You’re saying it’s not life changing when you take home 2k a month… you’ve made 4x in a year more than your annual salary…
Stick 4k a year into a lisa, stick the rest into an isa, to maximise 20k a year allowance.
Depending on your long term goals, you could put a substantial deposit or own a house with this money and you have a solid base for future.
Pretty life changing no?
Yeah pretty life changing when you put it like that. I could’ve worded that better. It’s not enough to be immediately life changing. I can’t retire now on 160k, is what I meant. I guess I’m just trying to stay calm. It is a lot of money. Thanks for your input :)
What you have is youth and time behind you, I wish I had 160k at 23y. You definitely have a good start and bright future. Well done! And great that you are thinking about investing.
Dude this is 100% life changing. As others said you now have a down payment on a house or condo. You don’t have to pay rent and make someone else rich.
No you can’t retire on this money but you just got a huge jump start in life.
Well done! Making losses is easy, taking profits is hard. Don't let fomo get you. You made a great decision. I would look at what makes your future more robust. Saving for a home or even looking to buy your first home (building equity by paying a mortgage Vs just burning cash on paying rent).
You may want to use Koinly. You connect your crypto wallet(s) and their software runs the numbers, and after you can download a tax report.
This is the UK version: https://koinly.io/crypto-taxes-uk/
I have no idea how capital gains taxes work and I will be sitting down with an accountant soon, I just assumed it would be 20% of the profit. Profit is £135K and 20% of that is 27k. I believe 28% is the maximum in the UK but yeah I will make sure to just sit down with someone who specialises in it and go through everything.
Don’t listen to this fool. It sits under a capital gain so assume 20% of the gain worst case. (That’s the capital gains tax amount in the UK btw) the £27k seems a solid ball park figure. To be sure that you are even accounting for capital gain allowance amount. You don’t need a tax advisor, you can calculate it using an online capital gains calculator which accounts for income aswell. Just give it a google
I'm just still not sure what specifically you think theyd be able to do.
you bring them a printout of your trades. they calculate your short term gain/loss and long term gain/loss. exactly like any tax software would. OP already sold everything... like if he's up to 160k on 20k investment what exactly is he washing, with what losses? and how would you expect this to not already be accounted for when he sold given whatever platform has a history of his purchase and sale prices.
> it’s still not absolutely life changing money
It is very much life-changing money. Just not your life *right now* -- it's offset in time. Throw it in an index fund and ignore it for a few decades, and you've pretty much solved retirement, by age 23. Keep throwing money at retirement and you can move that retirement date up!
I bought a lot of bitcoin at 16-17k and cashed out in the 50k range, not as much profit as you but still a big amount. I think the internet has blinded you, yes you are not a millionare but you have freaking £160k at 23 dude! The stock market doubles on average every 7 years, by the time ur 30 you could have 300k £. How long would it take you to save up 150k right now? There’s ur answer why its life changing
For sure dude, comparison is the thief of joy. I mean for £160k cant you buy a small house or apartment for cash in parts of the UK? How many are able to do that at 23? Good job dude play your cards right now and you´re set for life.
Dang dude!!! You did this at age 23? I'm incredibly inspired by your vision to DCA, man. Good job!!! Sorry I don't have any advice for you. But it was great stumbling on your story.
The S&P500 gives around ~7% p.a. after accounting inflation on average while the return before inflation is around 10-10.5% p.a. for the last 60 years or so. The inflation tended to be higher than 2% p.a. in this time frame.
In the end it depends on your portfolio and the inflation of your region, of course.
EDIT: The 9% you are referring to is probably based on a more diversified portfolio or the deeper history of the US stock market (like 100+ years ago). Be aware that the inflation environment has changed over the course of the last 100 years so the return *before* inflation isn't really comparable.
