It is not mandatory to have an income that exceeds our needs before we can start our bitcoin investment. Since bitcoin is a long-term investment, we need a good source of income.
There is difference between needs and basic needs. Needs is a general term that covers both the basic needs and nonbasic needs. Basic needs are those things that you must have, they are mandatory to have and if you don't have them, your mind cannot be at rest and there is no way you can hold bitcoin under that situation. For example, food is a basic need, while driving luxury cars is not a basic need. You cannot hold a bitcoin portfolio when you are battling with hunger, the safety of that investment is not guaranteed because it can be sold anytime the hunger hits the right spots in the stomach.
Before investing in bitcoin, it is mandatory that the basic needs must be met and some funds even set aside as reserve incase of any emergency. Not that you cannot buy bitcoin when basic needs have not been met but calling yourself a long term holder of bitcoin when you have not sorted your basic needs is like self deceit because it will not work. We are advocating for ways people can better invest and hold bitcoin and the suggestion of basic needs and emergency funds is just one of them
We will be using 10% of our salary to accumulate bitcoin every week or month, depending on when we receive our salary. We can also keep 20% of our salary as a reserve fund to be used to settle any unforeseen problems that may arise unexpectedly, so that we will not depend on our bitcoin investment to settle them.
The percentage of salary to allocate to bitcoin investment will vary per individual and will also depend if one is well paid or underpaid. For most jobs in my neighborhood where the salary is not even enough for basic needs, investing in bitcoin will be very difficult.