What is financial security to me?
It's not millions of dollars.
While that does sound nice it's not the long term plan.
Don't get me wrong. If it's there I will take it but my lifestyle is far more simple than that.
Financial security to me is a very simple concept.
Having enough money securely that I don't have to work to maintain my lifestyle at any given time.
That means safe and secure funds that will keep me going for the next twenty years.
that means having a house that we can afford to pay the mortgage without taking any extra measures.
If i could buy it outright even better but not necessary.
I don't have an extravagant lifestyle so once we have the house, the car, a holiday once a year and enough for a few pints. That would keep me happy for the rest of my life.
What is the number on that?
I couldn't say precisely but the biggest part of this would be our next house. It's the part that is guiding most of our decisions right now. We have a small three bed house right now for a family of four that probably needs two offices going forward to work from home.
This means a five bed house with a small bit of land around it. Probably around 500,00 ready to walk into.
That means a big mortgage of 1500 per month split in two.
Another 1000 a month for bills and such. Then 500 for savings, pints, fun ect... for the month.
Probably looking at 2,500 a month to be comfortable after taxes.
30,000 a year by ten years is 300,000 to be comfortable in my life as it stands. That would be a good number to have in the bank or a savings account to be secure in my finances.
It's not actually that much considering how fast you can multiply some funds if you get going.
that's not even counting the risky money that i could put into crypto funds and the possibilities for earning over those ten years.
That would free up my life for what i want to be doing safe in the knowledge that my expenses were covered for the next decade. That is a good position to get into and frees up the riskier bets.
It's possible.
Looking at how the hive eco-system has expanded over the past couple of years gives me a lot of hope to getting into that position sooner rather than later.
Things are growing so fast and expanding in so many directions right now that i can only see it being a success. One that i was lucky enough to be here early for and took a bet on.
It's opened up so many options for the community here and continues to provide more chances to get involved in the eco-system every week.
Financial security is always the goal and being able to create my own path in life without being held to ransom by a wage.
That is only a faint dream to a lot of the world but if they knew what we know then they could try to change their lives as well.
Start earning form any of the opportunities here.
Invest it back into that business.
Earn more in the future.
Keep repeating until you have enough to repeat the same in the next project and keep going.
It might not work out for any of us but if it does we will be in a great place for the future.
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One of the things I keep forgetting to think about is the opportunities on Hive that don't even exist yet. There will definitely be something arriving here in the future that nobody has even thought about yet. Imagine the opportunity in that from just being an aware hivian. Really can't go wrong here when building savings.
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My main plan is stacking hive and HBD but there is so much coming down the line in the next couple of years that it's impossible to know how it will all turn out.
We made posts about what might be here by 2022 but nobody mentioned cub or leo ads. Splinterlands land sale or other developments.
There is plenty in the works right now that we have not heard of yet but im sure that somebody has thought up a great idea or two to get going with.
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I'm pretty confident that all the mistakes I make will be fine as long as I stay in the hive ecosystem. Im a little in cub and a little in polycub and I have a 15,000 collection power on splinter but don't really have control or a strategy with any of them. But I can always count on hive. (I think). I'm really interested in Project Blank. That is the place for me and hopefully its another "killer" app for hive
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It's fun to mess around with other projects and systems form time to time but ya. Hive is home and my best bet for the future.
As long as it survives i'll keep building my stack, writing and commenting.
Learning more and getting ready for when the eco-system explodes.
Posted Using LeoFinance Beta
Other than BTC and Eth I've never had a win. Trouble is I never added to those. I bought a gift for someone with btc and had .2btc left over. BTC had just hit $400 when I bought it. I still have it but never leveraged more in. With Hive, I'm always stacking without fear. But as you said, as long as it survives. I don't think I can ever see it going below $.10 and even then I think it survives as a chain. I just need to learn to make moves. Dip in and out for profit and things like that.
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Many people realize that their freedom was restricted with the financial boundaries. After the realization, the next action has always been saving themselves from the rat race. Within the global crisis, I hope everyone to focus on financial freedom for a better life ✌
The period we are going through is really operating as a wake up call for many people. The slumber is coming out of the eyes of many.
