Re: Balancing Financial security and Bitcoin Accumulation

without money, there is no way that you can invest in bitcoin, so the best thing is for anyone to have a job so that when you start from there, because there is no other means that will be accepted when you have a means of earning, but when you don't have a means they how do you even invest so one of the best things to start with is for you to get a job then you will notice that that way you will be able to use the dca method easily because without funds there i no way you can do the dca.

And it depends on the kind of income you are getting, because when you are investing good money same way you will get good return so the money that is going in to buy matters a lot. After all, when you don't invest well then the returns will be small when you are not finacially stable then it will be better to figue things out before investing.

To invest, a person can invest by doing any work, whether it is daily wage, job or business.To invest, it is necessary to have a source of discretionary income. If your source of discretionary income is from a job or working as a daily wage, then you can still invest if you want. If you are working and if you cannot get the meaning of discretionary income from it, then you may not be able to maintain the continuity of your investment. Therefore, you need to have the importance of proper financial management.

Bitcoin is very risky, there is no guarantee that you will be profitable if you invest. However, the possibility of profit is much higher in the case of long-term investment. Therefore, we can never say that we will be profitable if we invest.

you are actually every correct, Without that, it’s nearly impossible to commit consistently especially with strategies like DCA dollar cost averaging low, some many people want to rush into crypto without first securing their financial base. Getting a job or stable source of income is the first real step. Once that’s in place, then you can think long-term, invest wisely, and actually see meaningful returns. smart money starts with smart planning.

You don't need a stable source of income before you can invest into bitcoin all you need is your discretionary income. There are some people who have stable source of income but at the end of the month and taking care of their basic needs and monthly expenses, they are left with nothing. Such people cannot invest in bitcoin.

A contractor that gets paid twice or more in a year can invest in bitcoin after he gets paid with his discretionary income. The contractor after taking out his monthly expenses and basic needs for a given period of time and he has left over. He can use that leftover to invest in bitcoin whichever way he wants. A gambler can hit the jackpot and use his win to invest into bitcoin. Proper plan and cash inflow management is what matters.

Let's not deceive ourselves here because we all know that bitcoin is a long-term investment, and for us to comfortably invest in bitcoin and hold our bitcoin investment for 4-10 years, we will need a steady income that guarantees us discretionary income, but if our steady income doesn't guarantee discretionary income, we have to work on our source of income to get a better one that guarantees discretionary income. We don't need to be in a hurry or force ourselves to invest in Bitcoin when we have a steady income that doesn't guarantee discretionary income because if we do that, we might use the money meant for our expenses to invest in Bitcoin, and we will fail in our Bitcoin investment because when the time to solve our expenses comes, we will have no choice than to depend on our Bitcoin investment to solve it. If a contractor who is not certain when to get the next contract in a year after completing 2-3 contracts starts to invest in Bitcoin, the contractor might end up selling his Bitcoin along his accumulation process because he will save up money he will use in the future to solve his expenses in case he doesn't get any other contract, and when he notices he's not consistent in accumulating Bitcoin, he might get upset and sell his Bitcoin out of anger. We surely need a steady income and discretionary income to get it right with Bitcoin investment.

Fair enough, but the point is that you don’t need a steady source of income to be able to invest in bitcoin, all you need is just a discretionary income to invest with. Bitcoin investment is a long term investment and for an investor whose initial strategy is focused on the long term goal of accumulating and hold, surely there will come some weeks or months when you might not be able to figure out a discretionary income to accumulate with, and If you’re unable to figure out your discretionary income yet to be able to invest with for the week, or month or sustain your seemingly ongoing investment, you mustn’t get yourself worked up about that, and that also shouldn’t push you to sell part or all of your assets just so you can be Able to get money out of it to sort out your needs because it’s an area where your emergency funds comes to play. If your discretionary income isn’t available yet to invest with, all you need do is to wait until you’re able to figure out your discretionary income again so you can continue your accumulation. It doesn’t matter how long it takes you to build up your profile and meet your investment goal, it’s a long term goal and at such patience is key. In as much as you are accumulating and not selling for quick gains or panicking to sell whenever you notice a little downturn in the market, rest assured that with time, discipline and patience you’ll gradually grow your portfolio and meet your accumulation target. And come to think of it, what will make an investor who is a steady income earner not to be able to figure out a discretionary income if not for a poor financial management skills or the person is an unserious investor . That’s why it’s equally important for an investor to have the right financial management skill to be able to manage his finances and know exactly where and how his finances are being spent on.