The Bitcoin Retirement Plan in Action

Recently retired early after 33 years mining fiat, the Bitcoin Retirement Plan gives me peace of mind, hope and options

After a 33-year career, my fiat mining days came to an end as I retired early. All I can say is Thank God for Bitcoin. Having been focused for the last few years on the Bitcoin Retirement Plan, I have many options including retiring or continuing to work. But now if I choose to work, it’s not about the money, it’s more about having fun and being engaged in a new project with great people. Without Bitcoin, I simply wouldn’t have these options. Here’s my most recent post on the Bitcoin Retirement Plan if you’re interested:

The only thing is that after I stack 10% of my last paycheck and roll my 401k into a Bitcoin IRA (self-custody, of course), my stacking goals will be on hold while I figure out what to do next. Once a stacker, always a stacker. What’s nice is that I have time now and the opportunity to do many different things. This includes spending more time with my family and getting more involved in the Bitcoin community as an advocate for adoption and a teacher, while considering how and to what extent I can be productive in other ways. This is truly a blessing.

Retiring early got me to thinking about fiat job loss in general. Something like this would have been unthinkable before Bitcoin, and certainly if my kids weren’t older and almost done with school, so timing does matter. Losing a fiat paycheck at any stage of your career can limit your options. You may need to go where the work is and also seek a lower cost of living area, potentially resulting in uprooting your family in the process. If you lose your fiat job early in your career, you have to find another fiat job (possibly for lower pay or may need to work multiple jobs), keep grinding, cut expenses and try to survive. This is hard to do for most people with a mortgage, car payments, student loans and other kinds of debt. If you have young kids, there’s even more expenses to think about, up to and including college. And yet this is what a lot of people face all the time and why it’s important to be resilient, as I wrote about here:

When one door closes, another one opens. Or is it this:

The bottom line is that Bitcoin is hope and Bitcoin gives you options. All you have to do is patiently stack sats into cold storage on a regular basis. Of course, you also need to be prepared to lose your fiat job and that means having some fiat saved to live on so you don’t have to spend your sats (I try to follow the six months living expense rule). I also got some portable life insurance many years ago to protect my family, since you lose the work plan if you get laid off. Medical insurance is the other big one, but thankfully there are cheaper options available these days than COBRA, including better Bitcoin-focused options like CrowdHealth.

But the best thing to have is Bitcoin “fuck you” money.

The only thing I would change in the clip above is instead of “put the rest in the bank” is “put the rest in Bitcoin.” A good car and a good house all paid off and you are set.

Not financial or legal advice, for entertainment only, do your own homework.  I hope you find this post useful as you chart your personal financial course and Build a Bitcoin Fortress in 2024.    

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