1340 sats \ 16 replies \ @orthwyrm 9 Sep 2023 \ on: Daily discussion thread
I feel good. Looking at my monthly budget, I've cut expenses to the point where 50% of my salary goes into BTC.
Great going!
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Thanks. I have taken a lot of inspiration from the FIRE community, but substitute index funds for BTC (which they hate, haha).
There isn't much else I can do at this point to stack harder aside from changing jobs, but I really like my current workplace and it still pays pretty good.
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Thanks for the share. I’ll look into them. If you can tolerate your job and stack why not stick it out?
In another life I followed financial markets pretty closely and the advice of a group on an investment forum called ‘The Motley Fool’. Put what you can into a tax efficient - in the UK at that time there were some good options - but most importantly a low cost fund; index trackers being preferred. Reinvest your dividends until you need them and then drawdown. I did very well off this advice although the compounding is missing from BTC, somewhat replaced by the exponential growth. Sadly for me I suffered a personal tragedy and have had to start again.
These days I work minimum wage and save $1 a day into my BTC pot. Will it give me enough to retire early? Probably not at this rate lol! But I’m studying and I have some skills so I will get back into a decent job and invest again - only BTC this time. Small steps.
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I think my favourite blog is Jacob's ERE, although it's quite hardcore:
Was it you who said they were studying Economics, Philosophy and Politics? You always struck me as a pretty switched-on guy, I'm sure you can turn things around.
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Yeah! MMM has written some great articles (my favourites are about bikes).
He's rather against Bitcoin and has unfortunately written some pretty braindead takes on it, and I feel like he's gotten way softer in frugality over recent years. But his older articles are gems.
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Ah yes, THAT article...
I first heard of Bitcoin during the 2017 bullrun, then read MMM's article and wrote it off as a scam way up until 2020!
Yes Jacob's book is quite cool, it mostly rehashes content you'd find on his website though.
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Kind of you to say. That’s my subject. I’m assuming we are in a similar geographic location in the world so you may appreciate there are opportunities out there, but you really have to work for them.
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Indeed, it's rough out there. Especially if you're outside the southeast.
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Yeah
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