I work about 55 hours a week on average and invest about 10% of my income (after taxes ) into crypto. I have a good education and a pretty decent job ; no complaints with that aspect. However even with some overtime and some side gigs I highly doubt buying a house is in the cards anytime in the near future , I have a large chunk of student loans and live in a high rent city, I don’t drink and I’m not flashy so I generally save most money after the major expenses ie: rent , food, utilities, cell, car payment, insurance , gas, student loan payments. So I’m not really sure where a large down payment would come from.
Now some of you may say that I could put that 10% income into savings and slowly build up, which is true but it would take me a very long time , and with interest being about .5-1 % and inflation generally 2% but recently more like 4-5% , that money is not being utilized and is slowly losing its buying power.
I think crypto taking off and making me even a modest ( in crypto terms ) 5x my money would afford me to put a down payment on a house and cut my wait time by about 10 years . (5 years instead of 15)
I hope others get to accomplish their dreams because of this as well, it’s a hard generation to grow in it seems but this could be our stepping stone.
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