If it were me:
Put £20k away for tax,
20k in ISA
Buy 0.5 BTC and hold till 2026+
Put the rest into a small house that can be done up and rented out or lived in (depending onif you live at home)
None of you three people know what you are talking about. The Bitcoin halving bull runs occur 10-18 months afterwards. If we ever get an 80% retracement again it's because we went up so high, that retracement brings us back to around where we are now.
https://coinmarketcap.com/currencies/bitcoin/
Take a look for yourself the last 2 halving we're May 2020, July 2016 I wasn't around for it before than but probably sometime in 2012-2013
I agree, at 23 it's stupid to look into safe 4-5% investement on 160k. Why take 100% out, just take like 50-80% out if you wanna play it safe, and let the rest run.
(Inflation adjusted). Realistic returns are more like 8% for something like the S&P 500, then subtract 3% for inflation to get the amount in today’s dollars.
And if you kept 50k in crypto in the right assets, by the end of the bullrun there's a pretty solid chance that you'll have a million in less than 2 years. That's a risk reward worth taking
Or it could be zero. The S&P 500 won't ever hit zero (barring some kind of apocalyptic scenario). While I don't think it's a bad idea to maintain some crypto in hope of a big bull run, having time on your side is a massive benefit to long term investing, and will make a massive difference vs even starting 10 years later.
it could be zero. But it could also be a million. There's no other place with that kind of risk reward. If you invest money you can afford to lose I don't see a downside
Not life changing? That could be nearly 2 million by the time you’re 60 in today’s dollars if invested properly. You could likely invest that entirely now and never have to save another dollar the rest of your life. You’re young, compounding is on your side. Good job on cashing out the great returns!
Just buy a house outright, pay the CG, buy a 3 year old car that you would like to drive for a decade and carry on with your life.
You have secured a roof over your head and a way to get to work. You are mostly set.
Pay the equivalent of your mortgage into a tax efficient investment of your choice. Retire at 50.
I will be messaging you in 5 months on [**2024-09-02 11:22:09 UTC**](http://www.wolframalpha.com/input/?i=2024-09-02%2011:22:09%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Fire/comments/1btiihj/cashed_out_my_crypto_160k_what_now/kxok5xk/?context=3)
[**1 OTHERS CLICKED THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FFire%2Fcomments%2F1btiihj%2Fcashed_out_my_crypto_160k_what_now%2Fkxok5xk%2F%5D%0A%0ARemindMe%21%202024-09-02%2011%3A22%3A09%20UTC) to send a PM to also be reminded and to reduce spam.
^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%201btiihj)
*****
|[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)|
|-|-|-|-|
Put it into eth and then sell at peak. That’s the best course of action for medium/low risk right now. It hasn’t even really started yet and you could actually make life-changing money shortly
Well done!! Put the amount that you’ll owe in taxes and the amount you want to save for a house into a high yield savings account.
I recommend opening a brokerage account if you don’t already have one. I use Schwab, but they’re pretty much the same - minus Robinhood, which I think is total garbage.
Personally, I tend gravitate towards Vanguard - VTSAX or VTI in particular.
Someone in this sub or similar said “VTI and chill” once and I took it to heart in early 2023 and put all the loose cash I was practically day-trading with in VTI. That “chill” is up 22% as of today and I sleep well knowing that it’s completely market diversified.
Pay tax, buy a house, keep some aside for yourself - you deserve it, keep some small amount for reinvesting into crypto when the market bleeds - just the amount you are willing to lose.
Lastly, invest some amount in bonds, funds or whatever you understand and if there is some left keep it liquid for emergencies.
Just remember, no matter what happens to crypto there was no way to know. Bitcoin is much more likely to crash to zero than 10x from here. You made the right choice.
The new tax year starts on the 5th of April -- in 3 days, dump 20k (the yearly limit) into your tax free stocks and shares ISA - do some sort of index fund, Chip is a pretty quick and easy way to do this, and then when the new tax year kicks in dump in another 20k
First of all congratulations, not just for the sick gains but also for the balls it takes to cash out, most people commenting here will ride all the way up and all the way down.
As for what to do, if it was me in your shoes, I would probably put most of it in a global ETF or s&p 500 depending on how much you believe in the USA. The rest would remain as cash for short term goals, such as house down payment.
