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Author Topic: How to save money on a long-term period  (Read 1055 times)
pobeditelvezde
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August 25, 2018, 02:35:57 PM
 #21

If you want to protect your own capital I am pretty sure that the best asset for you is government bonds. I would recommend you namely US government bonds where you can choose a special bond depending on your tasks and a period of time (2, 5, 10, 30 years). I do not like giving away any advice but your case is unique because you do not want to get incredible profit like most part of investors but you just want to protect and save your capital. I think your stance is very sensible. So, you may invest some part of your savings in gold but you have to understand that investing in gold is not a guarantee of safeguard. Look at silver this asset goes down last several years. What about industrial metals. it is obviously not because there is the strong downtrend in industrial metals.
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August 25, 2018, 02:49:07 PM
 #22

Saving is hard especially for those who are living paycheck to paycheck.
But, if you have the chance to save, in my opinion, you should put money into tangible ones such as property (real estate), businesses, precious metals (jewelry) and others, in which, their value increase thru time.
The OP already discussed so much advantages of those investments.
And it's up to your current situation where and how you will invest your money.
If you are not that well off, just live below your means. Even if you have small salary compared to others, you can still save something for yourself.

The people I know that claim to live "paycheck to paycheck" are usually the ones that buy unnecessary items, brand name clothing, overpriced cars, etc.

Most people just consume mindlessly, it's the culture we have built.  It's really not that difficult to slowly save up and accumulate wealth but most people don't have the patience and they want the instant gratification that consuming provides. 

Exactly, I really don't understand people trying to lived lavishly by buying lots of useless stuff just for bragging purposes only, expensive clothes, mobile phones and cars. But at the end of the day you will see that they have nothing left but pride.
Self made people that I know did live this way, not until they have accumulated so much wealth in years. They can afford those expensive material things, and I think they deserved them.

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August 25, 2018, 03:04:19 PM
 #23

Thanks for the advice, but for the long term I think it's worth investing in precious metals.
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August 25, 2018, 03:32:36 PM
 #24

Every body is investing on bitcoin to make money and it is better to invest the bitcoin on a long term period.The investor should find a good entry level for the long term investment and wait patiently and monitor regularly until its price to achieved to the investors target.The on line trading is little bit tedious and so the better option is the long term investment to make money .Bitcoin is a modern economy and found  suitable to the modern era.

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August 25, 2018, 03:48:40 PM
 #25

Saving is the essential one in our life now.Better choose of one best asset and keep your saving on it.It will gives you some profit for your savings.If you keep your savings in bank,you will get minimum of interest.If you had choose the bitcoin to inverse your money,you will get double or triple of the interest from the bank.And you should secure your wallet with some security setup such as 2FA.I think 2 factor Authentication is the best one.

Well, savings I guess is one of the most essential thing when regards to financial stability, and when it comes to long term savings I think one of the thing we must practice is that don't buy unnecessary things that you don't really need, AND you have to make your money grow, if it dont, eventually you will lose your money which we dont want to happen and to keep your self on balance make a certain goal that you want to achieve since goal is one of the things that make us straight way to the path that we want to reach.

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August 25, 2018, 11:58:41 PM
 #26

Thanks for the advice, but for the long term I think it's worth investing in precious metals.
Do you have any proof for this? Why invest in precious metals?

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August 26, 2018, 12:17:11 AM
 #27

But, if you have the chance to save, in my opinion, you should put money into tangible ones such as property (real estate), businesses, precious metals (jewelry) and others, in which, their value increase thru time.

I think if your investing money only in precious metals only for the purpose of making a profit then don't buy jewellery instead go for gold coins because your resell price will go down for jewellery. If your selling pure gold coin then you may get almost market price or slightly lower but for jewellery, they will cut a lot.

Thanks for the advice, but for the long term I think it's worth investing in precious metals.
Do you have any proof for this? Why invest in precious metals?

How long you're talking?

