Quote from: Figerland Shamrock on Today at 11:21:57 PM

Quote from: JayJuanGee on Today at 06:41:31 PM

It is o.k. to invest 20% of your income into bitcoin as long as you are investing from discretionary income.

it is a better practice to account for your expenses first, yet if you are sure that at least 20% of your income is going to be discretionary income, then there is no problem to invest 20% into bitcoin.

Also, if you have back up funds, such as an emergency funds and reserve funds, then those could save you if you make a mistake by accidentally investing too much into bitcoin in any given pay period.

I only invest 30% of my monthly income from each company salary, and this has only been implemented for the past few months even though I already know investing in bitcoin is good, but beginners may need to take courage in this attitude.

Many normal people are not used to investing at all, so many normal people struggle to even invest 10% of their income into bitcoin or into anything else. Many times beginners need to start with amounts that are more practical, such as 10%, yet still if you are able to invest higher amounts and still cover all your expenses, then surely you are likely to build up your bitcoin investment much faster, including that a person investing 30% of his income into bitcoin will be able to reach the investment of 1 years of his salary into bitcoin within about 3 years and 4 months.... which surely can be a good thing if people are able to accomplish that and without putting themselves into financial stress including maintaining various back up funds including emergency funds and reserve funds...and otherwise strong cashflow management practices.

Quote from: Figerland Shamrock on Today at 11:21:57 PM

Yes, I always calculate the expenses first what is needed to be spent, after that the rest is to invest in bitcoin every month.

When it comes to reserve funds from the past, I have kept it because it is important for urgent needs, but now I am comfortable with the existence of reserve funds, which means that investment will be safe and will not be disturbed.

Generally, it is good to have at least 3 months of emergency funds that are in the currency that your expenses are denominated, which you never touch absent an actual emergency in which you might lose income and/or your expenses might go up (such as an accident that involves costs). .. so then extra back up funds that you keep in excess of your emergency funds would be more flexible in regards to what those could be used for, such as buying bitcoin on the dip, or some other kinds of savings that you might have for example to buy yourself a computer or a phone or a car or a motorcycle or take your wife/girlfriend out for dinner or a special trip, buy a bike for your daughter or some other kind of thing that might not be in your regular budget but you want to save up for.

Quote from: Ronsbit on Today at 11:25:02 PM

Quote from: BITCOIN4X on Today at 10:40:32 PM

[edited out]

You are right that some investors do not have an idea about emergency funds and how it works but rather, they solely depend on their profit, which sometimes does not go down well with them and when their business begins to shake or have issues, they sell their assets just to solve the problem and in some cases when it overwhelms them, they get frustrated and that is the end of their business.

I once had no idea about this aspect of emergency savings till it dawned on me. That was when I realized that I had no savings. I made a budget for it and began my emergency savings, and it has helped a lot when I am in need of financial backup.

Sometimes investors do not realize the extent to which they are lacking in back up funds until they think through the situation or an actual emergency comes and they have no fall back... So, it remains important to have some thoughts about your set up before you end up in some situation that you had not realized that you had made yourself vulnerable. These matters become more important with an investment like bitcoin that fluctuates a lot, and if any of us make investment plans that go out 4-10 years or more, then we likely have to try to figure out ways that we are not tapping into our investments at all, but especially at times that are not completely of our own choosing or at times that we are not able replace any bitcoin that we might have spent.

Sometimes newbie investors will also play fast and loose with their bitcoin investment, and even if they might have a plan to invest into bitcoin for 10 years or more, they will find that their bitcoin holdings are extensively in profits at a time that it still early in their investment, and then they may well end up fucking up their investment because they try to trade it.. and then they may well end up selling too much too early or ending up with way less bitcoin than they would have had if they had stayed focused on ongoing buying the bitcoin until they get enough bitcoin or more than enough bitcoin.

Surely anyone on the internet cannot resolve your situation, so it remains important that you figure out some systems that will work for you to reach your goals, and if you are trying to accumulate and build up your bitcoin, then it is good for you to think through the various aspects of your personal factors to make sure that you have put good systems in place that are tailored to your own financial and psychological circumstances.