3M. Not shabby, but neither is it anywhere near what I was making when I was a wage slave. And I ain't typical retirement age yet, so allowances need be made to extend the principal that many more years.
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Spot on!
Steve Jobs once said: "For the past 33 years, I have looked in the mirror every morning and asked myself: 'If today were the last day of my life, would I want to do what I am about to do today?' And whenever the answer has been 'No' for too many days in a row, I know I need to change something."
Calling yourself a wage slave for too long means you really need to change something in your life. Not all people can achieve getting enjoyment from work.
There should be some choice in the kinds of work that we do, and gosh, when we are really young, and just entering the workforce, we might be put in position that require us to do the most shitty of the jobs within the organization that we work - presumably, we do not start out being the boss, even though some people do get into those kinds of positions where they are
put in charge of things due to their connections (and presumably they are trusted to carry out the interests of the owner/boss).
Seems that we can learn from all kinds of jobs, even the bad ones as long as they do not persist in such a bad status for too long of a time. Surely, some people do get value out of repetitious jobs, and they consider making a living to be worth their time, and of course, the more that we build our skills (or even our likability or ability to work with others or to be trusted), the more options that we are likely going to have.
Some are incapable, others lazy, others just unlucky, although I don't really believe luck can fully define someone. One can make his/her own luck in life, or he/she falls into the "incapable" category. But at least you've got to try. If you fail, try again, and if you fail again, maybe you're not able to do it, or you need to re-evaluate your goals,
We do likely need to concede that some people are going to have more difficult circumstances that they might be trying to get out of, and of course, many of us might not want to be born into a situation in which we have a lot of obligations that don't seem to allow us to have space for self-development, so sure we might be presuming a bit of luck from the start in terms of having some infrastructure, such as we do not have to walk four hours a day for water or some of those material difficulties.
Also, some people might have difficulties just establishing some discretionary income, even if it is $5 per month that can be stacked away...
and Bitcoin can help in such cases, but not everyone is in this situation. Not everyone is a wage slave.
Of course, we are going to agree that bitcoin can help, even in the most dire of circumstances, even if someone might only be able to stack away $5 per month.
We have already gone over the case that any person who is investing in bitcoin better make sure that they have their shit together in other regards, too, because you don't want to be forced to have to cash out any or all of your BTC at a time that is not completely at your own choosing... but of course, bitcoin remains one of the best asymmetric bets - but I will still say that having at least a 5 year timeline to allow the investment to play out is amongst the current best practices, even for someone in dire circumstances.. and surely, even such person who enters into bitcoin currently, could choose to cash out of bitcoin in all or in part at a time that is less than 5 years from now, so long as they are doing so at their own choosing, and not because they had not planned and prepared to ride it out for at least 5 years.
Reaching "fuck you" richness status should not necessarily mean quitting work, or stopping doing what you're doing. It could mean that you are now able to do more things that were out of your reach before, feeling more secure about your financial situation, enjoying your hobbies and leisure time to the maximum, but continue working on the field you enjoy, and even be much more productive and much more involved now, keeping your brain active and your intellectual abilities in top shape. Many of the super-rich personalities of the world are workaholics, because it's their work that keeps them alive.
Probably fuck you status continues to be somewhat about having the option to do stuff that others may or may not agree with because it is your choice to engage in such activity(ies), and not strictly something(s) that you are doing because you have to in order to feel monetarily comfortable.
Can't read the article but banks might have no choice than buying negative yelding bonds to follow rules on holdings. Basically to lend money to "risky" companies and people, they have to hold some "non risky" debt.
Funny that the ECB doesn't offer the same deal to actual people.
Yes. My niece took a loan to buy an apartment about a year ago. I was very surprises how high interest bank still take fro lending out money while they get money for no interest them self. I guess in the future bank loans to actual people will have to get to zero
Of course, banks frequently figure out ways to screw people who do not have other options, and not only do banks get low interest money, in recent times, they do not even have to maintain any reserves, but they still are going to try to charge you as much as you are willing to pay, and you will pay more, if you have fewer options.
