What are some financial secrets that you know of?

[JayJuanGee]

This is the most simple and 100% working method. And yes it's boring and need a lot of time.

I don't consider that method boring. Because making an investment decision is not boring, it requires calculation, checking all the risk measures, and trying to figure out how they can be minimized. After doing that, you will definitely be doing some research on when it will be the right time to pull out your investment and take home some profit, which is also one of the most important parts as the reason for investing is to make profit, and when your first investment has actually yielded a profit, one also still needs to study the market, either the stock market or the digital market, in order to know when it will be the right time to enter back and expect a fruitful harvest in the next harvest season. So the process of planning all of this doesn't look boring to me, as one will have to study and make some decisions that will contribute to the level of success they could possibly achieve.

If we are considering bitcoin to be in the mix of investments, it seems to me that framing our dilemma in terms of pulling out and getting back in does not seem to be a good idea.

One of the first things to consider is to figure out how much you need, and then continue to build towards getting how much you need and perhaps more than you need, and then once you have reached what you need or more than you need, then you will have more flexibility in terms of figuring out how much you might pull out in order to offset large price swings, and hopefully once you figure out how much you need, you will be careful in regards to going back below how much you need in the event that you are even willing to take those kinds of gambles at all.

There are likely some other kinds of investments that you are mostly just building (just like in bitcoin) and mostly not selling, even if you might shave some off from time to time, whether referring to properties, equities, commodities, or cash equivalents (like bonds).

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[Nwada001]

If we are considering bitcoin to be in the mix of investments, it seems to me that framing our dilemma in terms of pulling out and getting back in does not seem to be a good idea.

One of the first things to consider is to figure out how much you need, and then continue to build towards getting how much you need and perhaps more than you need, and then once you have reached what you need or more than you need, then you will have more flexibility in terms of figuring out how much you might pull out in order to offset large price swings, and hopefully once you figure out how much you need, you will be careful in regards to going back below how much you need in the event that you are even willing to take those kinds of gambles at all.

There are likely some other kinds of investments that you are mostly just building (just like in bitcoin) and mostly not selling, even if you might shave some off from time to time, whether referring to properties, equities, commodities, or cash equivalents (like bonds).

You are correct on that, as one of the best ways for an investor to succeed is to take their minds off selling at every given time and instead focus on how much could be accumulated and how to reach those targets. This is exactly where my explanation comes in. I do believe the time spent figuring out how to accumulate more should be accumulated and when to pull out some in order to offset large price swings is never considered a boring moment, as one needs to be busy calculating and also putting their decision into practice.

[Furious 7]

Be inquisitive with effort, not every day we always succeed in our financial ambitions so it is better to study everything that will make it grow. Avoid things that you know will ruin your finances such as debt, and fancy things. Make progressive use of your finances such as finding things you can invest in. But always remember that even if we lose, don't lose hope in life's trials especially financially.

Studying every opportunity is very good but on the other hand this will also be a condition where you will only be busy studying every business pattern and theory but not with action because you are confused about which option you will choose considering the many opportunities studied.
I personally prefer the pleasure factor in doing work, when I am happy with one field then I will study it so that I can generate feedback from it.
For example, I like work related to management and I will study it so that I can compete with others and as much as possible I must be superior.
On the other hand, I also like the perspective on investment and I am looking for investments that I think are good so that it brings me to bitcoin and I study it so that I am not disappointed in my favorite. and until now I still feel that my favorite is not wrong because the rl work that I am engaged in and my investment can still be said to be running smoothly.

[BigBos]

This is the most simple and 100% working method. And yes it's boring and need a lot of time.

I don't consider that method boring. Because making an investment decision is not boring, it requires calculation, checking all the risk measures, and trying to figure out how they can be minimized. After doing that, you will definitely be doing some research on when it will be the right time to pull out your investment and take home some profit, which is also one of the most important parts as the reason for investing is to make profit, and when your first investment has actually yielded a profit, one also still needs to study the market, either the stock market or the digital market, in order to know when it will be the right time to enter back and expect a fruitful harvest in the next harvest season. So the process of planning all of this doesn't look boring to me, as one will have to study and make some decisions that will contribute to the level of success they could possibly achieve.

IMO, when you do something like this, even though it sounds good, it is more risky.
It's great if you make the right moves when you enter and exit but we can't eliminate the worst case scenario where you exit your investment and expect the price to go down but the opposite happens.
Doing research by looking at the indicators doesn't mean it will be completely correct as it just goes back to speculation but the results have 2 possibilities of being right or wrong.
I think it is better to leave the investment we have there as long as the target you want to aim for has not succeeded and make additions when the price has decreased and it is suitable to make purchases to reinvest.

