I have decided to start spending my money. mid 30's male

I have decided to start spending my money. I have scrimped and saved all my life because that was instilled in me as I grew up. Partly because of my parents, various aspects of my upbringing like where I lived and because of certain life events.

I have about 3 million Canadian Dollars. I also have about 25 bitcoin but I haven’t touched it since 2011 so I am not sure if I still have access to it as I have encrypted it and haven’t verified it since then. I am in my mid-30’s and have decided that I need to start living life and experiencing things. I’ve been told “you can’t take it with you” 10 years ago when I had about $100,000 total saved but have brushed off those comments. Now however I feel I am in a bit more of a secure position. I have a job that pays around $110,000/year plus matching retirement contributions, I feel that I should work until I am about 55-60 years old because it is unhealthy for me to be idle, I have too many vices that creep in when I am lazy. The usual suspects are social media, infotainment, digital porn and excess sugar consumption. I also stop going to the gym when I am lazy and my sleep schedule becomes erratic. I need the discipline of a job to keep me at my best.

Last Christmas I didn’t go on vacation, I stayed home and my co-workers wondered about me and asked me if I was okay. The real reason is because I don’t like spending money, I want to maximize my savings. Now however I am seeing some white hairs on top of my head and on my facial hair and I need to start living life before I am too old to enjoy any of my money. Now I am planning a ~$12,000 vacation to Montreal this Christmas break. I am going to stay at a hotel and enjoy a heated pool and hot Jacuzzi in the cold weather, I am in the process of planning out everything and making all the bookings. I am going to have a great time, I took a 4 day vacation to Montreal 2 years ago and spent about $2000, but this time it will be for 3 weeks and I plan to spend about 5x that much.

My goal is to one day be able to purchase a 4 million dollar house in Vancouver, live in the basement, get a property manager to rent out the floors above me, and then have about 5 million dollars as a cushion to live out the rest of my life in case I lose my job. I would then feel in a pretty comfortable position as if I lost my job I feel I would be too lazy to find another, which is why I feel I should keep this job I have now that keeps my mind active.

It wasn't always this rosey, I did feel like giving up in 2010 because I had a part time job and no prospects after the great recession, but things got better.

P.S. The reason I am posting is because I have quit gaming and have extra time and this is my way of journalling before going to bed. My doctor said getting your thoughts down on paper before bed can help with better sleep.

The straitjacket shackling of BITX

https://www.reddit.com/gallery/1n11hpw

Taxes on Crypto Gains: How a Crypto IRA Helps

Cryptocurrency investing has exploded in popularity, but many people are caught off guard when tax season arrives. Unlike traditional assets that are often held in tax-advantaged accounts, most crypto is bought and sold in taxable settings. The result? Significant tax bills that can erode your profits. Fortunately, a Crypto IRA offers a way to grow digital assets while minimizing—or even eliminating—tax burdens.

Visit the Best Crypto IRA Company in the US

How Are Crypto Gains Taxed?

In the U.S., the IRS classifies cryptocurrency as property, not currency. This means every time you sell, swap, or even use crypto to buy goods or services, you may create a taxable event.

Common Scenarios:

• Selling crypto for cash → Capital gains tax on profits.
  
• Converting one crypto into another → Tax liability, even if you don’t cash out to dollars.
  
• Using crypto for purchases → Tax owed on the difference between your original cost and the asset’s value at the time of spending.
  

Short-Term vs. Long-Term Gains

• Short-Term (held less than 12 months): Taxed at your ordinary income rate, up to 37%.
  
• Long-Term (held more than 12 months): Taxed at 0%, 15%, or 20% depending on income.
  

For active participants in crypto markets, these taxes add up quickly. Dozens of buys and sells in a year can create dozens of separate taxable events.

The Problem with Regular Accounts

Most people acquire crypto through standard online platforms or keep it in digital wallets. While convenient, these setups are taxable. Every time you sell or convert assets, you may owe capital gains tax.

For those who simply hold long term, the problem may not appear until they finally liquidate. But when they do, large gains can push them into higher tax brackets, compounding the impact.

How a Crypto IRA Helps

A Crypto IRA is an Individual Retirement Account designed to hold cryptocurrencies and, in some cases, precious metals. By using this structure, you can unlock powerful tax advantages.

Key Benefits:

1. Tax-Deferred Growth (Traditional IRA)
   
   • You don’t pay taxes on gains until you take distributions in retirement, when your income—and therefore your tax rate—may be lower.
     
2. Tax-Free Growth (Roth IRA)
   
   • You pay taxes upfront on contributions, but all future appreciation and qualified withdrawals in retirement are 100% tax-free.
     
3. Unlimited Rebalancing Without Tax Impact
   
   • Inside a Crypto IRA, you can shift between assets without triggering capital gains tax.
     
4. Diversification
   
   • Many providers let you hold not only crypto but also gold and silver in the same account.
     

A Simple Example

Imagine you put $20,000 into Bitcoin in a regular account. Two years later, it’s worth $60,000. Selling would create a $40,000 gain. At a 15% long-term capital gains rate, you’d owe $6,000 in taxes.

Now imagine the same investment inside a Roth Crypto IRA. You sell at $60,000, move into Ethereum, then later adjust into another asset. Because all of this happens inside the IRA, no taxes are due along the way. When you retire, withdrawals are tax-free. That $6,000 bill—and all future ones—disappear.

Why iTrustCapital Is a Strong Choice

Among platforms that provide Crypto IRAs, iTrustCapital stands out for its simplicity and flexibility:

• 24/7 access to buy or adjust digital assets.
  
• Gold and silver options for extra diversification.
  
• Tax efficiency: changes inside the account are not taxable events.
  
• High security with institutional-level custody.
  
• Low minimums: just $1,000 to start, $500 for additional contributions.
  

Instead of juggling private keys or filing complex tax forms for every move, you can focus on growing your portfolio long term—securely and efficiently.

Visit iTrustCapital Here and Open a Crypto IRA Today

When Does a Crypto IRA Make Sense?

A Crypto IRA is especially useful if you:

• Believe in the long-term potential of digital assets.
  
• Want to minimize capital gains taxes.
  
• Are focused on retirement planning.
  
• Prefer a custodian-managed solution rather than handling keys yourself.
  

If, however, you need quick access to crypto for everyday use, a personal wallet may still be appropriate for part of your holdings.

Final Thoughts

Crypto gains can create large, unexpected tax bills when assets are held in regular accounts. A Crypto IRA changes that equation by sheltering your portfolio in a tax-advantaged environment. Whether through a Traditional IRA with deferred taxes or a Roth IRA with tax-free withdrawals, this approach lets you maximize long-term growth.

Platforms like iTrustCapital make it simple to harness these benefits, offering secure custody and access to a wide range of assets—all within a retirement framework.

If you want to keep more of your profits, the best move may not just be what you invest in—but where you hold it. A Crypto IRA gives you the opportunity to let your digital assets grow smarter, not harder.