Look at this chart - https://goldprice.org/gold-price-history.html

If your talking about the last few years then your not making a profit but if you go longer like 10 years or more then you're still in a profit.
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August 26, 2018, 04:44:08 AM
 #28

Biggest spending I have found I was making was the luxury foods. By luxury I do not mean just ordering in a pizza (which is still more expensive than just eating at home in my country) but I mean going out to dinner somewhere. You can basically spend 4 days food worth of money on just one dinner somewhere. Hence, if I stay at home and not go out to dinner frequent I could save a lot more than I used to. You can still go out to have fun but just get a cup of coffee instead of eating out. That plus spending money on junk like chips and chocolate bars or whatever combined creates a huge cost for me.

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August 26, 2018, 06:26:58 AM
 #29

I have 3 option in saving money for long period of time like in bank,in our country wallet with fiat wallet and digital currency wallet then in my own house for my assurance in financial in life another thing i risk some in coinomi and in hardwallet with my btc and alts then some in trading site because i believe that we have future or btc and alts will grow more in future

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August 26, 2018, 06:57:20 AM
 #30

How to save money on a long-term period or an essay on black metal.
       This is the translation of my original article. The original is here:
https://bitcointalk.org/index.php?topic=4452770.0

I apologize for my English. This is not my native language and I have to use an automatic translator. But I think that you will understand my main thoughts.

Hello friends! Bitcoin is cool. I am an enthusiast of bitcoin and I hope for his growth. But periodically, all holders have to face problems. In this topic, I would like to share with you my idea (and experience) on how to keep the constant value of your money (and even multiply it by a percentage higher than inflation) over the long term. What do I mean by long-term? Period of time in the range from six months to several years and even up to tens of years. The latter is also possible (I think so), although, personally for me it is more of a theoretical interest.
Why is this relevant and how is it related to the cryptoworld? I think that you already guessed). It's wonderful to be a holder and a tractor) crypts on bull (and, especially, a long bull market), but from time to time come to us very different times. Yes, from time to time long bear markets come to us. As an exemplary example of such a market, you can cite the year 2014, when almost the whole year bitkoyn, and with it the rest of the crypt, basically fell.
       I foresee a similar scenario in the not-too-distant future; of course, after the cue ball is once again otzemunitsya (well, if it really happens).
       So, suppose that you are an investor with some margin of crypt. Let's say that you were able to correctly anticipate all the roller coaster growth and the beginning of the bearish crypt market. There are signs that this is serious and for a long time. You'll have to wait for turbulent times in fiat or its steeblechkan equivalents.
But!:
Will it be right to keep money in fiat on a long-term basis? (by default, we mean that the fall will be indefinitely - long, from six months to several years - the bitcoat cycles are stretched).
     Finite money for long-term storage has many drawbacks. Firstly, whatever they say, and Fiat - it's just pieces of paper and figures in the database (in the case of a non-cashier), not protected against rampant inflation (which, by the way, is very different from officially stated). Nobody and nothing can prevent the state from printing these pieces of paper and tsiferok as it deems necessary. A real example before our eyes is the depreciation of the ruble against the dollar in 2015 +/- 2 times and the subsequent price increase. In my opinion, only solid material assets (or bitkoyn can protect you from such devaluations, but it, as we agreed, in this case is in the hands of bears). Below I'll talk about this in more detail, and now a little about how I came to the conclusion about the effectiveness of saving funds in black metal. I came to this idea spontaneously - intuitively.
    In 2014, I thought about building a house with a garage, more precisely, first about the general extended foundation for them. For these purposes, I purchased a sufficient number of metal fittings. I bought with a decent amount of this excess, as I kept in mind another building object. After the construction of the foundation, the majority of the reinforcement remained, however, and the construction season was crumbling. For a while I forgot about my metal. He was lying on my plot in front of the future garage with a huge heap (tied up). I remembered about the valve only in 2015 after the devaluation of the ruble. And I was pleasantly surprised at the preservation of the value of my money))). I tried to test the remaining metal. After the announcement on Avito, several real sellers responded at once, which pleased me pleasantly. They were ready "right now" to buy up all of my armature.
Although the price I put even higher than the market ... it's by the way, eloquently speaks about the liquidity of black metal. This gave me serious food for thought and I ... changed my mind about selling, and used metal for construction on another of my real estate properties. But the very idea of ​​keeping the value in black metal, as they say, has deeply sunk into my soul. I realized that in this capacity, black metal, perhaps, would plug the belt and gold and real estate and, even more so, cash (there were crypto accumulations at the time, but no one knew how long this "exhausting flat" would last) . Before the next crisis in the crypt (the current one I do not consider a crisis), I plan to decently recoup with black metal. Most likely in the form of reinforcement, it can be profile and round pipes, most running sizes)
      And now let's compare in order the black metal as a means of preserving value with cash, gold, real estate and, for example, antiques).
      1.) Black metal and cash
1. "Internal Value" (hereinafter referred to as the consumer value). Cash has no intrinsic value; they are unable to perform functions other than exchange (for other money, assets or goods). That is, theoretically they can depreciate completely (a fantastic scenario, but nevertheless). Black metal can always be used for its intended purpose in construction.
2. Stability of value on the long-term. In the long term, Fiat is gradually depreciating, black metal is not. It, of course, can rust, but we mean responsible dry storage indoors. The joke is that my armature was lying open for several years. It is a bit rusted, but no one pays any attention to it, the cost is preserved).

