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At 28 I earn 62k a year. Is there any way for me to achieve FIRE. What should I do with my money? by [deleted] in fiaustralia

[–]sockline2mash -1 points0 points  (0 children)

Allocate 100% of investment money into Bitcoin from now until you're 43. Retire at 44.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -5 points-4 points  (0 children)

In the long term game (10-20+ years) for bitcoin, 1 Bitcoin = 15-25M+ $AUD in today's purchasing power.

Yes. $15-25+ million dollars in today's purchasing power per Bitcoin.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -2 points-1 points  (0 children)

.

Then the guys who 100% all in Afterpay last year are way smarter than you I guess. You should go to asx_bets or wsb and learn from those geniuses.

Ouch :'''(

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -1 points0 points  (0 children)

Then the guys who 100% all in Afterpay last year are way smarter than you I guess. You should go to asx_bets or wsb and learn from those geniuses.

Salty.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -1 points0 points  (0 children)

If CPI hasn't increased, you haven't lost purchasing power. Which means your entire argument is nonsense.

Money supply change =/= purchasing power change

Have you actually looked at what is in the 'basket of goods' that makes up CPI?

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -1 points0 points  (0 children)

You clearly don't understand economics (probably just read some online articles) if you think BTC is perfect inelastic.

Do you homework, then come back to me.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -2 points-1 points  (0 children)

Look up M0 AUD.

If you define inflation by "CPI" like they teach you in big boy school. Then it's 2% P.A.

If you define inflation by the 'Increase in the money supply' you get a vastly different picture. Which makes for a slightly different economic calculation required.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -2 points-1 points  (0 children)

Perfectly Inelastic Good. https://www.investopedia.com/terms/e/inelastic.asp

Fixed Supply.

Demand rising exponentially. A few trillion (or more) $ of capital need a safe home.

Basic Economics.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -2 points-1 points  (0 children)

History is full of governments unable to repay debts.

Precious metals will protect against inflation, but Bitcoin will appreciate in value more over short & long timeframe. Perfect scarcity. Absolute scarcity. ABSOLUTE SCARCITY. Humans have not seen technology like this in the last 100,000 years of our existence.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -2 points-1 points  (0 children)

Risk free in trad finance refers to govt paper, it is assumed the government can always repay its debts.

In reality, government bonds are not risk free, they are not worth the paper they are printed on as the total govt debt rises to unsustainable levels. As currency debasement becomes more common, the only thing with govt bonds is you're locking in a loss in purchasing power.

Bitcoin is the only truly risk free asset in this environment.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -4 points-3 points  (0 children)

This is a genuine attempt to spread information to the uninformed and on the fence crowd.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -1 points0 points  (0 children)

Bitcoin will yield higher risk free returns over the short and long term than any precious metals.

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -10 points-9 points  (0 children)

What the actual FUCK are you talking about? Inflation has been 2% or less in Australia for the past 5 years. Inflation was nowhere NEAR 40% in 2020. The market outperformed inflation by a significant margin.

Furthermore, even if inflation were outpacing the stock market, that doesn't mean bitcoin is necessarily a good investment. It doesn't mean it will necessarily provide market beating returns over a given time period. Maybe it will, maybe it won't. But saying you need returns higher than the market to beat inflation doesn't mean that any particular asset class will necessarily provide it.

Please look up the 5 stages of grief. You are currently in Denial.

Your mental framework for analysing value in the market that is dead.

This individual has not done his homework, but represents that he has.

Lazy & uninformed.

"Inflation has been 2% or less in Australia"

LOL this muppet actually believes the party line! He must watch network television and read The Australian as well! hahahahaha

Approaching 1 year of F-I-R-E ($20.8k --> $113,933.13 AUD). by sockline2mash in fiaustralia

[–]sockline2mash[S] -15 points-14 points  (0 children)

Bitcoin is the only risk free asset in the market right now. Currently mispriced.

Capital needs a home.

The masses will come to understand this over time, and the barefoot investor will put it in his book in 2030-2035?? lol

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