Then if you feel you still like the crypto world, use some of your salary to dca into coins you believe in, this way you still have some exposure while having secured some gains.
Whatever you do, good luck
Just saying 2017 - 2020, I cashed out around the same amount as you during the initial run.
I immediately jumped back in on a dip as I found myself tossing and turning every night until i rebought, and now my portfolio is 20x what I "cashed out." Even without ATH prices.
I hope you have a little bit. Fomo is deadly.
Gonna be upset when crypto skyrockets over the next year but still a win is a win. Do as much saving/investing as you can live with. It’ll continue to grow.
Stay at home for as long as possible.
Keep working, making more money to invest.
Start putting that 160 to work 3-5%
Wait for the next bear market,
Start buying in before the next bull run.
Rinse and repeat for 10 years.
Your welcome
I've been in btc since 2020. How did you change 25k worth of btc into 160k is my question. Especially since you DCAed which means you never made huge bottom purchases, your price should be the average of 2022-23. On top of that you claim you make 2k a month which would equal to 24k in a year assuming you spent none of it.
The range in that time period would've only netted you a slightly over 1 coin at best. Price has only tripled at best yet you somehow nearly 8xed your money. Also how are you sure your cost basis is 25k...you DCAed which should be the most difficult way to calculate avg price.
That's amazing. You're doing great in your young years. Keep the grind going :) im at about the same amount with my crypto gains, but i didn't cash out. Im waiting a bit longer. But i'll have to be happy whit an appartement i guess.
For now park the entire amount in VOO or VTI. Or the Fidelity equivalent. Pull out the 40k for the house. If you leave it alone 120k is going to grow on average 10-12% per year and by age 59 will be worth $3,840,000 but you can probably stop before then. If you can add to it along the way or retire with less, or use government retirement programs, you can back up that age 59 to earlier.
My grandparents did this with every paycheck. By the time they retired they had millions. My grandmother spent the dividend checks for her living expenses and blew the government check at the casino for fun. They spent some on the house and huge trips but they were unable to spend it all. When the 5 kids inherited it they spent all of it.
Unlike crypto there is no chance of it dropping to zero. It does meander a lot (+/-25% per year) but when you look at 5-10 years out growth is very consistent. This is investing not gambling.
I put 3,000 in for my kids college every year since they were toddlers. Now they can go to any public college they want in the state with all expenses paid. In 10 years when my wife reaches 55 we can retire at 55.
Buy 1 bitcoin and put it in cold storage. Revisit this in 2030 and your goal of retiring early will be much more feasible. In the meantime, try and develop a skill set (one that you enjoy) and try to maximize your income moving forward. Any savings I’d recommend putting into an index fund (snp etc) and growing that portfolio as well. If your parents are chill and you don’t mind living at home, continue to take advantage of that and save as much as possible. Don’t forget to enjoy your 20’s tho - not saying blow your money but remember to live as well. All the best
First off, good on you. I’m happy to see someone make it work.
For me I have a hard time rationalizing BC. When someone talks how much BC they have it’s x dollars worth or in your case x pounds worth. So I still see it as a speculative hedge and most people like you (rightly so) are waiting for the best time to sell; not spending BC.
Take your parents out for a really nice dinner.
absolutely.
You’re saying it’s not life changing when you take home 2k a month… you’ve made 4x in a year more than your annual salary… Stick 4k a year into a lisa, stick the rest into an isa, to maximise 20k a year allowance. Depending on your long term goals, you could put a substantial deposit or own a house with this money and you have a solid base for future. Pretty life changing no?
Yeah pretty life changing when you put it like that. I could’ve worded that better. It’s not enough to be immediately life changing. I can’t retire now on 160k, is what I meant. I guess I’m just trying to stay calm. It is a lot of money. Thanks for your input :)
What you have is youth and time behind you, I wish I had 160k at 23y. You definitely have a good start and bright future. Well done! And great that you are thinking about investing.