3. Compactness
Black metal is not as compact as various forms of fiat money, but it is not necessarily seen as a drawback. But it's not so easy to steal it). Compare that it's easier to steal: a bundle of banknotes (crack non-cash money) or a ton of black metal))).

2.) Black metal and gold.
Gold has many of its forms, each of which is not very convenient for long-term storage:
Gold bars (hemorrhoids with banks, registration, difficulties in selling back, state monopoly and seller bank, unfair prices for you.) If you store gold in a bank, you pay decently for storing your gold, as a result your savings melt)
- Investment coins. Again, you will trade with the bank in a way that is not profitable for you, because you are in unequal relations with it.
- Jewelry. The problem with the sale. There is no uniformity, each product is unique. A substantial part of the price contains the work of a jeweler, which your buyer can evaluate.
- Various forms of non-material gold ("paper gold", assets tied to gold, various derivatives on / from it) Intangibles here are the main minus.
Gold loses to black metal in practical use. In the regulation and limitations of its turnover. In too great a variety of forms and the absence of rigid unification (which could have a positive effect on liquidity)

3.) Black metal and real estate
Real estate loses to black metal:
1. The need to register transactions in a specially created for this purpose state institution
2. Real estate objects are too diverse and not uniform, which can make their sale more difficult. Each property is unique in its own way.
3. Black metal has a "volume flexibility". You can buy a little more or a little less in a fairly large range. The real estate object needs to either buy in its entirety or not buy at all ("take what is given")
4. Black metal is mobile)
5. Buying a property you "buy" and neighbors and infrastructure that may wish for the best and with what (and with whom) you have to put up. With black metal, this is not necessary.

4.) Black metal and antiques
Antiques can be uncomfortable for a novice investor. In it it is necessary to understand. It takes years to develop competence. This is a separate occupation. Again, internal heterogeneity and a huge variety of antiques can affect liquidity. In regions and small towns this direction may be undeveloped (and most likely not developed). The practical importance of black metal is much higher than that of antiques. I think that in a crisis this is manifested more strongly.
 So, I briefly outlined the prospects for investing in ferrous metal. We can say that this is one of the ideal instruments that hedge the risks of crypto currency. But does black metal have drawbacks? Unfortunately - yes, more precisely, I would say, features. More precisely, I see only one feature - a disadvantage. For a resident of a city, especially a large one, owning an asset such as ferrous metal may not be very convenient). All the same, you need a garage, or some kind of storage space on the property rights or opportunities for free access. Friends, that's all. Write how you wait for the bearish long-term markets)




Save money is actually better for the future of our  family, but it depends upon the situation because not all people have enough money save sometimes it is enough for the daily needs, but because of bitcoin we have a big possibilities to do saving if the price back to rise again but now I'm still waiting for a good chances I would stay away first  from "SAVINGS THAT YOU MENTIONED". 


