My wealth plan for next 3 years - page 8.

Gozie51

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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.

For me this is just like the wish of the inexperienced investor who only thinks of how to make profit from his investment and never thought of the challenges, the economic challenges that won't allow you breath out those wishful thinking you had earlier. If you want to borrow to invest in a volatile market, what is your shock absorber when you are not making profit?

If you talk of getting a loan , do you also talk of interest rate on the loan depending on where you got the loan. Of course it is difficult to get loan from family to invest in cryptocurrency because most families believe the loan will not be profitable in the business, that the money will disappear in the market. If you are getting a third party loan or through the bank then you can be sure to add 10%-11% interest on the loan. Add such interest up and know what percentage margin in profit that you are expecting before repayment. Take the advise that you have not made a real visibility study on your 3 years plan if you want to rely on loan for it, you are better with saving up the money than going for loan.

eightdots

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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.

You should also consider the possibility that your plans might not go your way. Many people have experienced the losses of buying Bitcoin through credit. Are you sure about this, you should think again. Not all your plans are likely to work as they are. This is true for all of us. You still managed to come up with a plan. Now reconsider your plan and listen to the topics mentioned in the comments. This is my humble suggestion to you.

Of course, not all comments may be correct, but you can review and analyze within the framework of your own logic. We may need to go over our plans when the economy is not doing well.

Zaguru12

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

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.

It’s not entirely bad to have majority of one’s holdings in bitcoin because of the advantages it has over other assets or currencies. But even a bitcoin maximalist Woolf advise you to have some funds in fiat because of daily expenses and unplanned expenses too. Going to bitcoin to every time when one needs funds to spend doesn’t seems right to me because there are days and even weeks where bitcoin would be dumping due to its volatility mostly during the bearish period and it is bad to sell at this particular period because of the losses it incurs.

Quote

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.

Even though USDC is regarded a stable coin the recent happenings around like the depegging is something you need to watch out for. I think it’s too much of a risk to consider USDC an investment asset for the future.

pooya87

legendary

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There are loads of problems with this plan.

First is the fact that you are literary investing in a shitcoin hoping for a pump, in a long term no less! Shitcoins have no future, the best outcome is a pump in short term where you should get out of them immediately if that pump happened. And better yet not enter until the pump starts.

Secondly the economy is in a very weird situation starting from last year and will continue being in this state for the foreseeable future. This means this type of investment (taking loan and investing in cryptocurrencies) is extremely high risk specially since the altcoin market will be dumped hard multiple times in times like this.

Finally the loan itself is the worst idea ever because the governments that are struggling to keep the inflation low are and will continue increasing interest rates and that eats up into that little possible profit you were hoping to make.
As they say never invest what you can't afford to lose.

superman184

full member

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Quote from: Shortmaster on May 29, 2023, 09:18:20 AM

Risky maybe for you not for me biggest problem with people is that you don't want to learn how the system works.
Learn how it works it's script and learn the script.

It would be great if you could plan for the next three years from now and if you could learn a script for something that would give you an advantage, I don't think it hurts for you to keep trying even though other people may not have the ability to try it. But what you need to remember one thing is that you can plan as well as possible, but what determines whether your path to wealth is good or bad is the condition of this world.

Because no one will know how the world conditions, the economy, technological developments and also global market conditions will be in the coming year, although good planning is really needed for everyone who wants to rise to be rich in their life. And one more thing, if you are really not afraid of risks, I think you are a very brave person, but don't be too desperate to do something before you have actually researched and also studied any work system.

gunhell16

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Activity: 1666

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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.

Whatever your plans are to hold bitcoin and other cryptocurrencies for a few years no one on this forum can tell you that you are doing it wrong. Because it's your money in the first place. And maybe to others, they will say that your way is not good, but even so, if you borrow money to buy Bitcoin and other cryptos there is no problem as long as it does not cause problems for you.

It's hard to get a loan but you don't have a source from which you can get the money to pay off the loan, right, but if you have a job and a business that you're busy with, I don't see a problem with that as long as you can manage it properly, go ahead. just the important thing is that you know the consequences of the decision you will make.

