wait for it ...
His efforts paid off early this year when he announced on social media that he had finally saved 135 million yen (US$860,000) after 20 years and 10 months of working for the company.
However, his joy was short-lived, as he recently disclosed that his savings had shrunk dramatically due to the yen’s depreciation since the beginning of this year.
“If the yen keeps depreciating, I’ll never achieve financial freedom. What have I been working for these 21 years? It’s all meaningless, so tragic,” he said.
When I was 15 I used to go without lunch in school to save my lunch money to buy a boogie board. But as soon as I got home I would eat something.
Its amazing the extent some people go to to save money. Especially in East Asia. They take it to a whole other level. Some people live away from their kids just to earn a bit more.
Crazy. My dad would sleep in a van in his work's parking lot. Although that was mostly to get by and avoid a commute.
That counts toward the homeless population
Half the time it is more comfortable to sleep in your car than to get a hotel.
At least you know your car is clean...
Yeah, the asian population takes things to the extreme at times.
That's tragic...
15-50 years ago, the ones that didn't put their money into housing, stocks, etc, were the ones left out.
0-15 years ago, some new and obscure trick financial advisors don't want you to know about, promoted on obscure forums such as this one, seems to be the way to go~~
He is going to be super mad when he finds out he could have just saved in bitcoin.
Bitcoin needs a catchy acronym that a lifestyle brand can be built around though.
Does it? Either everyone knows about it, and no one uses anything else, or it is still early and many people do not use. Tautologically, not everyone can enjoy the same degree of number go up -- only when fiat is dead does the theft end. Only when fiat is dead will the true value of bitcoin start to come into effect. Only a small minority will become rich from bitcoin, it is the death of fiat that is imperative.
The greatest challenge is how to not to make it sound like a pyramidal scheme cliché. Even "financial freedom" has been tarnished by scammers. "Digital Gold" might be the best so far?
Did the article say that he just saved in cash?
I would think that he invested it.
As long as he doesnt cash out, it will work out in the end.
He must have been just saving cash. 100M/21years = 4.7M/year which would make sense based on the lifestyle he described.
I'm very much thankful to a co-teacher who told me not to remain idle with my fiat earnings. When I started working before 18 years, I almost thought of the same plan as this man dod. I wanted to save in INR inside a bank account. But that co-teacher showed me the way to stocks/real-estate/gold and some other investments! Now, I know Bitcoin and it's miraculous! I'm retired of doing a job before reaching the age of 40. I still work but that's at my own will.
Lol this is some squid game vibes right here, but more power to him for grinding, proves that you can save but you just need to pick a better vehicle, man saving in Yen would make me totally miserable, even if he did that in gold or USD he would have been so much better off, nevermind if he did it in Bitcoin dude would have been stacked like crazy probably a 15-20 coiner + easy
That’s tragic. Japanese culture can be so strange like that. Fantastic work ethic though and commitment to a frugal life.
I know, that is discipline!!
He had a goal in mind and worked towards it.
More than what 90% of people are able to do.
Money left idle is money lost.
Such a fiat phrase
An extreme case of poor money management and the rising cost of inflation.
If only he HODL’d Bitcoin instead, things would have been very different.
He started around 2000, Bitcoin didn't exist yet.
The article mentions that a Chinese commenter said he should have bought gold.
If he starts a gofundme, or a bitcoin account, he'd probably Hodl to retirement.
damn, he kept that shit in yen :(
What a revealing article!
$860000 should be enough to retire in Japan at current prices or he should at least buy a few Bitcoins.
This just goes to show you with enough dedication and discipline, anything can be achieved.
It does help that Japanese people have a different background.
Its so easy for people to hand out advice when it isnt their money they saved.