Balancing Financial security and Bitcoin Accumulation

[AYOBA]

That's it. Waiting to gather much more or better capital before investing in Bitcoin can be termed as "procrastination in investment', and it's actually detrimental. We all know the price of Bitcoin is not promised and assured. It's always on the move, either upwards or opposite. If a low income earner keeps waiting to acquire something tangible before starting his Bitcoin accumulation process, am afraid such a person will or may never start. Using the DCA as opined is always the best. Invest bit by bit, watch it grow. Keep gathering, keep investing with the little you have. In years, you would have accumulated something tangible that you wouldn't have been able to keep before you started your investment journey.. slow and steady they say, wins the race

Yeah, that’s just the truth about the Bitcoin investment; it’s not advisable for anyone who has interest in investing in the Bitcoins or accumulated Bitcoin to keep waiting until he/she has much capital. Because the price of Bitcoin is not waiting for anyone, the higher the demand, the more the price also increases every blessed day, so in the case of a person who said that he will wait until he has gathered enough capital, I don’t think he will be able to afford to invest in Bitcoin anymore in the future.

Because of these types of people, that’s why they said when we come to invest or accumulate a bitcoin, it’s very easy when we use the DCA method. It makes everything become very simple in terms of accumulating Bitcoin, but some people will be keeping their little amount of money just for them to gather more capital instead of them using the little they have and investing. Before they know it, this little can grow beyond their expectations.

[Derekfunds]

If you have discretionary income, then you should never wait for an emergency fund. As you said, the emergency fund is set aside before the discretionary income. If you have created an emergency fund without really investing, then this is the wrong approach. Because if you do not already have an emergency fund, then you can create an emergency fund along with investments. If you create an emergency fund along with investments, then you are not missing out on the opportunity to buy, you are not falling behind the goal of building your portfolio. If you wait to create an emergency fund without investing, then this will be a very wrong decision for your investment.

You may be confused, discretionary income is the amount of money that we do not need very much. For example, even if this amount of money is lost, we will not suffer much loss. The amount of money that is left after deducting all your expenses is the discretionary income. If you invest with discretionary income, you do not need this amount of money very much. Discretionary income is very good for long-term investment.

If a guy is building up his emergency fund, then he is taking that money from the discretionary fund. It is money that is after the expenses have already been determined and/or removed... so yeah, all back up funds, whether emergency funds or reserve funds are built from discretionary funds.

Sir, I got the right information from you. I was very confused about this issue. Because I have seen many people creating an emergency fund with their main income and many people creating an emergency fund with discretionary income. Whenever I tried to ask someone, everyone gave different advice, due to which I was very confused about this issue.

If a person creates an emergency fund with discretionary income, then it will be very good for them in creating an emergency fund. Because they will not have any kind of exclusion in creating an emergency fund. If a person invests with his main income, then sometimes there may be a financial crisis for family expenses or all the other expenses, due to which the continuity of creating an emergency fund may be lost. So whether it is our emergency fund or any other fund, it is better for us to create it with discretionary income.

If we end up spending our income prior to accounting for expenses, then when we have expenses that are due, we either have to spend from our back up funds or we have to spend from our bitcoin, and so we are trying to prevent situations in which we will have to spend from our bitcoin at a time that is not completely of our own choosing, and so we sometimes could make mistakes which provides greater justification to have various back up funds.

You are correct JJG, the right thing to do is to always account for your expenses for that week or month and it should be based if you receive salary weekly or monthly and it should be within that space that you receive salary, sometimes you may get paid and immediately you start spending and you may even forget the most essential things needed so it is advised that before the due date that you will receive your salary you write down the things you need to spend the money on and how much will be lift from your salary as your discretionary income, any other emergency expenses that comes later you can use your reserve funds to settle it and that is why it is very important to have your backup funds which are your emergency, reserve and float funds and how strong they are determine how fast you will be in your accumulation journey because they help prevent you from dipping hands into your Bitcoin investment and also help you use your discretionary income for accumulation because when you have solved all your expenses for that week or month and emergency expenses that comes up can be solved or settled with any of your backup funds instead of using your discretionary income.

This is actually a good way to get your discretionary funds before month or week end that someone will receive salary or wages that is if their payment is constant and doesn't vary because of it does vary you can not be able to determine how much to allocate to some certain needs or want but on the other hand doing this because one can easily forget their needs doesn't make any sense because I wonder what will make someone forget his needs unless the person doesn't know what scale of preference is all about. A wise investor will never forget his needs whenever money comes in because he knows what will be the consequences or the damage it can cause or create of they forgot.

