Topic: Prepare for the life when you get old - page 5. (Read 2315 times)

Last week, I met one of my uncles-in-law who has been a sailor for many years. In the past decade, he has been out of town and travelling all over the world to make a living. He has two children to raise and being a father who is always absent from their growing-up, he somehow does not know how to get along with his kids once he is back home once a year. In this transition period, usually like one month or two, he will find him some odd jobs  to make money to support his family. Unfortunately in this economic downturn, it is very difficult to find a job so he is quite upset now. Staying at home means no income and this makes my aunt very anxious. This uncle is in mid fifties and he is one of the most diligient people I've ever known. Ever since he was young, he would always keep busy doing all kinds of jobs to make money. I have to say that he made some savings for some years but it was most used up by sending his daughter to study overseas. Under today's economic condition, he has to wait more time to be assigned onboard and it is said his salary will be slashed big next time he has an offer. Well, to make a living, he has to accept that. He used to be a happy-go-lucky guy and always have a smile every day, last week I saw him, he was more like silent and upset.

As he ages, the window for him is closing. I never saw him encounter any financial problem because he has been diligient and frugal. This meet-up has completely changed my mind. Even people like him are struggling financially and we'd better prepare a comfortable life for the old version of ourselves. This uncle is still doing okay although with some struggles but I am sure there are millions who are broke and wish they could have made and saved more money when they were young. Always plan for the future. What do you think ?

Discipline, discipline, discipline... the financial mantra, right? But come on, who truly relishes penny-pinching? Yeah, future planning is vital, but what about the here and now? Can't we indulge without remorse? Partners and finances? A different beast. A money-wise partner? Fantastic. But what if they're not? Do we dump our ambitions, surrender to their spending?

Navigating relationship finances is like solving a cryptic puzzle. Compromise, dialogue, and boatloads of patience are needed. But remember, your financial aims matter as much as your partner's. Find that equilibrium, folks. Believe me

You cant go wrong on holding top 10 coins in the current market as of today, 3 or 4 might be replaced or dethroned but at least you do still have 6 or even half which it would really be still that worth on holding for long term but of course when you are still on young age or lets say 30+ and dont have family or even earlier which it would be ideal on saving up as much as you could and holding out for long term.

You cant go wrong on holding top 10 coins in the current market as of today, 3 or 4 might be replaced or dethroned but at least you do still have 6 or even half which it would really be still that worth on holding for long term but of course when you are still on young age or lets say 30+ and dont have family or even earlier which it would be ideal on saving up as much as you could and holding out for long term.
If you are that something plays around 40+ then its still not that too late because 10 years run in crypto space might really be giving out the chance for you to have a financially free kind of living or status.

On the time that you do gets old, then you wont really be making yourself that getting worried if ever your children would be taking care of you or not.In some countries then if you do have that retirement then you could make yourself placed on a shelter but in some 3rd world countries on which it is most likely you would really be that definitely just ignored and rejected.
If you do live up on these places then its better to have advanced plans on the time you do get old.

Many people understand that they will grow old but do not have good preparation for welcoming old age, they are busy with hobbies or pleasures that make money easy to lose, for example someone who likes to replace new cars then you can be sure that old age will be full of regrets, it's better to buy things of continuing value such as land, or property.

if you happen to hodl a lot of alts, make sure that you really keep up with them, in terms of developments and other things. because that's true, even if it is in the top 10 today, it can go bad for them in the future. which means, they can be abandoned by their respective devs making them go down in crypto's history. so yeah, there's no problem holding a lot of alts but you should not wait for years before you check them out again. because that would be a disaster in your portfolio. also better invest in some tangible assets that you can afford. don't go all in in crypto.

We need to be always prepared, because we will surely going old and if we don't have savings we will be in a big problem going old is very expensive you will suffer a lot of sickness because of our age we need a lot of money for the medicine and vitamins, we always need savings even now because we don't know when emergency comes.

if you happen to hodl a lot of alts, make sure that you really keep up with them, in terms of developments and other things.

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so yeah, there's no problem holding a lot of alts but you should not wait for years before you check them out again.