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August 26, 2018, 07:51:01 AM
 #31

How does the hoarding of ferrous metals like Steel, Carbon Steel, Alloy Steel, Cast Iron, Wrought Iron, Aluminum, Copper and Lead have anything to do with Bitcoin? You know Bitcoin cannot rust and it takes no physical storage space and you do not have to bother with rodents being attracted to your storage facility, because you have large amounts of items that are stored over a long period. <This will also require additional security to guard these metals at your storage facility>

You are also restricted, based on the size of this storage facility. There are no limit to the amount of bitcoins and the value of these bitcoins that you can hoard on a single piece of paper.  Cool


Agree, that's harder than expected, but storing millions of dollars bitcoin securely is very easy and I think in terms of investment, bitcoin is clearly better asset now.

Well, I will not define it as an asset, even though Wikipedia says in financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset.

I tell you, if you approach most people on the street and you ask them if they would rather store 1 million dollar worth of bitcoins in a paper wallet or a whole warehouse full of metals, then most might say that they would opt for the paper wallet.  Roll Eyes It is much less trouble and effort to store a paper wallet. <You just need to explain the paper wallet to these people first, because this is a new concept that are not broadly known>

Getting people to understand bitcoin in general can be difficult especially those
who are already skeptical and who dont want to move away from conventional
FIAT saving.

Long term FIAT saving is counter productive because in the long
term the value is falling due to inflation, $100 in 20 years time will buy less than
today. There is the option to invest in special saving schemes for fixed terms in
banks these have good returns but come with risk which means placing a degree
of trust in the banks - something which goes against the idea of bitcoin.

There are other assets which can be good for a long term saving, books, numismatics,
Vinyl records or anything with a supply and demand feature. These can all be
included in a long term saving plan portfolio including bitcoin.

And they are not coing to take up massive amounts of space

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August 26, 2018, 07:51:18 AM
 #32

How to save money on a long-term period or an essay on black metal.
       This is the translation of my original article. The original is here:
https://bitcointalk.org/index.php?topic=4452770.0

I apologize for my English. This is not my native language and I have to use an automatic translator. But I think that you will understand my main thoughts.

