Let go in March. Now earning 2x more than I’ve ever earned in my life
2988
post-template-default,single,single-post,postid-2988,single-format-standard,bridge-core-2.3.7,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,qode-content-sidebar-responsive,qode-theme-ver-22.3,qode-theme-bridge,disabled_footer_bottom,qode_header_in_grid,wpb-js-composer js-comp-ver-6.2.0,vc_responsive,elementor-default,elementor-kit-199

Let go in March. Now earning 2x more than I’ve ever earned in my life

Let go in March. Now earning 2x more than I’ve ever earned in my life

I was doing really well in the US. I was bringing in $135K per year with a steady job of 18 years where I was highly regarded, and they let me work from home where I lived on 2 acres on the side of a mountain in Northern Arizona. After a divorce I decided, to hell with it. Sold everything, paid off all my substantial debt (how did I get in so much debt?), moved to the Philippines. Worked for the same company, but part time as a consultant making about $50K. With expenses so low, I actually kept more of my income in PH than I did in the US.

Then COVID hit and, as a consultant, I’m just an expense, so they let me go. I still had some income because I owned 2 duplexes in Arizona. But then they both needed major renovations, so I was severely underwater. Only thing I could do was sell the duplexes. I invested in various businesses here, but the income wasn’t enough to meet expenses. I did some calculations and realized the only way to survive until I hit social security age in 7 years, was to stick my remaining funds in a bank, reduce my expenses, and siphon off monthly.

Another expat here owed me some money. Only $35, but he asked if he could pay me in Bitcoin. Sure, sounds like fun. I set up a wallet, he transferred the money, and some links to bitcoin videos. Well, no job, so I might as well watch the links. I nervously bought my first satoshis at the end of October, 2020 with $2000, and spent the whole day gobbling up information on bitcoin. The next day, I bought another $2000, again listening to videos. The next day, $5000. Until I just totally agreed with Michael Saylor that holding dollars is riskier than holding bitcoin, and I transferred nearly all of my funds into bitcoin.

I tried trading on the dips, but found out quickly that holding nets me more in the end. I’ve since expanded into Celsius as I’ll need to borrow against my bitcoin for living expenses. With Celsius, I can use my bitcoin as collateral and get 1% loans without selling my bitcoin. As long as bitcoin does better than 1% per year, I’m ahead that way. I keep very close track of my returns. In the US, I was making $135K per year and paying $101K out to debt, taxes and expenses. Since October 20, I’ve made $738 per day on average from the rise in Bitcoin and Celsius, or $269,700 annualized, and my debt(0), taxes(0) and expenses are $26,600 per year. What a ride this is!

submitted by /u/ChasTheGreat
[link] [comments]

No Comments

Post A Comment