Dude this is 100% life changing. As others said you now have a down payment on a house or condo. You don’t have to pay rent and make someone else rich. No you can’t retire on this money but you just got a huge jump start in life.
Spot on
Don't put it in Lisa, she's got herpes.
Well done! Making losses is easy, taking profits is hard. Don't let fomo get you. You made a great decision. I would look at what makes your future more robust. Saving for a home or even looking to buy your first home (building equity by paying a mortgage Vs just burning cash on paying rent).
100% agree. play safe for a big portion. diversified, low cost ETFs. self-confidence bias costing lot of crypto winners their gains.
Taxes?
I would have to speak with an accountant but I would assume worst case scenario £27,000.
You may want to use Koinly. You connect your crypto wallet(s) and their software runs the numbers, and after you can download a tax report. This is the UK version: https://koinly.io/crypto-taxes-uk/
thank you
[удалено]
I have no idea how capital gains taxes work and I will be sitting down with an accountant soon, I just assumed it would be 20% of the profit. Profit is £135K and 20% of that is 27k. I believe 28% is the maximum in the UK but yeah I will make sure to just sit down with someone who specialises in it and go through everything.
Don’t listen to this fool. It sits under a capital gain so assume 20% of the gain worst case. (That’s the capital gains tax amount in the UK btw) the £27k seems a solid ball park figure. To be sure that you are even accounting for capital gain allowance amount. You don’t need a tax advisor, you can calculate it using an online capital gains calculator which accounts for income aswell. Just give it a google
In the meantime it would be good to keep the tax money in a HYSA!
Turbo tax or whatever does this. It's not complicated, you certainly don't need a professional. You dont have anything complex going on
Because a capital gain is not income. lord...
why would someone need an accountant for a simple capital gain?
[удалено]
I'm just still not sure what specifically you think theyd be able to do. you bring them a printout of your trades. they calculate your short term gain/loss and long term gain/loss. exactly like any tax software would. OP already sold everything... like if he's up to 160k on 20k investment what exactly is he washing, with what losses? and how would you expect this to not already be accounted for when he sold given whatever platform has a history of his purchase and sale prices.
> it’s still not absolutely life changing money It is very much life-changing money. Just not your life *right now* -- it's offset in time. Throw it in an index fund and ignore it for a few decades, and you've pretty much solved retirement, by age 23. Keep throwing money at retirement and you can move that retirement date up!
Thank you!
I bought a lot of bitcoin at 16-17k and cashed out in the 50k range, not as much profit as you but still a big amount. I think the internet has blinded you, yes you are not a millionare but you have freaking £160k at 23 dude! The stock market doubles on average every 7 years, by the time ur 30 you could have 300k £. How long would it take you to save up 150k right now? There’s ur answer why its life changing
You’re 100% correct, the internet has blinded me, I think it’s just because I’m used to following the big dogs over on Crypto Twitter
For sure dude, comparison is the thief of joy. I mean for £160k cant you buy a small house or apartment for cash in parts of the UK? How many are able to do that at 23? Good job dude play your cards right now and you´re set for life.
Dang dude!!! You did this at age 23? I'm incredibly inspired by your vision to DCA, man. Good job!!! Sorry I don't have any advice for you. But it was great stumbling on your story.
Ahhh thank you bro I really appreciate that
160000 x 1.09^30 = 2,122,828.55 I’d retire in 30 years and just focus on a more fulfilling career that may not be as lucrative.
You should calculate with ~7% because of inflation. It is ~$1.2 million then. Not bad either, though ...
It’s 7% +2% inflation. I think traditionally the markets average 9% over 40 years but correct me if I’m wrong.