Hello friends! Bitcoin is cool. I am an enthusiast of bitcoin and I hope for his growth. But periodically, all holders have to face problems. In this topic, I would like to share with you my idea (and experience) on how to keep the constant value of your money (and even multiply it by a percentage higher than inflation) over the long term. What do I mean by long-term? Period of time in the range from six months to several years and even up to tens of years. The latter is also possible (I think so), although, personally for me it is more of a theoretical interest.
Why is this relevant and how is it related to the cryptoworld? I think that you already guessed). It's wonderful to be a holder and a tractor) crypts on bull (and, especially, a long bull market), but from time to time come to us very different times. Yes, from time to time long bear markets come to us. As an exemplary example of such a market, you can cite the year 2014, when almost the whole year bitkoyn, and with it the rest of the crypt, basically fell.
       I foresee a similar scenario in the not-too-distant future; of course, after the cue ball is once again otzemunitsya (well, if it really happens).
       So, suppose that you are an investor with some margin of crypt. Let's say that you were able to correctly anticipate all the roller coaster growth and the beginning of the bearish crypt market. There are signs that this is serious and for a long time. You'll have to wait for turbulent times in fiat or its steeblechkan equivalents.
But!:
Will it be right to keep money in fiat on a long-term basis? (by default, we mean that the fall will be indefinitely - long, from six months to several years - the bitcoat cycles are stretched).
     Finite money for long-term storage has many drawbacks. Firstly, whatever they say, and Fiat - it's just pieces of paper and figures in the database (in the case of a non-cashier), not protected against rampant inflation (which, by the way, is very different from officially stated). Nobody and nothing can prevent the state from printing these pieces of paper and tsiferok as it deems necessary. A real example before our eyes is the depreciation of the ruble against the dollar in 2015 +/- 2 times and the subsequent price increase. In my opinion, only solid material assets (or bitkoyn can protect you from such devaluations, but it, as we agreed, in this case is in the hands of bears). Below I'll talk about this in more detail, and now a little about how I came to the conclusion about the effectiveness of saving funds in black metal. I came to this idea spontaneously - intuitively.
    In 2014, I thought about building a house with a garage, more precisely, first about the general extended foundation for them. For these purposes, I purchased a sufficient number of metal fittings. I bought with a decent amount of this excess, as I kept in mind another building object. After the construction of the foundation, the majority of the reinforcement remained, however, and the construction season was crumbling. For a while I forgot about my metal. He was lying on my plot in front of the future garage with a huge heap (tied up). I remembered about the valve only in 2015 after the devaluation of the ruble. And I was pleasantly surprised at the preservation of the value of my money))). I tried to test the remaining metal. After the announcement on Avito, several real sellers responded at once, which pleased me pleasantly. They were ready "right now" to buy up all of my armature.
Although the price I put even higher than the market ... it's by the way, eloquently speaks about the liquidity of black metal. This gave me serious food for thought and I ... changed my mind about selling, and used metal for construction on another of my real estate properties. But the very idea of ​​keeping the value in black metal, as they say, has deeply sunk into my soul. I realized that in this capacity, black metal, perhaps, would plug the belt and gold and real estate and, even more so, cash (there were crypto accumulations at the time, but no one knew how long this "exhausting flat" would last) . Before the next crisis in the crypt (the current one I do not consider a crisis), I plan to decently recoup with black metal. Most likely in the form of reinforcement, it can be profile and round pipes, most running sizes)
      And now let's compare in order the black metal as a means of preserving value with cash, gold, real estate and, for example, antiques).
      1.) Black metal and cash
1. "Internal Value" (hereinafter referred to as the consumer value). Cash has no intrinsic value; they are unable to perform functions other than exchange (for other money, assets or goods). That is, theoretically they can depreciate completely (a fantastic scenario, but nevertheless). Black metal can always be used for its intended purpose in construction.
2. Stability of value on the long-term. In the long term, Fiat is gradually depreciating, black metal is not. It, of course, can rust, but we mean responsible dry storage indoors. The joke is that my armature was lying open for several years. It is a bit rusted, but no one pays any attention to it, the cost is preserved).

3. Compactness
Black metal is not as compact as various forms of fiat money, but it is not necessarily seen as a drawback. But it's not so easy to steal it). Compare that it's easier to steal: a bundle of banknotes (crack non-cash money) or a ton of black metal))).

2.) Black metal and gold.
Gold has many of its forms, each of which is not very convenient for long-term storage:
Gold bars (hemorrhoids with banks, registration, difficulties in selling back, state monopoly and seller bank, unfair prices for you.) If you store gold in a bank, you pay decently for storing your gold, as a result your savings melt)
- Investment coins. Again, you will trade with the bank in a way that is not profitable for you, because you are in unequal relations with it.
- Jewelry. The problem with the sale. There is no uniformity, each product is unique. A substantial part of the price contains the work of a jeweler, which your buyer can evaluate.
- Various forms of non-material gold ("paper gold", assets tied to gold, various derivatives on / from it) Intangibles here are the main minus.
Gold loses to black metal in practical use. In the regulation and limitations of its turnover. In too great a variety of forms and the absence of rigid unification (which could have a positive effect on liquidity)

3.) Black metal and real estate
Real estate loses to black metal:
1. The need to register transactions in a specially created for this purpose state institution
2. Real estate objects are too diverse and not uniform, which can make their sale more difficult. Each property is unique in its own way.
3. Black metal has a "volume flexibility". You can buy a little more or a little less in a fairly large range. The real estate object needs to either buy in its entirety or not buy at all ("take what is given")
4. Black metal is mobile)
5. Buying a property you "buy" and neighbors and infrastructure that may wish for the best and with what (and with whom) you have to put up. With black metal, this is not necessary.

