What's the best piece of investment advice you can give me? (bitcoin tied in)

[Amphenomenon]

It's really hard to find investment that pays higher 10% per year, Bitcoin is the solution and it's the lowest risk for me compared to business, low cap stock, and P2P lending.

Yes what you said are still correct but you also know that sometimes, a year is bad analysis for judging bitcoin investment simply because the bear that year might just be a long one and the ROI for the year might be way smaller or even at lost, depending on when the individual start accumulating. The thing is that long term HODLing plan cover for all these lost, because while it may be at lost in that year the other or at the bull season over 20% is possible, we have even seen more. This is among the reason the needs for emergency funds can never be over emphasize.

[Pi-network314159]

I run an extremely large retirement plan here in the United States (well, I am the sole advisor on it).  I got asked the other day during a large presentation I was putting on, if you could give a young investor one piece of advice, what would it be.  What immediately came to mind "never listen to your friends, family or co-worker when it comes to investment advice.  

If I where to advice you base on your speach from this last paragraph I bolded, I would say that listening to advice from friends and co workers is not a bad  thing, but the type of advice given to you determine if it is bad or not. If you want to succeed be quick to listen but slow to action because there could be a misleading advice that will trigger a fast investment that may collapse so suddenly but if it is given a thought for sometime you may discover some lapses that may have gotten you into a mess, Because as a business person there could be somany advice from everyone, and you must be selective to know the right one. And don't ever do business in favour of family and friends including relatives.

[MarjorieZimmermanGinger]

I run an extremely large retirement plan here in the United States (well, I am the sole advisor on it).  I got asked the other day during a large presentation I was putting on, if you could give a young investor one piece of advice, what would it be.  What immediately came to mind "never listen to your friends, family or co-worker when it comes to investment advice.  

It looks more stubborn and probably those are the words that will come out of friends or family when they start grumbling about financial advice in the future. That's exactly what happened in my family because parents always asked what steps have been taken to minimize the risks that will occur and how preparations for the future of children have started or not from now. The idea would have seemed crazier if 5 years ago we said to start investing in bitcoin to prepare for early retirement because not many people around us understood bitcoin, but seeing the development of bitcoin so far, almost most brands are starting to realize that bitcoin is a strategic step to prepare for retirement.

[fikrett]

It looks more stubborn and probably those are the words that will come out of friends or family when they start grumbling about financial advice in the future. That's exactly what happened in my family because parents always asked what steps have been taken to minimize the risks that will occur and how preparations for the future of children have started or not from now. The idea would have seemed crazier if 5 years ago we said to start investing in bitcoin to prepare for early retirement because not many people around us understood bitcoin, but seeing the development of bitcoin so far, almost most brands are starting to realize that bitcoin is a strategic step to prepare for retirement.

Adoption is key to it.
Bigger names putting BTC in the spotlight => more people that are not aware of it start taking notice, albeit with some skeptical thoughts nevertheless.

[MarjorieZimmermanGinger]

Adoption is key to it.
Bigger names putting BTC in the spotlight => more people that are not aware of it start taking notice, albeit with some skeptical thoughts nevertheless.

People are starting to learn why bitcoin is growing so fast that it could become one of the best assets. Bitcoin adoption is expanding and will probably reach a much larger community in the future as big companies start to show interest in storing value in bitcoin. This illustrates something that has value in the process of sustainability so making bitcoin an investment is a smart choice and continuing to think skeptically will show a delay in reaching a much better stage in bitcoin.

[Natalim]

Adoption is key to it.
Bigger names putting BTC in the spotlight => more people that are not aware of it start taking notice, albeit with some skeptical thoughts nevertheless.

People are starting to learn why bitcoin is growing so fast that it could become one of the best assets. Bitcoin adoption is expanding and will probably reach a much larger community in the future as big companies start to show interest in storing value in bitcoin. This illustrates something that has value in the process of sustainability so making bitcoin an investment is a smart choice and continuing to think skeptically will show a delay in reaching a much better stage in bitcoin.

There’s no questions about bitcoin being a smart choice for investment, it must have gotten out from the market if it wasn’t a wise and smart choice. However, the point here is one should know when to perfectly invest in the market, not when there is market opportunity offered, but when you are financially and emotionally all set to invest. That means, make sure to save a lot of earnings first like you can survive one or two years even without profits gained from your bitcoin investment.

[hero_the_bossman]

People are starting to learn why bitcoin is growing so fast that it could become one of the best assets. Bitcoin adoption is expanding and will probably reach a much larger community in the future as big companies start to show interest in storing value in bitcoin. This illustrates something that has value in the process of sustainability so making bitcoin an investment is a smart choice and continuing to think skeptically will show a delay in reaching a much better stage in bitcoin.