Yatsan

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Leading Crypto Sports Betting & Casino Platform

Having a plan is good enough than to not have ideas at all. But investment is not as simple as you think. There are risks involved especially in Bitcoin but also with gold and other assets; nothing is assured. For a very volatile asset, it would be wrong to expect huge and instant profit. Also, it would depend on the amount you would be invest; higher risk leads to high returns but would also mean bigger risk if ever things won't go as expected. Taking a loan would be a good idea but it does depend to where would you use it As far as I have known, it would be better to use it with properties in particular with field of leasing in order to generate profit continuously unlike with other assets which would require you to wait for a better market behavior.

Aanuoluwatofunmi

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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.

Why do you have to take loan in other to invest in bitcoin, the best way to acquire bitcoin is by earning it, try to be creative and engage rendering valuable services where necessary or needed and receive your payment in bitcoin instead of going on loan and be in debt just because you wanted to invest.

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.

Your plan is a good thing to hear but not an ideal path to take, for you to choose bitcoin as your investment plan is one of the best decisions to make in financial investment because bitcoin is very profitable if you can hodl, also making diversification is not bad as well, but what is the essence of your investment if later the profits earned were used to make loan settlement of debts, what's then your profits.

Shortmaster

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Quote from: huu78 on May 29, 2023, 08:45:09 AM

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.

I totally agree with you, moreover dicrypto investment is very risky and has high volatility, while installments and interest must be paid according to the due date, maybe this case will work for 1 out of 10 people, the rest may have bad luck.

Risky maybe for you not for me biggest problem with people is that you don't want to learn how the system works.
Learn how it works it's script and learn the script.

huu78

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Undeads.com - P2E Runner Game

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.

I totally agree with you, moreover dicrypto investment is very risky and has high volatility, while installments and interest must be paid according to the due date, maybe this case will work for 1 out of 10 people, the rest may have bad luck.

Iroh

sr. member

Activity: 616

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You’re freshly starting out on your wealth plan which would last three years. Having little/no capital of your own, you resort naturally to borrowing from the bank. I think that’s your first hiccup. Borrowing money from the bank for investment purposes which could or could not give you a good profits after a while is not ideal. The interest accrued would be accumulating while you wait for the profit from your investments that may never come. In this scenario, one thing’s for sure, the money owed to the bank would have to be paid irrespective of you having a profit or not.

If you want to hold all of your money in bitcoin, good for you. But knowing amongst your daily expenses, you might have to use fiat to pay for whatever, why hold all your money in bitcoin.
Personally, I wouldn’t put the whole of my money on one particular asset. It’s just feel right.

DrBeer

legendary

Activity: 3752

Merit: 1864

Conceptually a good plan, but there are nuances:
1. Big risk - loans, their security for this period
2. No less risk - counting on "guaranteed growth of cryptocurrencies"
3. Lack of an airbag (I will transfer all fiat to crypto)

From the good: diversification (crypto, gold, silver). But I would still keep some of it in currency or currencies. There are situations when you cannot use crypto/gold/silver.

Risk management is a very rewarding process, and unless you live in a very stable country, this is a must-have!

In any case - you success and good luck! And profit

Ojima-ojo

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Note, it is not advisable to take a loan to buy Bitcoin, this may be a suicide mission because of what will happen if Bitcoin goes opposite your predictions because there is no certainty when the bull run will happen so what if Bitcoin didn't meet your price predictions?

The only way you can take such loans to buy Bitcoin is when the loan comes with zero interest rates for the long term, even at you still have Bitcoin volatility to consider.

Shortmaster

jr. member

Activity: 87

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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.

I see 3 years max but i'll start getting out from the assets in 2 years while fiat falling i'll dca fiat currencies becouse after 3 years fiat value goes super high so it's good to hold fiat that time.

The bull run can grow capital in the next few months so much that i can fully pay back the loan.

Nwada001

hero member

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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.

Sayeds56

copper member

Activity: 1260

Merit: 698

Eloncoin.org - Mars, here we come!

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.

Investing in Bitcoin with long strategy spanning 3 years is a good and prudent approach, provided you have sufficient source of incomes to finance your monthly installments of loan. However as we are all well aware of that all financial markets are volatile and in particular Bitcoin which can potentially fall to the extent of 80%, as shown in its historical trends. Therefore , success of your plan will largely depend on your ability to continue funding your loan installments and Bitcoin market market movement in line with your expectation within next 3 years. It would be wise to carefully consider all risk factors before making investment decision.

Shortmaster

jr. member

Activity: 87

Merit: 4

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.

Topic: My wealth plan for next 3 years - page 8. (Read 922 times)