Any unexpected event in human life can happen at any time. He must always be prepared. When a man is unable to balance the difference between income and expenditure, he naturally leads a miserable life. In recent times inflation has affected everyone's life quite a lot. If someone loses his job during this time then no one will be more unhappy than him. If one can save good money in this situation then he can feel quite comfortable. I think every man should save. This savings will be able to provide great support at any time in life.
Saving should be reasonable. There was such a Plyushkin in Gogol's Dead Souls. He was so economical that he wore rags and ate rotten food, even though he had plenty of money. Life passes quickly, and you should not deny yourself basic pleasures because of excessive savings. You can make it a rule to set aside a certain portion of your income, but certainly not a large portion. |
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we all know that it is quite easy to say or advise another person. however, when a person is already so deep with his investments, he will fail to see some warning signs. and with his age, i guess the aggressiveness was there because he was thinking that he will get a very good shot at this market.
as you grow older, you will learn from your mistakes. that is, if you haven't given up with yourself. so the person in the OP's story will learn an expensive mistake of his lifetime. in time, he will understand more about investments.
Investing is a high-risk business. There are no reliable investments. At any moment, any project can go bust. Such is life. And even 100% guarantees can remain guarantees in words. That is why it is possible to study a project for a long time - but in the end go bankrupt. |
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Personally, I refer to myself as a long-term holder who can hold my assets for more than one year if I see a prospect. Of course, it is possible to successfully buy at the bottom-before the bull run-but that is very rare. That's why you need to hold a significant number of cryptocurrencies, because you can't be sure which one will shoot up.
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Atleast for the sake of my family I prefer doing the civil servant job. If I'm single I could've opted for the cryptocurrency trading, because I can manage with what I've earned for the day. When we've got dependents it is really hard and certain scenario can't be managed easily. Somehow I'll try to spend good time on trading as it gives me additional earning access based on my understanding about the market. Every day we can't expect it to be successful day in trading. OP is good enough and lucky to have consistent profit through trading.
At least trading gives a certain independence - and, with due diligence and luck, some confidence in the future. Of course, you can't exclude the risk that you can lose everything in an instant - that's crypto-trading, but there is risk everywhere, unfortunately. |
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Investments are, to a certain extent, passive income. And trading is an active income. That is why it is necessary to combine investing and competent trading. Of course, in order to trade successfully, you have to choose a competent strategy, and there is no shortage of mistakes, but persistence always wins.
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When consider to the developing or under developing country people,most of them was starving to get food for the day.They even hard to get their 3 day a meal.Some may get just getting two times of meal in a day.So average of they getting 60 times of meal instead of 90 times meal of the month.This was hard news to just hear,just imagine for just two minutes about it.It was unaccepted one,because we all earning for the meal money.But some one is not having for monthly meal fully is heart touching one.If you had full meal,kindly concentrate on the trading for your future.We are lazy about the savings,but it was essential one.And keep your savings in the bitcoin as compared to other cryptocurrencies for the safety and huge returns.
If all the money goes to food, how do you get out of poverty? Only with luck, credit, and smart investments. Without credit, it is almost impossible to change your life in this case. And investing in bitcoin now is unprofitable because it won't generate the returns it will in 2017 and 2021. And not everyone can afford to wait 3 or more years. |
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I believe that it is very early to bury paper money. Despite the fact that all monetary calculations now want to be controlled, people will still try to take some part of money out of control. And paper money is a good anonymous medium. In addition, not everywhere (e.g. underdeveloped countries) is able to use electronic money (e.g. Papua and Guinea, Guatemala, Peru).
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Business with friends can be successful, but they must be people who genuinely care about each other and want to move forward in life together. Keep in mind that money is a tricky thing. When a business becomes successful, friends often become enemies because there is something to share. So it all depends on the individual.