[Ruttoshi]

You are correct JJG, the right thing to do is to always account for your expenses for that week or month and it should be based if you receive salary weekly or monthly and it should be within that space that you receive salary, sometimes you may get paid and immediately you start spending and you may even forget the most essential things needed so it is advised that before the due date that you will receive your salary you write down the things you need to spend the money on and how much will be lift from your salary as your discretionary income, any other emergency expenses that comes later you can use your reserve funds to settle it and that is why it is very important to have your backup funds which are

This is actually a good way to get your discretionary funds before month or week end that someone will receive salary or wages that is if their payment is constant and doesn't vary because of it does vary you can not be able to determine how much to allocate to some certain needs or want but on the other hand doing this because one can easily forget their needs doesn't make any sense because I wonder what will make someone forget his needs unless the person doesn't know what scale of preference is all about. A wise investor will never forget his needs whenever money comes in because he knows what will be the consequences or the damage it can cause or create of they forgot.

It doesn't mean if your salary varies, the most important thing is that you should sort out your needs and expenses first for that week and any leftover should be used be to invest into bitcoin. You should also know that our weekly needs and expenses also varies from week to qeek, because there are times that we will spend more on our basic needs and weekly expenses and sometimes, we will spend lesser.

Any time that your discretionary income is high, you invest higher and any time that's is small due to high weekly needs, we invest smaller amounts. Therefore, if your weekly/monthly incomes varies, you should be able to figure out how much is your discretionary income and buy according to that amount. The most important thing is that you should kewp your bitcoin accumulation ongoing for 4-10 years and above regardless of the amount of your discretionary income, because we are to always work on improving our income for a higher discretionary income in order for you to increase your DCA amount.

It's good to have float, float should be use to take care of an unexpected expenses during the week.

[Agbamoni]

Yeah, that’s just the truth about the Bitcoin investment; it’s not advisable for anyone who has interest in investing in the Bitcoins or accumulated Bitcoin to keep waiting until he/she has much capital. Because the price of Bitcoin is not waiting for anyone, the higher the demand, the more the price also increases every blessed day, so in the case of a person who said that he will wait until he has gathered enough capital, I don’t think he will be able to afford to invest in Bitcoin anymore in the future.

What amount do you classify as much capital. To start your investment you dont need an actual amount to start it, all you need is a stable job, an income, and a discretionary income from your actual income. With time you can have more passive income to increase the percentage of your discretionary income you do invest with, that is if you are using the dca strategy. However, most rich people prefer to lump sum, since they do not want to hesitate in having a good amount in their portfolio

[Frankolala]

Yeah, that’s just the truth about the Bitcoin investment; it’s not advisable for anyone who has interest in investing in the Bitcoins or accumulated Bitcoin to keep waiting until he/she has much capital. Because the price of Bitcoin is not waiting for anyone, the higher the demand, the more the price also increases every blessed day, so in the case of a person who said that he will wait until he has gathered enough capital, I don’t think he will be able to afford to invest in Bitcoin anymore in the future.

What amount do you classify as much capital. To start your investment you dont need an actual amount to start it, all you need is a stable job, an income, and a discretionary income from your actual income. With time you can have more passive income to increase the percentage of your discretionary income you do invest with, that is if you are using the dca strategy. However, most rich people prefer to lump sum, since they do not want to hesitate in having a good amount in their portfolio

You don't need a stable job or stable income before you can invest in bitcoin, all you need is just a discretionary income. With you discretionary income, you can invest even though, it comes once in a while. Some people have a stable income but they don't have a discretionary income, such people cannot invest into bitcoin.

A contractor doesn't have a stable income because it's when he has a contract that he can execute it but the money from his contract can sustain him till he gets another. Such person can invest into bitcoin after taking away money for his needs and expenses overtime a period of time. The leftover can be used to invest in bitcoin.

Some people jobs don't permit them to have regular discretionary income but once in a while, they can have extra cash which they came across and don't have plan for, they can use it to invest into bitcoin and try to work out ways to improve their income so that, they can be consistent and persistent with their weekly DCA for 4-10 years and above. What really matters is that you are not a no coiner and you don't sell the little bitcoin in your possession.

What of a gambler that hits a jackpot, he gat no job but he can invest into bitcoin with the his jackpot funds.