[Cryptomultiplier]

If we are considering bitcoin to be in the mix of investments, it seems to me that framing our dilemma in terms of pulling out and getting back in does not seem to be a good idea.

One of the first things to consider is to figure out how much you need, and then continue to build towards getting how much you need and perhaps more than you need, and then once you have reached what you need or more than you need, then you will have more flexibility in terms of figuring out how much you might pull out in order to offset large price swings, and hopefully once you figure out how much you need, you will be careful in regards to going back below how much you need in the event that you are even willing to take those kinds of gambles at all.

There are likely some other kinds of investments that you are mostly just building (just like in bitcoin) and mostly not selling, even if you might shave some off from time to time, whether referring to properties, equities, commodities, or cash equivalents (like bonds).

You are correct on that, as one of the best ways for an investor to succeed is to take their minds off selling at every given time and instead focus on how much could be accumulated and how to reach those targets. This is exactly where my explanation comes in. I do believe the time spent figuring out how to accumulate more should be accumulated and when to pull out some in order to offset large price swings is never considered a boring moment, as one needs to be busy calculating and also putting their decision into practice.

Besides accumulated assets, one financial secret that have brought fortune to some persons I know is to purchase assets that can easily be sold off in distress times when the temptation to dip one's hand into an investment portfolio arises.
Assets like physical properties, diamond, gold investment, precious metals/ornaments. If having such is accompanied with having a steady DCA crypto portfolio, I don't think anyone would fall into any huge financial trap when there's always a window as these out of the scenerio.

[rachael9385]

If we are considering bitcoin to be in the mix of investments, it seems to me that framing our dilemma in terms of pulling out and getting back in does not seem to be a good idea.

One of the first things to consider is to figure out how much you need, and then continue to build towards getting how much you need and perhaps more than you need, and then once you have reached what you need or more than you need, then you will have more flexibility in terms of figuring out how much you might pull out in order to offset large price swings, and hopefully once you figure out how much you need, you will be careful in regards to going back below how much you need in the event that you are even willing to take those kinds of gambles at all.

There are likely some other kinds of investments that you are mostly just building (just like in bitcoin) and mostly not selling, even if you might shave some off from time to time, whether referring to properties, equities, commodities, or cash equivalents (like bonds).

You are correct on that, as one of the best ways for an investor to succeed is to take their minds off selling at every given time and instead focus on how much could be accumulated and how to reach those targets. This is exactly where my explanation comes in. I do believe the time spent figuring out how to accumulate more should be accumulated and when to pull out some in order to offset large price swings is never considered a boring moment, as one needs to be busy calculating and also putting their decision into practice.

Everyone is right on there own thoughts, as an investor who puts his/her money on an investment, your mind must be on that investment or the capital it self not the profits, hope you get my point? The capital because is the hard earned money the investor used to invest, not the profits because the investor is not well assured of it, but keeping your mind away from selling your coins is very very important thing to partake, holding your coins makes the profits more bigger for a proper time to sell, it might be tempting to sell your coins if that's the first time for the investor to join the crypto world.

[chrisculanag]

Be inquisitive with effort, not every day we always succeed in our financial ambitions so it is better to study everything that will make it grow. Avoid things that you know will ruin your finances such as debt, and fancy things. Make progressive use of your finances such as finding things you can invest in. But always remember that even if we lose, don't lose hope in life's trials especially financially.

Studying every opportunity is very good but on the other hand this will also be a condition where you will only be busy studying every business pattern and theory but not with action because you are confused about which option you will choose considering the many opportunities studied.
I personally prefer the pleasure factor in doing work, when I am happy with one field then I will study it so that I can generate feedback from it.
For example, I like work related to management and I will study it so that I can compete with others and as much as possible I must be superior.
On the other hand, I also like the perspective on investment and I am looking for investments that I think are good so that it brings me to bitcoin and I study it so that I am not disappointed in my favorite. and until now I still feel that my favorite is not wrong because the rl work that I am engaged in and my investment can still be said to be running smoothly.

This can really give a good results to the investment I want, whether it's a business or a job. If I apply this process in to my plan it will be more progressive. You are also right that it is better to love what you plan to enter than to study what you know you don't really like. Studying and having experience in those things also helps those who don't know anything yet. In my past i work as a construction worker and had many other offline jobs and now its far away from what I am.

