STEEMIT BLOCKCHAIN | Can it be your retirement plan ?
I guess here is a question on a lot of people's head
Can I rely on The Steem Blockchain to be my retirement plan ? I've been thinking about it for awhile now and this is my opinion on this matter.
Some Facts ?
STEEM as a tradable crypto asset on several popular exchange now sits at top 50 traded crypto. Even though there is really high volatility in all crypto trades, we can see a certain form of mild stability once the floodgates opens up with more and more acceptance of cryptocurrencies & blockchain usage globally
Having said that, we have seen an increase of the price of STEEM over the past 2 years and with the updates coming up for the Steem Blockchain , there is hope that the price will increase even further.
So can STEEM be use as a retirement scheme ?
YES ! However I do NOT suggest that you take out your entire life savings and dump it into STEEM as anything could happen in the next 20-30 years .
YES ! If your Steem Power is purely from your content writing and "participating" in the activities on the STEEM blockchain. Ever heard of 20% effort and 80% results ? If all your SP derives from your efforts done here, meant that you are active and even if the price of steem fluctuates, you would not be in a hurry to sell as you don't actually loose anything , only your time spent on writing blogs
YES ! If you have spare money which you won't be using for the next couple of years and don't really mind loosing it. I've done this for a few of my friends and at the time of this article they have increased their steem power at an average of close to 10% per month by leasing their SP. They have the intention to start blogging on a later date however they just want to be an "investor"
Your Steem Power will gradually grow and taking into account that the price of STEEM will grow and also the community will even grow larger. Now by the time you reach closer to your retirement age , you would surely be either a orca / whale where your own upvotes would be of significant value.
Not only that, by being an active participant within communities, communal upvotes itself would be of significant amount to sustain your daily needs. Now this is based on the fact that if you reside in a country where cost of living is "affordable". I would be able to comment much on other countries apart from countries within South East Asia where earnings in USD gives significant options as to what we can buy or what we can eat.
Summary
I do believe that if you "invest" your time in the STEEM blockchain, you would be able to live off it as some people here in Malaysia are already doing it. Having it as part your retirement plan income is indeed a recommended choice as it is always good to have multiple sources of income especially when you are no longer under any employment.
Steem will be one of several sources of income for me. Best to be deversified with income and retirement plans. You never know what will happen years from now.
Exactly .. But the future does look exciting
I can always count on you to keep me going!!
And you are right, somehow investing time is not as daunting as investing cash... but I confess I have thought about it many a time... maybe I will hit my tipping point 😊
Oh you surely will !! Btw .. I wanna do a meetup session with you as the speaker soon . Will DM you soon hope you can help 😁😁
Oh, of course can 😊
Yep, it is always about diversified income. I'm already starting to diverse my crypto income while Steem is still being the biggest portion.
So true .. There are many projects out there which is worth taking a look at and perhaps invest for the long run
Great, I agree with your opinion 100%, I live in Mexico and the use of Steemit is still not very popular, but I see countries like Venezuela that is a great help for your economy, I am still in this very long term, story With 36 years from now I can consider myself retired, I think I can do something big on my account.
I have already spent about 4 years diversifying my assets in several cryptocurrencies as well as participating in the mining, I hope things will grow in the next 10 years and as you mention having a retirement plan that gives me peace of mind.
Greetings from Mexico.
It would surely grow .. Just need to hodl 😁😁
Living off steem as a full time income source is risky but investing in steem as a retirement plan is worth it
That is true but really depends on where you live and how mucb you really need on a monthly basis. Some ppl i know have been living off steem since its was a mere $1.2 so now with it much higher, its like a big bonus .
The risk is there for sure ..
Yes, we are living in an uncertain world so multiple sources are really advisable, and Steem is an unique social networking economy as an whole and as time passes and more adoption of Crypto will increase, then just imagine, as an first full fledged decentralised Social Networking platform what opportunities we will going to have. Thanks for sharing your thoughts and wishing you an great day. Stay blessed. 🙂
Exactly .. And steem makes it easy enough for adoption of the masses . Im almost sure that it can only get better .
Yes for sure. 🙂
Hey @bitrocker2020 congratulation for the new PM, hopefuly malaysia will be better after this?
Economic stability should take a bit if time however the people are satisfied !
Thanks for the reassurance and confidence boost :)
@branlee87 just as long as we keep focusing on impacting other's to succeed this community and steem will continue to strive
doing good job keep it up
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