Now I'm over 30 years old and I have to try my best to have passive income, cryptocurrencies are a way that I think can lead me to get big profits, I'm patient and save a lot of altcoins assets because I'm sure there are at least 3 altcoins that I save can go up 100x or more in the next 3 years, besides crypto of course I have bought a rice field which I use to grow vegetables so I can get an income every 2 months.

Head's up sir, remember you said the below 👇 quote.

I am not totally against anyone who decides to invest in altcoins, though; as long as they know what they are doing, there is no problem. You should also at least have some backup plans so that in case your dream altcoin doesn't really do 100x like you expect, you could still have some other plans working out perfectly for you. Gradually accumulating Bitcoin on a DCA would also not be a bad idea (note: not an investment idea). I have seen and also had experience with some altcoins that, after 3 years, are not worth anything again; they are just shitcoins. Sometimes we can't really tell which altcoins have the possibility of getting pumped or not.

Now I'm over 30 years old and I have to try my best to have passive income, cryptocurrencies are a way that I think can lead me to get big profits, I'm patient and save a lot of altcoins assets because I'm sure there are at least 3 altcoins that I save can go up 100x or more in the next 3 years, besides crypto of course I have bought a rice field which I use to grow vegetables so I can get an income every 2 months.

Many people think that hold top 10 is the best decision, but we have to remember that a year ago LUNA was in top 10 then went bankrupt, i think there is no guarantee that hold top 10 is the best decision

Now I'm over 30 years old and I have to try my best to have passive income, cryptocurrencies are a way that I think can lead me to get big profits, I'm patient and save a lot of altcoins assets because I'm sure there are at least 3 altcoins that I save can go up 100x or more in the next 3 years, besides crypto,, of course I have bought a rice field which I use to grow vegetables so I can get an income every 2 months.

Yeah right. without discipline in managing finances then everything will not work. Because the important point is when we have made a plan, and then we carry out the plan with high discipline.

And actually if we are married, the role of our partner in supporting us in financial management is also an important thing that can be relied on. But that applies if our partner also has the same thoughts about planning for old age. But if our partner is not good at saving then sometimes it can be a problem for us. because when we save with all our might but our partner doesn't do it. it will also be difficult for us to be disciplined and successful. The point is to start by trying to align our intentions and goals with our partner so that they are the same. or we have to teach them how important it is to prepare early on financial matters for our old age.

I'm not really sure who's the wrong in this situation and who should I blame, but few things in order to make you survive and doesn't suffer financial problem are:

1. Make sure you don't save your money, but invest on few commodities e.g. Bitcoin, gold, stock, real estate etc.
2. Have a small business in your home, it's better if you have an autopilot business where you don't need to work anymore.
3. Teach your children how to use money in a correctly way, don't overspend and use it for luxury lifestyle.

When you're still 25-40 years old, it might be the peak of your career, don't think you can work until you're death because an old people can't compete with fresh graduate young people.

Now I'm over 30 years old and I have to try my best to have passive income, cryptocurrencies are a way that I think can lead me to get big profits, I'm patient and save a lot of altcoins assets because I'm sure there are at least 3 altcoins that I save can go up 100x or more in the next 3 years, besides crypto of course I have bought a rice field which I use to grow vegetables so I can get an income every 2 months.

I'm doing everything that can be a sidelines just to save money and support my family. Even if the body hurts, it's okay because all the hard work has a good destination.
I agree that we should completely do all of that ourselves. Because that will help to realize savings for the future. But you are right that without financial discipline it will not work either.

Now I'm over 30 years old and I have to try my best to have passive income, cryptocurrencies are a way that I think can lead me to get big profits, I'm patient and save a lot of altcoins assets because I'm sure there are at least 3 altcoins that I save can go up 100x or more in the next 3 years, besides crypto of course I have bought a rice field which I use to grow vegetables so I can get an income every 2 months.

Once already in this situation it is good to have sidelines, there is always a chance to save as long as we find ways and dedicated to do it for our own and families benefits.

Discipline, consistency, determination, perseverance and hard work are indeed important factors that must be possessed by everyone to plan and create a brighter future. It's just that sometimes it takes great motivation to do it. and also we need an insight in managing our finances in order to maximize effectiveness in the use of finances and the allocation of finances. so it's easier for us to save for old age.