Right now I am able to grow my financial assets through what I have learned from others and ofcourse also through my own investment and trading studies. Little by little only but i know someday will be more.

[JayJuanGee]

[edited out]

Besides accumulated assets, one financial secret that have brought fortune to some persons I know is to purchase assets that can easily be sold off in distress times when the temptation to dip one's hand into an investment portfolio arises.
Assets like physical properties, diamond, gold investment, precious metals/ornaments. If having such is accompanied with having a steady DCA crypto portfolio, I don't think anyone would fall into any huge financial trap when there's always a window as these out of the scenerio.

Careful when you suggest that having some kind of a bullshit portfolio that has an amorphous allocation into something called crypto is going to give you very much ability to sleep soundly.

The ONLY one that works for DCA is BTC - because there needs to be fundamental value if you are going to justify DCAing.

On the other hand, if you specify exactly what you are holding that constitutes Crypto, then maybe that would be helpful.   I would suggest 80% to 90% of crypto is in bitcoin, and then if you are suggesting some other amorphous crypto that you are going to hold, you better say which one, because there is no such thing as "crypto" even though some funds are set up to try to diversify across various "crypto" assets and some of them might even reallocate based on some kind of a formula, but it is still nonsense unless you specify what the fuck you are talking about when you use the word "crypto"... are you talking about bitcoin, and if you are allocating to anything else, then which ones?  And what kinds of allocation levels?  hopefully not very much, unless you have some kind of a specific reason and also perhaps some active management that might involved getting out of some of those non-bitcoin cryptos based on some fairly specific reasonings.

Maybe you like the idea of investing into "crypto" because you have that dumb idea in your user name?  so you believe it is a valid investment category? as contrasted to its more likely vagueness and confusion creating attributes.

[buwaytress]

Not so.much a secret but poorly understood in my country of origin and of residence: the state guarantees qualified bank deposits up to a certain amount, per bank. Remember last year, a survey was done in my country of residence (supposedly high financial literacy) and fewer than half of respondents knew this, even fewer know the amounts.

Bitcoiner here, but I believe in spreading my risk if you have dependents.

[Mr.suevie]

[edited out]

Besides accumulated assets, one financial secret that have brought fortune to some persons I know is to purchase assets that can easily be sold off in distress times when the temptation to dip one's hand into an investment portfolio arises.
Assets like physical properties, diamond, gold investment, precious metals/ornaments. If having such is accompanied with having a steady DCA crypto portfolio, I don't think anyone would fall into any huge financial trap when there's always a window as these out of the scenerio.

Careful when you suggest that having some kind of a bullshit portfolio that has an amorphous allocation into something called crypto is going to give you very much ability to sleep soundly.

The ONLY one that works for DCA is BTC - because there needs to be fundamental value if you are going to justify DCAing.

On the other hand, if you specify exactly what you are holding that constitutes Crypto, then maybe that would be helpful.   I would suggest 80% to 90% of crypto is in bitcoin, and then if you are suggesting some other amorphous crypto that you are going to hold, you better say which one, because there is no such thing as "crypto" even though some funds are set up to try to diversify across various "crypto" assets and some of them might even reallocate based on some kind of a formula, but it is still nonsense unless you specify what the fuck you are talking about when you use the word "crypto"... are you talking about bitcoin, and if you are allocating to anything else, then which ones?  And what kinds of allocation levels?  hopefully not very much, unless you have some kind of a specific reason and also perhaps some active management that might involved getting out of some of those non-bitcoin cryptos based on some fairly specific reasonings.

Maybe you like the idea of investing into "crypto" because you have that dumb idea in your user name?  so you believe it is a valid investment category? as contrasted to its more likely vagueness and confusion creating attributes.

Sir, I have also had this problem of relating specifically Bitcoin to the general word crypto although I don't about this particular user and what he is trying to say but I feel he would be talking about Bitcoin and it's just that many users don't really get the confusion when they actually use the general word "crypto" to specify to a particular assest and I myself also got corrected by you and since then I have very careful In using the word so as not to show out the intention of me actually holding some of those shitcoins out there when I occasionally use the word crypto instead if Bitcoin.

[YUriy1991]

Everyone is right on there own thoughts, as an investor who puts his/her money on an investment, your mind must be on that investment or the capital it self not the profits, hope you get my point? The capital because is the hard earned money the investor used to invest, not the profits because the investor is not well assured of it, but keeping your mind away from selling your coins is very very important thing to partake, holding your coins makes the profits more bigger for a proper time to sell, it might be tempting to sell your coins if that's the first time for the investor to join the crypto world.

