that in order to start investing, they need to be comfortable financially.
This is the truth. If one is comfortable financially then they won't dwell on the losses they'll incur as they go. Funny enough these losses or little disappointments here and there might seem like a lot, but it's actually the experience gained that's the gem we acquire as we go.
....And I did teach them how to start. By reading 2-3 big books about accounting and finances. And then practice.
This is really good. The theory or static knowledge they gain from reading eventually comes in handy, especially with people who do not even have any knowledge before they start learning knowledge they'll user later.
As for crypto (you want me to teach you 10 years of crypto activity in one day?) a similar request is needed (like invest a minimum amount in both BTC and ETH every month (a 50-100 into each)
This is classic DCA example and it's very powerful during the bear market or when prices in the market are down. I recently just realized the power of compounding, and I hope to put this into practice as soon as possible.
(I just bought 100$ of TRUMP to see what happens...). :)
It might just go up and down in the short run because it's a meme coin. However it's not just a meme coin, it's a presidential meme coin, so I think it might blow up in Q3 or 4.
Thanks for the wonderful comment
You are welcome.