Original archived Re: Balancing Financial security and Bitcoin Accumulation
Scraped on 21/09/2025, 21:52:12 UTC
If someone saves a large amount of cash step by step, the mindset of investing in Bitcoin can change, because it is not possible to make quick money by investing in Bitcoin, but long-term investment can be expected to yield profits. Due to excessive awareness, the mindset of taking risks with cash can be destroyed. Then you will prefer to save more cash step by step. A person can start investing in Bitcoin if he has a prudent income. In addition, an emergency fund is needed for 3 months to deal with unknown dangers so that long-term investment can be managed properly. So we need to save such an amount of cash so that the mindset of investing in Bitcoin does not change.
There is no specific months to which you should keep an emergency funds but it is good that as you are keeping your discretionary income you are also at same time keeping your emergency funds for security reasons.
Actually, how many months worth of your monthly expenses to be held in emergency fund isn't fixed but subject to the discretion of the investor. Holding at least three months with of your expenses as emergency fund is to give you some sort of tolerance not to fall back on your portfolio immediately for survival in case your financial situation gets very bad and you've exhausted your reserve funds already.
I don't really know what you meant by prudent Income but I want to believe we don't need a prudent Income before we can investing, what will just need to invest is a source of income we can get a discretionary from.
Yep and you don't need to earn the money for it to be invested into Bitcoin. Money can be gifted, come as a form of allowance from dependents and you can still choose to invest it into Bitcoin as long as you consider it to be your discretionary income.