Firstly I was trying to decide where to post this: Random or Trading? But someone mentioned this would be good for people just getting into Crypto and starting to buy ADA, so the beginners’ category it is.
While on Telegram, in the Cardano UK Channel (Had to get that in there), the common question was asked;
“ Is 300k ADA enough to stake and retire?”
Now granted, we all buy into Cryptocurrency speculating that one day it will give a good return on the investment made. Some, including myself got into Crypto with zero knowledge or understanding, buying small amounts of various currencies, with no idea what each one stood for. All in the hope that just maybe the next ‘Alt Season’ (like the Bitcoin Boom) will, if not make me rich, at least give a good return, always saying to myself ‘High Risk, High Return’.
Eventually I began to research the companies and projects behind the Currencies I was holding and found myself quickly reducing my portfolio, until I came across one: Cardano (ADA)
I am not writing this to explain what caught my eye and why I am now an ambassador for the Cardano Foundation, however evidently I kept and ultimately increased my ADA holdings.
BUT, How much should we hold, what amount is enough to stake and retire?
It’s important to remember that buying ADA in the belief that Cardano is guaranteed to make you rich is in my opinion a huge mistake. Nothing is guaranteed, there are so many variables which will determine how Cardano and ultimately ADA will do.
300k ADA could be worth £300k, £500k, £1m, but at the other end 300k ADA could be worth £10k, £5k, £4k, £1k.
The saying ‘Don’t spend more than you can afford to lose’ - most take it as only spend pocket money or disposable income that you can live without on an asset. We all know it is not that simple and we do buy more than just with disposable income. But there is a limit, at what point do we break that limit?
If your investment went to £0, could you still live in the same position you are now? Not everyone, but the majority of people in Crypto will have a job, pay bills, a mortgage and even possibly support a family.
Keeping the amount spent on Cryptocurrency to ourselves isn’t always an issue, but does the amount invested / speculated keep you up at night, are you taking money which was meant for bills, food or planned holidays / leisure time. (Remember we work to live, we don’t live to work – You are buying ADA to improve your life financially, so why risk more money than you can afford, giving you a worse life financially?).
So the question, can someone retire on 300k ADA? I think at this stage the first question should be, Can I continue living without my 300k ADA, if I lost it all?
The reason I believe this question needs to be answered first is because if someone said
“No, 300k ADA isn’t enough to retire on. You need at least 500k ADA if not closer to a million or more”
Where does it stop? Why are they right, do they know the future of ADA and your individual circumstance etc.
The fact is they don’t, but would you continue buying more and more anyway, finding yourself taking money that was meant for something else?
Are you going to believe someone you don’t know over your own thoughts and feelings from your own research, have you done any research ?
It’s easy to get carried away or addicted when buying Crypto Currency, or any asset. You will see people talking about the potential value of ADA, but no one really knows. Please do your own research into the project, don’t just blindly listen to other community members or ‘youtube’.
If you want to support the Cardano Blockchain, feel there is a potential of a return then please buy ADA, I obviously want you to as the larger the adoption the better for everyone.
Be comfortable with your holdings and remember: IF you buy ADA now ($0.045) and it reached $1 or more, then the amount you invested will have never been enough.
But, IF Cardano doesn’t succeed in the world, for whatever reason and ADA was worthless or maintained a lower value; you will have always spent too much.
Is 300k ADA enough to stake and retire? 1ADA is enough to stake, only time will tell if 300k ADA is enough to retire on.
I’m dreaming with you…I don’t have such an amount of ADA, but when you see the forecasts/predictions some brokers have, i hope the price will rice to above € 5 within 5 years. No, I cannot retire on that moment, but will have a little bit more space in the things i can do.
