Topic: Are You Sticking to Your Plan or Has Life Made You Pause or Modify It? - page 5. (Read 791 times)

I've never fully committed to considering Bitcoin as an investment, and I generally don't believe in 'no matter what' scenarios. If you have a chance to assess the situation and adapt your reaction, why not do it? Why stick to something that clearly isn't working or should be revisited because of unexpected events?
Since mine was and continues to be more of a personal guideline than a plan, I'm sort of following it. But sometimes I find it harder to do because of changes in my life, so I think it's totally fine to make the appropriate changes and not worry about that.

If there's one thing I have come to realize about a good plan, it is that the plan is adjustable.
Many reasons can make an investor not follow a said plan of even DCA because of the current economic hardship or inflation or unforeseen circumstances redefining the moment.
I have always firstly paused when am faced with a challenge that's threatening. If the pause period is growing long, the best thing I do is actually to modify or improvise on the original plan, so as not to become dormant or channel the energy into a wrong direction.

Life is unpredictable, and it is important to have a master plan in place. I am referring to the main goals and objectives in a person's life. Along the way, as time passes, there will be some unforeseen situations, and you have to modify your plan and way of thinking to get past that situation. You should be flexible in your plans so that they won't trouble you in the long run.
As far as investment plans are concerned, it is advised to have a diverse portfolio. You should have some of your investment in liquid assets and the remaining in Stocks and Bitcoin etc. You should also have some emergency savings as well. This will help you to face any kind of emergency or situation in the future.

It is obvious that we cannot predict our future, especially in a precise manner. Things always happen and will happen that we cannot hide from. It is always good to follow the path that we plan for our lives, but adjustments will still be made one way or another. Those people who go against fate most often lose something else, maybe even more valuable than money.
On the other hand, all the events that happen to us on the way to the goal give us the opportunity to gain experience and become more competent in certain situations.

Unexpected situations will always exist in life, because if all people could predict every situation that would come with their own thoughts, I think there would be fewer people who would have difficulties in life. Because every bad thing will be easier to avoid, but because the situation is always unpredictable by everyone, of course every plan we make ourselves must always have adjustments and balance in carrying it out with several important points and one of them is as you said.

So far I have not changed my investment plan - but only adapted to the circumstances. I mean - I don't insist on continuing to accumulate as long as there are other needs that tend to take priority. The initial plan is still the same - this is a long-term investment that should be managed in such a way that as much as possible does not change the plan.

You must be able to set a reserve budget before you start investing - of course this is done so that you don't easily change your investment plans, especially when there is an urgent need. Long-term investors have to think about that and plan well - I think that's an important part from other important parts.

Life scenario comes in different ways we don't understand at times. Sometimes it comes softly, or at times harshly. The way we follow it up tells how broken or made we will be from it.

Bitcoin investments don't go too rosy at all times, making a plan b will always be necessary if we want to be happy in it. Although I have always learned bitcoin to be a volatile asset that can do well in price in the future if hodl. That's why in this present market condition, I want to stick with the plan of buying and accumulating at a low price and aiming to sell at a higher price. Modifying it at this time doesn't really make sense since we will soon be seeing the green candlelights

Not gonna lie, I got subjected to one of the worst situations you can be in corporately as of now (got laid off on my other job, had to focus on my deadend 9-5) and I have to make do of the situation until things get a little more brighter, so yes, I've been in a pickle as of now, good thing I have substantial savings that would keep me afloat for a couple of months to a couple of years depending on how inflation acts up in the future. Anywho, the bacon comes for those ready to grab it with a fork, so if you're dilly-dallying and blaming other factors for why you're dealt a bad hand now instead of actually acting upon your situation and doing something about it, this pickle you'll be in, you'd probably be stuck in here for a long time, if not forever even.

