Road to financial freedom

[ken999]

Numbers at the end of each year since the year i turned 18y

net worth on 31.12 in CHF
2012 5k
2013 15k
2014 20k
2015 30k
2016 100k
2017 500k
2018 300k
2019 400k
2020 900k
2021 1.3M
2022 700k
2023 1.3M
2024 currently c.a 1.8M

all that was done without ever earning more than 5100 brutto. no inheritance no scamming.

invested in bitcoin late 2013 bought propert in late 2017 almost exlusively with my own savings and a small part of btc profits. since then didnt really sell anymore and started to diversify a little with mostly invidual stocks and one private equity investment in late 2018.

distribution of my net worth right now

11% real estate
stocks and private equity investments 9%
Crypto 80% ( 67% btc 20% ETH, 13% alt/shitcoin)

and yes everything declared to authorities so that i can sleep well at night.

 

[mart113]

@ken999 "I won in a lottery, and so can you!"

 

[ken999]

@mart113 no lottery

 

[obelex]

@ken999 What was your nw at the bottom of last years crypto crash?

 

[ken999]

@obelex at the very bottom at 16k maybe 600k or so

 

[obelex]

@ken999 You plan to get out of btc to more traditional/ less volatile assets?

 

[ken999]

@obelex not really. maybe small parts 5-10% in case i feel like the market is overheating but i dont intend to sell. im not a trader buy&hold has done the best for me so far

 

[mart113]

@ken999 So still pretty much all from the casino proceeds

Still, good for you, congrats. Going in so early, you can hodl and ignore pump&dump cycles.

 

[ken999]

@mart113 im not a gambler. i once went into the casino with 25 CHF freechips and left with 80 chf thats it

 

[empta]

@ken999 Those are pretty impressive numbers considering your gross income. In your shoes I would consider shifting to traditional finance markets to reduce volatility and ensure your future financial freedom. If this is your actual goal, at least. Otherwise, if your goal is to get insanely rich... keep praying for BTC to hit 100k then.

 

[ken999]

@empta i might do that if i feel like the market inflates. but that wont be the case at 100k. if we reach 150 200k in this bull market without companies/ big institutions chipping in then maybe ill do what u say but other than that i have no interest in selling the hardest form of money there is which contributed for 90% of my net worth

 

[meow6308]

@ken999 After what happened with Sam and big players influencing the markets you still trust the coin market?

 

[ken999]

@meow6308 it goes up &down i never know whats the top nor whats the bottom. but what i know is, that its not worth it to sell as it always reaches new highs. never took longer than 3y to reach a new one and i believe that will go on. I might go below 1M again maybe honestly idc im not a speculator im in for the longrun. since im not a total degenerate, and missed to sell anything at all in the last bullmarket, i might do it different this time but as of now i have no intention to sell anything at all

 

[meow6308]

@ken999 I get you, what I mean is, that to me the coinmarket is not as decentralized as it seems and is influenced by the view who have a lot.
It is not influenced by the government but by others, and there are no laws and transparency.

 

[ken999]

@meow6308 who do u think control the stock market? real estate market? bonds? its never the small guy.. most cryptos arent decentralyzed and extremly manipulatee by the hands of a few thats right. bitcoin on the other hand is decentralised and eveb though some own a lot, its the most fair thing we can get

 

[broken1989]

@ken999 Hope you don't mind me asking, do you keep your cryptos on a hardware wallet? If yes, which one would you recommend? I don't really trust those crypto exchange wallets, since you don't have the ID of the blockchain yourself. Thanks!

 

[ken999]

@broken1989 i think we have a decent hardware wallet made in switzerland with the bitbox. me personally even though i should , dont own one yet but once one reaches a significant amount, i think it makes sense to move it offline

 

[broken1989]

@ken999 I see, thank you! I wish you all the best on your journey Currently trying to get to your place, I'm at around 48K net-worth atm at mid 20 years old (including newly bought car for 15K not sure if that counts in your net-worth tough haha)

 

[ken999]

@broken1989 yw, it does even though it will probably depreciate over time so just gotta bear that in mind over the next years. goodluck on your journey

 

[meow6308]

@ken999 Good for you!
Risky but given your age, a good risk to take.

I also speculated with crypto but recently dicided to get out, since I don't have a ledger and don't trust the banks to hold my crypto at this point of development.

It is sad, that someone earning median to lower wage has no other options to get rich.
Happy for you!