Topic: 2022 Savings and investment plan - page 9. (Read 1337 times)

Having a plan than have nothing at all would always be better rather than on making no action in terms of savings because we know on how important this is.

This doesnt only talks about emergency funds but also could be possibly be applied when you do make out some investment too.Do you really like on a life situation on where

you do have a hard time on raising up yourself because you dont have money to spent? In terms of emergency on where you do tend to run into?

It seems to me that life gets harder to predict and making long term plans about the future might not be as effective as it used to be.You can't make rational decisions in an irrational environment.
The world is going crazy right now(or maybe I'm just watching too much TV,it gives me social anxiety).
I'm not going to make any long term investments in 2022.I'll just stick with BTC.
OP,how do you plan to diversify your assets and risk?Do you plan to buy real estate or maybe gold and silver?
Inflation is going to be the biggest issue for 2022.The pandemic might be the second big issue,because it might cause new lockdowns,increased unemployment rates and new stimulus plans.Nobody knows what will happen...


 

Right and we must invest our money into something that will give us returns in future not blindly invest in those shitcoins hyped at the moment which will loose their value with some time.This was what most of these altcoins witnessed as when the hype was over they started dumping in the market and investors loose their money so bitcoin is the best option for us.So for me also will try to get some of it and hold for long.

Same here, the year 2021 has given the best lesson in my entire crypto experience, it thought a lot of lesson which include patience, this simply because i will be holding some tokens, then i sold them out for small amount, then after a while, the coin will do 2x, which means i should have a deep research about each project i invested on before making the decision of selling out my coins. All it means here is i am to take more risk.

It is a good advise, it's just a question on how or if the investors has the mental toughness to hold for the time being, at least for me the next projected bull run could be in the next 3 years so that's a long time to be a investor. In any case, it is really a big test, but who knows, maybe when we starts to accumulate today and just be a holder, then maybe we will become a self made crypto millionaire in the next bull run when the price hits 6 digits.

Hopefully you learn your lessons, not saying that it's bad to invest on altcoins, but we all know the real deal in crypto market is bitcoin and there is where the smart money is going.

Not sure though if we can have a good profit taking year as it seems that we are in a bear market now, unfortunately, the best thing is to buy cheap at this current situation and hold it for a long time, at least wait for the next great bull run.

I lost huge fund in 2021 due to lack of proper financial management. I allowed the market to take it which is not good. I should have been supper rich and close to retirement if I didn't leave my profit in altcoins. If I had atlest just convert 80% of my profit to bitcoin, the situation wouldn't have been as serious as it's today. This year is a year of taking profit to me and putting that profit to good investment in an offline project.

Most people expect to have a big bull run because that is their way to profit. It is what is in their mind so they start asking others about the coins that will be profitable to hold in the short term without trying to research themselves. Most of them do not know how long they should hold their coins and although they save I want to have a long-term investment, they still do not know when they need to sell the coin, even if they meet the top price.

However, we know that crypto has big volatility and it is why if people do not analyze the crypto movement, they will not find the right coins to buy. These situations are good for building a portfolio or managing our portfolio as the price seems not to go anywhere high or low. But if we are not careful, we can hold the coin for some time without knowing when the price will be back to the high price. I like to see bitcoin going up and down many times every day because we can use it for our benefits which means, we can buy low and sell high. If we can do that, maybe we can get a stable profit although the percentage of the profit will not always be the same, that is still profit to us.

Most of the time, I would agree with you that bitcoin should be a priority investment but right now, I don't think so. Bitcoin is for long-term so that can only mean that you can slowly build it up. What we need to focus on are the potential ones to boom because making passive income isn't going to be enough if you want to build your wealth.

If I may give advice regarding your plan, I think it is better for you to study other businesses besides investing in crypto or digital assets, such as investing in property, mining, trading or other companies, maybe even opening your own business. it's all to increase knowledge, experience also increase your income pole, of course not too risky and get a promising passive income every month and every year.
Finance is like a table and income is the pillar, if one of them is shaken, the table will shake and maybe it will immediately fall (poor). shocks we are able to deal with. Good luck

Plan according to your financial capability. As much as possible, don't resort to requesting for a loan to address unnecessary needs. Also, as much as possible, aside from digital assets, try to invest also in tangible assets if you can like jewelry or real-estate. Those assets will not disappear overnight. Because with digital assets, you have no assurance that you will get the value you are targeting for this investment. On the other hand, most tangible assets increase their value thru time.