Indeed, in doing something to achieve a goal, we are required to have good planning so that everything can go according to our expectations. However, we need to remember, sometimes what we plan is often not in accordance with what happens in the field and this can happen because sometimes in its implementation we often encounter challenges and problems that are beyond our previous expectations. But do we have to replace this plan with a new plan? Yes... we need to replace it if it is deemed that the previous plan cannot solve the existing problems and is no longer in accordance with the existing reality. However, if the previous plan is still deemed to be in harmony, then we don't need to bother replacing it and the only step we have to do is re-evaluate it to find out what are the shortcomings and add new strategies that are deemed capable of solving existing problems and answering the challenges faced.

Well, life has changed a million times along the way for sure. I have never made any calculations regarding crypto neither, when I was growing up there was no crypto, bitcoin wasn't invented, so I never really assumed this would be possible and suddenly it is, that's a very important part of it.

I think it should be noted that things are not that easy for a lot of people and we should be avoiding it as much as we possibly could. I believe that we are not going to end up with anything that could be a little bit riskier. So long story short we should note down the fact that we can't really make anything bigger change, but sometimes life changes it for us and we need to accept the ride and go with it with whatever we are given.

Everything is going on as I planned until now. My long term goal, accumulation strategy have never changed and they won't. The only changes I made to my long term goal were to lift the portfolio size higher than I planned for at the beginning of my journey. For my short term plan I was much more flexible and made changes based on my necessities. There were some downside which gave me valuable lesson but my mindset and overall strategies are still the same. Historical data tells me bitcoin is following the path it took in all of its 4 year cycle so there is no point in thinking it won't be this time. Although i do believe there is no guarantee it will be the same this time but the probability is high.

Of course nature has always been firm and still portraying the realms of plans ahead of time.
During my university days around 2018, I worked a part-time teaching job and then, my friend brought about Bitcoin to my aid but I was ignorant to it because I thought expantiating my teaching carrier after I could have an insight of how lucrative it could be to have an institution.

Time goes and that of my friend keep bringing about Bitcoin to me and trying to convince me that I can still take walk towards my pursues while I can still invest on the coin because it doesn't require personal skills or much attentions if only the technical structures is adhered to and yet I was adamant to it.

All of my aim was resting at installing an institution of my own atleast from a local planning sector because in my country, there is always a geographical regional institutions that is categorized between the rich, poor and the average schoolars and that of poor likely to be part of the average schoolars does not really requires standard background structures.
I works over my head to make earning til I could accumulate a capital to kickstart my journey of dreams..
Time goes by and my friend was doing so well than I am then I to give Bitcoin as that of his source of income a try and at 2020 I could invest a minimum oh damn believe me, the system was so mysteriously a favour on my side which triggered me to additionally boosten my capital because it was interested to learn a fast growing investment without pulling the muscles, no energy possessions required but was all flexible and I was also able to diversify.

Moreso, I realized an amount my teaching job can not afford me in 2 years in just 3 months of investing in the Bitcoin and I felt I have missed a lot but wasn't still something regrettable.

Nevertheless, I never lost focus to my dream and my the  beginning of 2022 I was able to launch my own private institution and the source of Bitcoin provided me with over 75% capital to actualize my dream. Congratulations 👏🎉 to me 😃💕.

At this point of time, I am a private institutional CEO same time a profitable Bitcoin investor.

Dear community members, What you don't know is really bigger than the less you think about it. And I have also learnt to giving benefits of doubt to what I know not about.
That is indeed aspiring and I am working with a notable knowledge making a writing of that of my experience into a book

Or simply don't make a rush decision when it comes to your investment plan. Do it one by one as there are unforeseen events in our life we need to consider. Without considering these possibilities, it can lead to being unable to stick to your plan.

But always remember that being unable to stick with your plan happens to everyone. No way to avoid it. To minimize the possibility of it from happening, having a stable income is a good way to start. The income that is more than enough to support your daily needs and save enough for unexpected expenses.