4.) Black metal and antiques
Antiques can be uncomfortable for a novice investor. In it it is necessary to understand. It takes years to develop competence. This is a separate occupation. Again, internal heterogeneity and a huge variety of antiques can affect liquidity. In regions and small towns this direction may be undeveloped (and most likely not developed). The practical importance of black metal is much higher than that of antiques. I think that in a crisis this is manifested more strongly.
 So, I briefly outlined the prospects for investing in ferrous metal. We can say that this is one of the ideal instruments that hedge the risks of crypto currency. But does black metal have drawbacks? Unfortunately - yes, more precisely, I would say, features. More precisely, I see only one feature - a disadvantage. For a resident of a city, especially a large one, owning an asset such as ferrous metal may not be very convenient). All the same, you need a garage, or some kind of storage space on the property rights or opportunities for free access. Friends, that's all. Write how you wait for the bearish long-term markets)


Too long; did not read.
I just want to share my thoughts regarding saving for long term. Since when I was in college, I have practiced saving a little portion of my allowance and until now I can still apply it.  From the salary I get from my job, I save them in banks or in my digital wallet, I can even convert it to btc or eth. Right now, I have saved for like more than 800 usd, maybe that is low but I will keep on saving.

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August 26, 2018, 08:08:36 AM
 #33

If you want to save your money for long term. So you can buy some bitcoin or others crypto from online exchange market. For hold your money long term you will be profitable in future.
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August 26, 2018, 08:17:44 AM
 #34

Don't save your fiat money for too long period because the value of fiat keeps decreasing day by day due to inflation,if we want to increase the amount we need to invest on to something or can just convert all the money into gold which is one of the safest investment but non profitable most of the times.

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August 26, 2018, 04:27:55 PM
 #35

How to save money in the long run could be by way of invested money in order to get results in one time, can also be stored with the shape of the goods such as gold because it can be sold at anytime and can be sold at any time and the price certainly will always go up gradually.

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August 26, 2018, 04:37:17 PM
 #36

Good stuff to read dude,its worth spending time but this only applicable for those who may take time to read the article from start to the last part since it was very usable in our daily lives.i am saving this as a reference for my own befits.thanks for this one budz

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August 26, 2018, 04:38:55 PM
 #37

Berinvestasi cara yg sangat bagus apakah itu bersifat coin.emas.perak.atau tanah..yg pada dasarnya tidak pernah rugi mungkin saja bisa di investasi kan di bitcoin..

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August 26, 2018, 10:55:48 PM
 #38

you need business to maintain your have you have also you need a bank account if you have business surely you can take some profits


Saving a small percentage of your income monthly will surely help you save money for a long-term period. Saving money with a goal of how much or for what the money is for, will help you become motivated to save. Also investments will help as long as the investment is good.
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August 26, 2018, 11:56:06 PM
 #39

Simple. If you engage to cryptocurrencies then you did that too.spending long time invested from cryptocurrencies is good for you.
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August 27, 2018, 02:12:22 AM
 #40

I have different way of  saving my money for long term period as what OP has told,but i know that many of cryptonians are doing the same.

Every pay day i am buying one crypto coin or token using my 10% of compensation,from this i gathered already 40% bitcoin 20% ethereum and the 40% goes to different coins and tokens of my choice f.

For me this is the proper way to sage our money for long term,HOLDING coins/tokens is not just saving instead it goes with profit also upon holding


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