IMO funding your emergency fund should come first. We should only invest once we have saved enough money for emergencies to cover future expenses for at least six months or a year. If you lose your job or the price of bitcoin goes down after you have invested, you won't have anything left with you. However, there might be adjustments to plans along the way. if you see any opportunity that you are certain will give you enough money if you invest in it, then it is worth taking the risk.
There is absolutely nothing wrong with what you say because if someone already has mature enough intentions and planning for long-term investment, of course the funding must also be mature enough. As you said, someone must have an emergency fund which must be prioritized as the main point before funds that will be used in their own investments for the long term. Because it is also very possible for an investor who invests in Bitcoin not to withdraw the funds that have been invested when market conditions become bad or when the price of Bitcoin itself experiences a correction like now.
So I think that's right, because that's what should be provided first before someone immediately takes investment steps with a simple plan, but not with sufficient consideration. I often liken it to a long journey with the preparation of two provisions that must be separated first before they are actually used in different places. So in this case the emergency fund is the main provision and investment funds are the second provision so that an investor can carry out his investment with enough discipline in something.
How much of emergency funds do you think will be first reached before then planning on beginning one's investment budget. This could be from your own perceptive but I see it as being a waste of time, where as I know how much of Bitcoin I must have loaded in my portfolio.
@teamsherry on his opinion decides to load his emergency f
unds for a six month space, do you know how much dips, call it a significant entry price that one should have DCA during that time.
One thing we should know, even in the process of saving that emergency funds, we still have to face certain problems which means we also have to alter the loading up of the emergency process, like still taken money from their to solve some life challenges.
I believe money from your cost of living has covered a lot of expenses and for the emergency fund is just there to cover up little more expenses, so why not convenient doing both.
If you wait until you have a comfortable emergency fund that will be enough for you to take care of things when the need arises, you won't be able to invest, to me, I don't think that there is any amount that we should have before investing, beside an investor should not think of being alright financially before making investment move, the only aspect one should consider is how much that is coming in daily, weekly and monthly after this check, the money should be divided into a segment, the one for emergency stuff, other needs and the investment itself, with this idea one can start from somewhere and never think of withdrawing his or her investment when fully involved.