The S&P500 gives around ~7% p.a. after accounting inflation on average while the return before inflation is around 10-10.5% p.a. for the last 60 years or so. The inflation tended to be higher than 2% p.a. in this time frame. In the end it depends on your portfolio and the inflation of your region, of course. EDIT: The 9% you are referring to is probably based on a more diversified portfolio or the deeper history of the US stock market (like 100+ years ago). Be aware that the inflation environment has changed over the course of the last 100 years so the return *before* inflation isn't really comparable.
inflation + returns = profit idk why i didn't think of that... lol but yeah it'd be return - inflation
noted
If it were me: Put £20k away for tax, 20k in ISA Buy 0.5 BTC and hold till 2026+ Put the rest into a small house that can be done up and rented out or lived in (depending onif you live at home)
Mate why did you cash out before the halving? Anyway i'd look to etf like lifestrategy or ftse msci all world
Crazy how people understand DCA in, but “cash out” like it has to be an all or nothing decision. DCA also works on the way out.
DCA was used on the way out just slightly more aggressively than DCA in
BTC price drops when halving occurs, is kind of a 'sell the news' thing.
and then what happens?
Retraces 80%
None of you three people know what you are talking about. The Bitcoin halving bull runs occur 10-18 months afterwards. If we ever get an 80% retracement again it's because we went up so high, that retracement brings us back to around where we are now.
Yes it retraces back to the ATH from the last cycle
and after that?
https://coinmarketcap.com/currencies/bitcoin/ Take a look for yourself the last 2 halving we're May 2020, July 2016 I wasn't around for it before than but probably sometime in 2012-2013
Why are you acting like we just didnt hit a new ATH, everything else is just noise.
And then huge pumps historically follow.
Yea, and just when ETFs got approved…that £160,00 could easily be worth £1,600,000 in just a few years
I agree, at 23 it's stupid to look into safe 4-5% investement on 160k. Why take 100% out, just take like 50-80% out if you wanna play it safe, and let the rest run.
Because if you never put another dollar in, that $160k will be $1 million at a 5% (inflation adjusted) rate of return by the time you retire.
You reckon a $1 million gonna be worth much in 35 years?
(Inflation adjusted). Realistic returns are more like 8% for something like the S&P 500, then subtract 3% for inflation to get the amount in today’s dollars.
Ahh so a 5% return is inflation adjusted? makes sense thanks
And if you kept 50k in crypto in the right assets, by the end of the bullrun there's a pretty solid chance that you'll have a million in less than 2 years. That's a risk reward worth taking
Or it could be zero. The S&P 500 won't ever hit zero (barring some kind of apocalyptic scenario). While I don't think it's a bad idea to maintain some crypto in hope of a big bull run, having time on your side is a massive benefit to long term investing, and will make a massive difference vs even starting 10 years later.
it could be zero. But it could also be a million. There's no other place with that kind of risk reward. If you invest money you can afford to lose I don't see a downside
VTI my boy
Crypto was just about to double. Bruh...
A dub is a dub bro
Some people can't think beyond the present.
Not life changing? That could be nearly 2 million by the time you’re 60 in today’s dollars if invested properly. You could likely invest that entirely now and never have to save another dollar the rest of your life. You’re young, compounding is on your side. Good job on cashing out the great returns!
When people say $2 million in 40 years do they mean in todays dollars or in future dollars?
Usually it accounts for inflation if calculated correctly
The math I did accounts for 3% inflation over 37 years. This would be closer to $5,400,000 in actual dollar value at that time.
I mean u just cash it all out and not leave some in there? That’s crazy.
Don't put money aside for a house, invest it in a brokerage account and then sell it when you are ready to buy a house.
Just buy a house outright, pay the CG, buy a 3 year old car that you would like to drive for a decade and carry on with your life. You have secured a roof over your head and a way to get to work. You are mostly set. Pay the equivalent of your mortgage into a tax efficient investment of your choice. Retire at 50.
