Struggling with feeling of missing out

[Deleted User]

Sell your bitcoins and buy a single work of art by a living artist; something that appeals to you viscerally. 

aroominyork

imposterloster said:

aroominyork said:

I suggest you get yourself a huge damn reality check. Seriously, you have made a six figure sum which is not enough to make a material difference to your life, and you are concerned you will not make the millions that would help you join the super rich. 

I suggest you cash in this money which you came upon by fortune, give it to a charity, and then work out what exactly you do want your investments to do for you. 

I think this is a little unfair. If someone had a net worth of /10 compared to mine, wouldn't they pose a similar question? (i.e. 10k vs 100k) - it is relative after all.

I assumed the super rich are at the 100m+ levels and I am certainly way way way off that.

This tax year I am working abroad so I won't have any capital gains on these if I were to sell this year which makes it worth thinking about.

I think most people on a tenth your income/wealth and a tenth the number of bitcoins would i) title their post "Made a huge amount on bitcoin - what should I do with them?" ii) not complain that it's not life changing money iii) would then, like you, all for thoughts/advice on what to do with them. You scored one out of three on my marking system. 

imposterloster

aroominyork said:

imposterloster said:

aroominyork said:

I suggest you get yourself a huge damn reality check. Seriously, you have made a six figure sum which is not enough to make a material difference to your life, and you are concerned you will not make the millions that would help you join the super rich. 

I suggest you cash in this money which you came upon by fortune, give it to a charity, and then work out what exactly you do want your investments to do for you. 

I think this is a little unfair. If someone had a net worth of /10 compared to mine, wouldn't they pose a similar question? (i.e. 10k vs 100k) - it is relative after all.

I assumed the super rich are at the 100m+ levels and I am certainly way way way off that.

This tax year I am working abroad so I won't have any capital gains on these if I were to sell this year which makes it worth thinking about.

imposterloster said:

aroominyork said:

I suggest you get yourself a huge damn reality check. Seriously, you have made a six figure sum which is not enough to make a material difference to your life, and you are concerned you will not make the millions that would help you join the super rich. 

I suggest you cash in this money which you came upon by fortune, give it to a charity, and then work out what exactly you do want your investments to do for you. 

I think this is a little unfair. If someone had a net worth of /10 compared to mine, wouldn't they pose a similar question? (i.e. 10k vs 100k) - it is relative after all.

I assumed the super rich are at the 100m+ levels and I am certainly way way way off that.

This tax year I am working abroad so I won't have any capital gains on these if I were to sell this year which makes it worth thinking about.

I think most people on a tenth your income/wealth and a tenth the number of bitcoins would i) title their post "Made a huge amount on bitcoin - what should I do with them?" ii) not complain that it's not life changing money iii) would then, like you, all for thoughts/advice on what to do with them. You scored one out of three on my marking system. 

Slapped wrist for me.. 'must try harder' I remember well from my school reports.

However the art option suggested in the post above is great!

aroominyork

I'm sure you'll do well next term.

mcooke999

aroominyork said:

I'm sure you'll do well next term.

Now now children. The OP has clearly done something right in life to get to where he is now!

The fact is money is relative isn't it, a few hundred grand to some might change their life forever but for others it might not even be 1 years salary or might not even cover 25% of their mortgage (Eg: in London)... If you're earning £300k+ / yr then £200k is only 2/3rds your salary. If this guy has a mortgage of £5-600k in london then all £200k is going to do is reduce his mortgage payments by 1/3? I wouldn't call that life chaning.

Obviously for the vast majority of people (myself included) £200k would definately make a real positive difference but we'd still need to carry on working, pay the bills, save for retirement etc. but I don't think it would be life changing for most of us, I don't think anything would change at all except for a few hundred quid a month better off for not having a mortgage.

imposterloster

mcooke999 said:

aroominyork said:

I'm sure you'll do well next term.

Now now children. The OP has clearly done something right in life to get to where he is now!

The fact is money is relative isn't it, a few hundred grand to some might change their life forever but for others it might not even be 1 years salary or might not even cover 25% of their mortgage (Eg: in London)... If you're earning £300k+ / yr then £200k is only 2/3rds your salary. If this guy has a mortgage of £5-600k in london then all £200k is going to do is reduce his mortgage payments by 1/3? I wouldn't call that life chaning.

Obviously for the vast majority of people (myself included) £200k would definately make a real positive difference but we'd still need to carry on working, pay the bills, save for retirement etc. but I don't think it would be life changing for most of us, I don't think anything would change at all except for a few hundred quid a month better off for not having a mortgage.

Luckily i'm mortgage free on a couple of london properties but not one in europe. Those rates are ridiculously low and fixed.

Thank you for sharing my relativity opinion!

As for doing things right - if I ever had kids I would tell them to do something meaningful and avoid finance. Some people love the big money, stress and self importance. I'd like to be a joiner living in the countryside.

Zanderman

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!

You work in finance, but only "have this feeling that yes it was a good investment"??
You say a 6 figure sum is not life-changing.
You are "mortgage free on a couple of london properties but not one in europe."
You therefore seem to have more money than most here could ever dream of already.  
And you're coming to MSE for advice on FOMO??? 
Not sure whether to take you seriously or just assume you're trolling!

imposterloster

Zanderman said:

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!

You work in finance, but only "have this feeling that yes it was a good investment"??
You say a 6 figure sum is not life-changing.
You are "mortgage free on a couple of london properties but not one in europe."
You therefore seem to have more money than most here could ever dream of already.  
And you're coming to MSE for advice on FOMO??? 
Not sure whether to take you seriously or just assume you're trolling!

End of my day in asia. But property is a very different investment from an asset which exploded in value in an unregulated market. I am not technical and have no opinion on which direction crypto may go. I often read these forums for the mortgage questions and just life advice really. Some advice has been helpful. I honestly thought i'd get a warmer welcome as I didn't think it was a dumb question. Clearly I was mistaken.

As for property yes. I bought 2 houses very close to one another in an area I saw as up and coming at the very peak of the market 10 years ago, they came good eventually.

Thanks for the advice everyone. Over and out.

Sorcerer2018

I remember when it hit $20,000 my friend was sitting on a profit of over £25,000 I advised that he sell it straight away, as Bitcoin was in a bubble, he didn't listen and he sold out eventually making £0 profit. Greed go to him too.

atush

you can put it in over a number of years, up to your max income or 40K.  And if you have income over 40K you can use the past 3 years unused allowances