Bear Market tips
- discussion Peeranha Meta
I often read these two clichés about the bear market:
those who build through the bear market will thrive in the bull
the main skill you need during a bear market is capital preservation.
I agree with both, and I notice that scammers are also following them: watch out very carefully while navigating in web3!
And how are you protecting your capital before the next Bull Run?
investire periodicamente piccole somme ma con costanza
When you receive your salary or a check, who do you pay first? If you're like most people, you're probably paying everyone else first: your rent/mortgage, utilities, car payment, insurance, etc.
Then, once you finish paying all those bills, you'll probably keep the rest (if any) for savings. That's the classic scenario. Then you patiently wait for your next paycheck and repeat the process again. That is the great rat race to which the traditional system exposes us.
But if you ever want to get out of the rat race, then I want to share Robert Kiyosaki's secrets for doing it. Today I want to tell you about “pay yourself first”.
The philosophy of paying yourself first comes from George Clason's book, "The Richest Man in Babylon," which was written nearly a century ago. And, despite how the world has changed, his message is still valid today.
When Robert was young he didn't have much money and often found himself living paycheck to paycheck. To take steps into the future, he and his wife Kim hired an accountant. They did this because they knew how easy it would be to lie to themselves about their financial situation, so they needed someone to give them honest answers about their current affairs.
Betty, their accountant, helped them see their finances for what they really were, and the first thing they realized was that they weren't holding anything back for their future. Every penny they earned went toward paying off their debts.
People who choose to pay themselves first allocate money to the asset column of their balance sheet before they have paid their monthly expenses. Essentially, they set aside a specific amount of money early on and use what's left to live on. This is how wealth grows.
If you're not doing this right now, don't worry, it's never too late to kick your bad habits. Learning to manage your money properly, with a pay yourself first mindset, will ensure you have it to invest later.
How to pay yourself first With Betty's help, Robert and his wife Kim realized they had to change the way they handled their finances. So, they decided to pay themselves first and then pay their creditors.
Every month, whether it makes sense or not, they set aside a fixed sum of money for their asset column. They treated it like an expense. In fact, they treated it as their most important expense. Even during times when the cash flow was less than their bills, they still paid themselves first. And you can too.
The 10/10/10 Plan This is the plan that Robert and Kim Kiyosaki put into action. It may not apply specifically to you, but it is interesting to know it and understand its reasons.
After deciding to pay themselves first, they came up with the 10/10/10 plan. Each month, they would take 30 percent of their paychecks and split it like this:
10% Investment: Each month they set aside 10% of their income for great opportunities. His first $5,000 investment in a small rental house in Portland paid for itself this way.
10% Savings: Each month they set aside 10% of their income for emergencies and special opportunities.
10% for charity: each month they set aside 10% of their income to donate to charity. This is because Robert and Kim believe in giving back and that you must give to receive.
Agree with everything said above. Bear market is time for builders. It cleans the ecosystem from those who are here because of the hype. Bear Market teaches companies to plan their budgets carefully and strategically.