My wealth plan for next 3 years - page 3.

Jatiluhung

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Quote from: Kadal Ijo on June 05, 2023, 06:37:03 AM

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.

Well, the main focus that we have to think about and plan for is indeed about increasing the amount of income we can generate. Because the more income we can generate, the easier it will be for us to save more money in savings and also in long-term investments.

Currently the crypto market is also in a correction condition after a lot of circulating fud. And now might be the right time to accumulate some crypto assets for us to save until the next bull market arrives. and I think the next 3 years the prices of crypto assets can increase quite high, especially Bitcoin.

Fara Chan

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Quote from: bbigtart on June 11, 2023, 06:58:14 PM

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.

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.

Quote

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.

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.

Texac

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Quote from: uneng on June 05, 2023, 02:07:48 PM

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.

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.

bbigtart

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Quote from: ?? on ??

I find borrowing money to invest in crypto assets a risky strategy. Because taking on debt to invest can amplify both gains and losses, If the market works well, it can lead to substantial profits. However, if the market goes against your expectations, it can lead to significant losses, and you may have difficulty repaying your debt. Anyway, keep in mind that no investment strategy is guaranteed, and there is always a degree of uncertainty and risk involved. So good luck

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.

Casdinyard

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Quote from: Nwada001 on May 29, 2023, 05:59:16 AM

Quote from: Shortmaster on May 29, 2023, 04:56:55 AM

I will invest in btc,gold,silver becouse money is now expensive so when i borrow now the bull run Will make profit i make profit and from the profit i make money for myself and i can Pay the % to lender.

As an economist, I don't think you really map out your plans very well; all I could possibly imagine from the few things I understood from your content is more debt. Borrowing money to invest in crypto currency without having a primary source of income is something that's highly discouraged because it can endanger you and put you into more debt. When doing your calculation, did you not look at the negative side of investment? Your analysis is actually not complete if you don't do a proper calculation of risk.

How long do you actually think that the person who lends you the money can wait for you to pay it back without you incurring more debt to your head, and the lender might actually sell off your collateral if you don't meet up and become a loan defaulter?
I will sincerely advise you never to take a loan from anyone just to invest in crypto currency with the hope of paying it back with your profit made from the investment. It's actually a very bad investment strategy; it might work for others, but the chances of it failing for you are very high.

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.

Nwada001

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Quote from: Shortmaster on June 03, 2023, 01:21:37 PM

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

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.

hannahB4

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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.

uneng

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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.

Botnake

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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.

Wildwest

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Quote from: ?? on ??

I find borrowing money to invest in crypto assets a risky strategy. Because taking on debt to invest can amplify both gains and losses, If the market works well, it can lead to substantial profits. However, if the market goes against your expectations, it can lead to significant losses, and you may have difficulty repaying your debt. Anyway, keep in mind that no investment strategy is guaranteed, and there is always a degree of uncertainty and risk involved. So good luck

But nowadays many people who borrow money to invest and do business but they can always pay according to the agreement that has been set, although we all know that the risk is very big but people who are desperate they do not care to take loans until some of them are in debt because what they plan is not in accordance with expectations, So this all depends on each of us in taking an action to borrow money with the aim of investing.

Lida93

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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.

Kadal Ijo

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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.

jaberwock

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Quote from: passwordnow on May 31, 2023, 09:23:21 PM

Quote from: Shortmaster on May 31, 2023, 08:14:52 AM

Safemoon pepe...and now aidoge many investors Made good Money with pepe i missed pepe so i take aidoge

It's no doubt that many have made a lot of money from those meme coins. And if you're hoping that something the same with aidoge that you're trying to give us an idea that it is what you're aiming for, wish you luck. With that idea of missing and regretting that you've never been into those mooning meme coins might even get you to actual lose.

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.

Bitcoin2009

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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.

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Quote from: Shortmaster on May 29, 2023, 04:56:55 AM

My wealth plan for next 3 years

I will take loans becouse fiat value is high so usd value ATH.
I will invest in btc,gold,silver becouse money is now expensive so when i borrow now the bull run Will make profit i make profit and from the profit i make money for myself and i can Pay the % to lender.
Off course also i'll buy AIDOGE coin becouse 1000x i will make with this coin after 2 years.
The world economy right now is like some shtcoin pumping and when everybody short the whales Will pump it more to make you FOMO in exacly after 2 years.

The whales Are fed, ws,ecb,boe and other big Banks the world is like some shtcoin what the whales keep pumping until everybody Will lose their guard and Will buy the top becouse of FOMO.

I have 2-3 years to get out of the assets but right now i'll get rid of money i'll invest all the money becouse i know upcoming inflation will eat all the value of money.
In the next 2 -3 years my money only Will be bitcoin If i want to buy bread and Milk i just convert btc to fiat other then that not smart to hold any fiat currency.

And off course after one year i start buying by DCA USDC becouse USDC gona be world reserve currency so off course i'll invest in this early.

Frankly, this sounds like a plan to get REKT to me Grin

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. Cool

Altryist

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Quote from: South Park on June 02, 2023, 04:58:38 PM

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.

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.

Shortmaster

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Quote from: ?? on ??

I find borrowing money to invest in crypto assets a risky strategy. Because taking on debt to invest can amplify both gains and losses, If the market works well, it can lead to substantial profits. However, if the market goes against your expectations, it can lead to significant losses, and you may have difficulty repaying your debt. Anyway, keep in mind that no investment strategy is guaranteed, and there is always a degree of uncertainty and risk involved. So good luck

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

Mario Yamasaki

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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 .

Fortify

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Quote from: Shortmaster on May 29, 2023, 04:56:55 AM

My wealth plan for next 3 years

I will take loans becouse fiat value is high so usd value ATH.
I will invest in btc,gold,silver becouse money is now expensive so when i borrow now the bull run Will make profit i make profit and from the profit i make money for myself and i can Pay the % to lender.
Off course also i'll buy AIDOGE coin becouse 1000x i will make with this coin after 2 years.
The world economy right now is like some shtcoin pumping and when everybody short the whales Will pump it more to make you FOMO in exacly after 2 years.

The whales Are fed, ws,ecb,boe and other big Banks the world is like some shtcoin what the whales keep pumping until everybody Will lose their guard and Will buy the top becouse of FOMO.

I have 2-3 years to get out of the assets but right now i'll get rid of money i'll invest all the money becouse i know upcoming inflation will eat all the value of money.
In the next 2 -3 years my money only Will be bitcoin If i want to buy bread and Milk i just convert btc to fiat other then that not smart to hold any fiat currency.

And off course after one year i start buying by DCA USDC becouse USDC gona be world reserve currency so off course i'll invest in this early.

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.

South Park

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Quote from: Shortmaster on May 29, 2023, 04:56:55 AM

My wealth plan for next 3 years

I will take loans becouse fiat value is high so usd value ATH.

snip

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.

Topic: My wealth plan for next 3 years - page 3. (Read 934 times)