We all know that old saying... Do not put all the eggs in the same basket... but do we listen to it and really act like that in our real life, or it's just a saying for showing how smart we are... on the paper...
Do you have Plan B? Do you have something in your sleeve for that What if? scenario?
I know that there are some theories, that having a Plan B isn't a good thing, as it can distract us from our Plan A... That can steal the focus from our primary job, work, or task... Yes, there is some truth in that, but it would have a sense of the success of Plan A would depend ONLY on us... But sometimes, things don't develop in the direction that we have precipitated, and we can get negatively surprised...
Plan B should be exactly what it means... A "backup" plan if something happens to the original plan, and we have to make some "radical" moves... It should be somewhere in the last drawer, for just in case... That we know that it is there, but don't think about it until that nasty time...
As we are living in very turbulent times, when we literally don't know what can happen tomorrow, the necessity of Plan B is a must... To protect our financial wealth, the best thing to do is to invest it in the "safest" assets... With all this money printing, it is a question if that $1 will have the same value tomorrow... So, why don't we protect its value before that happens?
In this video, I have tried to explain my point of view of protecting wealth, and different Plan B's, on more than one level... Check it out in the video above...
Thank you for your valuable time,
~ph~
Music in video:
Growing Up by Scott Buckley https://soundcloud.com/scottbuckley
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▶️ 3Speak
Awesome vlog Zoltan @ph1102 you are absolutely right we should have a plan b, for anything we do in business online or offline.
Often we hear stories of how people lost everything and had to start again from scratch, i have even had to do this myself.
These stories should stand as a lesson that especially with all the opportunity around right now that having a plan A and B in everything should be part of any business plan.
Have a great day bro
And you should probably never forget YOUR story... That knowledge and experience should be your biggest advantage and motivation over others...
I was happy to see your post inspired by this one... You did a great job!
Absolutely Zoltan @ph1102 bro yes will not forget my own story for sure will be using that to help others avoid the same mistakes.
I know i certainly have learned lol
Thank you buddy glad you liked the post really appreciate you saying so and a massive thank you for inspiring me with your vlog i was literally a blank canvas wondering before i watched it.
Have the best one my friend.
Even though I've been around for a year, all this crypto stuff is still new to me!
But always keep my mind open to learn about different tokens and I also believe in a diverse portfolio. But at the same time to avoid being overwhelmed I don't think I have a vast portfolio but is not too bad either. I will be learning about others as I go and also check on the metals as you mentioned!
Thank you so much! I've been missing watching you on a regular basis, shame on me because it keeps me focused on work while you talk lol :)
Well, one year in crypto looks like a lot, but actually, it isn't... Yes, things are happening every day, but still, it didn't move a lot in the last year... And we are learning until we are alive... I have no idea about a lot of things in crypto, but that doesn't limit me from learning them...
As I said in the video, I wouldn't go "too wide" with crypto... Yes, the video was about diversification, but going into 15-20 or more projects will be a bit too much... :) But, that also can have a good sides... if you are doing just that for living... :)
Thanks for your kind words. Appreciate your support!
There's a lot of great valuable information here! When I started trading part time in the regular stock market, that was one of the first things we heard from seasoned traders - always diversify your trades & also don't use money you can't afford to lose. Those two things always stuck with me...
As you know, I am well diversified in crypto & even in some of the stock market apps/crypto dapps I use. (In addition, I have an emergency fund that I never touch unless I truly need it.) Even though my primary focus is crypto now, I still keep my eyes open for tokens that are valuable to stake & hold as well as to sell. It gives me some comfort knowing I have these things started...it may not be a million dollars but just knowing I am building these things & not putting my all into one thing only really helps ease my mind...
The awesome thing is there are so many ways to do it & you don't have to do huge amounts right away (as you said). I really appreciate your perspective on this! This is something everyone should do, even if it's just 3 or 4 little things. That feeling is like no other! 💜
Thanks for taking the time to watch and comment on the post...
Personally, I have a dilemma about the crypto projects/coins that I want to HODL for the long-term, and it is about the use-case... Yes, it is important that there is a use case for some crypto, but that doesn't meant that "I have to use it"...
I mean, Hive is great as we can USE it to create more tokens, or EARN it while we HODL it... It can be the case with BTC and ETH, if we use them in DeFi projects, but at the moment, you can't earn them directly (as Hive)... That's something that I would like to change, but on the other side, I'm OK with that the part of my portfolio is stagnant and there for "just in case"...
Nice post. I agree, having a plan b is important. And keeping a diverse crypto portfolio is very prudent in my opinion.
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Thanks, @cryptocanny... Diversifying is good, but it has to have some limits... I remember that I went too wide a couple of years ago, and that isn't a good thing either...
Finding some sweet middle is the best... This time, I'm going with 3-4 crypto-s, and a bit of metal (but not on paper... lol)...
Cheers!
Yes that's true @ph1102 it has to be within reason. I think it happens organically as one progresses and gets a feel for crypto. You'll start to gravitate toward certain currencies and projects and narrow the scope.
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Planning is a very essential part of anything related to life
Diversification of the portfolio can help in maintaining a stable income
If you have patience and some extra amount then Crypto could be a good choice
Precious metals indeed the oldest method and a very good option
I bought some tokens like archon, jahm, and neoxian, and in less than a month and a half, some have grown in value like 4x, not bad at all. DEC and CTP also going pretty well.
It is better to take some risk rather than sitting idle :)
Beautiful presentation like always.
!BEER
This is true... Especially, if that's not more than we could afford to lose... Which means that we actually, can't lose, only win... hehehehe
That's an interesting choice... I know archon and jahm, but I didn't go deeper into that... Do you have some specific reason why did you pick them? I would like to hear your opinion... :)
Thank you :)
Yeah, archon for having a low number of tokens unlike others having a ton, making it more valuable.
neoxian because the leader is very supportive.
jahm also a very supportive and loving community.
I prefer more interactive communities.
It is a win-win when there is a purpose behind it.
Thanks for the useful information... I'm on growing my neoxian stake mission... :) Archon I have noticed what you said about the low total supply, and JAHM is indeed an interesting community...
Wish you luck with your investments!
You're doing great!
All the best
Gracias
https://blurtter.com/@globetrottergcc This is going fine, either just start posting there.
#blurtpromo
!BEER
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BEER.I like the way you break down diversifying plan B. Even in crypto, including HIVE and other cryptos. In hive, there are different Hive Engine tokens. By diversifying you are reducing the risk, it will help you in case things are not going well. Thank you @ph1102 for sharing this.
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My idea was to create Plan B for Plan B... That's why got into depth more... As people think, crypto is crypto, but it's not... There are a lot of different opportunities inside every project... and I like to diversify things when I notice that I'm to "centralized" :)
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