[GIF-JOBS]

Yeah, that’s just the truth about the Bitcoin investment; it’s not advisable for anyone who has interest in investing in the Bitcoins or accumulated Bitcoin to keep waiting until he/she has much capital. Because the price of Bitcoin is not waiting for anyone, the higher the demand, the more the price also increases every blessed day, so in the case of a person who said that he will wait until he has gathered enough capital, I don’t think he will be able to afford to invest in Bitcoin anymore in the future.

What amount do you classify as much capital. To start your investment you dont need an actual amount to start it, all you need is a stable job, an income, and a discretionary income from your actual income. With time you can have more passive income to increase the percentage of your discretionary income you do invest with, that is if you are using the dca strategy. However, most rich people prefer to lump sum, since they do not want to hesitate in having a good amount in their portfolio

I completely agree with you, you never need a huge amount of capital before starting Bitcoin investment, you just need to create a permanent source of income and buy Bitcoin continuously with a discretionary income from it, you must arrange for discretionary income, if you buy Bitcoin regularly through the DCA strategy with this part of your income, it will gradually accumulate at an average price and will continue to grow permanently, it is much more risky if you think about aggressive investment and short-term profits, in comparison, buying Bitcoin continuously through DCA has a much higher chance of profit, and it also provides the investor with maximum benefits, such as you can buy Bitcoin completely free from volatility. Stability of investment is very important, because it is a long-term investment that brings high chances of success in the long run.

[sotelorene]

Yeah, that’s just the truth about the Bitcoin investment; it’s not advisable for anyone who has interest in investing in the Bitcoins or accumulated Bitcoin to keep waiting until he/she has much capital. Because the price of Bitcoin is not waiting for anyone, the higher the demand, the more the price also increases every blessed day, so in the case of a person who said that he will wait until he has gathered enough capital, I don’t think he will be able to afford to invest in Bitcoin anymore in the future.

What amount do you classify as much capital. To start your investment you dont need an actual amount to start it, all you need is a stable job, an income, and a discretionary income from your actual income. With time you can have more passive income to increase the percentage of your discretionary income you do invest with, that is if you are using the dca strategy. However, most rich people prefer to lump sum, since they do not want to hesitate in having a good amount in their portfolio

I completely agree with you, you never need a huge amount of capital before starting Bitcoin investment, you just need to create a permanent source of income and buy Bitcoin continuously with a discretionary income from it, you must arrange for discretionary income, if you buy Bitcoin regularly through the DCA strategy with this part of your income, it will gradually accumulate at an average price and will continue to grow permanently, it is much more risky if you think about aggressive investment and short-term profits, in comparison, buying Bitcoin continuously through DCA has a much higher chance of profit, and it also provides the investor with maximum benefits, such as you can buy Bitcoin completely free from volatility. Stability of investment is very important, because it is a long-term investment that brings high chances of success in the long run.

How do you create a permanent source of income? To the best of my knowledge there is no source of income that is permanent unless the one you established yourself but that does this mean that people who don't established or create there source of income theirselve can not be able to invest in Bitcoin? The answer is NO because even if you don't have your own business or company you can still work and get paid and you can get your discretionary from there. Moreover, there is no method one will use that they there portfolio will not grow so long as they are consistent and following the principles.

[Gost ms]

I completely agree with you, you never need a huge amount of capital before starting Bitcoin investment, you just need to create a permanent source of income and buy Bitcoin continuously with a discretionary income from it, you must arrange for discretionary income, if you buy Bitcoin regularly through the DCA strategy with this part of your income, it will gradually accumulate at an average price and will continue to grow permanently, it is much more risky if you think about aggressive investment and short-term profits, in comparison, buying Bitcoin continuously through DCA has a much higher chance of profit, and it also provides the investor with maximum benefits, such as you can buy Bitcoin completely free from volatility. Stability of investment is very important, because it is a long-term investment that brings high chances of success in the long run.

You do not need a fixed income source to invest. You can invest discretionary income from any source of your income through proper financial management. There are many people who do not have a fixed income. They work and work and sometimes they do not work and cannot work. There are some people who can invest with discretionary income through proper financial management.

If a person wants to invest with his paid income source, then his holdings may become bad after a while. The continuity of the investment may be lost. For example, if you have spent some amount of money more in a month, then you will not be able to invest in that month. Investing with discretionary income has many advantages. For example, this amount of money is not needed very much, the amount of money left after deducting all expenses is called discretionary income.

