My Two Week Update with DRIP
If you have read any of my articles you already know that I am a high school math teacher and I am getting very close to retirement. My wife is in education (she’s a principal!) and is also close to retirement. We are on the exact same page as far as plans for retirement. Move from the Midwest to Florida and never have to shovel snow again. This requires we sell our house that we’ve lived in for 22 years, build a new house in Florida, and get out of Dodge!
The first part of the plan is complete. We spent three weeks in May cleaning out 22 years worth of cra… I mean stuff. Wow! Looking back on the whole process, I can not believe we pulled it off. After about 12 trips to the dumpster with cars full of things we didn’t want or need and couldn’t sell or recycle, 6 trips to the electronics recycling plant, and numerous transactions with people through Facebook Marketplace, the house was ready to go on the market.
The house went on the market at the end of May on a Friday. From Friday through Sunday there were 68 showings and an insane open house. A little off topic here, but I set up 8 cameras throughout the house and my son and I watched and listened to people trapesing through our house for three days. I highly recommend doing the same if you are selling your house. It was VERY entertaining. There was so much interest that our agent told all the other agents to present their highest and best offers by 10:00 am that Monday.
I could not believe how fast we sold our house. I knew it was a sellers market, but did not believe it until I saw it. We ended up accepting an offer 12% over asking price! So the proceeds are in some safe investments, we found a townhouse to rent, and we are planning the next phase — build a house in Florida. We found a brand new community outside of Sarasota, on a golf course, that will have about 1400 homes when finished. The part of the community that we are looking to build is about two years from development so it works perfect for our timeline but not necessarily our pocket book.
As hot as the real estate market has been in the Midwest, it has been even hotter in Florida. The home we were looking at about 6 months ago had a starting price of about $600,000. The starting price now is over $150,000 more! In two years I am afraid to even think about what it will cost.
Well, we will figure it out. Somehow. Someway. Hopefully. I’ll find a way. Enter stage left an article on Medium about the DRIP community. I’ve read so many DRIP articles in the last two weeks I don’t even remember which one I read that made me pull the trigger. But pull the trigger I did. After a little mishap with some funds that hopefully one day will show up again (not holding my breath) I figured out how to get $5,000 worth of funds from Coinbase Pro to my Metamask wallet.
When it was all said and done, I bought 73.8 DRIP worth $4,635.38. That was 14 days ago. Since then I have followed a hydration schedule where I either do nothing with my DRIP, hydrate (compound my earnings) or claim my earnings. It sounds scary but it is not really once you understand the process. Some time in the middle of January I will have accumulated 100 DRIP. That is when I will start alternating between hydrating and claiming.
Let’s get to some numbers. Let’s face it, that’s why you are here. As of today I have 86.777 DRIP worth about $8,087.61. Wow. That is a 74.4% return on my original investment in 14 days! If the current price holds, I will have my original investment back around the third week in April, about 13 weeks after my initial deposit. From there it is just earnings!
Here are some more numbers and I will base them on the original price that I bought my DRIP. So these will be VERY conservative numbers since DRIP has gone from $57 on December 18th to over $90 per DRIP today. That is why my investment has earned 74% so far but we’ll pretend it has not.
December 18: 73.8 DRIP worth $4,635.38January 1: 86.777 DRIP worth $4,954.97January 16: 100 DRIP worth $5,760.16 (Up to now I have not claimed any earnings. Now that I hit 100 DRIP, I will start claiming. Basically I’m taking profits every other day now.)
June 5: 195.5 DRIP worth $11,165 and I will have claimed almost $4,700 which covers my initial investment! The rest goes to the house fund. This will occur 7 weeks sooner with the current price of DRIP.
Let’s skip ahead one year.June 5, 2023: 1,103 DRIP worth $63,000 and I will have claimed $48,804.
I think you can see where this is going. By October 7, 2025 my DRIP contract will end and I will have withdrawn over $2,000,000! And this is if the price of DRIP remained the same as when I started. With the current price of DRIP this final amount balloons to over $3,700,000. Perfect timing to buy a new house. This plan is coming together. I am dreaming about naps in the lanai!
I encourage you to do your own research on the DRIP project. As with all crypto investments, it is not without risk, and you should never invest more than you can afford to lose. If you are ready to jump in continue reading!
If you have not done any cryptocurrency investing yet, there is a bit of a learning curve to get things rolling. The following instructions assume you have have a crypto wallet, know how to get fiat onto the Binance Smart Chain and can buy the BNB coin that you need to buy DRIP.
If you need more specific directions on getting money into the crypto currency world, feel free to get in touch with me on telegram: https://t.me/shawnmartin
You’re set up on DRIP. Get ready to receive 1% daily!
Here are a few more links to information on the DRIP ecosystem.
DRIP Lightpaper — https://www.docdroid.net/0i3RJTu/drip-lightpaper-pdf
DRIP Contract — https://bscscan.com/token/0x20f663cea80face82acdfa3aae6862d246ce0333
NOTE: The amount Deposited is not withdrawable. In exchange you receive 1% of that staked amount on a 24 hr basis for the next 365 days, which can be rehydrated/recompounded, or claimed.
New Contract (“v4”): https://bscscan.com/address/0xa38e0b7da56227bd9ba1ccf1ff7d23aba4807158#code
Note that this article should not be counted as financial advice. Please do your own research before investing in anything, including DRIP.