Quote from: GIF-JOBS on May 10, 2025, 05:36:05 PM

Quote from: Joy- maker on May 10, 2025, 03:34:28 PM

Quote from: Mayor of ogba on May 10, 2025, 02:57:38 PM

but if we have steady income and discretionary income, we can possibly start investing in Bitcoin without waiting to build up our emergency fund at the beginning of our Bitcoin investment. It is better to get started with our bitcoin investment.

anyone that is just getting started with bitcoin, can start accumulating bitcoin if he or she have a source of income and discretionary income, because waiting to build up emergency fund before you can get started may delay your investment junney or it might even make the person to loose interest if he or she see that bitcoin price gone higher, he or she will start feeling it's too later to invest, that's why it's very important to get started to avoid loosing interest in the future.

You should never wait to start investing in Bitcoin, but you should first have all the things you need to sustain your investment in the long term. That is, a strong stable source of income, cash flow, etc. An emergency fund can be created even after an investor starts investing, but it should be done as soon as possible. You should start investing in Bitcoin with DCA, and prepare an emergency fund within 1-2 months as soon as possible, but having a strong source of income is mandatory.

To get started investing in bitcoin, all you need is discretionary income. You don't need a steady source of income and you do not need an emergency fund.

Surely many people may already tend to have anywhere between 2 weeks to 6 weeks of their expenses that they keep in cash as a buffer between whatever income that that they have and their expenses.

Surely depending on how strong of an income any person has, it could take 1-2 years to build up his investment to be 3 months of expenses invested into bitcoin and/or the equivalent of having 3 months of expenses as an emergency fund. We can imagine that anyone who is investing 10% of the size of his expenses into his emergency fund then it 10 months to build the emergency fund up to one month's size of the expenses, and then it could take 30 months to get it up to 3 months. So it can take a while to build up both the bitcoin investment and the emergency fund, yet once an emergency fund is built up then there is more abilities to invest more aggressively while knowing that some back up funds are in place. There surely are folks who can invest into bitcoin and into their emergency funds more rapidly, yet at the same time, anyone who has less stability in his income and/or less stability in his expenses would be better off to keep larger emergency funds and other kinds of back up funds as compared with someone who has strong and our steady income/expenses.