Finance blogger The FI Explorer didnt invest in cryptocurrency in order to retire early but unlike many of the newly minted crypto rich, he did set out to retire early.
The FI Explorer, also known as Jason, is part of the FIRE community financial independence, retire early where adherents save up to 80% of their income throughout their 20s and 30s in order to either retire early or simply follow their passions.
For most of his 20-year journey toward his FIRE target of $1.64 million (USD) which was chosen to produce $65,000 in annual income for the rest of his life Jason directed his savings toward sensible investments, like exchange-traded funds, shares and gold. But after listening to a Bitcoin-focused podcast in 2015, he decided to chance it and put around $3,000 or 0.5% of his portfolio at the time into the cryptocurrency. Bitcoins astonishing growth since has seen the allocation expand to account for almost a third of his portfolio at its peak and helped him sail past his FIRE target in December 2020, much earlier than expected.
What is FIRE?
FIRE and crypto dont mix
Getting rich quickly
Selling up is hard to do
Captain FI
Retirement plans
Dont do it, but if you do …
Continue Reading on Coin Telegraph
