Topic: 2022 Savings and investment plan - page 7. (Read 1361 times)

Maybe he had just only realized his mistakes just for this year and not to those previous years on where price declines is more severe than with this current market that we are taking on.Come to think that not all people would really be having the same mindset when it comes to things which they would really be hesitating on correcting their past mistakes but instead they would really be on observation but its better late than never.
Savings and Investment plan is a must and mistakes is one of the best teacher on improving out yourself on dealing with these things because if not then you would really be finding a big problem.

Your plan sounds too good at the same time I have seen many people at the times of new-year do have this kind of plans but later-on they do forget about it completely. I mean you should not quench your fire on investment but you should keep on feeding it. At the same time, you first consider bitcoin because it is a proven opportunity for this digital era.

Along with bitcoin you may not need to go for diversifying your portfolio; still it is your personal preferences but as for many people here we do not need to diversify within crypto investments.

An ideal investment plan to stay away from inflation. Its like holding gold for a long time which value most of the time increases. The key difference is crypto has more growth rate than gold and it has a limited supply when gold has an unlimited supply which is increasing. It is time to make more social awareness so that only some of us not getting benefited but also most of our community too.

Exactly, saving and investing are related, if you do not have any money saved then it is impossible for you to invest, this explains why so few people around the world are investing, because there is not a culture of saving in most countries and most people spend every single dollar they earn, now there are some people that have a justification for this as they earn too little money for them to actually save any money, but the middle class spends all their money on small luxuries instead of keeping some for a rainy day and then invest that money in something like bitcoin.

Savings and investment plans are nice things to start this year. Financial literacy should be something to be taught first at home and then in school so that people would be more knowledgeable on how to handle money and how to make decisions that could either make or break them. I agree with you that the past year has taught us so many lessons because I, myself, also experienced hardships last year. I have my fair shares of ups and downs and I have experiences in which I must say a lesson learned well and charge to experience. Because there were also several times in which I acted impulsively resulting in an uncalculated outcome that just brought me regrets. Although, I know I have learned something from it and that's what is more important so that I won't be able to commit the same mistakes again in the future.

Indeed, knowing how much funds you have and properly allocating the budget you have is a good thing to do so that you won't be short in funds in something you are planning to start. Make a list and write down the things you want to start this year. Check what's your priority and then allocate a budget for each of them. Make sure also to have multiple streams of income so that you won't be having a hard time making an in-flow of money. That way, you will have different sources of fundings and you won't be so down if ever one fails to generate for the meantime because you have backups. You see, diversification is a very smart move to do. It would be a little difficult and challenging at first, but it would definitely pay off. Of course, still, do a thorough checking on the things you are planning to diversify your funds with because there are still so many scams and schemes nowadays and it's always better to be safe than sorry.

Yes it is usually known as cold money and that way when deciding to invest we are not too worried about losing money,
that's right, it's better that way, especially for newbies, they have to learn a lot and do it gradually

It's almost the same just investing more to save something in a different form instead of money, you will never be able to start investing if you wait for a large income, it would be better to start with a small value and if possible evaluate all expenses if possible you can reduce it and add a larger portion to the investment.
Although you have regularly invested but do not forget to save because if you still have savings it will be better for urgent things than having to change your investment to fiat.

It is different but it is related. When you invest in anything besides crypto, you should use free money that you do not use to fill your daily needs or urgent things so you will not be too sad if the money is reduced or lost in the future. It is better to start with a small amount while we still learn to know what benefits we can take in some time. After that, we can decide to add more money for the investment but not borrow money just to invest because that will be too dangerous for you if you do not know how to manage it.

I think saving and investing are different elements saving is saving money and investing is investing money.
I suggest if your income is still small, save first and then you can invest in peace, and if your income is sufficient to invest, I think you can just invest without saving first.

Plan can be somewhat useless if you are not consistent with it. In fact, many people are doing this and many of them just fail and why? That is because they have lack of patience and they are not committed to doing it. It is mostly a test of ourselves of how strong we are in achieving our goal, once we fail and give up, that it never makes sense at all.

