Topic: My wealth plan for next 3 years (Read 922 times)

I also think the same as you that it is better for us to avoid investing from borrowed money. Because investing in any field has its own risks. And when we take risks, we must be prepared with all the risks taken. So that the money used must also be cold money and not the result of a loan.

Investing in altcoins is very high risk. especially if it's a shitcoin whose price could suddenly be destroyed in an instant. when the dev withdraws the liquidity of the token he created. Shitcoins are just hit and run. we must get in and leave quickly. Because Shitcoin only relies on hype. And hype is always temporary.

But Op seems to have invested in Bitcoin. Because at the end of his writing he said that he would only have bitcoin.

I understand what you mean, and indeed it must also be carefully thought out so as not to disrupt the cash flow that we have planned at the beginning. But from what I understand from @Bloodseekers post is that he is trying to compare between using borrowed money and savings money, and in my opinion it is still better than using borrowed money.

But the main needs for us to live should always be a priority, I agree with that. We can't put aside our primary needs for an investment, and again I would say that is something that is not wise to do.

We have to be able to manage the order from A to Z, I mean we have to be able to put things in place. We can invest as long as our primary needs are met.

But it should also be noted that investing with savings is correct? I mean, if it's savings for the near future or for emergencies, don't use them for investments. Invest only with idle money that we do not need and if we lose it, it will not affect us. Do not use savings to invest, it is as risky as borrowing money to invest because when there are no savings and you need money, you will also have to borrow. And in my opinion, the expenses for life needs and savings should be what we need to have before thinking of investment.

Using borrowed money to invest is not a wise choice. Let alone investing, even to make ends meet I think it should be avoided, unless there is no other choice but to take out a loan.
We cannot look for shortcuts to invest, and indeed when investing with borrowed money it is a shortcut, and it can be said that someone who does that is someone who does not think long about the situation they might encounter in the future.

I wouldn't recommend that at all, if we don't have the money for investment yet, then it's better to be a little late to raise the money for us to invest.

I want to know how do you complete the monthly fee for the loan? And why are you so sure that by taking a loan, you will be able to make a profit. I am the type of person who is not too rigid in interpreting loans, but quite selective in taking opportunities like this if you don't have a mature plan because in the worst conditions a loan will only put you in new problems.

Damn and I think you will be fully placing money in bitcoin from the loan. How can you be sure AIDOGE can make 1000X profit after two years, is there nothing more fundamental. If not, forget about the loan and create another, more responsible portion for you to control independently. LOL

It could be that the plans that you have neatly arranged will automatically fall apart when your trust is in a coin that has no potential to be used as an investment reference. Looking at the history of bitcoin, of course it will be very profitable in the next 2-3 years or it could be faster than that duration. I agree if this is fully implemented in bitcoin rather than trying to speculate with other coins that are not fundamental.

Try to analyze further how many coins are dead and have no place in the market. Forget the loan if you do not have a specific plan to get out of the worst speculation that will happen, it is not recommended to take out a loan to fulfill your investment commitments if you do not have a backup plan regarding monthly expenses. You will never know about the risks that will occur when the plan doesn't go well, then the other worst conditions of psychology and panic will destroy all the plans that you have neatly arranged.

Great plan.. and I also love your bravery to take on the risk, but some risks aren't smart because one cannot determine the future. Hey man, the isn't me discouraging you at all.
You know, I always thought what people ( especially my accounting lecturer) meant by, the smartest business people are those who use other people's Money to run theimoneyiness cause they make money from other people's money. And in my head, it was like... "How? What if you run out of business, or something goes wrong?  You'd be poorer than you were before you started."
But later on, after reading some books, I discovered that what they meant was that you should sell shares and take loan capital.. that's how you earn others' money.
Now.. I know this isn't some kind of business where you sell shares and take loans ... But I'm emphasizing the knowledge that helped me. Investments especially in Bitcoin are tricky and risky. Before you make plans and jump right into them... You should understand not just how Bitcoin works, but how the economy does. And I also recommend you have a reserve of savings so you'd be able to pay off those whales you're planning on borrowing from.

Choosing to invest with savings I think is a good choice rather than looking for a loan to make an investment because investing with borrowed money will certainly get into trouble if we can't pay off the loan we take. I totally agree with you, those who invest with their borrowed money are people who only hear people talk about investing without a good understanding of all the risks that can occur in their investment, they only hear the good results without knowing the risks of losses that can occur in investing.

That's what I want to ask people who are intending to borrow money to invest. Why don't we work harder, save more to invest? Why do we always think of borrowing money to invest when there is no guarantee that the investment will yield returns without risk? I think those people are mostly lazy people and they don't want to work but want to be rich. Or they don't know anything about investing but only invest on the advice of others, so they don't anticipate the risk when investing by borrowing money.

If you have invested in plan loans then you might take it wrong, as you need to understand the volatility in the market which can cause you to lose money. So if you invest then definitely invest with your earning money, it can be good for your future I think. If you have 3 years of experience in Bitcoin then you can definitely profit but if you invest with loan it can be risky for you. So if you bring money in installments and invest it then you will be in loss when you don't get profit, so you always have to take all risk averse decision. And I think it would be wise for you to analyze everything and invest later so that you don't face losses in the future.

