I agree with you, everyone wants a beautiful and financially secure future, but they do not understand the right decisions that they have to make to reach that point. Not everyone's financial situation will always be the same, and an employee cannot work all his life, at some point he will have to retire from his job.
It is not a good idea to quit your job and invest full time in Bitcoin. You can invest alongside your job. If you do not have a stable source of income, I think it would be better for you not to invest.
You do not need much to invest. You can invest only if you have basic knowledge about Bitcoin and faith in Bitcoin. You can be a smart investor, and you can get success and great profits through Bitcoin investment if you know the right capital management and investment strategy. Because you will not be trading, you will have to learn for 2 to 3 years. You will invest, you will continue to invest alongside your job. You will continue to invest by relying on your stable income. When you feel that you have accumulated enough BTC in your portfolio, you can wait for the deadline to end. Investing is for the future.
Gost ms I think you made a mistake with your quote, the quoted text was written by Ricardo11 and not Catenaccio please edit your post. That aside, you might have confused the entire post with just a few highlighted sentences. What Ricardo11 was trying to say is, no one can stay employed forever there are certain age restrictions which will eventually compel the employee to resign, however if you don't make good use of the opportunities now that you are still a an employee than there are chances that you may grow bankrupted after some years of retirement that is if you have a good saving else it would be a complete disaster of poverty.
One thing that's certain in bitcoin investment from historical view is that the earlier you start investing the better your chances of making more profits increases, however if history is to repeat itself then buying today would be the best decision anyone can make for themselves especially when the person in question is still in his youthful age. Historical views shows that the longer you hold the more profit you get, the youths are more privileged to benefit by starting early compared to those approaching their 70s, which is why it's best to utilize the opportunity by making investment at an early age from your spare cash after meeting up all important needs for the month. Most salary earners do receive their pay at the end or beginning of a new month. Notwithstanding, if the person is still not certain whether or not his monthly salary will cover up all his needs with some residue he can wait until his payday and then use some part of the remainder from the previous pay to invest in bitcoin using the DCA strategy.
The only problem is, accumulation with such budget and strategy can't go that far even after some few months or years.
What makes you feel that if the person in question uses only his discretionary income as you explained, to invest in bitcoin he wouldn't go far upto 4 years and above. Everything depends on proper planning and discipline. Discipline in the sense that you continue buying regularly with DCA even if it's as low as $10 consistently and persistently for 4-10.
I believe that an investor who wants to be consistent with his accumulation will have calculated down his weekly/monthly expenses down before the arrival of his salary so that he can make proper plan on how to spend it and how much will be his extra cash that he can put into bitcoin for that week. Don't underestimate a little beginning. It's better to start with little and have little bitcoin in the long run based on your own discretionary income than being a low coiner.
One of the mistakes investors or would-be investors make in handling their income properly is explicitly waiting for their income to come and then they attend to everything they call needs and even wants before thinking of investing into bitcoin. From experience, I would say this is a very big mistake. You've got to plan, else you've planned to fail, and you may not see the clear picture of your financial excesses and mistakes until you take it into planning and achieve some kind of accuracy in managing your cashflow.
It is always good to plan for the money even before it arrives, or when it arrives, be sure to plan on the usage of every penny before you start spending it. When you plan properly, you can carve out the portion that would handle your expenses with some tolerance (e.g if 40% of your income can handle expenses properly, you apportion 45% in case of any miscalculation) The rest can be considered discretionary income and you can use it to invest into bitcoin and build the variations of backup funds and floating cashes to prevent tampering your investment.
The more you plan your funds utilization properly, the more you would be able to easily maintain your consistency and dedication in your buying bitcoin since bad cashflow management practices wastes lots of income, but when it is planned properly, lots of funds that would have been wasted gets utilized properly and the investor would have more discretionary income available and may even consider increasing his aggressiveness.
Yes @Dubem, what you’re saying is absolutely correct and you just explained budgeting I always tell my peers and people around me how important it is to budget, it opens ways to financial freedom. With proper planning of funds (budgeting) you know what you’re spending on and have better view of your cash flow. If you’re someone who spends on unnecessary things you’ll know what to cut off, planning your funds don’t just let you know your discretionary funds, it’s good for anyone who wants to invest in BTC or any other businesses.
If a BTC investor plans his funds well (budget) he’ll have a smooth accumulation journey using the DCA strategy. Most people don’t plan well for their funds, when you see someone complain that he stopped accumulating because there was no longer money, it’ might be because he’s mismanaged his funds cos he didn’t do budgeting.