Topic: Untouchable Savings: Do you have it? - page 7. (Read 1126 times)

if you bought say 1btc at $7.5k to sell at $60k to make profit of 800%
keep ~5/8 profit. and put in 3/8 (~$22.5k) for the next cycle

it would mean you already turned $7.5k into $37.5k 400%(if you ignore re-investment amount)
a nice win in of itself

and a side lot of $22.5k that can turn into more in the next cycle

which because you are already $30k up. 400% (if you ignore re-investment amount)
then you can enjoy that win AND saving for the next roll around

or even just re-invest the 7.5k again. at 0.33coin and keep the other $52.5k to live on, enjoy

OP, yes.... we can apply this to all these Bitcoin hoarders.. that are gathering bitcoins like Scrooge McDuck and never selling any of it. Can you imagine paying thousands of Dollars for some bitcoins and then everything going ape shit and the Bitcoin price going to zero. 

I have done that for many years, but when we reached the all-time-high price of $60 000+ ...I decided to sell some, because I wanted to change my life while I could still make a 800%+ profit on it. I do not care if it goes to $500 000 per coin, because it already changed my life.... and I can now say that I profited, before anything happens to it. 

Yes, in my opinion, every person should have savings.

This is due to the fact that unexpected catastrophic events can occur in the life of every person (loss of a hired job, illness, serious injury, etc.).

Also, a person may be faced with the need to make large financial expenditures. For example, a person may urgently need money for treatment, purchase of real estate, marriage, etc.  It is also possible that he will have a chance to earn a large amount of money, and for this he will need to make investments. Therefore, financial advisers recommend that 10 percent of all their income be directed to the Savings Fund.

I understand the expediency of such financial discipline, but inflation in my country is very high and in order to maintain the same standard of living, I very often spend money from the Savings Fund. It's not very good ...

The idea of untouchable savings do not make too much sense to me, if it is untouchable by that logic it should also be not helpful at all. If you are not going to cash that out, will you basically die before you touch it? Will you leave it to your kids? If so, it will never have any impact on your life at all, makes no sense to me.

I personally believe that you should see every savings touchable so that it could have an impact on your life, selling and getting out before it reaches to that impact is a mistake and you shouldn't touch it until that point, but after it becomes big enough or it is a moment in your life that matters enough that you could sell and have an impact? Then you should sell.

When it comes to being thrifty and economizing throughout college, I hear you. Even I have had to learn to prioritize my expenditures and make do with less in order to make ends meet. Finding a happy medium between saving for emergencies and spending on necessities might be difficult, but I believe it is essential.

On the other hand, I think it's important to appreciate one's existence and not deny oneself the things that make life worthwhile. There's a narrow line between living for now and investing for tomorrow, but if you can walk it, you'll be able to enjoy both.

Setting financial goals and making a budget have helped me in the past with controlling my personal spending and saving. Knowing exactly how much money is coming in and going out each month helps me set financial priorities. To make sure you stay on track, it's also essential to regularly evaluate your progress toward your objectives and make any necessary adjustments to your budget.

True be told, money gives me peace of mind, my mind will never be a rest if I don't at least have some fund saved somewhere, I prefer if something happens to me (death) while having some money, it is more better than having a long life with no money.

In 2016 I had a million in my local fiat currency that I couldn't touched, because I have goal that most be achieved, even when all my clothes turned rag I kept managing two for a year and a half, later, that money changed everything for me.

In early 2017 , I bought my first Asic and make money through the year into 2018, paid for my tailoring academy and later sold the asic in 2018 bear market, to cut the story short, that 1 million changed everything for me, till this day.

To be honest, I have a lot of untouchable savings and same as you, I don't intend to use it unless there are emergencies that I really need to take care of. We may have different reasons why we have shaped this mentality but overall, I believe a really horrible experiecence or a period of hard life leads to where we are. However, refusing to use the untouchable savings does not mean our life has been deprived of what we deserve. I certainly feel financially secure or at least confident with all savings and my standard of living is quite stable and reasonable because I get my needs satisfied. For example, I bought a new SUV nearly two years ago and that was basically for my family because at the time my daughter was newly born. The cost did not bother me much even if I took the money from my savings because I already made the equivalent money and put it into savings. Am I still holding the savings tight ? Yes of course but I am also open to any reasonale spending if that improves my life in general. Therefore, I would never be like the people who died in the desert with bottles full of water.

You're probably right. In real life, however, it's more interesting. I have an uncle who died with much money. He was thrifty. He normally bought used clothes only. I guess he was a bit paranoid so he saved a lot for whatever extreme may come, probably health issues and costly hospital bills when he gets old. On his deathbed, ill, he told me he'll be recovering soon because he has yet to go to the Holy Land. That was apparently on his bucket list. He never made it there. He left more than $20,000 in his bank accounts.

It made me think, what if he lived to the fullest, spending all his money down to the last penny, and died penniless but satisfied? Would it have been better?


Such an unfortunate yet common scenario here in my country. I don't know if this has something to do with human nature or something cultural.


I appreciate your view. I love the idea.

My observation here is that this is usually the case with the people who are daily wage earners or those who are living with side hustles only. Near my place is a slum. Some of the people who live there are my friends. I noticed that they are also the people who don't think twice of spending whatever money they have. I can even go as far as saying they normally have better food on the table than those with permanent jobs. I'm even awed at their ability to disregard what you call the "illusion of comfort and safety." They're not afraid to go broke. I guess it's not a risk for them. They're living their lives day by day. Having no money simply means they need to look for some work.


This looks bad to me. I don't agree, and I don't encourage this. USDT is more unreliable than gold and money kept in banks.

