Struggling with feeling of missing out

imposterloster

Hi All,

I have some crypto. I bought it a long time ago for practically nothing. Its now in the 6 figures in GBP terms.

I have this feeling that yes it was a good investment but I don't want to be missing out.. what if it goes to 8 figures?! I mean, a few 1000% it a great investment.

The money isn't life changing. It is a nice little pot but won't change my life in the slightest.

Any thoughts how to overcome this feeling or advice?

thanks!

george4064

My thoughts are that you should sell all crypto and buy something that has some underlying fundamental value and has some diversification.

Have a read through other threads in this sub-forum with 'investment' in the thread title, thousands of posts about funds that has underlying fundamental value and globally diversified.

mcooke999

I agree, you have been extremely fortunate to have made that kind of money in this way but the likelihood of it happening again is practically none existent. If I were in your position I would probably sell 95% - 100% of my holding ASAP.

Well done, but think of yourself as a lottery winner because the odds of you making 6 figures so far are probably the similar!

imposterloster

Thank you! No skill required.

I'll look into selling some. I think it does make sense when I rationalise it

mcooke999

Another way to think about it is if you had that same 6 figure sum to invest as cash today, would you choose to invest it into that cyrpto currency? If the answer is NO then you should sell straight away.

Shedman

imposterloster said:

Hi All,

I have some crypto. I bought it a long time ago for practically nothing. Its now in the 6 figures in GBP terms.

I have this feeling that yes it was a good investment but I don't want to be missing out.. what if it goes to 8 figures?! I mean, a few 1000% it a great investment.

The money isn't life changing. It is a nice little pot but won't change my life in the slightest.

Any thoughts how to overcome this feeling or advice?

thanks!

Only you can evaluate whether you would feel worse if it went to zero and you lost it all or whether it went up 10 fold and you missed out.  Its a decision that we have to make about any investment. I think most of us probably feel worse in the former situation, losing what you had, as opposed to not gaining what you didn't have in the first place.
If the money isn't life changing (really?..I would have thought £100k+ was at least slightly life changing for most of us - would buy my better half the round the world cruise she goes on about lol) and if you have strong convictions that it may rise further why not sell 50% and crystalise a pretty decent gain and then run the rest as  your bit of fun money / gamble.      
   

imposterloster

Appreciate the feedback. It is a mental struggle for me!

Yes - unfortunately 100k won't really do much for me. Not that I have any particular purchases in mind. Another house deposit? its hassle being a multiple landlord already. Tesla? maybe? Nothing I wouldn't just dip into my pocket for. Wise choice is to sell 50k and be done with it. Hold the rest for pub conversations?

mcooke999

Good decision, although I would have personally sold more!

Purely out of curiosity, could you tell us how much you initially invested, which crypto it was and roughly it's value now?

atush

imposterloster said:

Hi All,

I have some crypto. I bought it a long time ago for practically nothing. Its now in the 6 figures in GBP terms.

I have this feeling that yes it was a good investment but I don't want to be missing out.. what if it goes to 8 figures?! I mean, a few 1000% it a great investment.

The money isn't life changing. It is a nice little pot but won't change my life in the slightest.

Any thoughts how to overcome this feeling or advice?

thanks!

Overcome this by selling 80 or 90% and keeping the rest.  If it goes way up, great.  If it goes bust, you still made an excellent profit.  

You only make a profit once you sell.

atush

imposterloster said:

Appreciate the feedback. It is a mental struggle for me!

Yes - unfortunately 100k won't really do much for me. Not that I have any particular purchases in mind. Another house deposit? its hassle being a multiple landlord already. Tesla? maybe? Nothing I wouldn't just dip into my pocket for. Wise choice is to sell 50k and be done with it. Hold the rest for pub conversations?

Dont think about spending it.  If you put it in your pension it will grow again immediately due to tax relief.

[Deleted User]

atush said:

imposterloster said:

Appreciate the feedback. It is a mental struggle for me!

Yes - unfortunately 100k won't really do much for me. Not that I have any particular purchases in mind. Another house deposit? its hassle being a multiple landlord already. Tesla? maybe? Nothing I wouldn't just dip into my pocket for. Wise choice is to sell 50k and be done with it. Hold the rest for pub conversations?

Dont think about spending it.  If you put it in your pension it will grow again immediately due to tax relief.

Excuse me, but how can one put 100k into a pension? I thought there is an allowance of 2880, unless you sacrifice your salary via employer pension scheme?