Post
Topic
Board Speculation
Re: Buy every dip!
by
Byebyebtc
on 03/04/2025, 15:02:30 UTC

Investing in bitcoin requires that you should have a stable source of income that makes provision for discretionary funds after all necessities have been taken care of, anyone without a source of income should not invest in bitcoin untill the they have secured a good source of income, this is because without money you can't invest and you don't just plug money from trees, you need to work for it, some work harder than most depending on the job/business, and your income has to be high enough to yield discretionary funds before you invest, because you should never invest with the money meant for paying tax and footing your bills, and also while investing in bitcoin with your discretionary funds, a percentage of your discretionary funds should be saved up for emergency purposes so you don't end up selling your bitcoin when you run into a financial crisis and are in dire need of money.

There is no need to create an emergency fund before investing. Because if you are not investing, then in my opinion, an emergency fund is of little importance. Invest first and then gradually build an emergency fund. Or if you have the money to create an emergency fund, then immediately create it as soon as you invest. Try to keep 3 times your disposable income in an emergency fund.
I dont agree with you. You should definitely have an emergency fund for unexpected events that may happen. If not, you are just going to take your investment later on to attend to the emergency. A 2-6 months emergencies is enough to start an investment you dont need to gather all the money in the world. The reason for having emergency funds is to play it safe while you are starting your investment. There is no certainty of any bad happening but what if? That is the question you should be asking yourself. Because we dont know the future so to avoid any investment mistake why not have an emergency fund. After 2 months you can start your investment but still have it in mind that if you are not satisfied with the amount you have in your emergency fund you can put more funds there.