[ruykeri]

Honestly in the right sense, Someone that doesn't have a Discretional income shouldn't have any business with Bitcoin investment because what's is needed to accumulate bitcoin is from his discretional income. Sometimes when he gets too excited investing in Bitcoin, he may start buying bitcoin outside of his Discretional income by using funds meant for his basics needs to buy Bitcoin regularly.

This is where good cashflow management practices and proper discipline take pre eminence. With good cashflow management practice, you'll carve out your expenses and separate it from your discretionary income and further divide your discretionary income into funds for Bitcoin accumulation and those for building backup funds. It's important to note that buying Bitcoin with funds that are not your discretionary funds can be described as being over aggressive and it's not a good Bitcoin investment practice and furthermore it's not sustainable in the long-run.

I largely agree to what you said here with the exception of the bold words in your statement because in my own understanding, any investment made in Bitcoin outside your discretionary income is pure gambling, because it will be just be a matter of time before he tempered with his or her bitcoin investment because the money used in investing in bitcoin is meant to sort out one of his basic needs, so the right word you should be using is pure gambling not over aggressiveness, because it can never be sustained on the longer run.

Yes indeed. Investing aggressively in Bitcoin is one thing. And investing in Bitcoin like gambling is another things. If someone invests 70% or more of their discretionary income, then we may call investing aggressively. When someone invests in Bitcoin with their required money without discretionary income, emergency fund and reserve fund, then that investment will not be able to continue for a long time. Because the person who is investing has a family. He has expenses to manage himself and his family members. Besides, there may be various financial problems in the future. Then if he does not have the money saved, then he will be forced to sell Bitcoin. I am giving some information about the price of Bitcoin the matter will be clear.

In  January-02-2017 price was bitcoin $981.79
January -01-2018 It increased to $15,555.85.
January-07-2019 Bitcoin price decreased again to $3,813.21.
If we continue a little more evenly, then in April-12-2021 Bitcoin price increased to $61,045.83.
Next, in January-16-2023, the price decreased to $21,752.42.
Later, in May-18-2024 Bitcoin price increased to $65,455.29.
Now Bitcoin price is $113,756.80.

During this price decline, if someone face some kind of economical problem, he is forced to sell Bitcoin in loss. But if we hold it for a long time, it is seen that ultimately Bitcoin price continues to increase.So if anyone invest in Bitcoin correctly and easily, he can invest for a long time... If someone builds their emergency fund and reserve fund and invests aggressively with discretionary income by following the DCA method, then they can invest for a long time. Investing aggressively from discretionary income is not bad, but the problem is that if one put the necessary money into investing like gambling.

[Mr Reporter]

If you have discretionary income, then you should never wait for an emergency fund. As you said, the emergency fund is set aside before the discretionary income. If you have created an emergency fund without really investing, then this is the wrong approach. Because if you do not already have an emergency fund, then you can create an emergency fund along with investments. If you create an emergency fund along with investments, then you are not missing out on the opportunity to buy, you are not falling behind the goal of building your portfolio. If you wait to create an emergency fund without investing, then this will be a very wrong decision for your investment.

You may be confused, discretionary income is the amount of money that we do not need very much. For example, even if this amount of money is lost, we will not suffer much loss. The amount of money that is left after deducting all your expenses is the discretionary income. If you invest with discretionary income, you do not need this amount of money very much. Discretionary income is very good for long-term investment.

If a guy is building up his emergency fund, then he is taking that money from the discretionary fund. It is money that is after the expenses have already been determined and/or removed... so yeah, all back up funds, whether emergency funds or reserve funds are built from discretionary funds.

Sir, I got the right information from you. I was very confused about this issue. Because I have seen many people creating an emergency fund with their main income and many people creating an emergency fund with discretionary income. Whenever I tried to ask someone, everyone gave different advice, due to which I was very confused about this issue.

If a person creates an emergency fund with discretionary income, then it will be very good for them in creating an emergency fund. Because they will not have any kind of exclusion in creating an emergency fund. If a person invests with his main income, then sometimes there may be a financial crisis for family expenses or all the other expenses, due to which the continuity of creating an emergency fund may be lost. So whether it is our emergency fund or any other fund, it is better for us to create it with discretionary income.

If we end up spending our income prior to accounting for expenses, then when we have expenses that are due, we either have to spend from our back up funds or we have to spend from our bitcoin, and so we are trying to prevent situations in which we will have to spend from our bitcoin at a time that is not completely of our own choosing, and so we sometimes could make mistakes which provides greater justification to have various back up funds.

