Why would you limit it to 4 years? Even if you increase your investment to $50 per month that would be right around $600 per year and $2,400 in 4 years. It does not seem to be a place to be stopping. And let's say you extent that to 20 years, and then you have right around $12k invested, so now you might start to be getting somewhere in the event that your disposable income does not go up.. but there can be ongoing adding of value and then at some point it might start to become more clear if you should be changing your strategy or at what point you might be getting to be out of accumulation phase and into either maintenance stage or liquidation stage.. and surely from my own thinking it does not seem clear to transition from accumulation stage to liquidation stage without first going through a period of maintenance stage... but hey, each of us have our ways of thinking about these kinds of bitcoin investment related matters.
Actually I earn about 180 dollars per month doing masonry work. I put aside a day's worth of my paycheck at the end of this work week to invest in Bitcoin and my wife puts about $25 of my monthly income into insurance. We have done this insurance for about 10 years. Where we have to deposit 25 dollars amount money every month.
Perhaps you have figured out your finances to know that setting aside a day pay to invest in Bitcoin will not put you under financial pressures. I say this because it is one thing to buy Bitcoin and another to hold because holding require that basic needs are met and plans also put in place for little reserve funds in case of unforeseen events that may arise. If you get distracted by the excitement of being a Bitcoin investor and holder without making adequate preparations, a little change of events may force you to sell some or all your Bitcoin and this will discourage or demoralize you a lot. Therefore, inasmuch as it feels good knowing that you are saving for the future via Bitcoin investment
JayJuanGee After reading the post you quoted me I explained to my wife that if we invest the money in the insurance we are collecting into bitcoins our bitcoins will increase. We will even get more money if we invest in bitcoins than if we put money in insurance.
I feel there is a little challenge with this. Insurance serve its purpose which mitigates risk to your physical assets; have you thought about how it will be when you stop paying for the insurance and accident happens? Don't you think if this happens you will be forced to sell the Bitcoin you accumulated? We are not praying for accidents but we must always prepare for things that are not within our control.
Insurance is very important that is why many companies have even been studying how to insure digital assets such as Bitcoin even though they have not made much progress. I was fortunate to read about some of those companies that tried venturing into insurance of digital assets and I feel it is still an ongoing project.
I think insurance qualify as basic needs that should be prioritized therefore the money should not be channeled into Bitcoin.