I think this kind of mindset tends to show itself as we grow older, and more intelligent on the financial side of things. But when we are young, we don't know how to save for the rainy days and think of our future.

That's why it really good to let the young generations knows a thing or two with regards to investment specially assets like bitcoin. It should be in the long run and what we all preach, invest what you can afford to lose.

Well, yes. I tend to allot my budget for the whole month and that includes personal savings and emergency funds separately. I am fully aware that there will be times that those alloted money could be spent for any reason possible but atleast, if you planned where those funds will really be used, you'd resist not to use all of it to another thing which it wasn't meant to. On a long run, having savings would really be helpful especially in times of need and for future purposes ofcourse. But I won't judge those who does not have it simply because we are going through different circumstances; ofcourse anyone would dream to have a savings but not all would be capable especially if the salary itself won't be enough for a daily living.

Personally, your way of saving is way too extreme; I'm not going to start eating less in order to save money. Yes, I will avoid buying junk food, such as chips, chocolate, candy, etc., but not cut down on food. I'm also not going to be drinking plain hot water; I'll buy a coffee or a hot chocolate every now and then; it's no biggie; I'm still saving money. I'm not going to become obsessed with money by living my life poorly.

Moreover, as Lucius already mentioned, an older car might be more expensive to run in the long run. My previous one kept breaking down and requiring repairs much more frequently than my newer one, which I've only replaced a resistor on so far, which I did myself.

I have Untouchable Savings. I keep in usdt as i believe savings should be liquid at all times. Any banks for storage are highly unreliable. Keeping Untouchable Savings in gold and the like is also unreliable.

Everything should really be in control or simply in moderation because spending too much is always been bad and there's no way that you wont really suffer out and this is where people been thinking or should be thinking
on which spending on something that is important which should be prioritize first and be practical as much as possible.We know that we cant be healthy forever on which there's a time that we might be needing
soo much money specially when health issues do able to hit up us hard where finances would be mainly be affected.In overall your riches cant really be brought into your grave and this is why
some people do really spend up on something which they do enjoy their lives.

I would rather spend less than don't touch it to deprive more of yourself. Although, you can't help it because when you really needed it you will have to get it but of course, you still have to control yourself from spending them all at once or buying unnecessary things that you don't want right now.

Maybe if I try the untouchables savings, it will need a year or so before I touch it again, depending on the needs. But overall, there's always something left to that savings since I don't spend them all like what most people do. They get to work then get their salary and spend it like a millionaire on a single day then deprive their selves again for another month or most likely they will take loan which is adding more problem but they don't bother it anyway as long as they have money but they didn't think how expensive they were when trying to live.

It surely applied to me at one point, especially the same as your situation OP. Back then funds aren't as easy to come as when you're employed, given the fact that I was forced to study only to "focus more" on getting that degree. That being said it made me very stingy of the very little money I get every week. The very little money I have however, is spent on things that are of value to me. Things that I know would help me later down the line, so in essence it's not really untouchable money. But during the time and the eventuality of me saving money, I'd find myself thinking that I'd rather save than starve the next day, I only ever really stopped when I realized it's causing some huge detriments on my health too.

One thing that I'd just like to put out as a rule of thumb for people out here who are in the same spot. The money you save by jeopardizing your health and your well-being will be gone when you have to pay for hospital bills. So it's fine if you couldn't save for now, health is wealth as they say.

Not spending your savings is fine as long as it serve its purpose and personally, I have some savings that I’m still not using because its intended for a different purpose like for emergency purposes but I’m not depriving myself into anything since I can still get what I want even if I save money. I believe how you handle your finances will matter here, don’t be too hard with yourself, if you have the money to spend on important things then spend it, and buying your wants sometimes is fine. Having a limited budget will force you to be more strict with your money, I’ve been into this situation and its really not easy to spend your hard earned money.

It is quite hard to have an untouchable savings since I am an active investors, sure I have untouched savings but the moment that is to be touched and use when I hit the needed amount for my planned investment.

For a person that is earning just almost enough for family budgets, it is quite hard to save, we really need to budget things accordingly and avoid expenses that is unnecessary.  The better approach is to take side jobs which can earn us more and enable us have the luxury of having an untouchable savings.

I could say that im a bit different on which i would be having the mindset is that on what im really working for? on where or which i do save up? Its understandable or something really that in default on having a

savings but making yourself limiting into things that you do want then you arent really living your life to the fullest because you are worrying on something.Its true and it isnt bad to be prepared via having those
savings in preparation or in accumulation but it cant really be just denied out that excessive savings could lead up on unhappy life considering that you are depriving yourself on buying
on what you do really like to have or its impossible that we dont have any wishlist or something.

Untouchable Saving is a sort of preparation for whatever happens to us like for emergencies and many people are doing this. It is actually we can do this if we wanted to do it and have a plan but in your case OP, I don't think we need to sacrifice our health just to spend less and save some money because it might lead to huge expenses if our health got compromised. We can do savings in the other way, what I did before is to walk from school to our house to save my fair and keep it.

Savings is good but we are also affected by the inflations. It was better to save less but invest more.

Not sure how true that story is and might be a bit of a myth to try to prove a point. Some of the stuff you say is a bit silly and being too frugal can bring a lot of misery in life, you need to really enjoy the little things. Hot water without any flavoring is completely different to things like hot chocolate or coffee. Depriving yourself of an adequate food portion can be equally dumb as having energy in your body can help you be much more productive in the long run, it is the fuel for your brain and muscles after all. Having an emergency fund of money is definitely useful and you should not touch it, but it can be stored in various forms - instead of putting it into a company that might return 6% in yield you might settle for a bank account paying out 2% in each to make a little bit of profit from your safety net.