What is your end game…..
Afternoon everyone ….
We talk about a lot of things on this platform of #hive. Crypto obviously takes the main focus, some talk finance, and others precious metals.
We all stack something or more than one thing. While I’m by no means a zombie apocalypse guy. I do make sure that I have provisions on hand at all times to make it through a possible disruption of short to medium length.
I stack silver and a little gold, I stack crypto as well, but I also have food provisions, handguns and plenty of ammo.
But that’s not really what I’m talking about.
What is your end game plan…
Whether you are a crypto stacker or a precious metals stacker, do you have an end game plan. Again I’m not talking about a world collapse scenario.
*Basically why are you stacking what you are stacking?
Is it to become wealthy enough to retire? Is it a type of savings for when you retire? Are you just saving it to pass on to someone after you pass away like your child or children.
*There are also other factors that need to be addressed.
How old you currently are.
How long have you been stacking.
How hard you have been stacking.
What number are you looking for as an end game result.
If you hit that number, how do you go about executing the liquidation.
I’ll use me as an example since that’s the easiest for me. I’m in my early 50’s, which to me is not close to retirement. Since I live in the United States, I would currently need to wait until the age of 65 for healthcare benefits from the government. That’s is currently up for discussion in Washington. They are looking to change that to 70 years old.
I don’t have a mortgage, nor do I have credit card balances. I do have a truck payment, but that is a business write off.
I would consider myself in those two areas in the top five percent of Americans. I am self employed and my business is a trade so there should always be work for the most part.
The one downfall is that my paychecks are very inconsistent, which means planning buys of any sort is terribly difficult.
While I am hoping at some point to be able to play the silver to gold ratio. If that doesn’t happen no big deal.
I have a self funded 401K and Roth IRA that I’ve been contributing to for decades now.
So my end goal would be to retire at 65 if that is still an option for healthcare. If not I might have to find healthcare myself with my 401K or Roth IRA for several years.
I will live within my means using my money from my 401K and Roth IRA. If that lasts me, then all of my stacking would be left to my daughter.
If I want to splurge on a vacation after retiring, I might sell something off to pay for it, but I don’t plan on it.
I have documented everything with full instructions on where everything is and what to do with it. My will and paperwork are safe.
So, what is your end game?
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