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Pauldb1806

Cashing Out

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Posted (edited)

I created an Excel sheet to help me visualize and plan my cash out levels. You're more than welcome to use it, abuse it, and manipulate it. It's filled with demo data.

I'm turning 50 the beginning of June. I plan on selling about 7% at $5 to recoup my initial investment. Then about 12% of the remaining amount at $10 to pay off my mortgage, all remaining debt, and some upgrades to the home. Then about 98% of the remaining at $40, possibly purchasing an annuity with half of it and long term stable investments with the other half. The annuity will guarantee a modest annual income for the rest of my life, and if I die, the rest of my wife's life as well, and when she dies, 10 years into her beneficiary's life. In other words, retirement if I so choose.

My plan is not rock-solid-never-gonna-change. My final, largest, cash out is malleable with how and where I feel  XRP is heading at the time.

My projection "guess" is that the 98% cash out will be by the year 2025 for sure, and maybe 2022 or so. If it's not even close by those dates I'll re-evaluate my goals.

In the Excel sheet you should NOT manipulate the columns "Total $ Value Orig Holdings" "Total Sell Value" or the final 4 columns starting with "COIN Remaining"

http://www.meyeuniverse.com/Crypto_Exit_Strategy.xlsx

D56IeL0V4AAkdV6.jpg:large

Edited by MrVH

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@mariusthegreat what are you basing 7 years on?

In Dec 2017 the price of XRP moved from .22 to $3.30 in the span of 3 weeks, and it started the year at .005.  This isn't really a gradual mover.  Also, to succeed as a bridge currency the price of XRP will have to increase dramatically to create the necessary liquidity.  If that doesn't happen soon it will probably just fail as something else will move into the space.  I'd think movements are going to have to be dramatic and within a year or two at the latest if XRP is too succeed at all.

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Posted (edited)

I should have also mentioned, I have already set up the KYC requirements and have communicated with a couple of exchanges/companies that will allow me to process an OTC trade to cash out.

We're not even close yet, but it's never too early to have your ducks in a row!

Edited by MrVH

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1 hour ago, MrVH said:

I should have also mentioned, I have already set up the KYC requirements and have communicated with a couple of exchanges/companies that will allow me to process an OTC trade to cash out.

We're not even close yet, but it's never too early to have your ducks in a row!

Any good recommendations on OTC cash out? Also what info did they ask you for? 

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1 hour ago, MrVH said:

I created an Excel sheet to help me visualize and plan my cash out levels. You're more than welcome to use it, abuse it, and manipulate it. It's filled with demo data.

I'm turning 50 the beginning of June. I plan on selling about 7% at $5 to recoup my initial investment. Then about 12% of the remaining amount at $10 to pay off my mortgage, all remaining debt, and some upgrades to the home. Then about 98% of the remaining at $40, possibly purchasing an annuity with half of it and long term stable investments with the other half. The annuity will guarantee a modest annual income for the rest of my life, and if I die, the rest of my wife's life as well, and when she dies, 10 years into her beneficiary's life. In other words, retirement if I so choose.

My plan is not rock-solid-never-gonna-change. My final, largest, cash out is malleable with how and where I feel  XRP is heading at the time.

My projection "guess" is that the 98% cash out will be by the year 2025 for sure, and maybe 2022 or so. If it's not even close by those dates I'll re-evaluate my goals.

In the Excel sheet you should NOT manipulate the columns "Total $ Value Orig Holdings" "Total Sell Value" or the final 4 columns starting with "COIN Remaining"

http://www.meyeuniverse.com/Crypto_Exit_Strategy.xlsx

D56IeL0V4AAkdV6.jpg:large

It’s good to see you can live up to 100 years for the first sell price.....lol

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1 hour ago, Eric123 said:

@mariusthegreat what are you basing 7 years on?

In Dec 2017 the price of XRP moved from .22 to $3.30 in the span of 3 weeks, and it started the year at .005.  This isn't really a gradual mover.  Also, to succeed as a bridge currency the price of XRP will have to increase dramatically to create the necessary liquidity.  If that doesn't happen soon it will probably just fail as something else will move into the space.  I'd think movements are going to have to be dramatic and within a year or two at the latest if XRP is too succeed at all.

So if we are still under $1 in 2 years you will quit? I got 4 more years to go and I am done regardless what price point we are at once the 4 more years is over

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Just now, Eric123 said:

@ripplewaytogo I won't sell at any price below $10.  So if it doesn't get there, oh well.  But I'm hoping for $20-25.  I don't have an exit plan, but i should figure one out.  Every time I try to think of one though my head starts to hurt.

Glad u have a target price. For me this is always going to be a 5 year investment. 

I actually only have 3 and half years to invest in this. Once 24th December 2022 hits I am selling everything regardless of price. 

Hope we can be at $1.86 by then (this means I have doubled my money)

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2 hours ago, Eric123 said:

@mariusthegreat what are you basing 7 years on?

In Dec 2017 the price of XRP moved from .22 to $3.30 in the span of 3 weeks, and it started the year at .005.  This isn't really a gradual mover.  Also, to succeed as a bridge currency the price of XRP will have to increase dramatically to create the necessary liquidity.  If that doesn't happen soon it will probably just fail as something else will move into the space.  I'd think movements are going to have to be dramatic and within a year or two at the latest if XRP is too succeed at all.

So if xrp done the same gains as what’s highlighted in bold, but starting from 30c not .005, what price would we get too?

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12 minutes ago, BarryPotter said:

So if xrp done the same gains as what’s highlighted in bold, but starting from 30c not .005, what price would we get too?

@BarryPotter $198

 

@Eric123 nobody seems to know what drove the market in 2017 (or what subsequently crashed it), and everyone is quick to always say "past performance does not guarantee future performance. For all we know, Ripple could have their hands tied or be in a 3-5 year play before "mass adoption" can occur. I'm hoping for much sooner, but I would be amazed if XRP were to cross $50 within the next two years 

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2 hours ago, XRPJoe said:

Any good recommendations on OTC cash out? Also what info did they ask you for? 

I'm in Canada so Coinfield is a great option for me. I think it may also work in the US? You need to get verified to Level 6 (which I am) and then join the "Elite Club". I've talked with them about not wanting to join the Elite Club yet as most of my purchasing is done, I'm only interested in withdrawals. They mentioned that once I fund my account with $50,000 or equivalent crypto I can contact them and communicate with the OTC desk to move forward. Also Kraken is available for OTC sells but they won't talk to you unless you give them everything including what you had for breakfast yesterday. I'll complete that one in a couple of years. Coinfield will do $2 million per day OTC withdrawals so that should do for a bit :) . Don't forget, I'm 2 to 5 years away from cashing out so things change and I think there will be more options popup over that time.

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Posted (edited)

 

7 hours ago, MrVH said:

I created an Excel sheet to help me visualize and plan my cash out levels. You're more than welcome to use it, abuse it, and manipulate it. It's filled with demo data.

http://www.meyeuniverse.com/Crypto_Exit_Strategy.xlsx

D56IeL0V4AAkdV6.jpg:large

I like the demo data. It has 4 out of of my top 5 bags! Just need to edit TRX for VeChain.

Edited by ManBearPig

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7 hours ago, MrVH said:

I should have also mentioned, I have already set up the KYC requirements and have communicated with a couple of exchanges/companies that will allow me to process an OTC trade to cash out.

We're not even close yet, but it's never too early to have your ducks in a row!

What  annuity  would you recommend ?

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