Create A Basic Plan

The Importance of Planning

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Primacy of Planning

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To offset uncertainty & change

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Focus on the objective

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To help in the coordination

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To help in controlling

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To increase organisational effectiveness

Before you can even buy Bitcoin, it’s always essential to understand why you’re buying.

Creating a plan is step one and often an overlooked step.

  • Do you want to HODL or DCA?
  • Just dip your toes in?

Time To Make a Decision

What does an exit plan look like?

If you have never created an exit plan, some things to consider include the following:

  • Your original plan: What was your original goal or plan when you first entered the space or bought those assets?
  • Have you made life-changing amounts of money: This is all up to your personal opinion/circumstance. We define this as any amount of money we would lose sleep over not taking off the table and would significantly alter an aspect of our life.
  • Tax implications: When is your tax due, what does your jurisdiction say about capital gains tax (CGT), and can you get a discount on CGT for holding? Please see your tax professional!
  • Judging your timeframe: Often, an exit plan doesn’t mean exiting 100% of your position—having a stable base is critical for me. It can depend on your timeframe and whether you believe in holding an asset for x years; this can influence how much of a % you exit.
  • Specific targets: It might be a specific time you want to sell or a certain price level, such as a plan to sell x% of an asset when it reaches x price. You can also prepare a plan for downward price action and what points you would sell or what you would do if the price reaches certain lows.

Our team created a resource and a second ‘secret course’ on exit planning.

Feel free to use them.