"If you haven't used this money to change your life and that of your loved ones, then this money can't truly change lives."
In the cryptocurrency space, retiring and 'achieving financial freedom' is almost everyone's core goal—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, hard to extricate oneself.
Caught in the cycle of the 'hedonic treadmill,' constantly pursuing fleeting pleasures yet never satisfied.
Blindly following investment trends for stimulation and dopamine release, lacking rational judgment.
Always comparing your achievements with others, leading to unnecessary psychological stress.
When you see friends achieving financial freedom in their 20s, or performing better than you while you are still struggling, the gap can indeed be frustrating. But we often overlook a simple fact: work is just about typing on a keyboard and clicking a mouse day after day.
Financial freedom is certainly the ultimate goal, but rather than solely pursuing that elusive seven or eight-figure net worth, it's better to shift your mindset and learn to be grateful for the achievements you've already made during the process of chasing your dreams.
For example:
If you can save $100,000 before the age of 30, that's already an incredible achievement! Remember, this number is an unattainable goal for many. Congratulations!
Even if you can't retire at 30, achieving financial freedom between 35 and 40 is still something to be proud of. After all, most people need to work until 55 or 60 to save enough for retirement.
Besides pursuing financial goals, why not treat this journey as a fun game? Set different milestones for yourself, and reward yourself with a special life experience for each goal you achieve. 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 your wealth accumulates, there are many things you can do to enhance the quality of life for you and your family before reaching financial freedom.
Parents and family
Have you improved your parents' quality of life? For example, upgrading their car, house (buying or paying rent), or getting new electronic devices (laptops, phones, fitness wearables, TVs, etc.).
Provide everyday comfort items, like more comfortable shoes and clothing.
Take them on trips to places they have always dreamed of visiting.
Treat them to fine dining experiences, such as Michelin-starred restaurants or high-end Japanese cuisine (Omakase).
Cover their health expenses, including insurance, physical therapy, dental care, or emergency medical costs.
Set aside a portion of your assets as a retirement fund for your parents.
Do you need to hire housekeeping staff or a personal trainer to help them?
Upgrade household items, such as a Dyson vacuum cleaner, smart home devices, or new appliances.
The health and ample savings of parents are the most important guarantees for their old age. We should share this luck from the crypto industry with our family. They were once our support, and now it is our turn to become 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 everyday expenses, travel costs, or shared travel expenses.
Help them enhance their quality of life, such as purchasing electronic devices, high-end daily necessities, or even luxury handbags (if they like).
Your partner has probably stood by you through those days of staring at screens, needing to 'follow the trend' in investments (I can't be the only one like this). Having a supportive partner is the most valuable asset you can have. They celebrate every small achievement with you, providing a strong backbone in this high-pressure industry. This support is priceless.
Yourself
Have you always wanted the latest gadgets or new products from your favorite brands? Treat yourself moderately with your income.
Pay off all debts (student loans, credit cards, bank loans).
Withdraw to buy 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 cooling mattresses, memory pillows, or weighted blankets. After all, 6-8 hours a day is spent sleeping.
Enhance convenience of life, such as hiring a driver, chef, or personal trainer, or a physical therapist.
Health care, such as going to a spa, sports massage, or participating in health or detox programs.
Cultivate new hobbies or learn new skills to enrich your life.
In this industry, managing market volatility, portfolio drawdowns, while maintaining family and social relationships is indeed very exhausting. Be kind to yourself by enhancing your quality of life and investing in yourself. If this money doesn't change your life, then it doesn't count as truly life-changing wealth.
Example: How to gradually enhance quality of life through different milestones
Stage One (Five-Figure Net Worth)
Ensure all debts are paid on time.
Prepare 6-12 months of emergency savings.
Provide a monthly allowance for your parents.
Purchase insurance.
Upgrade your phone and laptop to improve work efficiency.
Stage Two (Six-Figure Net Worth)
Pay off all remaining debts or loans.
Reward your loved ones, take them on trips, and enhance their quality of life.
Invest in upgrades for yourself and your home.
Continuously convert some of your earnings into fiat currency to reduce investment risk.
Stage Three (Seven-Figure Net Worth)
Withdraw to buy a house or a car.
Diversify investments into other assets, such as real estate, watches, or stocks.
Establish a retirement fund for your parents.
Stage Four (Eight-Figure Net Worth)
Establish your own fund or family office.
At this stage, consider hiring a private chef, driver, or masseuse.
Help your parents achieve full retirement.
Summary
Don't wait until you achieve the ultimate goal to start improving your life or giving back to loved ones. During the pursuit of financial freedom, gradually enhance your quality of life through different milestones. You can not only bring positive changes to yourself and your family but also enjoy the journey better.