When Steemit Makes me a Millionaire do I Have a Plan?
This may sound like a silly question, by after reading a few posts today that got me thinking. Do I spread out that wealth over different coins that I believe in, do I gamble a percentage on shitcoins like Dogecoin, or do I pull some out for more traditional Investments?
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I keep seeing Trump saying the stock market is hitting all time highs. I considered opening a Vanguard or Stash account today, but then thought to myself why would I buy in at all time highs? Maybe I should put some bitcoin or litecoin away for when the market crashes or correct I can buy in cheap. It's not crypto type returns, but it's lower risk with more consistent returns. I might start accumulating litecoin on the lows so that if when we have another market crash this will be my investment fund. Around 20% of my first million.
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With SBD price over $1 it just seems like a great time to be accumulating Bitcoin. For lack of better options bitcoin is the best coin to accumulate if you're looking into purchasing alts. Seeing as how most alts are currently already at all time highs bitcoin is worth collecting for the next correction. Around 60% of my first million.
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The last 20% would be use to gamble on junk coins, put some money towards debts, and max put tax free plans such as 401k's and hsa's. After I gain 20 pounds trying to day trade I'll probably give up day trading and going back to writing steemit articles and rejoin all the communities I love here. Obviously this is going to be a process and when I hai my first million I'm obviously not powering everything down and quitting just taking some profits and diversifying my Steemit profits.
What's your plan for your first Steemit million?
Keep it simple and stay informed.
Steem is the place to be.
BTC is the place to keep your eyes on.
Keep on steemit.
How do you stay informed?
Haha cool way to dream!
My first steemit million would involve a large portion (50%) reinvested into steem power to continue growing and also to be a benefactor in the community with delegations, comments, initiatives, etc. the other half I would invest in some real estate in key countries that I enjoy. I’d build a small but high quality media production studio for music and video. I’d cancel all debts and continue traveling the world! And I would give at least 10-20% to charitable projects and individuals who could use help making their dreams happen.
Thanks for the awesome comment!
Any particular charities you'd be looking at?
I think a big initiative would be finding ways to put crypto into the hands of people without much money. Such as Steem. I feel that if more people with crypto holdings start to donate small amounts to less fortunate, they can learn about this new ecosystem and grow the popularity as a payment method. Even cooler is how w steem we can delegate sp and still grow other ppls wallets.
i did my calculation here:
https://steemit.com/funny/@cosmosaur/my-future-plan-for-steemit
i have looooong way to go
Well you got 74 cents on your article and at least 5 cents on this comment so you're a lot closer than a few minutes ago!
haha thank you. now i am at least 150 years ahead
I think I'd just be happy with being more financially stable. Pay off debt and such.
Yeah, but what debt first and why? Should you be paying off debt first or using the extra money to max out 401ks and such?
Where are you going to focus first and why? That's the whole point of this article. To get you thinking and not just make general statements like
Today is your lucky day.
Lol I just sold all my Dogecoin. No improvements have been made in 2 years and interest was regrowing 6 months ago when alts were mooning as well.
I think it's a dead coin that is sometimes used to protect gains since it's "less volatile" due to it's overall number of coins. My losses from this Summer is really pushing me to reduce reduce reduce! lol.
I'm guessing that will be the last coin of the Day for John "I'll Eat My Dick" McAfee.
Good question. Reinvest in the projects I truly believe in and Steemit would be one of them. Thanks!
What other projects do you belive in?
my Steemit million is about 2000 sbd (or less if sbd price up). I can take an apartment on credit
Rent an room in an apartment or you thinking of buying an entire apartment building?
I dream buy an entire apartment
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