05-26-2021, 11:09 PM
Hodling pays off - Finally rid of my student loans!
<!-- SC_OFF --><div class="md"><p>Discovered crypto while I was in graduate school in 2017, but didn’t sell at all during that bull run and learned my lesson lol. Bought more Ethereum in the bear market of ‘18-‘19, and never traded or sold until a few weeks ago when my portfolio hit the milestone I committed myself to. </p> <p>Finally got the notification from the loan provider today that it’s paid off in full, and I can’t even describe the relief! (Of course the banks &amp; provider took a few weeks to process the payment haha). </p> <p>Hodling crypto feels nice, but freeing myself of this debt feels even nicer. Don’t forget to take profits, it’s more relieving than you might think!</p> <p><sup>sorry</sup> <sup>for</sup> <sup>those</sup> <sup>seeing</sup> <sup>this</sup> <sup>twice!</sup> <sup>automod</sup> <sup>deleted</sup> <sup>last</sup> <sup>post</sup> <sup>because</sup> <sup>of</sup> <sup>title</sup></p> <p>Edit: well this blew up bigger than I expected lol. Seeing a lot of the same questions so I’ll try to answer here:</p> <ul> <li>Yes, I set aside some for taxes. I intentionally didn’t trade or touch <em>anything</em> for well over a year to lock in those sweet long-term capital gains taxes
</li> <li>loan paid off was originally 8.5%, refinanced to 4.5% in 2019. And yeah, I <em>will</em> be a little sour if Biden ends up wiping away everyone’s student loans after this haha but it is what it is, and this was a guaranteed weight off my back</li> <li>most of what I sold was ETH, but also some Bitcoin and Cardano. Without getting into specifics, I was up ~15x my initial investment when I sold. </li> <li>Will probably re-enter during the next bear market, in the meantime I’ll be cheering y’all on and saving up on the sidelines </li> </ul> <p>Thanks for all of the kind words and awards!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/shewmai"> /u/shewmai </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nlllgw/hodling_pays_off_finally_rid_of_my_student_loans/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nlllgw/hodling_pays_off_finally_rid_of_my_student_loans/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Discovered crypto while I was in graduate school in 2017, but didn’t sell at all during that bull run and learned my lesson lol. Bought more Ethereum in the bear market of ‘18-‘19, and never traded or sold until a few weeks ago when my portfolio hit the milestone I committed myself to. </p> <p>Finally got the notification from the loan provider today that it’s paid off in full, and I can’t even describe the relief! (Of course the banks &amp; provider took a few weeks to process the payment haha). </p> <p>Hodling crypto feels nice, but freeing myself of this debt feels even nicer. Don’t forget to take profits, it’s more relieving than you might think!</p> <p><sup>sorry</sup> <sup>for</sup> <sup>those</sup> <sup>seeing</sup> <sup>this</sup> <sup>twice!</sup> <sup>automod</sup> <sup>deleted</sup> <sup>last</sup> <sup>post</sup> <sup>because</sup> <sup>of</sup> <sup>title</sup></p> <p>Edit: well this blew up bigger than I expected lol. Seeing a lot of the same questions so I’ll try to answer here:</p> <ul> <li>Yes, I set aside some for taxes. I intentionally didn’t trade or touch <em>anything</em> for well over a year to lock in those sweet long-term capital gains taxes
</li> <li>loan paid off was originally 8.5%, refinanced to 4.5% in 2019. And yeah, I <em>will</em> be a little sour if Biden ends up wiping away everyone’s student loans after this haha but it is what it is, and this was a guaranteed weight off my back</li> <li>most of what I sold was ETH, but also some Bitcoin and Cardano. Without getting into specifics, I was up ~15x my initial investment when I sold. </li> <li>Will probably re-enter during the next bear market, in the meantime I’ll be cheering y’all on and saving up on the sidelines </li> </ul> <p>Thanks for all of the kind words and awards!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/shewmai"> /u/shewmai </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nlllgw/hodling_pays_off_finally_rid_of_my_student_loans/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nlllgw/hodling_pays_off_finally_rid_of_my_student_loans/">[comments]</a></span>Kind Regards R