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Most crises are artificial. No one knows for sure if the state has a real gold reserve, or if we have unsecured paper on hand. How many of us have been to the state gold vault? Could it be empty? In my opinion, a crisis begins when it benefits the ruling elite to organize another rearrangement of the world.
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Majorly most of us may not be practicalizing the theories we were taught in school after graduation or in our day-to-day activities but there are numerous benefits one gets from going to higher education, one of them is that you will be versed in the application of things. Your reasoning will be advanced
Thinking can be developed without higher education. Now there are many online courses (some of them worthy) designed for absolutely different audiences. There you can get exactly the knowledge you need, not something that will never come in handy. As Sherlock Holmes said, the head is not an attic, so do not clutter it too much. |
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Poverty can be seen as a challenge for a person. A person with a strong character will be able to get out of poverty, because opportunities always appear. If a person breaks down, he will remain a beggar (and some people even like poverty, because you can earn money from people's pity). Or maybe poverty is punishment for sins in past lives? Then it is necessary to pass this test with dignity.
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In my personal opinion, invest when we are ready to invest, don't invest when we are not ready to fulfill our primary needs first, then we start investing because investment should not be arbitrary, investment must use idle money because investment assets will grow in the future.
I think it is very difficult to start investing but have not met our needs in life
Every person has different needs in life. Therefore, many people, no matter how much they earn, will never have money left to invest. Sooner or later the needs of life will lead to the destruction of all cash reserves. That's why smart investing is a necessity, otherwise you just can't survive. |
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easily involved in investment in any coin is not suitable way of earning but investigating about that coin prior to investment is necessary. Do you think that you can afford 80 percent of your saving? if yes then do it but in my opinion reduces your percentage and make it less than 50 percent so in this case you will be satisfy with your investment. I think you should not use large amount of money until your fear become disappear after getting experience about trading so first manage with little amount then increase it step by step but when you learn completely and understand the basics about trading.
Unfortunately, even excellent coin research can yield nothing. We see only the tip of the iceberg, we read a white paper (it may be well written, but the ideas in it are often utopian), we can study the development team in detail, but there is no guarantee that the team will not scatter or that the idea will be picked up by the mass |
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Good choice to decide less risk investment, your assets will be stay on your initial investment plan. Real Estate investement will be suitable for you.
But, you must be know that there are many new projects coming up and combining investment between real estate and crypto currency. they may be your option for combinations investement.
Real estate investments are not safe right now. The problem is that business is now moving into remote mode, which means you need fewer shopping centers, less office space. Inflation is also devaluing real estate investments. So there are plenty of risks here. |
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It is necessary to study trading as early as possible, because it is one of the ways to earn money remotely. At the same time successful trading can give a certain independence. Of course, when trading you should take into account possible risks and try to minimize them. There is risk everywhere, so financial literacy will help you to earn
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Investing has always been a risky endeavor, no matter where you invest. So don't invest until the last minute. Should I invest my retirement savings anywhere? If your age allows you to save more, you can take the risk. If not yet, it's worth thinking a thousand times over.
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Twenty dollars is an adequate amount to learn how to trade. Yes, the profit will be ridiculous, but the losses will be very insignificant. The main thing is to develop in yourself assiduity and patience, which will be very useful in the future. Another plus - you can work out the different trading schemes, and find your best strategy.
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You can live your whole life on credit, creating more and more debt. But who will pay for all this? The answer is your relatives. But do they deserve such a burden? Maybe it's better to moderate your desires - instead of an expensive vacation go to the woods, instead of a new smartphone just keep using the old one?
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When you lose money, you should understand that it is not the worst thing that can happen in life. The worst thing is terminal illness or death. That's why you should take a break for a while and disconnect from everything. Restoring your energy will help you deal with emotional issues and get in the right frame of mind.
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Since the world economy is interconnected, and there is no longer such a thing as everything needed being produced in one country, inflation in one country has an indirect effect on the economies of neighboring countries - and further down the chain. The problem is that it is still difficult to find measures to effectively reduce inflation
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