When have you made enough money in crypto? Know your numbers.

Each and every person with an investment in the crypto market is being given a once-in-a-lifetime opportunity. Simply put, this is the best chance for many young and forward-looking people to reforge their financial standing and establish a brighter future for the next generation.

So let's begin by asking ourselves a simple question: What is my number? How much money would it take for me to change my financial future and accomplish my short and long-term goals?

The answer to the question will likely be unique and is largely based on age, personality, family situation, and desired lifestyle. No number is too big or too small, so long as they are based on an honest assessment.

Here's a simple google spreadsheet that I used to calculate my own numbers.

Step #1: What is my long-term debt number?

First of all, I want to pay off my debts.

1. What is my housing debt number?
2. What is my personal debt number? (These include credit cards, personal loans, auto loans, student loans, outstanding bills or collections, etc.)

Step #2: What is my one-time purchase number?

I would like to make a few purchases to fulfill some lifelong dreams.

1. What is my new home number?
2. What is my luxury goods number? (Fancy items like jewelry, travel, or cars.)

Step #3: What is my long-term investment number?

I would like to put some of my money to "work" for me. This will provide a stream of income or serve as a somewhat safe store of value.

1. What is my real estate number? (Rental properties or business.)
2. What is my investment number? (Stocks, cryptos, bonds, etc)

Step #4: What is my lifestyle number?

Perhaps I want to support a certain lifestyle in guaranteed money. This category should be adjusted for inflation and calculated based on life expectancy. Essentially this gives me the amount of cash needed in a savings account to support my desired lifestyle for the rest of my life (with a 0% rate of return).

1. What is my guaranteed annual income number?

Step #5: What is my future number?

Depending on my current situation, I may anticipate that I'll have some large expenses in the future.

1. What is my retirement number?
2. What is my education number? (In case you wish to go to college or put money away for children.)
3. What is my anticipated medical expense number?

Step #6: What is my giving number?

 I want to spread the wealth to my loved ones!

1. What is my charity number?
2. What is my family gift number?

Step #7: What is my tax number?

Governments are gonna take a cut, so I'm gonna make sure to account for that.

1. What is my tax percentage number?

Conclusion

I can now sum up each of the numbers to make an educated ballpark guess of the amount of money it would take to achieve my "FREEDOM NUMBER".

Cheers and may you all achieve your financial freedom!

Ethereum address: 0x44A25E5d0363c86F456EBcDe5f79Fb7762bceFCb