Yes, it's better to start now than never  For everybody in fact, big or small, each and everyone can learn more, work with BTC, and have their investment blooming.

[ImThour]

For me, the best investment advice is to first understand the asset you are investing in. In this case, Bitcoin is not just an investment, it's a future, its a technology. It's a combination of technology and investment which the world has never seen before. So you cannot simply invest in Bitcoin because it went from $15k to $100k. You need to understand why it went up like that, what's the scarcity, cycles etc. And once you are clear with that, start DCAing - that simply is the most profitable way until and unless you are lucky.

[hero_the_bossman]

For me, the best investment advice is to first understand the asset you are investing in. In this case, Bitcoin is not just an investment, it's a future, its a technology. It's a combination of technology and investment which the world has never seen before. So you cannot simply invest in Bitcoin because it went from $15k to $100k. You need to understand why it went up like that, what's the scarcity, cycles etc. And once you are clear with that, start DCAing - that simply is the most profitable way until and unless you are lucky.

Knowledge transforms into experiences and actions.
That's why it's essential to do what you say for newbies especially because BTC is no magic tool to print money. It's a gift that keeps on giving.

[Ambatman]

What I do is invest some money I would have set outside for leisure.
The amount I invest from my personal funds are ones I can really do without to reduce emotional attachment.
Campaign also helps me with accumulating.
The thing is what's making it without a little risk
If you don't leave your comfort zone, you will never understand how verse the world is.
Research
Compare if it meets your needs
And throw some money in it with proper planning. 

[GeorgeJohn]

To me, an advice would be precisely how the op explained why he didn't encourage his friend to invest: Get your financial situation straight and stable first, consider buying Bitcoin later. Bitcoin is volatile, buying it is a risk, and people shouldn't risk what they can't afford to lose.
Now, if a person can earn Bitcoin, that's a different story, but there should again be an understanding that basic needs come first, saving up this BTC comes second.

That has been the problem of people, I know quite well that some people think bitcoin is something you invest and you start making profit immediately, so that has been their concept, is good to have a bitcoin knowledge by yourself before you invest on it, because during the investment if anything should go wrong you will be the one to be blame, for me I will not encourag a friend of mine who has not make research bitcoin to invest on Bitcoin, I will first advice him to look into bitcoin first before investing, looking into bitcoin, that will make him or her to be able to differentiate the advantages of bitcoin and the disadvantages of bitcoin.

[Botnake]

I run an extremely large retirement plan here in the United States (well, I am the sole advisor on it).  I got asked the other day during a large presentation I was putting on, if you could give a young investor one piece of advice, what would it be.  What immediately came to mind "never listen to your friends, family or co-worker when it comes to investment advice.  

If I where to advice you base on your speach from this last paragraph I bolded, I would say that listening to advice from friends and co workers is not a bad  thing, but the type of advice given to you determine if it is bad or not. If you want to succeed be quick to listen but slow to action because there could be a misleading advice that will trigger a fast investment that may collapse so suddenly but if it is given a thought for sometime you may discover some lapses that may have gotten you into a mess, Because as a business person there could be somany advice from everyone, and you must be selective to know the right one. And don't ever do business in favour of family and friends including relatives.

You can listen advices from others but learn to filter them always so that your choice will still be your best decision in the end. Do not just rely from others, but when it comes to money and investment, your own self should always be the only person you can rely to, and not giving chances to other people to scam or deceive you.

My best investment advice I can give so far is trust only yourself. People around you could act as smart and professionals, but in the end, your own decision matters the most so you have to trust it no matter what.

[ChiBitCTy]

For me, the best investment advice is to first understand the asset you are investing in. In this case, Bitcoin is not just an investment, it's a future, its a technology. It's a combination of technology and investment which the world has never seen before. So you cannot simply invest in Bitcoin because it went from $15k to $100k. You need to understand why it went up like that, what's the scarcity, cycles etc. And once you are clear with that, start DCAing - that simply is the most profitable way until and unless you are lucky.

"For me, the best investment advice is to first understand the asset you are investing in"  Very well said, son of Oden!  As a long time FA I'm hyper critical of posters in threads like this because I know my shit when it comes to finance.  Some great posts in here like yours and it's appreciated !!

