Some call me lucky and from the outside looking in it could seem that way however nothing could be further from the truth of it.
I've been fortunate in some cases but have had some terrible misfortune befall me as well; however luck? No, it's not been luck. Instead, it was hard work and diligence, persistence, ownership and discipline, overcoming fear, taking calculated risks, having a cadre of good advisors, never quitting, going without now for the future ahead and a lot of other such elements that have placed me where I am today.
I'm referring to the financial position I currently hold.
I'm a long way from financially well-off but am in a position to provide for the life I've created - quite a simple life - and can look forward to the rest of it (probably twenty years or so) and feel somewhat confident that I'll have enough to continue to support and enjoy it.
The gathering
I've been careful to diversify my financial position and one element of my portfolio is crypto currency; it's a relatively new addition, mid-2017, however is an important one and I have a reasonable collection of some of the more premier "currencies" and, of course, some Hive which sits in my wallet for all to see and on an exchange as well. It's a tidy sum and I value it however at no stage do I feel able to rely upon it so it's not counted towards my overall financial position or into my future in any way other than extremely loosely.
I made the decision not to spend any of my crypto currency until that spend would make a tangible difference to my life and I've held to that other than with a very small amount to ensure my crypto VISA cards work as intended.
Back when I first started to gather magic internet money I didn't hold much hope for it figuring if things worked out and I returned a dollar or two then great. I invested a small amount of Australian dollars, about $6,000 all up in those early years mainly on BTC, prepared myself to lose it and now...well, things look pretty solid considering what I've added to that through trading.
The spending
Buying loaves of bread using crypto currency never seemed like a good way to spend it and had I done that back in 2017 I'd look back now and want to cut my own heart out with a dessert spoon. But, I'd like to use my gains at some stage and to me it makes sense to do so considering I've no one to leave it to who will need it. But on what do I spend it?
In line with my, "make a difference to my life," requirement I've set it aside to spend on funding a couple of years or more of my life.
I know what my life costs me to live in a comfortable manner right now and have projections with inflation percentages added so know what it will be moving forward as well. I am also not far off from exiting the workforce completely and forever and know what life will look like physically and financially at that stage; I'll be fully self-funded considering I'll be exiting the workforce many years before the official (Australian) retirement age so no government assistance will be forthcoming and even when I age-qualify for it...well, I'll have more funds than they allow so will never get a full government retirement pension because they "means test" it rather than just hand it out.
In those years I plan to do a lot of travel (including 12-18 months of travelling around Australia some more) and that costs money. So, what do I spend some of my crypto currency on? Well, I reckon funding a couple of years of life and an intensive travel program seems like a good enough thing. With my projections I'll have some remaining also and that'll just roll into my overall position and will be used as it's used.
We all have different ideas which is what makes us individuals and what's right or wrong is different based on perspective; the truth is often only revealed in time. I feel my situation as above is a legitimate use-case for funds I've really only spent a very small amount of money and time on gathering.
I also think that when I'm spending it I'll look back on decision not to factor any of it into my main financial position and to hold rather than buy bread, soda's and candy bars and be thankful that I had the foresight to do so; it'll make my time on Hive feel more valuable and the initial small financial outlay, and the time to trading feel very well spent...and I'll also spend the time those funds have given me ("free" time really) in the best way I possibly can.
Design and create your ideal life, tomorrow isn't promised - galenkp
[Original and AI free]
Image(s) in this post are my own