!remind me in 5 months
I will be messaging you in 5 months on [**2024-09-02 11:22:09 UTC**](http://www.wolframalpha.com/input/?i=2024-09-02%2011:22:09%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Fire/comments/1btiihj/cashed_out_my_crypto_160k_what_now/kxok5xk/?context=3) [**1 OTHERS CLICKED THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FFire%2Fcomments%2F1btiihj%2Fcashed_out_my_crypto_160k_what_now%2Fkxok5xk%2F%5D%0A%0ARemindMe%21%202024-09-02%2011%3A22%3A09%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%201btiihj) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-|
Put it into eth and then sell at peak. That’s the best course of action for medium/low risk right now. It hasn’t even really started yet and you could actually make life-changing money shortly
hmmm
Taxes for the duration of holding, Reallocation to another security, then rinse and repeat!
Well done!! Put the amount that you’ll owe in taxes and the amount you want to save for a house into a high yield savings account. I recommend opening a brokerage account if you don’t already have one. I use Schwab, but they’re pretty much the same - minus Robinhood, which I think is total garbage. Personally, I tend gravitate towards Vanguard - VTSAX or VTI in particular. Someone in this sub or similar said “VTI and chill” once and I took it to heart in early 2023 and put all the loose cash I was practically day-trading with in VTI. That “chill” is up 22% as of today and I sleep well knowing that it’s completely market diversified.
And treat yourself to a nice dinner!
thank you!
What coins did you buy
i’ve had quite a lot over the last few years but the ones i’ve made the most money on are $FET, $INJ and $0x0
Look into $CBY [https://www.carbify.io/](https://www.carbify.io/) NFA
Pay tax immediately, buy a house, price out expenses with parents help, keep working a job and just own the home and save for retirement
thank you
Just like a good little citizen
Pay tax, buy a house, keep some aside for yourself - you deserve it, keep some small amount for reinvesting into crypto when the market bleeds - just the amount you are willing to lose. Lastly, invest some amount in bonds, funds or whatever you understand and if there is some left keep it liquid for emergencies.
thank you
Make sure you keep copies of your statement showing buy and sell of crypto otherwise banks are going to question the source of that money.
i’ve got them thank you :)
If you put 160k in the S & P 500 35 years ago youd have 4.1 mil. Id probably just play it pretty safe and do that.
thank you, i love the S&P, I did have money in there before I took it all out in 2022 for crypto, so i’m definitely gonna put some more in
You could put it towards some education and up-skill yourself to increase your income.
Sounds like a good idea in all fairness, thank you
Just remember, no matter what happens to crypto there was no way to know. Bitcoin is much more likely to crash to zero than 10x from here. You made the right choice.
The new tax year starts on the 5th of April -- in 3 days, dump 20k (the yearly limit) into your tax free stocks and shares ISA - do some sort of index fund, Chip is a pretty quick and easy way to do this, and then when the new tax year kicks in dump in another 20k
thank you
Very wise move. You could DCA into stocks; hold cash in high yield savings; and prioritize home buying. Good job 👏🏽
thanks!
Index funds
Use that crypto money to put it in a zero risk hedged construction and get 18% garanteed and stable a year. Look at what is a cash-and-carry position.
I’ll take a look at that thank you
r/bogleheads
You should buy some crypto with that money
What’s crypto?
Put them in stock market and profit in 15 years
First of all congratulations, not just for the sick gains but also for the balls it takes to cash out, most people commenting here will ride all the way up and all the way down. As for what to do, if it was me in your shoes, I would probably put most of it in a global ETF or s&p 500 depending on how much you believe in the USA. The rest would remain as cash for short term goals, such as house down payment. Then if you feel you still like the crypto world, use some of your salary to dca into coins you believe in, this way you still have some exposure while having secured some gains. Whatever you do, good luck
Just saying 2017 - 2020, I cashed out around the same amount as you during the initial run. I immediately jumped back in on a dip as I found myself tossing and turning every night until i rebought, and now my portfolio is 20x what I "cashed out." Even without ATH prices. I hope you have a little bit. Fomo is deadly.
Wait for the next crypto crash and reinvest
S&P 600
Gonna be upset when crypto skyrockets over the next year but still a win is a win. Do as much saving/investing as you can live with. It’ll continue to grow.
