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.
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.
Your claim is right and accurate but by doing so, you are already leaving something that is important to your family also. The benefits of insurance cannot be overstated and it serves its purpose for what it has been designed for. It is good to see that you’ve saved a lot in the insurance company for the past ten years, it will be better if you minimize your savings in the insurance and have more bitcoin savings plus the amount you are originally setting aside and investing into bitcoin monthly. Bringing the insurance savings to a stop is not a nice idea, you can continue with the insurance savings, while taking some percentage of the insurance savings and add to that of bitcoin savings. It will serve like balancing your investments by prioritizing one over the other but not necessarily halting any of the investments.
Just like me you have started investing by following DCA method. Since you are depositing in bitcoins with your daily work remuneration. If you deposit five dollars a week, that's $20 a month. So your annual amount of wealth is 180 dollars, the amount is 240 dollars annually, so if you can accumulate for a few years, then you can definitely accumulate a large number of bitcoins. I also just completed one year of Bitcoin accumulation and I have approximately $385+ worth of Bitcoin accumulation. I started investing in Bitcoin when the coin touched 15.5k in early 2023, and now I am so focused that I am not able to invest in any other way than the DCA method. DCA method is best for me. I am impressed by the improvement in my wallet which I can confidently say leads people to a bright future of success.
DCA still remains the best method/strategy to accumulate bitcoin, it doesn’t work for only one class of people but for all persons that wants to invest in bitcoin. The best way to enjoy DCA is through consistency every week, bi-weekly or monthly, that is the only way you’ll see your investment grows and your portfolio keeps balancing through buying low and buying high within those intervals. DCA method just requires you to have set aside money for emergency expenses because when you come back and touch from the investment accumulated through DCA, it will just scatter the investment and makes it hard for you to reach that target again especially as the price is rising as we approach the bitcoin halving and the anticipated bull run that comes after it.
The truth has always remain that money invested has more potential to produce more money than money saved in the bank or in another place. I don't really believe in saving money while the money can be put into use through Bitcoin. Once I get my paycheck and remove my feeding money and the percentage for emergency funds I put the remaining balance into Bitcoin investment and since I have a business that also produce little money that I can always rely on my daily financial life has not been negatively impacted.
It is also good to know which investments you will put your money into that will have the potential to give you more money because if you fail to know the correct investment to do, you will regret not saving your money and just simply watching it in your savings. Bitcoin is worthwhile and has been proven to be a good investment for long term investors. If you’re looking to be a long term investor and understands how bitcoin works, investing in bitcoin will be the best for you. With the way you explained and understood how bitcoin works, you won’t have a problem after investing in bitcoin since you know what you stand to achieve in the future through the investment.