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Quote from: Rockstarguy on Today at 01:02:44 PM

Quote from: SOKO-DEKE on February 20, 2025, 11:10:24 AM

I don't think emergency funds are that necessary when someone has stable sources of income. For example, when someone is a wage earner or salary earner, their income can simply serve as emergency funds if they plan well.The reason why I feel someone needs emergency funds is when they don't have stable sources of income. These are the people who need emergency funds in case anything comes up in the future. This way, they won’t need to dip into their investment funds.However, as long as someone has stable sources of income, those incomes can serve as emergency funds. The only thing is that if someone wants to enjoy Bitcoin investment, they should use the DCA (Dollar Cost Averaging) method and avoid buying all at once.

Everyone needs an emergency fund and it not for only those who don't have steady source of income. One thing you should know is that in life anything can happen which emergency fund will be needed. One of the qualities of a good investor is the emergency fund because of anything can happen. Just imagine you lose your job instead of you going to tamper with your investment you already have an emergency fund that you can fall to, atleast it can be able to sustain you for the moment.

One who is having a steady source of income with no plan for emergency fund, I think this can be considered as poor management of money. With an investment such like bitcoin, having an emergency fund is very important just to get prepared for the unknown. Sometimes we may have our plan due to the job and income we earn but life can be funny. It is called emergency fund because anything happens and if eventually it happens it is an emergency because it was never expected.

As far as bitcoin investment is concerned, an emergency fund is very much important to set aside when you are investing in bitcoin, and it can be done before you start accumulating bitcoin or some months after you have started accumulating bitcoin so that if there is any unexpected problem that may arise during your bitcoin accumulation journey, the emergency fund you set aside will help you to easily solve the unexpected problem without even thinking of selling part of your bitcoin to solve it or passing through difficult times to solve it. But any investor who ignores the emergency fund and goes ahead and invests in bitcoin without making provision for an emergency fund will fail with his or her bitcoin investment because by the time he or she sorts out his or her daily expenses and uses his or her discretionary income to invest in bitcoin, when an unexpected problem arises, there will be no emergency fund to depend on in solving the unexpected problem, so the investor will have no other choice but to sell part of his or her bitcoin to solve the unexpected problem.

Yes as a Bitcoin investor you must be ready for anything inorder to Secure a smooth investment, this is where planning comes in and having an emergency funds is part of that planning, so everything is base on making proper calculations you can focus some certain percentage of your earning as emergency funds, so that if any expenses comes up you be able to handle it with what running to your Bitcoin to solve it , because if you develoy some manner towards your Investment, your investment may not endup being one with growth ( because of the constant selling ) , that's why usually tell folks that is not bad to be aggressive when accumulating the only problem is over doing it, some people do over accumulate Bitcoin just to hit their goal with light speed but endup messing things up to get me wrong is good to hit your goal will quick but without going overboard.