You are correct JJG, the right thing to do is to always account for your expenses for that week or month and it should be based if you receive salary weekly or monthly and it should be within that space that you receive salary, sometimes you may get paid and immediately you start spending and you may even forget the most essential things needed so it is advised that before the due date that you will receive your salary you write down the things you need to spend the money on and how much will be lift from your salary as your discretionary income, any other emergency expenses that comes later you can use your reserve funds to settle it and that is why it is very important to have your backup funds which are your emergency, reserve and float funds and how strong they are determine how fast you will be in your accumulation journey because they help prevent you from dipping hands into your Bitcoin investment and also help you use your discretionary income for accumulation because when you have solved all your expenses for that week or month and emergency expenses that comes up can be solved or settled with any of your backup funds instead of using your discretionary income.

This is actually a good way to get your discretionary funds before month or week end that someone will receive salary or wages that is if their payment is constant and doesn't vary because of it does vary you can not be able to determine how much to allocate to some certain needs or want but on the other hand doing this because one can easily forget their needs doesn't make any sense because I wonder what will make someone forget his needs unless the person doesn't know what scale of preference is all about. A wise investor will never forget his needs whenever money comes in because he knows what will be the consequences or the damage it can cause or create of they forgot.

I think you are right. Just as you've said, I think a wise investor would so much want to prioritise his or her needs and allocate funds accordingly to avoid financial difficulties. I must say it's very essential for us to strike a balance between savings, investing and meeting essential needs and expenses. Also, understanding one's scale of preference and prioritising essential needs is crucial for effective financial management.

[Cossyblack]

I completely agree with you, you never need a huge amount of capital before starting Bitcoin investment, you just need to create a permanent source of income and buy Bitcoin continuously with a discretionary income from it, you must arrange for discretionary income, if you buy Bitcoin regularly through the DCA strategy with this part of your income, it will gradually accumulate at an average price and will continue to grow permanently, it is much more risky if you think about aggressive investment and short-term profits, in comparison, buying Bitcoin continuously through DCA has a much higher chance of profit, and it also provides the investor with maximum benefits, such as you can buy Bitcoin completely free from volatility. Stability of investment is very important, because it is a long-term investment that brings high chances of success in the long run.

To be honest,I have never heard of a permanent source of income, even though you probably may have an established  business that fetches you income regularly,it wouldn't be permanent because gradually you are eventually growing old and someone will inherit that business from you when your bones are Weak & feeble. So I think they is no permanent source of income anywhere,what you should be emphasising on is having a temporal source of income that will enhance your acceleration in your bitcoin accumulation continuous.
If you have secure a regular flow of discretional income and By using DCA strategy,you can be persistently and consistently buying Bitcoin regardless of the price for the long term.

[Silikiem]

I completely agree with you, you never need a huge amount of capital before starting Bitcoin investment, you just need to create a permanent source of income and buy Bitcoin continuously with a discretionary income from it, you must arrange for discretionary income, if you buy Bitcoin regularly through the DCA strategy with this part of your income, it will gradually accumulate at an average price and will continue to grow permanently, it is much more risky if you think about aggressive investment and short-term profits, in comparison, buying Bitcoin continuously through DCA has a much higher chance of profit, and it also provides the investor with maximum benefits, such as you can buy Bitcoin completely free from volatility. Stability of investment is very important, because it is a long-term investment that brings high chances of success in the long run.

To be honest,I have never heard of a permanent source of income, even though you probably may have an established  business that fetches you income regularly,it wouldn't be permanent because gradually you are eventually growing old and someone will inherit that business from you when your bones are Weak & feeble. So I think they is no permanent source of income anywhere,what you should be emphasising on is having a temporal source of income that will enhance your acceleration in your bitcoin accumulation continuous.
If you have secure a regular flow of discretional income and By using DCA strategy,you can be persistently and consistently buying Bitcoin regardless of the price for the long term.

Fair enough, the source of the income mustn’t be permanent nor temporal before you can accumulate and invest in bitcoin, the most important thing is to be able to figure out a source to where you are able to get  a discretionary income to buy and invest with. It doesn’t matter how steadily or seldom is the nature of your job or the source, as far as you are able to figure out a discretionary income from anywhere, then you’re good to go and accumulate bitcoin and hodl for the long term goal and gradually build up your portfolio.

