#### Christmas Miracle!
I'm pleased to report that I've found $8000 lying around that I had completely forgotten about. A little over a year ago my dad let me in on a little secret: he had been putting money into a small live insurance policy in my name. Sounds kinda weird and random, but my grandma had a career working for New York Life insurance, so within that context it makes sense.
It's a small policy... basically if I die it looks like my brothers would split $50k. This policy was created with the intent that one day I might have a wife and kids that are dependent on me, which is not the case and appears as though it never will be. The yield on this particular policy is high enough to pay the $400 per year premium.
Apparently this is called a POP (premium offset payment). The yield from the principal on the policy goes into paying the policy, but now that this yield is higher than $400, it pays for itself... which is interesting... I guess.
It's quite odd to find $8000 in the "couch cushions" so to speak, but then again that can happen often within the cryptoverse. The $8000 on this policy is generating just over $400 a year. Maybe $500? I don't know I'm having trouble logging in online and I'll probably have to call them. It's supposed to be in my name now but alas: technology.
So this thing gets around 5% yield...
I gotta say I'm tempted to liquidate it and get the 20% from HBD. That's over $100 a month. $133.33 in fact. The bear market is a constant reminder about how we ignored HBD to our own detriment. Live and learn.
I told the girlfriend that I bet New York Life insurance probably has a better chance of systemic failure than Hive at this point. She was... shall we say... HIGHLY skeptical. In fact the conversation ended before it had even begun and she wouldn't even bother humoring any kind of debate on the topic. I suppose it would be tedious for me to just list off my perma-bull agenda.
But seriously though... what happens if a bunch of people die and legitimate life insurance policies cripple the institutions that issue them? New York Life is one of the most trusted institutions out there in terms of safety and whatnot, but I don't know... this simulation we live in seemingly always throws a curve ball out of nowhere.
It's also worth mentioning that a 20% yield more than doubles itself after 4 years. And that's only compounding every 12 months. With a doubling every 5 years even if you spend the yield instantly on other stuff.
It's just kind of hilarious how this all worked out.
When my dad told me about this policy a year or so ago I really wanted to cash it out right there and dump it into crypto. But that seemed like a rude thing to do and I figured I could just forget about it until the bear market came. Wow, worked exactly how I planned. Lucky, eh?
Yesterday my roommate got some mail from some random insurance company: shilling their service with junk mail. That's when I suddenly remembered this policy was laying around. I thought it was $5k but then when I checked it was $8k. Small miracles.
Conclusion
What will I do with the money? Probably nothing. If anything I should probably just let it sit in my bank account to pay bills and whatnot. When you're as overextended as I am into crypto, simply not selling is kinda like buying. This amount of money is such a godsend at this point. Pretty awesome.
At the same time the economy looks really bad and I watched some short clips of the last FOMC meeting, and holy god were they just laying it all on the table. Literally talking about not telling the public that bail-ins are real as to not cause a panic. Telling the public about a bail-in might cause a bail-in. Yes, we certainly live within a simulation.
wild...
From this standpoint keeping the money in my bank account seems a bit silly. FDIC insurance is out there covering something like $8T worth of secured debt (money in bank accounts). Spoiler alert: they don't have $8T to cover the damages if everything fails at the same time. It's a fractional reserve just like everything else in this debt based economy.
Ah well, in any case, long story short: I have $8k laying around paying for a life insurance policy that nobody needs. Perhaps I should get a move on and liquidate that nonsense and put it somewhere smarter, but is it really smarter? Meh, let it ride.
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