Who here ever wanted to be rich? or does comfortable sound more like what you would settle for?
Do you have a plan for this or are you just dreaming of a good life?
We have covered the "boring" part of having a protection plan in place, now I am going to cover risk profiles.
Where do you stand in your attitude to risk?
Does the thought of loosing half your money keep you up at night? how about 25% how about 10%. We all have risks we take in life. Even getting in a car and driving to work is a risk! but do you drive slow, average or fast?
The risk reward ratio is the same in this factor, the higher the risk (fast) the quicker you will get to your destination (work).
Same with investing, the bigger the risk the bigger the reward, basic I know, but crypto would have to be one of the riskiest places to put our money. this would be the equivalent of driving a drag car to work down a busy freeway. I'm sure you would go fast in some sections then slow down rapidly or even hit someone (sudden market crash). Not discrediting the crypto world as i own some myself but only a small amount that would not affect me if I lost all my money.
The point of this is to realise your risk type and invest more towards what you feel is your risk profile to keep you sane.
I feel property in a major city is a solid investment as people always need to live somewhere, but don't exactly need crypto.......for now :)
What is your Risk / Reward Ratio that will keep you sane??
I am 16 year old. Few months ago a started looking a lot into crypto and quite a bit of reading articles and price preductions and all of that i finally decided to put some money in VeChain(around 500$). The first month I was looking at the price all the time looking for any pany down or up... But with time the interest mas no longer a lot so I stopped really looking into it and Risk was nowhere to be seen.
Hey zhelyazkou,
Thank you for the reply mate, thats awesome you have started so young! The way i see it is If you stopped looking and not worried, that means you are comfortable with the loss of $500 :) crypto is in early stages so by the time you are 21 you may have enough to get a car
I guess... VeChain made a deal with BMW 2-3 months ago... Maybe I can buy an i5 a few years later 😂
Who knows in this unchartered new world