As a newbie, don't invest what you cannot HODL for long-term

[Tungbulu]

I’ll only buttress on the paragraph about the importance of the emergency fund to our investment. This is very very correct. The backup fund is like giving your investment insurance. In the absence of an emergency fund, your investment is kept vulnerable and could be tampered when an emergency occurs. I like to consider the emergency fund to be even more important than the investment itself, as long as the investor is still in his accumulation phase and yet to reach their long term goal because it’s kinda like the thing that actually enables you to reach your goal without interruptions.

[Sammye3]

I’ll only buttress on the paragraph about the importance of the emergency fund to our investment. This is very very correct. The backup fund is like giving your investment insurance. In the absence of an emergency fund, your investment is kept vulnerable and could be tampered when an emergency occurs. I like to consider the emergency fund to be even more important than the investment itself, as long as the investor is still in his accumulation phase and yet to reach their long term goal because it’s kinda like the thing that actually enables you to reach your goal without interruptions.

I believe the nature of work or source of income would determine making provision for an emergency funds as most people do not have much to fall back to after partial investment in Bitcoin and not enough to sort out necessities but the importance of emergency funds is not neglected to this regard.

Absolutely well said, which is why it is also important not too only invest in Bitcoin but make provisions for other source of investment that could yield profits too as Bitcoin investment is for the future.

[Tungbulu]

I believe the nature of work or source of income would determine making provision for an emergency funds as most people do not have much to fall back to after partial investment in Bitcoin and not enough to sort out necessities but the importance of emergency funds is not neglected to this regard.

Absolutely well said, which is why it is also important not too only invest in Bitcoin but make provisions for other source of investment that could yield profits too as Bitcoin investment is for the future.

That’s why I almost wanna advice people to stack up their emergency fund (at least 3 months of their living expenses) first before they start investing, but then again, in order to avoid much delay or excuses to why folks can’t get started immediately, I feel it’s more appropriate to build both your emergency fund and your Bitcoin portfolio simultaneously. The first thing should be taking care of the important expenses first, and whatever you’re left with is your discretionary income, then you can determine how to split it between your emergency fund and your Bitcoin portfolio.

For me, I’d prefer putting more aggressiveness in building the emergency fund, which means a higher percentage of the discretionary income should go to the emergency funds and a lesser percentage to your investment, until you’ve managed to build at least 3 months worth of your living expenses and then you adjust your approach and be more aggressive with your investment.