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Since quitting the job last November i have seen how much better that life can be when your not tied down to a wage and to a company that couldn't give a fuck whether you live or die.
The more people that can break the cycle the better over all.
Hive has given a lot of people that opportunity and over the next few years i can see it happen for a lot more people.
It wouldn't take much to have financial freedom in the developing world if they only knew what could be done in spaces like this.
Posted Using LeoFinance Beta
Opportunities are plentiful in hive. The ecosystem is the best of any defi. It has enable me to earned some Leo, cub, polycub, hbd, hive, and many others. The polycub staked into xpolycub is an almighty gem. These can make you ton of money !
It has really expanded over the past couple of years and opened up opportunities across multiple chains.
Great news for us and at some stage price will catch up to utility.
When that happens then we are really going to see the good times roll.
Any one of these could become a big thing but combined they will make a great ecosystem that will rise in value over time.
Posted Using LeoFinance Beta
That is just the starting point. Wait until we get the collateralization wheel going.
Once that starts, we can write our own tickets.
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We're pretty much the same when it comes to financial security. Buying myself time and staying away from the legacy system is more important to me than buying myself cars and gizmos.
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It's a good attitude to have i think and should pay off in the long run.
We will be laughing in ten years when others are still living month to month, tied down by a mortgage and dreaming of retirement.
We will be financially stable and able to make our own choices in life based on our wants rather than neeeds.
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I have a very similar situation. I don't need much, just enough to pay for a small house, food and a couple luxuries for myself every now and then. Other than that, I just want to be able to help my family in case they find themselves in trouble.
I did the math and I have a target. Not going to be easy but I'm sure Hive will help me get there
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I think that is the majority of the world to be fair. There are always those wo are greedy or want more than they could ever have but most people want a simple life with their family and friends and some financial security to live that way.
It's not that much to ask really.
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I am in mid-30s and suffering from working harder on job which in short means burnout. Now I want to get rid of tying myself to the job income and be financially independent. Crypto is my only source to get there. I hope content writing and crypto becomes my ticket to happy second half of the life after 30s. :)
I'm mid thirties as well and worked in a high pressure job for the past 13 years.
Thankfully i have earned a good bit of money form crypto in the past couple of years and can now use it as my main source of income for the next while.
I'm not independent yet as it still depends on the price of crypto not dropping anytime soon but eventually i would like to earn enough that i will be safe regardless of market prices.
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I like your plan and definition. Here I only rent a 2 bedroom cottage style smallish house and pay $1500/mo, since my uncle is the landlord and gives me a discount. :P
how many exactly, is a few pints??
That's not so bad.
it's all about making good choices now so that you can have more options in the future.
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I love all the opportunities on Hive and there are so many choices. I think HBD is starting to become a key part of what I could consider a source of passive income. If we can maintain 20% APR, then just letting it compound now would allow me to be financially free in the future.
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I was planning on building a big stack of HBD at 12% and letting it build to 250k over the next few years for that same security in the future. At 20% that means that i would need a lot less capital in the savings as well as getting there a lot faster form the compounding interest every month.
It's a great opportunity to grow our savings and build toward financial freedom.
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Good luck on your journey to achieve your financial goals. I am working to secure my retirement. I am making some progress and you can do it too!
It's still very early in the game but every single year brings more and more progress towards that goal.
Best of luck in your journey as well and hopefully we can all make it there at some point.
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5x your numbers and then you are in the game. People seem to underestimate how big this is going to be.
When you realize the options that are truly being presented and how we already saw this movie once, to the tune of hundreds of trillions, if not quadrillions, then it becomes clear what we need to do.
If we achieve it, then you will be in position to enjoy basically whatever you want financially. That is how big this all is.
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That's the plan over the next few years.
We have all managed to 5x our numbers this year with the positive crypto cycle so now we just need to go and do it again.
Thankfully i can now live week to week on my crypto earnings so the next step is to go up a level and have enough safely stored in stables or similar to secure me for the next few years.
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The more people who can make comments/posts like you just did, the greater the chance that what we are discussing will be realized.
A little bit of network effect is going to go a long way.
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