[Loyang]

What amount do you classify as much capital. To start your investment you dont need an actual amount to start it, all you need is a stable job, an income, and a discretionary income from your actual income. With time you can have more passive income to increase the percentage of your discretionary income you do invest with, that is if you are using the dca strategy. However, most rich people prefer to lump sum, since they do not want to hesitate in having a good amount in their portfolio

You don't need a stable job to invest. You need a source of discretionary income to invest. There are many people whose source of income is not stable. You need to find discretionary income from your source of income.

There are many people who invest but they don't have a stable source of income. For example, when a contractor takes a job, you don't get paid until the work is completed. There are many types of jobs where you don't get paid until the work is completed. If they want, they can find discretionary income and invest through proper financial management.

[Qhunman]

I completely agree with you, you never need a huge amount of capital before starting Bitcoin investment, you just need to create a permanent source of income and buy Bitcoin continuously with a discretionary income from it, you must arrange for discretionary income, if you buy Bitcoin regularly through the DCA strategy with this part of your income, it will gradually accumulate at an average price and will continue to grow permanently, it is much more risky if you think about aggressive investment and short-term profits, in comparison, buying Bitcoin continuously through DCA has a much higher chance of profit, and it also provides the investor with maximum benefits, such as you can buy Bitcoin completely free from volatility. Stability of investment is very important, because it is a long-term investment that brings high chances of success in the long run.

To be honest,I have never heard of a permanent source of income, even though you probably may have an established  business that fetches you income regularly,it wouldn't be permanent because gradually you are eventually growing old and someone will inherit that business from you when your bones are Weak & feeble. So I think they is no permanent source of income anywhere,what you should be emphasising on is having a temporal source of income that will enhance your acceleration in your bitcoin accumulation continuous.
If you have secure a regular flow of discretional income and By using DCA strategy,you can be persistently and consistently buying Bitcoin regardless of the price for the long term.

Fair enough, the source of the income mustn’t be permanent nor temporal before you can accumulate and invest in bitcoin, the most important thing is to be able to figure out a source to where you are able to get  a discretionary income to buy and invest with. It doesn’t matter how steadily or seldom is the nature of your job or the source, as far as you are able to figure out a discretionary income from anywhere, then you’re good to go and accumulate bitcoin and hodl for the long term goal and gradually build up your portfolio.

I agree with you that it doesn't matter whether we have a permanent nor temporal source of income, what matters is as long as we can afford to produce a discretional income out of it to buy Bitcoin, Of course we can still be buying bitcoin from our discretional income even before securing a source of income to support our bitcoin accumulation. What I also understand is that our consistency of producing a discretional income to buy Bitcoin also depends on when our next earnings will arrive,some of us receive regular weekly payments while others will have to wait patiently until the end of the month to get paid from their places of work but what matters the most isn't how stable our source of income is but as long as we can figure out a discretional income and the level of our focus in buying/accumulating bitcoin consistently & How long we choose to Hodl patiently for the long term.

[Shadiq]

I agree with you that it doesn't matter whether we have a permanent nor temporal source of income, what matters is as long as we can afford to produce a discretional income out of it to buy Bitcoin, Of course we can still be buying bitcoin from our discretional income even before securing a source of income to support our bitcoin accumulation. What I also understand is that our consistency of producing a discretional income to buy Bitcoin also depends on when our next earnings will arrive,some of us receive regular weekly payments while others will have to wait patiently until the end of the month to get paid from their places of work but what matters the most isn't how stable our source of income is but as long as we can figure out a discretional income and the level of our focus in buying/accumulating bitcoin consistently & How long we choose to Hodl patiently for the long term.

There are diverse professions in the world and diverse salary systems. Even the sources of income vary. In the field of investment, diversity of professions, diversity of income sources or diversity of salary are not important, but a common thing is a source of discreet income, which can be available to all types of people. Discretionary money does not accept diversity of professions, does not accept diversity of salary systems and does not accept diversity of income sources.

So instead of focusing on what your profession is and what kind of income source you are involved in or what kind of salary system you are, focus on whether you are able to set aside discreet money. Because investment requires discreet money, not the type of income source.

[Derekfunds]

What amount do you classify as much capital. To start your investment you dont need an actual amount to start it, all you need is a stable job, an income, and a discretionary income from your actual income. With time you can have more passive income to increase the percentage of your discretionary income you do invest with, that is if you are using the dca strategy. However, most rich people prefer to lump sum, since they do not want to hesitate in having a good amount in their portfolio

You don't need a stable job to invest. You need a source of discretionary income to invest. There are many people whose source of income is not stable. You need to find discretionary income from your source of income.