Rearrange and re-manage my finances is the first thing that I planned for this new year. For, there are still some plans that have not been achieved in the last year and I should manage them for several reasons.
Some are still continuing but some may be excepted and canceled.
Sometimes, our decision to run our own financial including saving and investment may change from year to year because it will also depend on each condition of somebody. Somebody may be so tough that is still going to maintain what he exactly planned. But somebody else may change them based on certain conditions following.

- And I personally think that diversification still becomes the important thing to do in this year.
- Changing my mindset about investment in some altcoins again, much better and wiser in deciding what to invest and not
- Re-managing my mind and plans in the target that I must reach in investment, I know that my target may be too high in the last year, that is why I should personalize them again by seeing the prospect of the market this year
- and some other plans that I should arrange in order to at least help my dream come true exactly this year

Always mind off on having savings and make things as less risky as you can or tending to handle out risk on a good manner so that you wouldnt really be putting yourself in much trouble whenever
you do experience losses thats why everything should be planned well so that you wouldnt really be ending up on a disaster in the end of the year. Set goals according into your own capacity
and tend to enhance yourself even more as you do learn when you do go ahead which is an inevitable thing and should be used on your advantage.

We do not need to have a big bull to make a lot of profit. The important part is to be stable, when the market is stable then you can calculate how much you could make. For example, if I invest into cake and stake it and make 100% return after one year, that means 1 cake I own will become 2 cakes. However, if the price drops 50% then I made zero income, but if the price moves 100% then I made 4x instead of 2x. When you do not have a stable market and end up with huge volatility like crypto, then you can't make predictions about how much you could earn in a single year.

This is why I believe that we should not be focusing on getting up all the time, sometimes we just need to focus on staying the same level. I am not saying that bitcoin should be 50k all year without ever moving, but at least make all the moves a bit more slower instead of hyped super increases in a week or super crashes in a day.

looks like a trivial thing but this is something that is quite important if they really want to manage this thing well.
at least it can be used as reference and comparison for investors because if you really want to get better, of course there must be an increase from year to year, and that cannot happen if we do not manage and pay attention to both income and expenditure from year to year.

I think its easier if you can find investment topics that align with your values and interests. That way you don't have to force yourself to follow things that are uninteresting, boring or repulsive.

It also helps to be curious about how things play out in the real world. Enough to want to learn and experiment with basic fundamentals. Relying solely on academic or textbook knowledge isn't a reliable approach imo as far as investments go.

It also helps to remember your investments don't have to be stocks, bonds, precious metals or even crypto. The only requirement is it being something that can make money. Which is a much wider category of things than most realize. There are people who buy clearance items from stores and resell them on ebay or other auction websites who turn that simple market mechanic into a multi million dollar business. While disposable income might be a limiting factor. Imagination doesn't necessarily have to do the same.

There are podcasts and youtube channels on side hustles which can also be a good place to find investment ideas and advice. Have you ever seen ATM machines or soda vending machines at gas stations or stores? There are people on side hustle podcasts who are willing to talk about their experiences running those types of side businesses. There is a lot of information out there which can be good.

For new coin investment I think much better to do counter checking and taking it seriously will save us from scams. But as of the moment since there are so many scams around, same as you I prefer bitcoin for now since this is much tested and we know it got higher chance to pump than any other coins in the market, so I guess this is more good than selecting new coins listed in the market.

It's better to make a background check which is the most ideal coin or asset good to invest in. For me, bitcoin is one of the most ideal it's already concrete and give a good profit and outcomes. But of course, be careful on the market volatility, not all the time it gives a good profit there's a supply and demand too. If you are planning to invest with altcoins it's a high risk-reward because not all the time they rise sometimes Rug pull happens.

That is a good @OP. At least, you know what you want to do. This year will not come easily as the last year as the big bull run is already happening in the last year but we still have a chance to see another bull run come this year. As long as you can make a good plan and stick with your plan, you will get a good result. Finance management will be necessary so you know how much money you should use to invest in crypto and how you will diversify your investment. But as usual, do not just stick to altcoin but focusing on bitcoin will be better as bitcoin will be your main investment.

Savings and Investment plan for this year??
Hmmmmmmmm maybe just accumulate more Bitcoins like what I'm doing for quite some time already.

I agree with some who said that most of the altcoins are shitcoins because they really is. Some of them are just created to scam people. Some don't even have a community to start with. Some aren't transparent and some doesn't have any use case that will benefit the people and many more.

Well, there might be some altcoins that can give you profit for a year but it still depends on what move will the market does. The OP's strategy though is what most of us investors are doing so its kinda generic and common already. The good thing is you are learning skills to have some funds to be used for investing into crypto which is a good thing .