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The bottom line to be a successful Bitcoin investor, is that one must be financially stable no matter who you are in other for you to remain focus and regularly be accumulating Bitcoin
no matter how little you are able to afford so that your long term holding of within 4-10 years will be successful and not be wasteful in respective of the strategy you adopt, also avoid selling your investment along the line no matter how profitable and big your investment becomes to avoid falling off the track with regrets and end up being a no coiner which you started on a good ground.
Your Bitcoin investment should be handled with utmost care, not what you feel should be treated anyhow.
There is no guarantee that you are going to be successful in your bitcoin investment, even if you invest 4-10 years or more... and even if you do everything perfect.
Nothing wrong with your idea to stay focused on accumulating bitcoin through buying and not including selling within your approach, but that still does not guarantee you to be successful after 4-10 years or longer in bitcoin.
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.
At first it was quite difficult to invest because I was not used to investing like this, but over time, I myself have become accustomed to allocating higher than 30% of course this has covered monthly expenses, so that when there is still left over it is better to go to bitcoin than to buy consumptive goods.
O.k. no problem. I was mostly attempting to point out that it is not normal for many people to be able to invest that high, yet if you have found ways for that level of aggressiveness in your bitcoin investment to work for you in a sustainable way, then you are likely able to build up your bitcoin investment size (relative to your income/expenses) in a much quicker way than regular people who might struggle to achieve those levels of investment into bitcoin.
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.
After seeing the balance in the bank, it is enough for the next 5 months as a reserve fund and this has indeed been untouched for 3 months because there has not been any urgency, so I will continue to maintain it while I can with the emergency fund.
But unfortunately the extra reserve fund does not exceed the emergency fund, this is only a little that is owned but I will not buy unnecessary items, because I already have items like what you mentioned such as computers, mobile, motorbikes.
Because I have a family, of course, I prefer to stay at home with my wife and children to save.
The rest is still trying to be allocated to something more productive.
I understand that some people are able to share expenses with family, which can help them to invest more, while still maintaining their various family obligations too, so in the longer run, your investment may well end up benefiting you and your family more... Hopefully.
Another thing, since you are a newbie here, it may well take a while for guys to get to know you, and perhaps you might be able to report any of your various adjustments along the way, and sure there is no need to give up personal information in the process, even though guys are still getting to know you and to perhaps attempt to verify what you are saying (and doing) makes sense.. .and yeah,it can make a difference if you have been investing 30% of your income into bitcoin for a few months versus a few years versus several years, and surely I had already given quite a few examples in which guys are putting themselves into a pretty good place when they had merely invested in the ballpark of 15% to 17% over a period of about two bitcoin cycles... and for sure, bitcoin's past performance does not guarantee future results, either.
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20% of your income is considered good for investment but I have already described my own experience that this may not be an easy consideration for everyone. You may be comfortable with having sufficient funds/alternative reliable sources of income at the moment but times may change and circumstances may arise that your family expenses may increase further. Or you may have to reduce the amount of cash funds to grow real assets. I think this type of financial trend can happen to most investors. Another important consideration you should keep in mind is that the price of Bitcoin may fall much lower than you expected which may cause you to regret investing your 20%. Although the chances of this are very low but you should be prepared for every adversity.
With discretionary income you do not need to put extra mental tension on accumulation Bitcoin because the amount you have already allocated for Bitcoin is additional funds (disposable income) beyond your family's daily needs. You might think that he is very ready and comfortable with that percentage of Bitcoin but he will soon come to terms with reality and accumulate Bitcoin from his resonable discretionary income for the long term.
Of course, anyone investing 20% of his income into bitcoin for years and perhaps over a cycle or two is likely to put himself into a very good position, and surely there should be no need to worry about the bitcoin price whether it is going up or going down, even though sometimes a person might start to want to account for bitcoin's price after he has already been investing for a while, such as over a whole cycle.. even though it may or may not be necessary, even after a whole cycle of investing into bitcoin to start to tailor bitcoin buys around dips rather than just buying bitcoin ongoingly, persistently and regularly.