What I could suggest to OP and to everyone, we have to create a plan that we think we can make it and preferably achievable, otherwise, it remains a (useless) plan. Anyways, I believe that you can do it OP, and good luck.

I have been the same so I understand, considering I have been in crypto for nearly 9 years now and have very little to show for it, I have to say it is understandable for people to think it is not really what they hoped for. I mean of course you are not going to make a lot of profit very quickly but if you do not start now then you are going to be even more late.

So for the past 2 years, I try to put everything aside into crypto, sometimes I had debts, sometimes I paid for some other investments, it went up and down but I am not at zero. Sure, I have to work another 20-30 years and I hope to god that I would be doing the same job that long, but I am fine with it, I will save, and wait for that day to come and I am not in a rush. If you could be patient about your investment then you are going to make a good return for sure, just not very quickly.

it is never to late. It may take you years to convince yourself that there is something else than holding your cash and see it victim of the inflation year after year or buy a negative interest rate bond from the EU or go into fixed deposits that pay less than the (REAL) inflation out there. It is never to late to get into a savings plan, yet probably investing into crypto is not exactly a savings plan, but more of an speculative investment for the future.

Sounds a solid plan, but I'm just wondering why did you just emphasize the mistake in 2021? I mean you're here long enough before the pump in 2017 which really caused a lot of investors to regret. Haven't you learned a lesson from there?
You should have made good decisions in 2018 and buy more Btc or alts that has potential to grow from there.

It's just Ironic that you're here for quite a long time yet you haven't decided to make any investment plan but just now.

Yes, it should be noted that planning is very important. The crucial stage is when the market is falling,

many investors and traders are afraid of losing their money, while wise investors who have good plans ahead are rushing to buy
for more to hold, they understand that once the market bounces back, the benefits to their invested money will flow.

Most of the time, it's always your knowledge and understanding that established your strategy and plan to push thru.

That's a great idea to already have an investment plan for the whole year planned out. Like this we know exactly how much money from our salary we can set aside for saving and investing. I am doing a similar approach, where I have 2 ETF that I use as my monthly investment scheme. There is almost no fees involved and keeps me invested in global stocks. The rest of the money I put in a bank account, can't really say savings account because there is no more interest. From that I pay all unexpected things like repairs and use some money for crypto investing or gambling.

Everything should have a plan.I have already some plan for this year.I want to Invest in Long time holding and trading. My plan goes to I'm buying some valuable coin and long time hold and. I think every investor or trader should need to patience and control yourself.I learned already from my mistake in 2021, i hope i will Victory this year.

I Think first You need to made right choice and i hope you will get benefit from your holding coin and trading business.

What you say makes sense, sometimes we forget that crypto prices are volatile, we can generate profits other than holding Bitcoin. Some coins are
indeed very good for day trading, we can make a profit every day, even though the profit may be small. But if it is accumulated it will be big too,
than we are just holding Bitcoin without doing anything. If there is another way we can do to generate profit, why not try it. Although maybe the risk of
day trading is very large compared to just holding Bitcoin without doing anything. But sometimes if we want to achieve success, we must dare
to take risks, so it is up to us whether we dare to take risks or not. If we are people who like to play it safe, it is enough to just hold Bitcoin
in the long term. Because not everyone likes to do something high risk.

Everything should have a plan because you would really be having problems later on if you do made out the bad decision thats why you should set out goals or targets for every year that would be coming so that you would really be that prepared neither for emergency funds or for investment plants.

You wouldnt know on what comes next thats why everything should be planned so that every possible scenario or events could really be handled out.

If you are focused more on investment then you should research and prepare it for the best because being prepared is always been recommendable.

Invest when we have extra amount in hand after all monthly expenses. If your income satisfy your basic needs and you have 20% left in your income then yes please choose a best coin and just invest on it on a monthly basis irrespective of what price it is. Do not either borrow and invest nor invest and be in a situation of unable to manage your basic needs. When we plan as above, we will be at peace watching the market without expecting a turn over from it to satisfy our monthly needs or to close of the debts.

Yes, we must manage finances as well as possible with good management that does not interfere with each other,
before buying it is clear we have to make a plan or strategy and that is the important thing