But there is no success without trade-offs and opportunities will not stand still waiting for you to seize. I strongly oppose anyone offering advice on borrowing money to invest if he is unemployed. But if he has a steady income and for some reason can't collect money to invest, then borrowing money is not too bad. For me, as long as he is sure he can repay the loan with other income, getting a loan is not too big a deal.

Borrowing money will make you more stressed or motivate you to work harder in life is due to the way you see and accept it. Not everyone will be stressed and depressed when borrowing money for business or investment. Many people use that as a motivation to not be lazy.

I completely agree with you. Instead of taking a loan or borrowing money just to invest (with the risk of it not even gaining profit), it is far better to work hard, find more sources of income, and use the extra money gotten from those to invest. That way no matter what the outcome of the investment is you wouldn't be held responsible for any loan or debts, as it is your own money. You wouldn't have to deal with additional financial problems and responsibilities aside from the investment you lost.

I greatly agree, loaning money to buy shitcoins is like gambling.  I would support the idea if the money loaned is to be invested on Bitcoin because we know the halving is nearing and the possiblity of breaking ATH is just some years away.


This is a much better option, instead of paying interest, if we work hard and look for side jobs, we might find ourselves getting better in financial status.  By finding an additional source of income, the incoming funds can be used to invest in any investment ventures we plan and it also saves us from paying debt + interest that can possibly put us in a dire situation.

From my perspective, although it can be an effective plan, it seems to me that in this specific case it is only projected on unreliable bases of optimism or positivism with lots of euphoria, you are simply assuring that the crypto market will have an upward trend and although Of course, this is the scenario that we all want, even a volatile market that can decrease and this does not mean that it is bad, the downward trends are also profitable, but particularly here we bet on the best of the growth scenarios for this and it may not happen like that, i think you should make your projections better and have a broader panorama of possibilities contemplated..

Every investment has risks. Taking these risks doesn't always mean you will win. Investing by taking a loan is very dangerous. It is dangerous even if you have a regular income. Your investment may fail. You have to pay off your loan whether your investment is successful or not. This stresses you out and causes you to make more mistakes.

There is no rule for everyone to invest. Not everyone can invest. The first purpose of the person who is not financially capable is to increase his income. After increasing his income, he should invest only if he has money left after meeting his needs.

If that loan is just to invest in bitcoin and he can guarantee that he will be able to repay the loan even if the bitcoin investment is not profitable. That can be considered, and he can borrow so he doesn't miss the opportunity with bitcoin while it's still pretty cheap. But borrowing money just to invest in shitcoins is not only a bad idea but also a stupid thought. The coins have no future other than short-term pumping and dumping. This is the worst idea I have heard since investing in bitcoin.

When risk is faced with risk it will have a negative impact on the individual who takes the loan. Borrowed money will pose a risk when it cannot pay off the loan within a predetermined timeframe, whereas Cryptocurrency investment has no guarantee of profit and cannot be determined when profit can be obtained. The risk of loss needs to be considered before getting caught up in activities that are not necessarily profitable. If you really feel up to the risk, you can invest in coins that have proven quality on the market.

I think it's a bad idea to borrow loan and invest in cryptocurrency especially shit coins like the AIDOGE you mentioned. I believe you've been in the crypto space for a while and you should be familiar with the term pump and dump. These projects are created by developers to enrich their pockets, they lack utility and there's no guarantee that whatever shitcoin you choose to invest would make a x1000 return.

My advice, don't take the loan to invest any shitcoin rather work hard. Whatever amount you are able to save you can use it to buy Bitcoin. Take a DCA approach and be accumulating your Bitcoin holding gradually.

Indeed, the risk will be greater when investing with capital from a loan, but sometimes this has to be done for some people who have no capital, rather than nothing, so I think it's not too bad for people who take this very bold step for the betterment of their life or change. life for profit.
Regardless of the higher level of risk and other bad things that will happen.
And it must also be underlined that the person taking the loan is out of compulsion, and they want to do something profitable, so there is no other way but to take a loan.
And also before doing anything, it must be accompanied by research, knowledge and clear calculations for an investment or other.

The option of taking a loan to invest is a very different option from people who use their own capital to invest, even though what they are doing is the same for making investments. But in general, those who take out a loan to get into investing will feel more uneasy when they haven't seen a return on the investment they've made.

So it's better if the work related to the investment is not tied to a loan in any form because that option still looks bad for everyone, because the designation of the loan is for businesses that are already running with a maximum level of sales. Not for work where the level of profit is still unknown as for investment, and if someone makes an investment with loan capital, I think he will face excessive risk for himself because loans are more suitable in the hands of business people whose benefits are already more real.

I will not advise you to use loan to make your dreams come through OP, you have a good plan but using loan to invest in those projects will frustrate your plan because you are not the one controlling the price of those projects you mentioned, what if the price remain low till two or three years which you agree to pay back the loan, what will you do at the moment. Many investors have came with good plan like this so that they can overcome inflation that is affecting their country but they gain good advice from this community that made them to work hard to save some money, and invest the money only in Bitcoin because there is a hope they can start small now and become a millionaires tomorrow.