dont quit your job too soon - the first rule most people should understand before living from ADA
I think in most europe and us cities except capitals, can live quite good with few thousands dollars or euros after taxes per months, because I think many people making that money from they jobs
so to make few thousands per month from staking when return is 7% yearly return you need to have about 150K ada and ada price should be 2usd (sure it depends from country taxes)
so I think for most of us to live from ada staking need 1-2 usd ADA price
ADA price looks like very sensitive to ada events and it possible 30-50cents in few weeks in august
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@TadCryp thanks for your thoughts, if I may chip in, my personal recommendation is to make sure from a portfolio stand point is to make sure, if your still working in the traditional sense, that, before quitting your job, is to have, at least, >= 2 & 1/2 times in investments than that of your wage coming in regularly, this is not financial advice, just my personal thoughts and views, and consult any professional before making any decision thx🖖
I dont know why 2.5 times from investment. I would reinvest that money. Because for daily cost I need just what I.earn today. Sure for travels, expensive stuff need to sell some ada, but for house as example I even thinking to get a loan backed by btc - I saw there are lending platform, rather than selling big amount of crypto, because fat losing value, crypto dont
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I would urge folk to reinvest to compound, 2.5x would be a guide to living expense so that you have a fall back position if anything were to go wrong, 3.5x for the inclusion of reinvestment.
However it depends on a personal basis.
As far as loans are concerned, if someone is to use it as to cover living expenses then I would consider this as bad debt, on the opposite if it’s used for an investment it would be considered as good debt, which is always preferable. Again my opinion, thoughts and its always recommended to seek out professional advice thx