I was talking to my first friend ever (we met when we were 4-5) last night and he was saying " I feel like I missed the boat, should I try and store up to buy a full bitcoin or". I told him everything mentioned here, and that DCA'ing is the way and that bitcoin has room to run.  Would I be pissed if it didn't ever go up again sure, more than anything because that means it's adoption in a large scale didn't take place.  One of the few here who truly cared about the tech.  Studied btc for an entire year before ever buying any.  As a finance guys who fn hates big banks, it made too much sense. 

[mirakal]

This is not just for bitcoin for every investment I took, it’s always been TAKE RISK BUT NEVER PUT TOO MUCH EXPECTATIONS ON IT. Same goes with your advice OP to stabilize your foundation first before risking your funds into bitcoin. Bitcoin is still isn’t profit guaranteed, so we have to invest with high caution. And by caution means, we don’t have to rely into bitcoin completely, but just invest what we can afford to lose.

[MarjorieZimmermanGinger]

There’s no questions about bitcoin being a smart choice for investment, it must have gotten out from the market if it wasn’t a wise and smart choice. However, the point here is one should know when to perfectly invest in the market, not when there is market opportunity offered, but when you are financially and emotionally all set to invest. That means, make sure to save a lot of earnings first like you can survive one or two years even without profits gained from your bitcoin investment.

If you already have knowledge about the journey of bitcoin then there should be no need to wait because anyone can start anytime using some of the available methods. There is no need to save a lot of income to start investing because people can buy in any amount relying on the money they have. Bitcoin provides an opportunity for anyone to grow because this asset gets stronger with time so deciding to take the right approach to start the right way based on the opportunities available will give more value in the future.

Yes, it's better to start now than never  For everybody in fact, big or small, each and everyone can learn more, work with BTC, and have their investment blooming.

Slowly people can make a portion in investment based on their financial ability, starting with a small amount is not too bad as long as it is consistently invested and slowly it will definitely increase. Waiting will not be profitable because even though the price is getting higher we can buy in the amount we can afford in a certain way.

[Cityhunter34]

What immediately came to mind "never listen to your friends, family or co-worker when it comes to investment advice.  

I do one thing. I will never tell my family members and relatives about investment in Bitcoin. I did it in the past, but from my experience, I knew it is painful experience, hence I no longer want to repeat it in future.

Even it is investment, people can do their investment differently and that leads to different results, success or failure. It's obviously their own responsibility, but when they fail, they will not recognize their own reasons but will immediately find reasons from someone else. And at that time, you as a tutor for their investment debut, will be one of first victims. Honestly, I want peace, freedom and no pressure from someone, so I don't want to introduct Bitcoin investment and get such headache later.

You're right, I also have a similar case with you which is why I don't like telling people about bitcoin investment anymore, because they will always put the blame on me whenever time they experience lose in the market, which is very bad. At this point is going to look asive you introduced them to a scam project. mean while they didn't follow the instructions that was given to them, this is why most of them always end up losing in bitcoin investment.

Of course for you to have  peace you just need to stay on your lane because sometimes telling people about bitcoin investment is like inviting problems to ourselves, so to avoid being pressured over nothing or getting unnecessary headache. We just need to keep our investment plans to ourselves without telling anyone about it.

Actually telling people to invest in Bitcoin is highly not advisable at all. Because if anything happens along the line they would going to put all blem on you, is better you stay on a low key than telling people to join Bitcoin investment then at last you ended up regretting. Bitcoin investment is a long term process so is not good to force someone into it, because they might not have the patience to hold for a long period of time. Anything about investment should be a personal decision not something to force someone that doesn't have any interest.

[libert19]

I run an extremely large retirement plan here in the United States (well, I am the sole advisor on it).  I got asked the other day during a large presentation I was putting on, if you could give a young investor one piece of advice, what would it be.  What immediately came to mind "never listen to your friends, family or co-worker when it comes to investment advice.  

I would agree, every time I have listened to someone else without me understanding 'why is it so' — it has backfired, and now I try to do not blindly heed anyone.

The best piece of advice I can think of for a young investor is to, "get off zero."

So many people are afraid to invest or they think they need a wizard to help them do it.  Nothing teaches like experience.  Just get off zero, get yourself some skin in the game, and that's when you start learning.  There are so many little nuances in investing and trying to learn without doing makes things far more difficult.  The sooner people toss a couple bucks at an investment, the sooner they can get comfortable with seeing how it reacts to different situations.  Investing doesn't have to be hard or take a lot of time.  You just have to do it.  I know people who have been talking about investing in Bitcoin since it was at $2.  They always have a reason not to get in, but if they had just tossed $5 at it back then, maybe they would have gotten comfortable with it, invested more over the years, and would be financially free today instead of still wondering if they should invest.

