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Now that I know your trust ratings review are not wrong. Thanks for your valuable words. I will take them as references to adjust my investment plan. To be honest, I do not have a clear strategy with my money at the moment. I randomly put money to bitcoin or altcoins but do not have those "stocked away 10% of my income into investments" or "$10 per week" ideas. Besides, I usually trade on the reserved bitcoin for long term. I was right to join this forum. Again, thank you.
I was listening to a radio program (it was on a podcast), but they were talking about how to deal with our current uncertain economic/financial times, and surely there can be difficulties giving any broad stroke principles that will work for everyone, and even though I have been thinking about these kinds of personal savings/investing matters for more than 30 years, I will come across ways of framing the strategies and tactics matters that intrigue me in terms of whether I should either think about some of my own matters differently, or do these times require different ways of thinking about or framing personal financial strategies, tactics, preparation matters.
Sometimes any general principles are going to feel real abstract until you try to apply them to your own situation and to try to practice them over an extended time, and really you can learn a lot about the strategies by attempting to apply them to yourself and then thinking about whether the strategies are working for you and whether you are well enough disciplined to even attempt to stick to a strategy that you are trying to apply to yourself.
There was one lady on the program that I was listening to, and she mentioned a 50/30/20 rule, and I had never heard of such a way of framing the matter. She said that 50% of income would be sent towards needs and 30% towards wants and 20% towards savings, investing or preparation matters, and I am thinking that might still be a similar thing to what I do, too... even if I said 10% towards investing, sometimes if we are making sure that our cashflow is in order and even that we have emergency funds set aside, that could take up a decent amount of our cashflow that goes beyond 10%, so 20% could be a reasonable way of considering that whole category or preparations and investing.
I do try to attempt to understand that there are some people who are really in a kind of poverty, so they barely can consider their finances in terms of needs, wants and savings, because almost everything that they get has to go towards needs, but I really doubt that many people who actually participate in a thread like this cannot at least eek out some kind of categorization of how they are spending their money to figure out ways that they are both prepared for emergencies and are able to stock away a bit of value on the side in order to put some of that into bitcoin, even at something like a $10 a week level or some other relatively modest amount. Yeah, maybe some weeks you are NOT able to stock away $10, but there will be other weeks that maybe you get an extra $300 that you did not expect, so in that regard, you might consider that you can put a decent portion of that into bitcoin on that particular week and that otherwise all of your expenses are accounted for, so that $300 is just extra money.
So, yeah, I do not want to repeat myself, but it is really worth emphasizing that if you engage in a plan that is really modest and you have really worked out your cashflow so that you are really prepared for a lot of matters, including that maybe you are going to want to buy a playstation because you personally consider such playstation to be essential to your own psychology/well being, then surely if you have been preparing and stacking for a considerable amount of time, you also might have a stack of value that is somewhere that you can draw from those emergency funds, rather than considering your BTC stash as if it were an emergency fund, when instead probably BTC should be considered as further down the list of emergency fund stashes after you have exhausted your other stashes that you had been diligently building over the years.
By the way, most of us do not just get from zero emergency funds to having a flexible stash of emergency funds until we have been building such for a decently long period of time and maybe even that we had already screwed up such emergency funds on a few occasions, but if we are at least trying to make progress in learning from our mistakes, there will come some points in the future that we will be able to feel comfortable with our emergency funds and we are not just continuing to make the same mistakes over and over.. and by the time we get into our 50s or 60s we do not have any built up funds, which seems like it would not be a good place to be... even though there are some people who live in such a way that they are bound to be struggling when they are in their 50s and 60s because they never seem to be building anything.
Surely, I am not trying to lecture you, Raytheon because I understand that these kinds of matters can take a real long time to work out, and there are a lot of members who participate in this thread who either are currently going through some similar kind of situation as you, or they have gone through similar kinds of struggles - including yours truly.
Oh, by the way, there are quite a few members, here, who have discussed that they have a practice that allows them to fuck around with trading bitcoin, but they have another portion of their stash that they continue to just try to build, so every once in a while they will put more value into that extra side stash that they do not plan to touch for a long time or under only very limited dire circumstances, such as impending death or some other kind of really extreme scenario (that hopefully goes way beyond merely having to quarantine or the continuing ongoing uncertain economic circumstances around this virus situation.. of course, if you catch the virus yourself and you are on a ventilator, then maybe the dire emergency circumstances have triggered).
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