We are not always able to make everything according to what we have planned. Especially if we are in a condition that is not very financially stable. Sometimes we have to readjust the plans we have made because new conditions occur that we never imagined. Which makes us inevitably have to re-plan or adjust our plans again. So, to avoid changes in plans, we should first focus on building our own economic stability. Because only a stable economy can enable us to stick more firmly to the plans that have been made.

It cannot be denied that I have ever gone out of the plan I had made regarding my investments, especially in bitcoin. But at that time I had not strictly implemented a reserve or emergency fund strategy. Now, since I implemented reserve fund preparation, I have become more able to stick to every financial plan that I have prepared carefully and have planned carefully.

But unexpected things always exist in our lives and that is a normal thing in life. It's just that we have to be prepared to face situations like that which are called unexpected situations. So that is where it is important to prepare funds specifically for unexpected situations that could arise without us predicting beforehand. And remember that emergency funds must be easy to use. Examples include cash funds and the like. The point is that these funds must be ready to be used in unforeseen circumstances, which means we must be able to use them immediately as quickly as possible. Without having to wait or go through complicated processes. Because emergency situations usually don't give us much time. We have to move quickly.

investing in bitcoin will never be easy when you only have an income that is not very stable, you will indeed be enthusiastic at first to invest in bitcoin but in the end you will just give up and sell the bitcoin you have when you really need money (you will change  your plans and will only try to meet these urgent needs), therefore I strongly recommend that you first have a stable income then you will hold onto the bitcoin you have even if you encounter problems one day.

100%. I've changed from bothering myself to learning to trade to just DCA Bitcoin. I'm glad I realized early on that trading was not for me, I sucked at patiently waiting for changes and the plan for long-term trading turned into a short-term loss instead. I've never tried my hand at shorts again after that and I doubt I'd ever will again really. It probably didn't help that strategies were a thing of my dreams back then. Now DCA is kind of a simple strategy but it has so far been rather effective, I'm still on the plus side after investing when BTC dropped to 20k ish levels last time.

I have had to change my Bitcoin journey plans a couple of times.
In life generally, things do not always go according to plan.
You might be making certain plans about something, and then things beyond your control can happen and alter the plan. So it's not just about the Bitcoin journey, but in every other thing that requires planning.

What I believe is, if it's something you really want or need, don't let those unforeseen circumstances make you stop your journey. When you make a plan and something happens to alter it, fix that problem and continue the journey. Even if it takes you to start from scratch, do it.
A degree you want to get, a career you're trying to pursue, a business you're trying to build. Are you trying to save up for something? Whatever it may be, provided it's worth it, try again.

And also, when making plans, don't make ridiculously strict rules or plans. Don't make unrealistic plans.
For instance, you make $1000 a month and you're planning to save up $20,000 for one year just from your earnings. That's unrealistic. You're only going to succeed in putting yourself under unnecessary pressure. Make realistic plans.

The unexpected event is the economic situation that harsh and biting on the pocket of the man on the street which has caused reduction in the standard of living and lifestyle. The economy has not improved over a long time instead it is dropping rapidly and people can no longer continue to maintain their lifestyle and they have to reduce their taste for life.

Inflation is high and that is causing the value of fiat to depreciate, so you can't use the money meant for the home for drink with friends and that area of socialization gradually feds away. It is unfortunate how things are changing rapidly for worse.

There is a general saying that goes “Failing to plan is planning to fail”. Without planning it is more as if you don’t have directions and without direction you won’t know where you are heading to so to become successful in any aspect of life one needs to properly plan himself and stick to the plans no matter what happens because there will definitely be challenges along the line and these challenges would want to temper with your plans forcing you to make changes to them.

Definitely, we plan but we are not the master planner so unforeseen circumstances are bound to happen and when they do it will affect our plans and we will be forced to modify them. Investing in bitcoin is somewhat challenging because even when you want to set aside a certain amount on a timely basis sometimes you will be in desperate financial situation and you will now be forced to use your supposedly timely investment or you will be forced to withdraw from your portfolio. No matter what happens the most important thing is to keep investing no matter how little your investment is.