Topic: My wealth plan for next 3 years - page 3. (Read 945 times)

The small mistake you made was in the loan capital that you used and brought into the investment even though it was just the rest, but the failure of your investment can also cause total failure in the business you are running. Even though you can still manage your business well through this loan capital to make a profit and pay off all the loans in a timely manner then you can make bigger investments with your own capital, no longer with loan capital. But unfortunately you have made a small mistake that could result in a big failure in all your efforts.

If the business you are building again is based on your own capital that you collect through savings, I think it is much better than the loan capital you took before. Because with this savings capital it can give you a little space in terms of achieving profits that don't make you think about paying off the loan, because it is your own capital.

But I also appreciate the investment you've made so far in an excellent asset like Bitcoin, although it would be much better if you wanted to advance your business first before making any kind of investment. Because steps like that can also help you in terms of developing your own business, even though investment is also not a bad step for you to do at this time.

Borrowing money to invest in bitcoin, it was a plan that failed from the start. if making money in bitcoin or crypto is so easy, we all here got rich years ago, we are not here to accumulate bitcoins with our idle money.  His investment optimism and confidence in his plans are commendable, but there is always a risk in investing, and we need to consider that.  without a backup plan, that investment can throw us into crisis and cause us to lose our future through debt.

In the past, I had a rich mindset, borrowing money for business capital and the rest of the money for investing, with the hope of making a profit, but what needs to be remembered is that investment is chancy, sometimes it only works for certain people and it didn't work for me. as a result I lost money, could not pay debts and ended up my business also went bankrupt because my money was used to pay off debts. Indeed, the investment assets are still there, but the price will be a loss if I sell them now. after that I learned from experience and tried to save again.

Now I'm building a business again, with the results of my savings and the rest of my savings to invest, it works better for me to this day. In essence, use cold money to invest, both short term and long term.

Amen brother. I get that there's risk in everything and the thing that sets rich people from those who are not is who takes more risks, but at the same time you have to also remember that the risks they took were calculated, this Shortmaster is nothing but a recipe for disaster. I always advocate for making sure that you chew what you can bite, and this is just not it good sir. You're not only taking risks by investing on a volatile asset that could zero you out on a bad day, but you're also investing on it with money that in essence does not belong to you. You plan to succeed which is great and all but it seems to me that you never planned for anything that could go wrong.

Go back to the drawing board, find a better way to make use of that loan you wanna take, and then follow through with it. Just don't invest money you can't afford to lose.

If it favors you, then good luck with that. What every other member, including me, has said above is all about safety precautions because we can't predict the market and you can incur more debts as a result of trading with borrowed funds.

But since it's working for you, you can continue doing what you are doing. Just proceed with caution and don't always see it as part of the best option. Just because it works for you today doesn't mean it will also work the same way tomorrow. Don't put all your investment hope and plan on lending in order to succeed with profit.

Planning one's future might be tricky sometimes, easy to pen down but the realization can be a lot sometimes. I don't know the actual amount you plan to loan but the fact is that you must be ready to pay the money with another source of income which I hope you have, so that you won't sell off later during investment.

I imagine how OP is going to take a loan right now and start paying it back only after 3 years, once he plans to cashout his profits from BTC investment. That is a totally unrealistic plan, because as soon as he borrows money, he will have to start paying it back with interest on the following month. So the investment in BTC won't remain idle for 3 years. He will have to sell some portions of BTC (possibly even the whole investment) constantly to keep the debt under control. In my opinion this plan has more failure chances than success ones. Most advised to invest only money which already belong to you.

Things might probably not happen based on your expectation. Although 3 years is already long enough, but there are still chances that the market will move not on our plans since we know how volatile and unpredictable it is from the start. So I don’t think taking loans will work, unless if you only take a loan that you can easily pay with your job salary. But one thing is certain, if you focus on bitcoin for long term hodling, it will give you significant profits once you only sell them when the market reaches its new ATH.

If I should be sincere to you, you really do have a good plan for yourself but the risk is several times higher than the so-called profit you're aiming at. It is like doing the right thing in the wrong way and this could be for you years and years of accrued debts.
Taking loan to invest in cryptocurrency is damn risky except you have other viable means of income through which you can meet up in paying your loan serially while you hopefully wait for the next 2-3years of the results of your investments. With that your fear of indebted is somewhat under control.

The best thing we can do right now is continue to increase a lot of potential income, if we are still confused about choosing a business then it's time to do something simpler, namely investing in cryptocurrencies, if we are patient then we can make big profits.

