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People who say shit like "crypto is my only hope for financial freedom" and "bitcoin is the only escape from financial tyranny" should stop fooling themselves

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by COINS NEWS 99 Views

First of all, let's think about how much money you actually might need for "financial freedom" which probably means something like, you don't need to worry about all of your bills any more for the foreseeable future and don't have to work any more and can just enjoy life.

This isn't about showing off and flexing on insta in lambos and Gucci or whatever vapid influencer bullshit people like that are in to. You won't be traveling much on private jets and shit like that.

Well, for one you need to own a home/condo with the mortgage completely paid off. Which might be around $600K - $1.5M depending on where you live.

And then you would ideally want to be generating like $65k-$100K a year in passive income. You probably need another $800K-$1.5M invested in safe dividend stocks, some reits, mutual funds, managed accounts and thinks like that.

How much money do you think you would need as an initial investment in crypto to get $2M-$3M?

People joke all the time about how do you make a million in crypto? Start with a billion.

If you already have that kind of money ready to throw into crypto, then you shouldn't be saying shit like "crypto is my only hope".

What are you going to do? Yolo into "ignore fud" token. (This is a real token btw it was trending on cmc recently)

At least max out your 401K and other types of tax advantaged accounts in your country.

Diversify your investments.

Stop "investing" only in crypto where the real investment case actually is "I'm buying this token and I hope more people buy it after me at higher and higher prices until it's time for me to sell".

When I invest in AAPL I don't desperately hope that others after me go and buy the stock too. I would much rather they buy Apple Products like Ipads, macbooks etc.

Let me know your thoughts.

submitted by /u/experiencenonsense
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