'If you do not use this money to change the lives of yourself and your loved ones, then this money cannot truly change lives.'
In the cryptocurrency industry, retirement and 'achieving financial freedom' are almost everyone's core goals—after all, this industry has become the best stage for going from nothing to financial freedom, sometimes even creating generational wealth overnight.
However, behind this rapid wealth accumulation are some concerns that cannot be ignored:
Long-term obsession with high-risk, gambling-like investment behaviors, difficult to extricate.
Falling into the cycle of the 'hedonic treadmill', constantly pursuing fleeting pleasure but never satisfied.
In pursuit of excitement and dopamine release, blindly follow trends in investing, lacking rational judgment.
Always comparing your achievements with others, leading to unnecessary psychological pressure.
When you see friends achieving financial freedom in their 20s, or performing better than you while you are still struggling, this sense of disparity can indeed be discouraging. But we often overlook a simple fact: work is just about hitting the keyboard and clicking the mouse day after day.
While financial freedom is indeed the ultimate goal, instead of blindly chasing that elusive seven or eight-figure net worth, it might be better to shift your mindset and learn to be grateful during the dream-chasing process, cherishing the achievements you have already made.
For example:
If you can save $100,000 before the age of 30, that is already an incredible achievement! This number is an unattainable goal for many. Congratulations to you!
Even if you can't retire by 30, achieving financial freedom between 35 and 40 is still something to be proud of. After all, most people need to work until they are 55 or 60 to save enough for retirement.
Why not treat this journey as a fun game instead of just chasing financial goals? Set different milestones for yourself, and reward yourself with a special life experience each time you achieve a goal. This not only makes the pursuit of wealth more enjoyable but also allows you to enjoy more of life's beauty on the way to achieving your ultimate goal.
As wealth accumulates, there are still many things to do to enhance the quality of life for you and your family before achieving financial freedom.
Parents and family
Have you improved your parents' quality of life? For example, upgrading their car, house (buying a house or paying rent), or getting new electronic devices (laptops, smartphones, fitness wearables, TVs, etc.).
Provide daily comfort items, such as more comfortable shoes and clothing.
Take them traveling to the places they have always dreamed of.
Treat them to fine dining, such as Michelin restaurants or high-end Japanese cuisine (Omakase).
Cover their health expenses, including insurance, physical therapy, dental care, or emergency medical costs.
Allocate part of your assets as a retirement fund for your parents.
Do they need to hire a housekeeper or personal trainer to help them?
Upgrade home appliances, such as a Dyson vacuum cleaner, smart home devices, or new home appliances.
The health of parents and sufficient savings are their most important guarantees in old age. We should share this fortune from the crypto industry with our families. They were once our support, and now it’s our turn to be their pillar.
Spouse/Partner
Your partner may have a traditional 9-to-5 job and may not understand the 'internet wealth magic' that we are familiar with.
You can support them by covering some daily expenses, travel costs, or expenses during joint travels.
Help them improve their quality of life by purchasing electronic devices, high-end daily necessities, or even luxury bags (if they like them).
Your partner has accompanied you through those days of staring at the screen all day and constantly needing to 'follow trends in investing' (I can't be the only one like this). Having a supportive partner is the most valuable wealth you can have. They celebrate every little achievement with you and provide a strong backing in this stressful industry. This support is priceless.
Self
Have you always wanted the latest electronic products or new releases from your favorite brands? Use your income to reward yourself moderately.
Pay off all debts (student loans, credit cards, bank loans).
Withdraw to purchase a car and a house—paying off loans or mortgages in one go means you are one step closer to financial freedom.
Improve sleep quality, such as purchasing mattresses with cooling features, memory pillows, weighted blankets, etc. After all, you spend 6-8 hours a day sleeping.
Increase convenience in life, such as hiring a driver, chef, or hiring a personal trainer or physical therapist.
Health care, such as going to a spa, doing sports massages, or participating in health or detox programs.
Cultivate new hobbies or learn new skills to enrich your life.
In this industry, managing market fluctuations, portfolio drawdowns, while maintaining family and social relationships is indeed very exhausting. Treat yourself by improving your quality of life and investing in yourself. If this money is not used to change your life, then it doesn't count as truly life-changing wealth.
Example: How to gradually improve quality of life through different milestones
First stage (five-figure net worth)
Ensure all debts are paid off on time.
Prepare 6-12 months of emergency savings.
Provide parents with a monthly allowance.
Purchase insurance.
Upgrade your phone and laptop to improve work efficiency.
Second stage (six-figure net worth)
Pay off all remaining debts or loans.
Reward loved ones by taking them on trips and improving their quality of life.
Invest in upgrades for yourself and home life.
Continue to convert some of the profits into fiat currency to reduce investment risks.
Third stage (seven-figure net worth)
Withdraw to purchase a house or car.
Diversify investments into other assets, such as real estate, watches, or stocks.
Establish a retirement fund for your parents.
Fourth stage (eight-figure net worth)
Establish your own fund or family office.
At this stage, consider hiring a personal chef, driver, or massage therapist.
Help parents achieve complete retirement.
Summary
Don't wait until you achieve your ultimate goal to start improving life or giving back to loved ones. In the process of pursuing financial freedom, gradually enhance the quality of life through different milestones. You can not only bring positive changes to yourself and your family but also enjoy this journey better.
This article is reprinted with permission from: (Deep Tide TechFlow)
Original author: Ash
'The Philosophy of Happiness in Cryptocurrency Investments! An article that teaches you how to spend money, don't wait until financial freedom to start living' was first published in 'Crypto City'