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Topic: Making wise use of your crypto finance - page 2. (Read 275 times)

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Activity: 266
Merit: 187
Bitcoin!!
January 30, 2024, 02:50:51 AM
#5
Haha... Saving 80% , OP thinks it is that easy to just put in such percentage. Most youths are even having more responsibility now than their old age due to the current inflation and everyone is trying as much to stabilize in their wants and needs. Before resolving some issues, keeping that for household expenses and setting aside emergency funds, little percentage of the money will be left. So, it is best we consider investing what we can be able to do without and not going back to alter our investment portfolio .

Sure, that's what makes us investors, being able to think critically before making investment decisions. That is, if you are willing to make profits and not like the second example Samlucky gave. A foolish investment, investing without a concrete plan, those who tend to fall under this category usually go to and fro without fulfilling any benefiting investment return. If you make 80% investment off your income without having an emergency fund, you will definitely go back to sell some of those coins. And I major characteristic  of an investor is discipline. Altering that investment might be the last of it, because indiscipline has a way of rebranding our thinking to keep going back to your investment should in case any issues raises.
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Activity: 224
Merit: 195
January 30, 2024, 02:31:47 AM
#4
I enjoyed reading this post until the part you mentioned investing upto 80% of you outcome. These days with enough responsibility I don't think Investing 80% would be a good idea. Sue to the current increase in dollar inflation is hitting hard and the only way to survive is to reduce excessive spending and buy the needs while you ignore lots of wants, and even with that knowledge, you find out that 20% is very small to meet up those needs. So I advise those who are willing to invest to 10-20% of their income first for holding, and if they feel very  comfortable with that, they could increase it until they feel fulfilled.
Haha... Saving 80% , OP thinks it is that easy to just put in such percentage. Most youths are even having more responsibility now than their old age due to the current inflation and everyone is trying as much to stabilize in their wants and needs. Before resolving some issues, keeping that for household expenses and setting aside emergency funds, little percentage of the money will be left. So, it is best we consider investing what we can be able to do without and not going back to alter our investment portfolio .
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Activity: 280
Merit: 205
The great city of God 🔥
January 29, 2024, 09:51:07 PM
#3
I enjoyed reading this post until the part you mentioned investing upto 80% of you outcome. These days with enough responsibility I don't think Investing 80% would be a good idea. Sue to the current increase in dollar inflation is hitting hard and the only way to survive is to reduce excessive spending and buy the needs while you ignore lots of wants, and even with that knowledge, you find out that 20% is very small to meet up those needs. So I advise those who are willing to invest to 10-20% of their income first for holding, and if they feel very  comfortable with that, they could increase it until they feel fulfilled.
Indeed you have spoken well that was what I was about to say . In as much as bitcoin investment is concerned, there is no need investing with pressure as if you where being forced. Investing should be don in a manner that you would invest and you wouldn't even notice that you aslre investing because you didn't invest out of point.  We have 2 type of investment.

1. Wise investment: the wise investment is when you invest on planing which might never affect your investment or DCA journey of bitcoin.

2. Lame or Foolish investment: sorry if I use the word foolish, but I see it as the perfect word for this explanation. Because when someone invest the amount that would affect his/her investment strategy it is no longer a wise investment plan. I think whenever we talk about Investment, we should think critically on how to invest according to how we can accumulate Bitcoin, take care of responsibility and also have some reserved fund which will not allow us to spend it due to minimal problems. emagin investing %80 of your monthly income into Bitcoin, how would you be able to cope with %20 for family and reserved? So if you check it, its not a wise decision. Like I said before please to no offence. if I call it a foolish investment not directly saying to you but just an explanation.
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Activity: 266
Merit: 187
Bitcoin!!
January 29, 2024, 07:53:17 PM
#2
I enjoyed reading this post until the part you mentioned investing upto 80% of you outcome. These days with enough responsibility I don't think Investing 80% would be a good idea. Sue to the current increase in dollar inflation is hitting hard and the only way to survive is to reduce excessive spending and buy the needs while you ignore lots of wants, and even with that knowledge, you find out that 20% is very small to meet up those needs. So I advise those who are willing to invest to 10-20% of their income first for holding, and if they feel very  comfortable with that, they could increase it until they feel fulfilled.
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Activity: 95
Merit: 22
January 29, 2024, 05:36:18 PM
#1
The crypto currencies today are now the source of wealth to somany young people. It Is very pleasing this days to see young people making money at their young age, we can see that their is alot of changes in the society since young people start making money for themselves online.

But the question to be answered here is, Do everyone who earns from this crypto use their finance purposefully.
Not everyone at their young age have the mindset to plan for their future many young people have the mindset that their is still much time for them to do whatever they wish but that is not a wise idea you need to invest for your future.

Someone gave me a parable saying, Don't live in comfort in your youthful age and suffer when you are old rather invest and suffer in your youthful age to prepare for your old age. Young people should not only go after enjoyment and lavishing but also invest 80% of your outcome and you won't regret it.

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