Repercussion of " Have Fun Staying Poor"

 

For the past 2 years, we have seen the market bull run mainly in technology and the crypto realm. 

For the past 2 years, we have also seen a new breed of investors jumping on the bandwagon especially so in the crypto space. 

There are also bloggers or youtubers suggesting  putting less than 5 to 10 % of their total investment portfolio into crypto currency, but from what i see, how many of them really does? 

Some became "millionaires" during this crypto bull, and some lambasted " Have Fun Staying Poor" on people investing other assets than crypto. 

Lo and behold, Luna saga came and crypto crash. 

These new breed of investors or speculators tasted Repercussion of "Have Fun Staying Poor".     

Common question in the finance blog scene

 Saw uncle 8888 post 

https://createwealth8888.blogspot.com/2020/11/financially-me-it-is-about-earning.html?m=1

Typed this while doing my ”chocolate” big business 

Nowadays, thanks to internet, information is abundant.And there will always be this common question asked in financial blogs or sites.

Question often goes like this ： I saw you...., I hope to ...

The principals are : hard work to build your foundation, be smart to know when to change plans when things doesn't work out,dedication and accountability to your action. 

The principals are simple, but hard to follow for the hopeful most.

why the more slack you are, the more emergency fund you need

This is prior to http://small-timeinvestor.blogspot.com/2020/05/true-meaning-of-emergency-fund.html

There are two points to see this :

1) Work performance

This is rather straight forward. Your work performance may be deemed as "slack" by your superior for various reasons. Thus your "slack" work performance will require you to have some short of buffer in terms of savings, in case shit happens.

2) You want a "slack" life

This will define the quality of "slack" life. Some are good to go for 3 simple meals, while some want daily posh meals. If you are the second type, prepare to grind more hard and also save more, in case, the first point happens.