[Article] Article: Bitcoins (or bitCON, if you prefer)
- Thread starter fly
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I still haven't made our investment because it takes a few days for the money to show up into the trading account. This is a total gamble, I get that. If I lose it, I do. It would suck, but it won't prevent us from eating.
I realize the goal is a long term gain, but it would make me sad to go down that much in such a short time.
Everyone has to invest within a risk profile they feel comfortable with. Before any serious investing is done, you have to be extremely fucking honest with yourself on what you think you can take. Some people think they can hack it, buy into something, then panic when it drops. That's pretty much the worst thing you can do, especially for long term investments. So if you're not honest with yourself about what kind of short term losses are acceptable to you, you can lose a ton of money.
when i first started saving for retirement, and it bounced up and down 10k a week that was very painful before i realized that was just the way of things. That was also when things were at their most unstable in early 2010 or so
I'm with you guys 100% here. It's still stressful seeing a big loss.
I started my retirement funds in 2001 because my employer matched 8% and I was single living with my parents. It was nice to ride the up side of the curve there for a while but the drop erased much of my gains. I realize I could still work for 40+ years after today but that's less than ideal.
I'm actually working with an accountant now so that I can structure my business where it'll automatically save monies on the side. If I can get these two parts companies to buy in, that would bring me over $3k monthly in sales. Not bad for part time.
2010 was the most unstable investment time?
While the recession really kicked into gear in 2008, it was just a downward spiral for a while. In 2010 it was really bouncing around, high low high low etc.
Yep. I've only made one strategic shift ever with my funds, which was actually to a more risky profile. I was in the safe safe safest fund from 2006-late 2008 when things were really crashing down hard, even with the crashes i was still seeing 1% gains or so (miserable, but at least i wasnt loosing). Then at the end of 2008, I shifted my whole safe fund to a minimally risky fund since it had crashed so low you could get 10X the index amount you could a year prior). I bought into that fund with my safe money and to be frank, i got fairly lucky, it never went lower than that day i bought, and now is almost back to where it was. So i got 10X the shares i would have by buying low.
Which means that if you can get your household expenses below $3k, you can retire from your main job right now.
edit: Whoops, sales not profit.
Now you're joining the conversation.
I'm working on getting a weekend apprenticeship with one of my wife's relative's friends. Apparently the shop her relative works at has an old timer that does the trimming (upholstery) and they asked him if he would consider it. Fingers crossed, the guy has been doing it for 40 years so he has lots to teach.
April and I are already trying to work on our expenses. Bought a whiteboard with income/outcome on the wall, so that its always in our face. Will be comparing month to month and tracking overall expenses and savings.
We're also both getting our feet wet with ideas of our own companies. For example, I'm probably going to try and see if I can sell preconfigured Raspberry PIs as HTPCs. We'll see...
brb, emailing that crazy Alaskan chick that used to post here. She just mighta been a bean licker too!
im impressed that you hit every major point. Most people forget disabled and just got with the minority woman veteran owned angle.