Sudden Wealth Syndrome (SWS): some advice on the next steps after you’ve made it with crypto

Yes, there is a psychological condition for people who, suddenly, get rich. Paranoia, isolation and guilt are some of the symptoms. For people in crypto, generally the wealth increasing can be seen in real time, as most of these are long term holders. However, seeing the coin pumping and actually cashing out are different things. Cashing out gives the sense of "this is real", and a plan is needed to avoid/mitigate the SWS. Preferably, you'll have a therapist taking care of you. Make no mistake: mental health is a serious issue, regardless of what the this-is-sissy-stuff "tough men" on the internet say.

This post is intended for everyone that is reaching or will reach their moon in this bull run we're at. You can skip the first paragraphs and go directly to paragraph six.

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In one of my previous posts I've talked about how boredom hits after you've reached your moon. I've received tens of DMs, from bashing messages to people asking for advice, but answered none since I don't have time to argue with people on the internet and am also not a financial adviser. In fact, I did nothing too smart, I just hodled.

Before all the "moonfarming" bs starts in the comments, trust me here: although they're fun, I do not need moons. "Then why don't you just tip all your Moons?", because they're mine and I've earned them. Just chill.

Another thing I want to clarify to people: I did not become incredibly rich nor was I born in a golden cradle. Life was actually quite hard on me. Lost my wife early, had some health problems etc. I hastened my retirement in a few years (I'm 60+ years old now), paid off my debt and do not have to work anymore. Could I buy a few lambos and some houses in Miami? Definitely not. Even if I could, I was never that type of person. But I can afford not to work for others and this is priceless. Trust me: no number of lambos beat not having to work for others and be yelled at by entitled jerks anymore. But enough talk, let's go to the topic of this post.

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First and foremost, have a personal development plan. Write it down (literally) to help you have things clear. You'll realize that time does arrive and that you need some care, mental and physical. Study, have some dental care done, go to the gym. Do not let boredom hit you. Ideally (and I can't stress this enough), have a trained therapist helping you to deal with everything. You can pretty much ignore the rest of the text and focus on this. We dream about "making it" thinking that it's only happiness and joy. Although these are a big part of the experience, bad feelings can also come.

Family is tough. You go sideways with siblings throughout the years. Not everyone has a good relationship with their parents, but everyone has this or that uncle that is very distant. Until they hear you've "gotten rich". Never in my life was I invited for so many Thanksgiving dinners. First time ever that I was invited to be a Godfather happened more or less at the same time, by a distant cousin that I've heard about once or twice a year.

That being said, just keep your gains to yourself. I shared that I had made a lot with a cousin at the bar, and then it spread to the family. Had I just kept it between me and my daughter, I could have avoided lots of awkward situations and could be more comfortable around some family members.

Friends come and go and this is how life works. I've helped some with money, but it's like they say: you give a hand, they want an arm. Be careful with whom you lend money to. Not because of the money itself, but because it can destroy some relationships, and you'll realize that truthful relationships are very important. These are the ones you need to stay with.

If you have earned enough, help the community you live at. It does not have to be a million dollars donation, just see what kind of work is being done and what is needed. Food for homeless people, education programs for teens in social vulnerability etc. There are lots of projects to help people in need in every city. Look for some that raise your interest and help them. Get involved. It will give you a new view about your community.

Take profits. Last bull run was rough for some people. They had already made it but greed spoke louder. Instead of cashing out, they wanted more and wanted to ride the wave as much as possible. Then the market came down. Look at posts from January/2018 and beyond. It's really sad. If you can DCA in, you can DCA out.

TL;DR: take care of your mental health and have a professional helping you with the sudden wealth you'll have. Take profits, have a plan and do not disclose your wealth to everyone.

Stay safe you all. Godspeed.