Can one retire with HBD?
I read a blog, which I supposed was from a veteran in the hive community, stating that the dream is to "live by hive and retire with HBD". So it made me ponder if this statement is possible. Can one truly rely on Hive and HBD financially?
To me, this community is my platform to explore creativity while getting some rewards from what I out out here. This is my safe spot where I can about anything and everything under the sun. But I still get income from other sources and not rely purely on my hive rewards.
As a relatively small account, my stand in the above question is that yes, it's possible only if you have a million HBD, then you can live by the interest.
Take for example in the Philippines, the average wage earned for a normal job is about 20,000 php to 30,000 ph. Let's use the median of 25,000 php for this demonstration. When converted to dollars (1 USD = 57 Php), it's 438.5965 USD or 439 USD.
439 USD- that's the amount of monthly interest needed to fully retire from working.
Currently, HBD is giving 15% APR. So if we do the math,
439 USD * 12 months= 5,268 USD the interest for the whole year
5,268÷ 0.15= 35,120 HBD the total hbd capital needed
Price and forex rate fluctuation
Two factors that is also needed to be considered is the price fluctuations and foreign exchange rate. Although when price of HBD goes down, the number of HBD you earned is not affected, it affect when one sells the HBD for cash. Plus, if you're local currency is other than USD, forex rate fluctuation also adds to the variability.
Conclusion
No, it's nearly impossible for one to retire with just HBD. It could be, but definitely not for the fainted hearts. However, I believe that HBD savings could really give financial aid to the community.
That's it for today's blog. See you in my next one!
Sending some love and light
With love, Jane
It's also important to take into consideration the fact that HBD interest % can change anytime depending on how the TOP 20 witnesses decide.
The interest used to be 20% for the longest time, only quite recently it dropped down to 15%.
I agree. Or maybe 30 to 40 years from now, HBD won't give any interest anymore 😭
Think many dream of doing it but its basically just @lazy-panda that might live that dream :)
Haha. Trueee. @lazy-panda how to be you? 😅😂
There is a way, given about 12-20 years to do it, and if HBD interest stays at 12-15 percent
Presuming the crypto cycle holds up, the market will run up every leap year and the year following (like 2024 and 2025). Do well in those years and lock in profits in HBD. 20 years would give one five complete cycles of this.
Focus on Bitcoin and Ethereum, because already you will be on Hive -- those two will almost always do well, with XRP and ADA positioned well in this cycle too
On Hive, work out a schedule for yourself to create quality content and engage HEAVILY with other content creators. Every other day, three times a week, twice a week -- every day if time in life permits it. Those HBD rewards, over time, add up.
Your HBD can fund other things that will help pay for your retirement, so you can do this indirectly, too. This beautiful book on the crypto cycle had its cover and edits paid for with HBD!
https://store.hivelist.io/product/seizing-the-crypto-bull-run-for-financial-freedom-e-book/
I agree with #3. I'm just really having fun putting my content out here and sharing my thoughts. On #4, occasionally, I take profit, though not of a significant amount,from my rewards and put it in a time deposit.