We shouldn't focus on its positive side but we need to think about its risks too. I don't think many people made money than the losers because meme coins can just come out of the corner. There is no way to tell that they will pump and there is a big tendency that people will invest on it once it is already in the spotlight. This is when the trick is pulled out by the devs. They will now dump the coin making those recent investors lose.

OP is giving us a hint but I doubt if users here will do the same. They will only think that this is another shill made by another greedy developer or the OP was only being paid to promote it. It's normal to regret because we missed something but it's going to be tough if we are talking about meme coin. You are like playing the lottery here so your chance to win is only slim.

In life, of course we must have a long -term plan to be better, we already know the type of investment that can provide profit of up to hundreds of percent in a short time, if we don't dare to start from now then don't ever think that we can get a big profit, save money In banks only waste time because it does not make money increase.

Frankly, this sounds like a plan to get REKT to me    investing in some random shitcoins is bad for your financial health. I recommend you to stick to BTC and perhaps some 2-3 reputable shitcoins if you want to diversify but that's it. I haven't heard about AIDOGE before so I presume it's the shittiest of shitcoins. 

That's right, even if you somehow find money and buy bitcoin now, then there is no guarantee that it will grow in price. If before the end of this year, bitcoin is in flat, or even in a downtrend, then this strategy will be losing, because all this time it will be necessary to repay debts on a loan, and thus it will be necessary to reduce the share of bitcoin. It seems to me that the idea of investing with credit money is so losing that it does not even make sense to discuss it.

Im allready making profit becouse market is so volatile Im really making the profit so Im good allready and i have actual plan ready.

It's a good idea and we have to try, namely investing in cryptocurrencies, we can easily get opportunities for profit of 10x or more, as long as we can hold bitcoin then we have the opportunity to make big profits, don't panic when you see the price drop or vice versa don't be too quick to sell when the price goes up .

Well that went disastrously wrong in the first couple "sentences" and just kept getting worse. It sounds like a bunch of terrible speculation and there is nowhere near a plan involved here. You are hoping and praying, based on no factual evidence, that you'll be able to sell these assets at a higher price. Silver and gold are notoriously difficult to predict, like a lot of things in life when everyone thinks they are just bound to go up, is when they inevitably start to trend down - you are very late to that party. Luckily, nobody with a brain is going to be loaning you much money if they get a whiff of these ideas, I just hope you don't mislead whatever poor company you end up borrowing money from because you have more chance of failing than most.

I stopped reading right there, could you become successful by asking a loan and invest in this and other markets? Yes, but the risk that you are taking is massive, to begin with who is going to lend you that money? Because most likely no bank will agree to it, and if you make use of credit cards then you need to be aware of the massive interest rates they charge you, and in that case even if you were to invest all in bitcoin there is no way to be sure if the growth of bitcoin will be enough to outpace those interests you need to pay.

This is a good approach towards your investment plan. Bitcoin is the best option in my opinion. But it has its own risks, so proceed with caution. I guess choosing gold and silver with bitcoin is the strategy. Because of the price volatility of bitcoin could make it unusable if the price fall below your buying point, and you need to use it in an emergency. So it's a good decision that you also choose gold and silver for a backup plan.
I am not so sure that any alt coin could so as better as you have mentioned here. And what makes you so sure that in 2 years you could get so much in return as profits? One advice I will give you that, try to research a bit more on alts and be sure to take the right decision. In the end, it's your assets and your choice. So good luck.
I don't think this is a good idea to convert everything into bitcoin. As mentioned before, the volatility of bitcoin market could lead to loss in times rather than profits. And as the world is yet to adept to bitcoin fully, in situations you will need to convert it to fiat in order to use them in daily life. So always keep a 2nd option for situations like this. Keep both fiat and bitcoin together so you don't have to face this.
I am not so sure about choosing a stable coin as an investment plan and for a long run, it is not profitable. Also, it is centralized and could be controlled by the government or the team themselves. So I will rather choose BTC if I have to do it.

Although those are my own opinion, so if you can execute your plan perfectly and if it could give you a profit as you said, then good luck for that.

Still, even if it’s zero interest, I would not advise anyone to take a loan and invest in bitcoin. Though bitcoin investment can be a profitable one, but it can also give you life changing losses especially if you are not patient and skilled enough when it comes to highly volatile investments. I believe inflation in the next years will be more inevitable, but always take caution when using your money, as you can only invest on what you can afford to lose.