There are many people who invest but they don't have a stable source of income. For example, when a contractor takes a job, you don't get paid until the work is completed. There are many types of jobs where you don't get paid until the work is completed. If they want, they can find discretionary income and invest through proper financial management.

You are absolutely correct, stable source of income is not a criteria someone ought to meet before they can invest in Bitcoin but it is good to have a stable source of income because if you are focused and determined to hold for long time, stable source of income will help you get there ( desire target) without much pressure because you will be able to allocate funds to different needs and wants and at same time grow your discretionary and emergency funds because these two are the ultimate for a healthy and smooth investment but regardless someone without this stable source of income can still do all these if they are very conscious about their investment and how to use their funds.

[Miramax12]

If you have discretionary income, then you should never wait for an emergency fund. As you said, the emergency fund is set aside before the discretionary income. If you have created an emergency fund without really investing, then this is the wrong approach. Because if you do not already have an emergency fund, then you can create an emergency fund along with investments. If you create an emergency fund along with investments, then you are not missing out on the opportunity to buy, you are not falling behind the goal of building your portfolio. If you wait to create an emergency fund without investing, then this will be a very wrong decision for your investment.

You may be confused, discretionary income is the amount of money that we do not need very much. For example, even if this amount of money is lost, we will not suffer much loss. The amount of money that is left after deducting all your expenses is the discretionary income. If you invest with discretionary income, you do not need this amount of money very much. Discretionary income is very good for long-term investment.

If a guy is building up his emergency fund, then he is taking that money from the discretionary fund. It is money that is after the expenses have already been determined and/or removed... so yeah, all back up funds, whether emergency funds or reserve funds are built from discretionary funds.

Sir, I got the right information from you. I was very confused about this issue. Because I have seen many people creating an emergency fund with their main income and many people creating an emergency fund with discretionary income. Whenever I tried to ask someone, everyone gave different advice, due to which I was very confused about this issue.

If a person creates an emergency fund with discretionary income, then it will be very good for them in creating an emergency fund. Because they will not have any kind of exclusion in creating an emergency fund. If a person invests with his main income, then sometimes there may be a financial crisis for family expenses or all the other expenses, due to which the continuity of creating an emergency fund may be lost. So whether it is our emergency fund or any other fund, it is better for us to create it with discretionary income.

If we end up spending our income prior to accounting for expenses, then when we have expenses that are due, we either have to spend from our back up funds or we have to spend from our bitcoin, and so we are trying to prevent situations in which we will have to spend from our bitcoin at a time that is not completely of our own choosing, and so we sometimes could make mistakes which provides greater justification to have various back up funds.

You are correct JJG, the right thing to do is to always account for your expenses for that week or month and it should be based if you receive salary weekly or monthly and it should be within that space that you receive salary, sometimes you may get paid and immediately you start spending and you may even forget the most essential things needed so it is advised that before the due date that you will receive your salary you write down the things you need to spend the money on and how much will be lift from your salary as your discretionary income, any other emergency expenses that comes later you can use your reserve funds to settle it and that is why it is very important to have your backup funds which are your emergency, reserve and float funds and how strong they are determine how fast you will be in your accumulation journey because they help prevent you from dipping hands into your Bitcoin investment and also help you use your discretionary income for accumulation because when you have solved all your expenses for that week or month and emergency expenses that comes up can be solved or settled with any of your backup funds instead of using your discretionary income.

This is actually a good way to get your discretionary funds before month or week end that someone will receive salary or wages that is if their payment is constant and doesn't vary because of it does vary you can not be able to determine how much to allocate to some certain needs or want but on the other hand doing this because one can easily forget their needs doesn't make any sense because I wonder what will make someone forget his needs unless the person doesn't know what scale of preference is all about. A wise investor will never forget his needs whenever money comes in because he knows what will be the consequences or the damage it can cause or create of they forgot.

Absolutely, It's easy to underestimate how quickly money can disappear without a plan. Budgeting ahead of payday really helps you stay intentional with spending and more importantly, keeps you from touching long-term investments like Bitcoin. Having those reserve and float funds in place is a game changer. It’s not just about saving it’s about protecting your strategy and staying consistent.

[fredericktaylor]

I agree with you that it doesn't matter whether we have a permanent nor temporal source of income, what matters is as long as we can afford to produce a discretional income out of it to buy Bitcoin, Of course we can still be buying bitcoin from our discretional income even before securing a source of income to support our bitcoin accumulation. What I also understand is that our consistency of producing a discretional income to buy Bitcoin also depends on when our next earnings will arrive,some of us receive regular weekly payments while others will have to wait patiently until the end of the month to get paid from their places of work but what matters the most isn't how stable our source of income is but as long as we can figure out a discretional income and the level of our focus in buying/accumulating bitcoin consistently & How long we choose to Hodl patiently for the long term.

