Author Topic: Becoming Financially Free With Bitcoin  (Read 618 times)

FinanciallyFreeFox

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Becoming Financially Free With Bitcoin
« on: August 27, 2019, 02:55:27 AM »
Everyone has a slightly different method for becoming financially free, based on their personality, skill-sets and appetite for risk.

I haven't come across many other FIRE/financial freedom enthusiasts though that are using Bitcoin to become financially free, so I thought it might be interesting to share what I'm doing.

My plan, simply put is:

Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
Wait for that investment to grow by 5-10x
Pull out my profit and invest into residential property
Live off the rental income (passive income will be £100,000 / $120,000 p/a)

That’s if it goes according to the plan I’ve detailed here: https://youtu.be/SiYc6ipKefQ 

It would be interesting to hear if anyone is doing anything similar to this, and what peoples' thoughts are.

Some may perceive my plan as extremely reckless.

I know I could potentially lose everything that I invest, but I’m prepared to take that risk, because in my mind the potential reward outweighs the potential risk.

If Bitcoin goes to 0, then it will be a major setback. It won’t ruin me, but it will take me two years to save up that money again (saving £50k from my £75k post tax income).

If it pays off, my route to financial freedom will be LIGHT YEARS faster than I could ever expect from property, gold, bonds, or investing in the stock market as a whole.

Although I fully understand the risk involved, I don’t see this as a gamble. I truly believe in Bitcoin as a technology. I’m willing to bet on something that I believe will have a positive impact on the world going into the future.

If I’m wrong, I’m wrong. That’s it. Start again.

But if I’m right, my life will change.

That’s really just a brief summary of my investment strategy (there is actually a bit more to it) - I’ve created a video, also linked to above, with a clearer explanation here: https://youtu.be/SiYc6ipKefQ

It would be interesting to hear if anyone is doing anything similar to this, and what peoples' thoughts are.
« Last Edit: August 27, 2019, 03:07:09 AM by FinanciallyFreeFox »