When Retirement Becomes a Second Job
An Australian octogenarian discovers that the best retirement investment might be fewer headaches, a full kettle, and the freedom to ignore Bitcoin.
Being a curious old bloke comes with a peculiar problem. Every time I learn about something new, I am tempted to investigate it. Unfortunately, curiosity has a habit of opening doors that are easier to enter than escape. Cryptocurrency was one such door.
I ventured into the digital jungle to understand Bitcoin and Ethereum, armed with scientific curiosity, modest investments, and the dangerous confidence of a man who has survived decades of complex research. Surely, I thought, I could master a few digital coins.
After all, I had navigated scientific papers, technological changes, and enough computer passwords to qualify for an honorary degree in swearing. But crypto had other ideas.
One minute, your digital assets appear to be enjoying a sunny afternoon. The next, they seem to have fallen down a mine shaft. By the time you have made a cup of tea, the market may have changed its mind twice.
At my age, I prefer my heart rate to rise during exercise, not while checking an investment account.
When Retirement Becomes a Second Job
I eventually asked myself a question that every retiree should occasionally consider: Am I making my money work for me, or am I working for my money?
Retirement is supposed to offer a little freedom after decades of responsibilities. Yet here we are, potentially spending our precious mornings monitoring digital currencies, deciphering market predictions, and listening to twenty-something financial gurus explaining how to become millionaires before breakfast.
Good luck to them. I still need breakfast to settle properly.
I decided to sell all my cryptocurrency holdings. Not because I possess a crystal ball predicting Bitcoin’s downfall, nor because I believe nobody should invest in digital assets. I simply concluded that the complexity, volatility, and attention required were no longer worth it for me.
My retirement portfolio did not need another demanding house guest.
The Expensive Business of Being Right
Investing can become surprisingly emotional. Once we buy something, we may feel compelled to defend our decision, even when our circumstances or priorities change.
Psychologists describe one related trap as the sunk cost fallacy: allowing past investments of money, time, or effort to influence decisions that should be based on what makes sense now.
In plain Australian English, it is like continuing to eat a terrible meat pie because you have already paid for it. You do not have to finish the pie, mate.
Nor must you hold an investment simply to prove that your original decision was correct. Selling is not automatically wise, just as holding is not automatically foolish. What matters is whether the decision fits your goals, financial circumstances, and tolerance for risk.
For retirees, that question deserves particular attention. Money needed for living expenses should not be exposed to risks we cannot comfortably afford.
My New Retirement Strategy
I have not abandoned technology. I remain fascinated by science, artificial intelligence, and the extraordinary changes reshaping our world.
But I have discovered that studying an invention does not require buying it. Curiosity is not a contract, and every new technology does not need a place in my portfolio.
These days, I would rather spend time writing stories, exercising, enjoying family, and playing with my grandchildren than wondering whether my digital coins have developed another financial fever.
Australian investors should also remember that selling crypto can trigger capital gains tax consequences. Keep your transaction records, purchase costs, sale proceeds, and fees, and consult the Australian Taxation Office’s cryptocurrency guidance or a tax professional when necessary.
A simpler portfolio is lovely. An unexpected tax headache is not.
My experiment taught me something beyond blockchain: the freedom to change your mind is an asset, too.
I entered the crypto jungle to learn, learned a little, and eventually walked out. I may miss a future rally. That is possible. But I will not spend my retirement trying to win an argument with a market that does not know I exist.
This old kangaroo has hopped back into the sunshine.
After all, there are only so many mornings left to enjoy a decent coffee, a good story, and the occasional peaceful afternoon without a financial roller coaster demanding attention.
What about you, fellow retirees? Would you rather chase every possible investment opportunity or simplify your finances and enjoy the ride? Have you ever walked away from something that looked promising but demanded more of your life than it was worth?
Tell me your story. I promise not to charge a blockchain transaction fee for the conversation.
I also shared my crypto adventures on Medium in a more scholarly approach, with still some sort of sense of humor. If you want to read it, here is the link titled An Octogenarian Totally Quits Crypto: I Decided the Financial Jungle Was Too Bloody Complicated
Update on My Retirement Writing Schedule
If you are wondering what I am up to in my retirement years, I started a new series called the World Is Fucked Up. Here are three stories that might entertain and educate you:
In a World F@cked Up, Here’s What Medical Gaslighting Taught Me About Public Health
The World Is F@cked Up: The AI Race Finally and Unsurprisingly Has Entered Its Industrial Espionage Era
If you are interested in sex, I have started a sex education series that might educate, inspire, or even entertain you. Here are the links to some sample stories:
The 8 Habits of Sexually Satisfied Couples With Any Sexual Orientation
When Your Libido Says “Come Here” and Your Partner Says “Not Tonight”
What Most People Were Never Taught About Female and Male Orgasm
The Neurobiology of Sexual Pleasure and Meaningful Human Connection.
Human Libido: What Most People Were Never Taught About Sexual Desire
Neurocognitive and Affective Differences Between Erotic and Pornographic Stimuli in the Brain [Warning: This one is scholarly!]
What Science Reveals About Anal Pleasure and Orgasm for Both Women and Men [Free access via my community blogs]
Cheers, Mike!
About Me
I’m a retired healthcare scientist in my early 80s now. I have several grandkids who keep me going and inspire me to write on this platform. I am also the chief editor of the Health and Science publication on Medium.com. As a giveback activity, I volunteered as an editor and content curator for Illumination publications, supporting many new writers. I will be happy to read, publish, and promote your stories. You may connect with me on LinkedIn, Twitter, and Facebook, where I share stories I read. You may subscribe to my account to get my stories in your inbox when I post. You can also find my distilled content on Substack: Health Science Research by Dr Mike Broadly.
Here is my latest curated collection: Mike’s Favorite Stories on ILLUMINATION Publications — #277
More stories in my reading list:
List: Reading list | Curated by Dr Michael Broadly, DHSc | Medium
My Favorite Articles Which I Published & Read · 7112 stories on Mediummedium.com
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