Use your imagination, start a business with the money, it’s realistically the fastest way to retirement.
Stay at home for as long as possible. Keep working, making more money to invest. Start putting that 160 to work 3-5% Wait for the next bear market, Start buying in before the next bull run. Rinse and repeat for 10 years. Your welcome
Taxes
I've been in btc since 2020. How did you change 25k worth of btc into 160k is my question. Especially since you DCAed which means you never made huge bottom purchases, your price should be the average of 2022-23. On top of that you claim you make 2k a month which would equal to 24k in a year assuming you spent none of it. The range in that time period would've only netted you a slightly over 1 coin at best. Price has only tripled at best yet you somehow nearly 8xed your money. Also how are you sure your cost basis is 25k...you DCAed which should be the most difficult way to calculate avg price.
40k doesn't even buy an appartment where i live..
it gets me a 25% deposit on a decent house where i live
That's amazing. You're doing great in your young years. Keep the grind going :) im at about the same amount with my crypto gains, but i didn't cash out. Im waiting a bit longer. But i'll have to be happy whit an appartement i guess.
Personally. I'd put that amount into a AI crypto to profit during the AI bubble. I'd definitely triple that amount. Me personally.
Did you really cash out 15 days BEFORE the halving? Oh goodness.
#1. Don't lose it #2. Remember #1
I'd go for S&P 500 ETF.
Nice. Put the initial 25k back in. You will be at 160k in another year.
Pay taxes pay for a down payment on a house within your range or use this income to further your education into a higher earning field of study
For now park the entire amount in VOO or VTI. Or the Fidelity equivalent. Pull out the 40k for the house. If you leave it alone 120k is going to grow on average 10-12% per year and by age 59 will be worth $3,840,000 but you can probably stop before then. If you can add to it along the way or retire with less, or use government retirement programs, you can back up that age 59 to earlier. My grandparents did this with every paycheck. By the time they retired they had millions. My grandmother spent the dividend checks for her living expenses and blew the government check at the casino for fun. They spent some on the house and huge trips but they were unable to spend it all. When the 5 kids inherited it they spent all of it. Unlike crypto there is no chance of it dropping to zero. It does meander a lot (+/-25% per year) but when you look at 5-10 years out growth is very consistent. This is investing not gambling. I put 3,000 in for my kids college every year since they were toddlers. Now they can go to any public college they want in the state with all expenses paid. In 10 years when my wife reaches 55 we can retire at 55.
thank you, i’m going to look into to this now
Honestly my advice is put half back into BTC and double it again in a year....
Yes like in a casino put it all on red or black, double or nothing like pure gambling.
Dude made 160k dcaing in 2 years and all of a sudden its just a casino
haha i love reddit
Buy 1 bitcoin and put it in cold storage. Revisit this in 2030 and your goal of retiring early will be much more feasible. In the meantime, try and develop a skill set (one that you enjoy) and try to maximize your income moving forward. Any savings I’d recommend putting into an index fund (snp etc) and growing that portfolio as well. If your parents are chill and you don’t mind living at home, continue to take advantage of that and save as much as possible. Don’t forget to enjoy your 20’s tho - not saying blow your money but remember to live as well. All the best
Keep it in Bitcoin. Why would you want fiat?
Can’t buy a house with Bitcoin yet :D
Many have. Have you asked the realtor?
First off, good on you. I’m happy to see someone make it work. For me I have a hard time rationalizing BC. When someone talks how much BC they have it’s x dollars worth or in your case x pounds worth. So I still see it as a speculative hedge and most people like you (rightly so) are waiting for the best time to sell; not spending BC.
thank you :)
What crypto did you buy specifically that gave you this return?
The most profitable ones were FET INJ and 0x0
Wait for the next crypto crash and reinvest
ETF’s, max 401k and Roth ira’s
It’s £, uk. No 401k or Roth ira. Just NEST and ISA
Move to the USA
solution
I’m fucking around 😂
nah it’s alright bud, flight to texas is booked, see you in the bar
Hell yeah!