I think we all here need to sit back and relax with BTC and use it everyday until this revolution reaches its highest stage. Talk about capital and how to invest in BTC so that it is optimal. Yes, with DCA. DCA will help you be disciplined when you buy more units, when the price goes down and less when the price goes up. This will make it easier for us to make investment decisions and avoid emotional decisions and one more thing, never ask for advice/references on the Internet, because we run the risk of being scammed and that's not what we want, right?

So the question here is are we ready to carry out the DCA strategy and be consistent, regardless of rising or falling prices, regardless of economic conditions?

[CageMabok]

You're right there, as long as debt is the talk because it will further bury us in poverty. We know that there are loans that are almost sharks if they pile up interest. So if we really plan to build a business or invest, it's better to have financial resources ready for it so that if the loss comes, you can handle it without stressing about where to get someone to pay for it.

Usually what makes someone slow in opening a business is the length of time to prepare financial resources when someone doesn't want to be stuck with debt or loans. Actually, the length of time to collect capital to open a business is not a problem, it's just that it encourages some people to invite one of their friends who also wants to develop the same business. So that they can immediately collect their respective capital to run a business even though in the end they will part ways honorably when their business is advanced.

So no matter what happens in life, we should be ready to accept it because we know that we are the only ones who should provide a solution to it. Just try and try especially when it comes to growing financial assets because it works better than just keeping it in a trunk that doesn't do any good. Then study until we get the right process to grow our finances.

Trying something is always better than sitting around doing nothing, because experience and knowledge are not gained by being idle or by storing money that will not grow at all in a vault. Because we can all see the people who have been successful from various kinds of businesses in this world where they are basically always struggling and moving by implementing different efforts before they become big bosses in their own business. So I agreed to keep trying and working process after process to become more successful.

[benalexis12]

Hey everyone. What are some of your wealth secrets that you could share with us?

Buying homes with cash and taking loans out on it?

Setting up trust funds in foreign countries and setting offshore corporations to avoid capital gains and taxation? (Sorry tax avoidance for any LEO reading this)

What are your secrets?

I don't have a secret in life, I'm just a simple person living a noble life in this generation. I am able to survive in a simple lifestyle and part of my crypto business and traditonal business as well.
and there are other sideline incomes that can help me to support the family that I have now, because if I wont do it, my family will get starve,you know what I mean.

[Dr.Bitcoin_Strange]

 DCA will help you be disciplined when you buy more units, when the price goes down and less when the price goes up. This will make it easier for us to make investment decisions and avoid emotional decisions and one more thing, never ask for advice/references on the Internet, because we run the risk of being scammed and that's not what we want, right?

So the question here is are we ready to carry out the DCA strategy and be consistent, regardless of rising or falling prices, regardless of economic conditions?

Although I can't tell how much money anyone has in reserve to keep on accumulating their Bitcoin, if one is consistent in accumulating Bitcoin, depending on how frequently they buy, maybe daily, weekly, or monthly, I think there is a limit to when the BTC price will fail, and you will just have to drop the DCA strategy first and just buy up enough fraction of Bitcoin with your reserved funds (depending on what you want).


An example of what I mean is that, let's say you have up to $8k and you wish to buy Bitcoin with all that Capital, but you keep accumulating weekly with $200 and you believe that Bitcoin can go down to $25k, but instead of the $25k, it falls to $22k. At that point, instead of still continuing with the DCA, you can just use all (or 90%) your remaining capital to buy up Bitcoin at that price because, as you can't tell, the market can also take a big spike from the low price that it fell to and jump to a high price. Perhaps the market is always volatile.


So, all I'm saying is that there's some low price you will experience, and you might just let go of DCA and buy up at once, because definitely buying at that low price will still earn you a lot of profit if the market begins to experience a bull run.

[Litzki1990]

Since you mentioned privacy no one will share their secret here. Because privacy is yours alone. In the case of house construction, he builds his house according to his ability. If someone has enough money then he will never take a loan to build a house and try to build a house with his own money but the person who has limited money to build a house he cannot complete the construction of a house with the amount of money he has. Can build house with loan. It is better to build a business with that money than to build a luxury house. Because if a system can be properly wired then it is possible to fulfill many other dreams from that business in the future not only the house. So money should be spent according to specific plan without spending money unnecessarily.

