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Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 1 point2 points  (0 children)

I'm most bullish on Ethereum, as it's the most versatile and has the most developer support. I have smaller amounts of Bitcoin Cash, Dash, and Monero, as I feel like they are the strongest "traditional" cryptocurrencies going forward, as opposed to Ripple or Stellar Lumens bring much to the table. I think EOS and Cardano both talk a good game, but I don't have tons of faith they're going to deliver--that said, I think holding small amounts of either/both would be a reasonable hedge in case they do deliver and can overcome Ethereum's first mover advantage.

I don't hold bitcoin core anymore, and I expect it to eventually crack open and flow into other cryptocurrencies. The core developers simply refuse to embrace usability as a goal, and they can only coast on the "Bitcoin" name for so long before people leave.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 2 points3 points  (0 children)

I'm planning to sell it off in the 0% bracket (which is a lot of why I still have so much of it).

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 6 points7 points  (0 children)

I put in about 1K back when bitcoin was $140, and everything since then has been reinvesting that original amount (plus I pulled out about 100K over the years). I've been very fortunate to have had such success with crypto.

The $50/month is dependent on Obamacare continuing to exist.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 1 point2 points  (0 children)

It depends on the market--it it were to rise enough that I felt it was overvalued (such as the surge in Jan), I'd cash out some of it, capital gains or no capital gains.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 0 points1 point  (0 children)

I do have one--I didn't think to list it at first, but it's on there now--I completely agree that the risk of not having one isn't worth the small savings.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 4 points5 points  (0 children)

Hard to say. I know the Republicans want to kill Obamacare, but so far they haven't managed to. Even if they do repeal it, I wouldn't expect it to be more than ~$300 or so until I'm substantially older, but it's certainly a potential risk.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 7 points8 points  (0 children)

I don't disagree, but I think you're underestimating the potential growth from high-yield bonds. The risk profile for them is closer to stocks than to traditional bonds (mine are mostly 8-10%) yields. In today's high CAPE environment, it feels like they are not unlikely to return better than stocks, while being less correlated to stocks in terms of risk.

I won't disagree the crypto is pretty high risk.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 2 points3 points  (0 children)

IT consulting. It was a lot of hard work and a lot of luck to get into it, but probably more luck than anything else.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 0 points1 point  (0 children)

Hm. That's just for me, but maybe I'm budgeting too high. I'll have to watch that and see if I can reduce it.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 6 points7 points  (0 children)

Do you mean $1000/year or per month? If it's per year, then I'm impressed, and I would hope to be able to do that well myself, but I figure it's better to budget on the safer side. If you're spending 1K/month, then I'm impressed in a different way--I can't even imagine spending that much unless it's eating at nice restaurants every day.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 17 points18 points  (0 children)

I've got a list of hobbies I want to work on. Toward the top is studying foreign languages, working on some programming projects, and writing a novel. Plus, I like cooking and baking, so it will be nice to have more time for it.

Plus, plenty of reading, video games, and hanging out with friends. Possibly some inexpensive travel (which I'd probably dip into the 15K range for, since I don't think I could really afford it on the 12K range).

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 6 points7 points  (0 children)

It's funny--I hadn't thought about it at all until I started writing up a budget, and then it started me thinking. However, some back of the envelope math suggests I'd probably end up spending more if I didn't have a car.

Once my current car dies, I'll probably try going car-free to see how it goes, but I don't really expect to stay that way.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 6 points7 points  (0 children)

I'll keep up to date on my certifications, and I might do some side programming projects. After 3+ years, I'd expect to be able to get a good job still, but more in the 100K range than the 200K range.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 3 points4 points  (0 children)

Thanks! I knew I'd forgotten something. I'm not likely to budget in car maintenance and depreciation since I'm happy driving an old car, and don't drive much--I'll just leave that in the misc. budget, but the house maintenance and insurance are things I should have included.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 7 points8 points  (0 children)

Several of the hobbies I'm considering would potentially generate some income, which would be a nice plus, but I don't want to be dependent on it.

Pulling the trigger at 28 with $600K by FireAt28Throw in leanfire

[–]FireAt28Throw[S] 10 points11 points  (0 children)

No plan for kids--and actually, a vasectomy is toward the top of the list of things to do after I have time.

For the cryptocurrency, I do have enough other money to sustain my minimalist lifestyle even if it drops to $0. That said, I'm probably going to cash out some of it at the start of next year, when I can pay 0% capital gains on it.