There's not enough words in my slightly modest English vocabulary to describe how disgusted I am towards the current world wide spread political and financial system. We used to have quite different policies a few years/decades ago, but now it seems that we're all living under one same dictator no matter what country we would be in.
I have already praised Leofinance enough for today, but I have to give it credit one more time. @taskmaster4450 had a brilliant post today on the subject of HBD and putting it into savings and how this would compound over years and potentially turning into a nice pension fund.
"We put in $100 today, let it earn 20% per year, compounding it each month, and we will have $5,282 after 20 years."
"This took the same conditions as above yet added in $10 per month. As we can see the value at the end of 20 years is over $36K. Anyone who is 40 or under should take this to heart. I can assure you, this will beat most retirement accounts."
This last excerpt that I shared with you from Taskmaster's post, that I linked above, has got me thinking. I'm 35 years old, I don't have much working experience and my pension fund is almost inexistent. Being a crypto dude you can figure it out by yourself that I don't plan on getting back to the legacy system any time soon.
I'm often told by friends and family that I should do something about my retirement, although that is some three decades away, and frankly I'm not that worried about it yet. I'm very cautious when it comes to personal finance, thus after reading @taskmaster4450 post I've decided it's time to start moving some HBD into savings.
It's the first time I'm doing that and since we now have a 20% APR for staking HBD it sure feels like a great deal. I haven't moved mountains with such a decision, but I'm betting on the compounding effect that could, after a few decades of constantly adding and staking HBD, turn into a nice pension fund.
I've added today my first $30 to my "HBD savings account" and am planning on doing that every damn week. I might even increase the amount to $50, depending on the rewards I get. We all want to get rich over night and crypto has had the potential to make that happen for a while, but now it's probably time we should change tactics.
The example of Warren Buffet that Taskmaster gave in his post is so damn relevant. Fortunes are most of the time being built over decades rather than a month or two, or even worse a summer night and "compounding" is essential for a sustained growth. 20% APR on HBD savings sure feels juicy and it's got me hooked.
Thanks for the inspiration, Taskmaster. Will send you a beer once I'm retired thanks to HBD ;). Have a great one, folks, and see you to the next post.
Thanks for attention,
Adrian