[rachael9385]

Everyone is right on there own thoughts, as an investor who puts his/her money on an investment, your mind must be on that investment or the capital it self not the profits, hope you get my point? The capital because is the hard earned money the investor used to invest, not the profits because the investor is not well assured of it, but keeping your mind away from selling your coins is very very important thing to partake, holding your coins makes the profits more bigger for a proper time to sell, it might be tempting to sell your coins if that's the first time for the investor to join the crypto world.

I think we all here need to sit back and relax with BTC and use it everyday until this revolution reaches its highest stage. Talk about capital and how to invest in BTC so that it is optimal. Yes, with DCA. DCA will help you be disciplined when you buy more units, when the price goes down and less when the price goes up. This will make it easier for us to make investment decisions and avoid emotional decisions and one more thing, never ask for advice/references on the Internet, because we run the risk of being scammed and that's not what we want, right?

So the question here is are we ready to carry out the DCA strategy and be consistent, regardless of rising or falling prices, regardless of economic conditions?

Yes we are ready, I speak for my self because I know my self better than anyone may know, Bitcoin revolution is increasing day after days because of its value today and future purpose, a lot of people are beginning to hold their coin, especially investors on the forum we don't look at the DOLLAR COST AVERAGING (DCA) because we are all hoping for a positive return, also any investor who will go out to seek for investment advice is giving those scammers out there a multiple Chance to misinform his or her asset's, I rather do more learning and gathering plenty informations before joining any investment.

[dothebeats]

Since you mentioned privacy no one will share their secret here. Because privacy is yours alone. In the case of house construction, he builds his house according to his ability. If someone has enough money then he will never take a loan to build a house and try to build a house with his own money but the person who has limited money to build a house he cannot complete the construction of a house with the amount of money he has. Can build house with loan. It is better to build a business with that money than to build a luxury house. Because if a system can be properly wired then it is possible to fulfill many other dreams from that business in the future not only the house. So money should be spent according to specific plan without spending money unnecessarily.

I agree with you. It is hard to try and push oneself into building a house without enough money, you will always end up getting loans just to finish building the house. On the other hand, if you use the money you have for business that money will have a great potential to grow. It is really about planning everything.

[Pejoh Asu]

Managing finances is important because the economic conditions in my country are unpredictable, after many businesses and companies went bankrupt when Covid happened then now my country has to owe a lot to other countries, this of course makes a lot of subsidies and facilities to be paid expensively so I have to looking for a solution to be able to manage finances.

[rachael9385]

Trying something is always better than sitting around doing nothing, because experience and knowledge are not gained by being idle or by storing money that will not grow at all in a vault. Because we can all see the people who have been successful from various kinds of businesses in this world where they are basically always struggling and moving by implementing different efforts before they become big bosses in their own business. So I agreed to keep trying and working process after process to become more successful.

Yes my totalitarian, you have a good point, everyone must work to become a boss, but before one can do that he or she must start from somewhere like little business or working for someone so people can also work for you when you become the boss on your own, keeping money in a save is not like investment because the money is not adding anything as profits, the money store in a save might be called dissipate because something that adds no profits to you bet just there can end someday, so using money that just inoperative will one day end but money that comes with profits can never drained off. Hope am correct? ✌️

[Nwada001]

An example of what I mean is that, let's say you have up to $8k and you wish to buy Bitcoin with all that Capital, but you keep accumulating weekly with $200 and you believe that Bitcoin can go down to $25k, but instead of the $25k, it falls to $22k. At that point, instead of still continuing with the DCA, you can just use all (or 90%) your remaining capital to buy up Bitcoin at that price because, as you can't tell, the market can also take a big spike from the low price that it fell to and jump to a high price. Perhaps the market is always volatile.

I agree with what you said and the example that you have given, but using the price difference in your example is not enough to abandon DCA, as there is not much of a difference between $22,000 and $25,000. If one has a reserve of about $8,000 just for the accumulation of bitcoin and believes the all-time low during that season could be $25,000 but it dropped below that and went down to $22k, which appears to be an added advantage to the accumulator, which is true, but moving forward to accumulate with up to 90% of the reserve funds to me is not a good move, as the same possibility that makes the price drop down to that low level can also repeat itself and it could go down more a bit. I know there is also a possibility of prices going up during that season, but let us always consider both sides while our calculations and our buying decisions should be based on reality.

Instead of using 90% of the reserve funds in a case like this, I will calculate to use up to 3 weeks funds, which could have been $600-800, adding to the present week's own and making my purchase while also observing the market and using my DCA strategy. So that whatever the market turns out to be, there will always be funds to accumulate. Remember that the purpose is not to get a quick profit but to see how much could possibly be accumulated with the fund at hand.