With all the excitement of 20% interest in HBD Savings, it bears spending a little bit of time thinking about retirement. Obviously, 20% is not sustainable for the long term. However, we have an opportunity in the meantime to accumulate some significant savings. Here are some thoughts on retirement with Hive.
Post and Earn
When the day comes that we retire from our jobs, it does not mean that we need to stop posting to Hive. In fact, we should have more time to devote to work on the quality and quantity of our posts. With larger stakes, we could see our earnings increase as we enter our dotage. After a couple of decades of posting and saving, compounding can generate some rather large numbers, which can only grow larger as we potentially live longer.
With that in mind, we can continue to add earned income from our jobs into Hive to speed up our accumulation. We still have plenty of years to contribute to the HIVE compounding machine.
Location Independence
Something else to keep in mind is that as travel bloggers, we could blog from practically anywhere in the world. Travel would not interfere with our ability to generate income. This means that our retirement would not necessarily keep us in one location due to reduced income like many retirees experience. In fact, we could potentially increase our income as a result of sharing our travel experiences.
Arbitrage
There is also the effect of arbitrage. The USA is an expensive place to live relative to other parts of the world. We could, potentially, live well on lower income by living in other countries. This arbitrage of pensions and other income in USD while spending in local currencies would offer great advantage.
Taxes
One problem that American Expats experience is taxation. Earning income abroad is exempted up to a certain amount, which is paid to their host country. Anything in excess is taxed. There is also the issue of reporting foreign bank accounts. Earning in Hive or other cryptos eliminates much of this. Say that I do a quick side hustle in El Salvador where my client pays in BTC. As this has not touched any foreign fiat, is it work abroad? Crypto is readily converted into dollars. The process is the same whether we earn crypto in Texas or Galicia.
Hive as a Business
Unlike other blockchains, Hive presents a unique advantage in that it offers opportunity to generate income by content creation. Whatever earnings come from Hive can be offset with business expenses. If we visit the Philippines to blog about tourist attractions, we could deduct travel expenses. Blogging requires computers, cameras, and other equipment. We could deduct those from taxes too.
Clearly, there are advantages to making Hive a significant part of our retirement plans. With each year that Hive survives, the chances that it will continue to thrive increase. This is called the Lindy effect. It seems like with each passing year, Hive manages to grow stronger and more central to long-term planners.
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