I've been spamming my intentions for cashing out my crypto stash every now and then and I am really wondering how those of you with similar "concrete visions" are going to do with your crypto gains.
I'm sure many aren't 100% sure but those who are, share your concrete plans!
When do you cash out and how are you exactly going to use that money to create a better life for yourself and loved ones?
For me, my crypto exit will look like this:
The Exit
1,4 million after taxes is my exit, through DCA out I plan to acquire this. This is less than 3x my last ATH portfolio value and hopefully should be very doable. Aside from losing 1 BTC to Celsius I've increased my holdings or at least compensated for the potential loss)
The Plan
Then the following happens:
- 550k - personal residence (with small mortgage)
- 200k - office with 2 rental units
- 250k - SPY Lump sum
- 200k - Reinvest in crypto at some point
- 150k - Cash cushion
- 50k - Gifts, Toys, Travel
The Results
- Severely lowered monthly expenses, able to reinvest at least 2k per month from income this way
- Rentable units to create my Fitness and Welness center (costfree due to rent income)
- 250k for the long run in a boring index fund (an extra nest egg)
- a big bag to fill up with crypto again in the next round
- a big cash cushion to make sure me or my loved ones can take a hit and get back up
- Enough money for a bit of splurging on gifts and goodies
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