So, You're A Crypto Millionaire. Now What?
Most lottery winners are broke within five years. Further, they are often less happy than they were before they won. Don't let this be you. Have a plan. Have a vision of what to do with the money. And don't tell anyone.
Many, many people are going to become crypto rich, and most of those people are going to lose it all.
Rich people think differently, and it is important to purge your thoughts of poor-ness.
Middle-class people do not think rich, although they will claim that they know about money and how to manage it. Unfortunately, all the do is control their spending.
The poor also think they know about money. But, say things like, "if you don't buy a lottery ticket, you can't win," and think that shows how smart they are.
The banksters don't want people to be money-smart. That is why financial literacy is not taught in school, although it should be why and HOW we teach math. It is the reason why "Lifestyles of the Rich and Famous" and the Card-ass-ians are a thing. (showing people how comparatively poor they are, and discourage anyone from even trying)
Fortunately we can train ourselves out of our poor and middle-class thinking.
And this is very important because we can either make a better world, or just blow our riches.
Think and Grow Rich
This book was written by Napoleon Hill because he found that people couldn't get rich after he gave them good advice. In fact, they couldn't even stop being poor, although he told some exactly what to do.
The problem is not the money, nor even the currency, it is the stories that live between your ears.
There have been several shows, several examples, of a rich person dropped off in a city with a mere $100, and follow them as they become a millionaire again.
And their are statistics about lottery winners. Who took all their winnings and blew it within 5 years, and became poorer than they were before they won. This happens to over 95% of lottery winners.
The difference between these two is the stories that they believe.
A poor person believes that it is the expensive car that makes them rich. So, the poor person, will go out and finance themselves to the hilt, to buy a fancy car. Thus, insuring they will ALWAYS be poor.
A rich person goes out and buys a reliable car. All the self made millionaires drive things like 10 year old Toyotas. Often, 10 year old Toyota trucks, because they have to go fix their rental properties.
A good rule of thumb is, if you can't buy 5 of them, you can't afford one of them. The car doesn't make you rich, saving money and time by buying reliability does.
There is hope
Right now, our debt based fiat currency means that savers are losers.
Money in the bank is similar to just burning cash to watch it burn.
If we move to a non-inflationary crypto currency, this changes.
Then, saving crypto is not only better than money in the bank, it can also be the best investment to just let it sit there.
A rental house is expensive to maintain. Insurance, repairs, and the administrative costs eat at your profit.
What if you can get better returns because bitcoin just keeps going up in price? You can just sit on your bitcoin, while it becomes more valuable, instead of putting all that money into rental properties, and getting less.
So, the "money" will align with what poor and middle-class people think is what to do with money.
Just reducing the 5% per year loss via bankster skimming/inflation, will make poor people far better off.
Really think about your goal
So many people have an dream of being rich. And they think that being rich is spending time find dining, living on yachts, and going to fancy places. And, if all you want is continuous new experiences without much substance (so you don't have to think to deeply) then this may be the life for you.
However, think about it differently. Do you know you can basically live on a cruise ship for less then you are paying for your house? If you have passive income, or can make income on-line, so anywhere. You can live this way.
You can also live in most resort places for less than it costs to live in a typical American house. As long as you avoid the expensive restaurants (you can get the good food if you know where to go, without the super high price tag), avoid the expensive clothes, and avoid buying things that will just sit there, like fancy cars, which need insurance and a fancy garage, which you have already decided you will only visit. Renting a car and driver, overseas is often cheaper owning a car in America.
If what you want is to feel secure, and to live stress free. Get yourself a homestead. A greenhouse that is mostly automated. Chickens that basically take care of themselves.
This is only difficult because the up front costs can be difficult to overcome, especially for someone who is also trying to hold down a job, in a city, far away. But, if you get a crypto windfall, you can even pay for someone else to build all the structures.
When you have your homestead going, you basically drop your expenses to close to zero. However, most people look at the upfront costs and balk at the idea. However, if you become a crypto millionaire, there isn't many better uses of your money.
So, think about what you really want. And think of all the ways you can get it. The normal ways, that have a lot of salesman, waiting for your call, are usually just expensive, without any other benefits.
Changing how you think about money is difficult, especially when you rarely have any opportunities to practice. However, it is THE way. You HAVE TO change your thinking before you will be rich.
Even if you become a crypto millionaire. You will lose all that money unless you change your thinking.
However, if you are stuck in the middle-class thinking, plan to buy all the things you really need to live your life. Property in a good place. House with passive heating and cooling. Greenhouse that can really grow year round. Pay all of your property taxes in advance. And then, when you become broke again, you have most of what you need to live.
So, make a plan and then follow the plan.
Most great plans, for lottery winners, include blowing cash. Do not try to keep yourself completely bottled up. Take part of the money and go blow it. Rent a fast/hot car, and see how you like driving. (there are driving schools that have supercars. You rent one, and get lessons and actual driving experience.)
In the near future, satoshis are going to pay for your groceries.
The value increase will be that big.
So, be prepared to be rich, and think rich.