11-03-2021, 08:07 AM
I wish more people would talk about investing in terms of percentage of their income
<!-- SC_OFF --><div class="md"><p>If someone comes a long and says “I invested $10k in (whatever coin)”, that may sound like someone really believes in that coin, but that may also be a very insignificant amount of money to them. I want to know what kind of risk people are taking. How much does this money mean to you? I think people are lost in dollar amounts. I see people here asking all the time “Is it worth buying $100 of Bitcoin?” I have no idea. What is $100 worth to you? If you believe BTC will double and $100 is your net worth, than you’re going to double your net worth. </p> <p>How much you spend on a particular coin is largely irrelevant. You need to be focused on what percentage of your income that risk represents. That’s how you factor risk. Comparing your dollars to someone else can be completely meaningless if their net worth is drastically different than yours. I think it would be great if more people were saying “I invested 5% of my monthly income into X”. That’s much more of an indication of how they really feel about it.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/redditsgarbageman"> /u/redditsgarbageman </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qljnag/i_wish_more_people_would_talk_about_investing_in/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qljnag/i_wish_more_people_would_talk_about_investing_in/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>If someone comes a long and says “I invested $10k in (whatever coin)”, that may sound like someone really believes in that coin, but that may also be a very insignificant amount of money to them. I want to know what kind of risk people are taking. How much does this money mean to you? I think people are lost in dollar amounts. I see people here asking all the time “Is it worth buying $100 of Bitcoin?” I have no idea. What is $100 worth to you? If you believe BTC will double and $100 is your net worth, than you’re going to double your net worth. </p> <p>How much you spend on a particular coin is largely irrelevant. You need to be focused on what percentage of your income that risk represents. That’s how you factor risk. Comparing your dollars to someone else can be completely meaningless if their net worth is drastically different than yours. I think it would be great if more people were saying “I invested 5% of my monthly income into X”. That’s much more of an indication of how they really feel about it.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/redditsgarbageman"> /u/redditsgarbageman </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qljnag/i_wish_more_people_would_talk_about_investing_in/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qljnag/i_wish_more_people_would_talk_about_investing_in/">[comments]</a></span>Kind Regards R