There are diverse professions in the world and diverse salary systems. Even the sources of income vary. In the field of investment, diversity of professions, diversity of income sources or diversity of salary are not important, but a common thing is a source of discreet income, which can be available to all types of people. Discretionary money does not accept diversity of professions, does not accept diversity of salary systems and does not accept diversity of income sources.

So instead of focusing on what your profession is and what kind of income source you are involved in or what kind of salary system you are, focus on whether you are able to set aside discreet money. Because investment requires discreet money, not the type of income source.

Right, people's income patterns or salary systems are different in the world, someone is doing business or job, their income patterns are different. When investing in Bitcoin, there is no need to focus on what your profession or source of income is, the main thing for investment is whether you can set aside extra money outside your expenses. To manage an investment for the long term, a emergency fund is needed for three months, because we do not know what may happen in the future, so we need to be aware in advance and invest regularly, and it is very important to be patient for the right time.

[Mr Reporter]

What amount do you classify as much capital. To start your investment you dont need an actual amount to start it, all you need is a stable job, an income, and a discretionary income from your actual income. With time you can have more passive income to increase the percentage of your discretionary income you do invest with, that is if you are using the dca strategy. However, most rich people prefer to lump sum, since they do not want to hesitate in having a good amount in their portfolio

You don't need a stable job to invest. You need a source of discretionary income to invest. There are many people whose source of income is not stable. You need to find discretionary income from your source of income.

There are many people who invest but they don't have a stable source of income. For example, when a contractor takes a job, you don't get paid until the work is completed. There are many types of jobs where you don't get paid until the work is completed. If they want, they can find discretionary income and invest through proper financial management.

You are absolutely correct, stable source of income is not a criteria someone ought to meet before they can invest in Bitcoin but it is good to have a stable source of income because if you are focused and determined to hold for long time, stable source of income will help you get there ( desire target) without much pressure because you will be able to allocate funds to different needs and wants and at same time grow your discretionary and emergency funds because these two are the ultimate for a healthy and smooth investment but regardless someone without this stable source of income can still do all these if they are very conscious about their investment and how to use their funds.

I think most of the times it very best to emphasize the importance of a well stable source of income for investing in Bitcoin, but also acknowledging that it's not a strict requirement. And also a stable source of income can provide financial security and flexibility, allowing investors to allocate funds to different needs and wants while growing thier discretionary and emergency funds.

[Sticky Bomb]

That's it. Waiting to gather much more or better capital before investing in Bitcoin can be termed as "procrastination in investment', and it's actually detrimental. We all know the price of Bitcoin is not promised and assured. It's always on the move, either upwards or opposite. If a low income earner keeps waiting to acquire something tangible before starting his Bitcoin accumulation process, am afraid such a person will or may never start. Using the DCA as opined is always the best. Invest bit by bit, watch it grow. Keep gathering, keep investing with the little you have. In years, you would have accumulated something tangible that you wouldn't have been able to keep before you started your investment journey.. slow and steady they say, wins the race

Yeah, that’s just the truth about the Bitcoin investment; it’s not advisable for anyone who has interest in investing in the Bitcoins or accumulated Bitcoin to keep waiting until he/she has much capital. Because the price of Bitcoin is not waiting for anyone, the higher the demand, the more the price also increases every blessed day, so in the case of a person who said that he will wait until he has gathered enough capital, I don’t think he will be able to afford to invest in Bitcoin anymore in the future.

The disadvantage of a person who has discretionary income present and deceiving themselves that they are gathering funds to accumulate bitcoin is not only that if the price of bitcoin goes higher in the future, they would keep procrastinating, but they are ignorant that they do not need to buy a whole bitcoin at once, there is DCA for them and they can buy in bits with no pressure and spend more time in the market instead of speculating outside it. Additionally, gathering and hedging fiat is like fetching water with a container that has a hole underneath, no matter the amount you fetch, it always reduces in value due to the action of inflation and currency depreciation on fiat. As long as you can identify that you have discretionary income available, there is no reason to wait, so it is best to to jump right in and start buying bitcoin with available discretionary income to avoid loosing time due to procrastination and worse loose value for your fiat due to inflation.