This is perfect. Nothing teaches like an experience, often it's like no matter how much you listened to experts, or read books but you only learn after getting experience, so might as well dive in first hand (with risks assessed though).

[shield132]

Why do I bring this up?  A buddy of mine whom I love to death, as nice as I can possibly say, is an idiot.  Two summers ago we went to the Nelly Ja Rule concert together and someone brought up bitcoin, he said "oh that's a scam".  Knowing full well he knows NOTHING about cryptocurrency or finances ..I didn't even hit him with the "ok so bitcoin is a scam, fair enough, what's the blockchain?" NO ONE has ever been able to explain that who's told me bitcoin is a scam.   I just told him it's not.  He's knows I'm an FA and pretty sure he knew I was pretty "deeply" involved in the bitcoin community.  

He texts me today "do you know anything about bitcoin" , well last night.  I said in fact yeah, I know quite a bit.  I asked why "A friend told me I should buy some".  I sent him a voice message back ... "Sean, I'm a huge bitcoin supporter, I've been around for over a decade now and truly fell in love with it for the tech.  But here's the thing, it's inherently NOT an investment, and you shouldn't consider it until you get your finances straight. He has NOTHING to his name.  He just for the first time in his 40 plus year life got a decent job.  I know he doesn't know how to properly bank even (credit unions for check, online banks for savings...AVOID the big banks like BOA, Chase, Wells Fargo etc).  I also know he doesn't have knickle in any "backbone investments".  What I mean buy that is your long term financial plans.  401k's, IRA's etc.  I said once you get that on track, then sure I think you should probably put a few bucks in to it, but until then.

This is a reminder that your friends likely don't know jack shit about investing, and seek advice from a licensed professional, not some jerk off co-worker who tells everyone to do the same thing even though everyone's situation is different.

Licensed professionals are not the best people to seek advice from. When I was studying in university, I was the only one who knew about Bitcoins and I was actively into it for that moment. I was studying at one of the best local university and I had the ability to interact with famous local people, including those who studied at Oxford and Harvard and those who were higher-ups in local government. Some of them didn't know about Bitcoin despite the fact that they were teaching me economics and finances but some of them who knew about it, were thinking that Bitcoin was a scam but they had no idea about blockchain technologies.
I had lots of discussions with these people and I was always explaining the real pros and cons of Bitcoin, I was making them sure that money laundering thing is an excuse from governments to control the people and etc. In the end, I managed to get a very good treatment from these people because I knew a lot about Bitcoin. For them, I was an educated student who was different from others, I had very good marks with them.

[franky1]

the OP's "3 bucket" plan is very good, sincere and true advice
(he wrote more on the topic in the link in his OP post)

A proper investment portfolio should really have 3 aspects ...short , mid, and long term "buckets".   Short Term would be things like your checking account.  Mid Term would be things such as savings accounts ( pro-tip..always use online banks such as Ally Bank for savings accounts.  They offer MUCH higher interest rates than traditional brick and mortar banks such as Chase/Bank of America etc), online trading accounts such as TD Ameritrade/E-Trade etc.  Long Term would be things such as your IRA/401k etc.  

basically, reworded and explained
bucket A: your spending account for the month (salary in, expenses out)
bucket B: your savings/easy access account for financial emergency/surprise events and things you will need short-mid term
bucket C: your investment portfolio(diversified: not all funds in one asset)

if you dont have spare cash at the end of each month to put into B, dont get into C yet
firstly try to sort your finances to have excess cash per month after your lifestyle spending, to have and fund a bucket B which should be upto a month of salary in bucket B before you even begin funding a bucket C

bucket C should not be thought of as an amount you can grab at whenever you need it, it should be invested long term and left alone(not withdrawn at a whim). this is why you need a bucket B. to give you the buffer of spare funds to cover emergency/surprise financial incidences. it also tempers down the emotions and temptations to touch bucket C by having a bucket B

most things in life that are sudden, if a huge amount dont require immediate and final payment the same month, usually you can set up affordable payment plans. and so bucket B does not need to be huge to cover huge surprises, but enough to get you through a tough month or so, so you can plan your exit strategy of the C bucket in a timely and strategic way over time or use excess of A to cover payment plan, rather then immediately raiding C when it may be in bear position(loss making)

[NotATether]

Many sites and platforms are getting caught up in memes and in particular, memecoins. Do not invest your money in such trash or you will not only lose your own money but also other people's too.

At this point, shitcoins are nothing but a thinly-disguised scam.