Retirement Financial Planning & Role Of Crypto

How cryptocurrency is helping fund my retirement lifestyle




Charles Luxford
Partner


18 January, 2021 | 5 MIN

What I’ve done during my lifetime is, of itself, possibly of little interest, it’s what others have contributed and the lessons learned that underscores a life’s true value.  I like to think I’ve lived a very rich life in lots of ways!

I was born in London and spent most of my childhood in Heston.  My father ran his own business, as an electrical engineer, and was very careful with his finances, only occasionally dabbling in blue-chip British companies such as British Airways!  My mother stayed at home, as was often the case at that time. My father taught me financial acumen, along with maths and practical skills, whilst my mother gave me a great foundation in life.  Between them, they gifted me an invaluable moral compass, of fairness honesty and justice, that I’ve tried to always use for all decisions.

I was lucky enough to find my major love in life early – music!  My mother loved classical music such as Rachmaninov, Bax and Delius, and I was lucky enough to have an amazing music teacher at school, who insisted on serious vocal studies with a fine teacher in London.  This led to studying singing at London’s Royal College of Music which was a dream.

It wasn’t customary to take a gap year in the early 1970’s but joining the BBC provided an interesting start in the world of work. My inherited east/west London accent didn’t sound attractive apparently, so listening to and emulating the renowned radio broadcaster of the time, Richard Baker proved to be a lifelong asset! So much so, some years down the track, acceptance to join the announcer training program was a huge bonus. Unfortunately, government funding for The World Service Studio Management courses was withdrawn, and eighteen months of waiting, hoping and ultimate disappointment ensued.  Luckily, working for an understanding Beeb allowed some time and opportunity to travel the home counties plying my trade as a young professional singer. However, recessional cutbacks, in funding to regional arts societies meant that this freelance work gradually dried up.

In the late 1990s I found myself firmly in the grip of a proper corporate career, having set up a manufacturing business in glass, china and promotional giftware.  Unfortunately, the British Pound and the US dollar parting company, when most of my customers were in America was a death knoll for my business – and ultimately the loss of £4.5million -  no small change.  Whilst it was devastating at the time, particularly as it coincided with a divorce, I don’t believe in licking your wounds, so I dusted myself and carried on.  ‘Bouncing back’ is a great skill to have!

Undeterred, I joined Invesco, one of the largest investment managers in the UK where I stayed for the best part of a decade, working between customer services and the fund managers.  It gave me a great understanding of the markets and a front seat in the 2008 general financial crisis. The resulting recession stood in the way of a long-promised promotion, so I started teaching freelance, which coincided with having to nurse both my elderly parents over a number of years until they sadly passed away.  I decided to move from the South East to the North East, are area perfect for long scenic walks, and a great environment for thinking and writing copiously!

I was introduced to crypto and Dacxi in late summer 2020 by a friend of 30 years, which coincided with a modest pension lump sum. I knew a little about crypto, but personal recommendation meant a lot to me, and I was able to mine her knowledge and buy on trust.  Unfortunately, my pension planning has not adequate, so the performance of crypto has gone some way to address this.  With some teaching online, which remains a passion, the returns from my investments sufficiently augment my income.  I appreciate that markets fall and rise, but currently crypto outperforms everything else available to me.  I believe property is wallowing, and I like that crypto is primarily an eastern market, thus avoiding the Brexit/EU doldrums!  Such is my enthusiasm for crypto and the Dacxi crypto wealth platform, I have also introduced some of my contacts to crypto and earned a modest referral bonus.

I have thought long and hard about how I would like to spend retirement – ideally floating around the Aegean Sea in a yacht for 3 months of the year!  Currently, I am enjoying the natural resources of my environment, via hill walking and coastal walks.   I spend my time making music, spending time in my luxury apartment in a converted old brewery, and driving my convertible Mercedes.  Visiting my 9 children and 6 grandchildren who are dotted around Cheshire, Milan, and the South of England is a great pastime.  Luckily the cost of living in Northumberland is much cheaper than London / the South, and the income from my crypto investments has been extremely helpful; long may it last!



Dacxi is proud to support people on a path to prosperity with crypto. If you would like to find out more then please join us at dacxi.com. We’re here to help.

Find out more


Get our FREE updates

Please subscribe to hear updates from our Blog & News broadcasting team at Dacxi.




How crypto makes me free
29 April | 5 MIN