This article discusses the importance of cashing out during a bull market, emphasizing that selling for profit not only improves quality of life but also provides security for future investments. This article is based on a piece by Route 2 FI, organized and translated by Foresight News. (Background: Bitfinex: Bitcoin may reach the peak of the bull market in Q3-Q4 2025, looking at $145,000 to $189,000) (Background information: Bitcoin slightly declines while altcoins flash crash; is the bull market still on?) If you have unrealized profits that can change your life, listen to me: you need to sell it. This is not just a suggestion; it's a lesson I learned from painful experiences. In the early stages of my career, I hesitated to lock in profits, and I regret every moment of indecision. Nominal wealth may fluctuate throughout our trading journey, but the fundamental principles remain unchanged. One thing I gradually came to understand is that selling when it’s enough to change your life brings an immeasurable benefit: permanently improving the lives of you and those around you. Imagine being able to immediately improve your life situation just by clicking “sell.” It’s wonderful! If you have such an opportunity, I strongly recommend that you seize it. I know how tempting it is to wait for the best selling opportunity: believing that if you hold on just a little longer, you can achieve more profits. But the fact is: the best timing is just an illusion. The most successful traders I know did not achieve their current success by perfectly timing every peak; they succeeded through consistent profits and maintaining liquidity. They understood early on that selling for cash is a necessary condition for survival in this game. One of the most liberating realizations for me is that opportunities are always present. This mindset helps alleviate the fear of missing out that traders often feel when considering selling. Yes, giving up well-performing positions may feel unwise, but remember: holding it out of FOMO will cost you more in the long run. I often think about what achieving “escape velocity” means: that is, your financial situation allows you to take planned risks without jeopardizing your life stability. Once you reach that level, you can truly start playing the game and going all in. How much money is enough to retire? As someone who has been considering retirement, I often wonder: how much money is enough? While the media often boasts that it requires astronomical numbers, I believe that for many of us, $1 million to $2 million may be the best choice. Here's why; let’s first look at the issue from the TradFi perspective. In 2022, the average retirement account balance for individuals aged 65 and over was just $232,710. So, suddenly having $1-2 million isn't that uncommon, is it? In fact, only about 3.2% of retirees save more than $1 million. Okay, I get it; the chances are slim that you reading this are over 65; you want to retire before 65. When I first heard that Americans believe they need $1.46 million to retire comfortably, I was shocked. But then I realized something crucial: this figure is an average. Everyone's needs can be vastly different. Let’s consider the 4% rule, which is a common guideline for retirement planning. If you saved $2 million, you can withdraw $80,000 per year. For many, this is enough to live comfortably. Your retirement needs largely depend on the lifestyle you want. Are you planning to travel the world, or are you content with simpler pleasures? The Bureau of Labor Statistics reports that in 2021, the average annual expenditure for those aged 65 and over was $52,141. Savings of $1-2 million can easily cover this expense. Choosing where to live after retirement significantly affects how you use your wealth. $1 million in retirement savings may feel tight in New York City, but can provide a luxurious lifestyle in a small town or abroad. Psychological factors Knowing that you have $1-2 million in savings can alleviate a lot of financial stress, allowing you to truly enjoy retirement life. Ultimately, whether $1-2 million is enough for retirement depends on your personal situation. For many of us, this is not just enough money; it is more than we dreamed of. The key is to start saving early, live within your means, and focus on the things that truly bring joy to your life. Remember, retirement is not just about money; it’s about creating a life you love, regardless of whether you have millions of dollars in the bank. I understand what Fiskantes said above. Once you have put life-changing money into the bank or invested in real estate, you can participate in the market with ease. What do I mean by ease? Well, I’m not saying it’s easier to make money; I mean your mindset is more relaxed. You can make better decisions calmly, letting the trades come to you. And even if you lose, you won't lose everything because you already have a safety net. As Fiskantes said, “The real fun starts from here.” In this sense, this cycle is more interesting for me. If everything goes to zero, at least I still have a safe fallback. That said, some people work more efficiently under pressure, but I think that’s not the case for most. Related reports Bull Market Gold Rush: 6 Trading Rules to Improve Success Rate Overview: Which old altcoins are hitting new highs in this bull market? A Guide to the Bull Market for Veterans: The higher the leverage, the earlier to take profits, clearing out potential coins "The Importance of Cashing Out in a Bull Market: To Improve Life and Continue Investing" was first published on BlockTempo (BlockTempo - The Most Influential Blockchain News Media).