You Can Build Sustainable Income In A Bear Market

in LeoFinance4 months ago

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You Can Build Sustainable Income In A Bear Market

I've been doing a lot of work recently on passive income methods and just income generation in general. I have some big goals I want to hit asap just so I can start enjoying life a little more outside of working 24/7 lol That being said I was talking to a few friends over the holiday weekend and they talked about why bother trying to build income right now when inflation is high and stocks etc all feel like they are going into the dump.

This made me realize that most likely a lot of people feel this way. This article is going to reinforce why more than ever during times like this it's more beneficial to work your butt of and build that sustainable income compared to when everything is in a bull market rally.

Down Times Happen Often

I feel one of the common misconceptions people have is if they are making passive income and sustainable income in a bull market that they are set for life. This couldn't be further from the truth!

Bear markets and downturns in the markets happen much more than rallies and they often last long and can have a devastating effect on people. That's why now when we are in a bear market if you're not sustainable then I'm going to be honest with you, you never were!

Moments Like Now Are Critical To Real Success

Moments like we are having now with a massive sell off and then pushing into a bear market are actully the perfect times to get a reality check on how well off you really are with your goals.

It should be a real kick in the butt as to what you need in order to get to a real sustainable income. Sustainable income is passive style income or income at your own business and what you do that allows you to be sustainable in all market conditions not only when we are in a bull market.

The last bear market in crypto lasted for years! While the bull market lasted 2 short months. That should put things into a little more perspective.

The Real Benefit

Now there's a huge benefit with this when you start training your brain for this. Once you start making sustainable income in a bear market the next goal should be in being ok in a down turn market. That's a rough one but estimate a possible drop in 20% value or more and would you still be ok at those levels? If so you're golden! If not it's an extra bonus goal to strive for.

Being sustainable in a bear market means when the market flips to bull you're going to be BETTER than sustainable. That means extra income you didn't expect that can either be used for fun or stocked away to further boost your bags.

What are you plans for growing your wealth and sustainable income during this bear market?

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Absolutely, fortunes are made in the bear season and realized in the bull season.

This is the time that counts!

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My plan is to keep on doing what I do, regardless of the market conditions. Why stop growing just because everyone seems to be worried?

This post has been curated by the VYB curation project!

I don't have any other plan than not giving up during times like this. I have seen people complain about Hive price being too high during the bull market and wished it'll go down so they can buy or be more active. Sadly, they opt out when the opportunity arrives.

I don't think I'll be going anywhere even if we dip further. It's best to always show up daily no matter how pumped or down you are, that is the true power of consistency, and it beats talent any day.

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I think you definitely can if you stick with what you know and venture out only a little. I just don't see hive going anywhere so it makes me think that is the place to accumulate. Having said that, I probably won't be smart enough to invest, only grind lol

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I don't really plan on doing anything different (bear or bull market). Build my positions and make sure to invest into solid projects/cryptos. For Hive, just staying active and growing as well.

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Isn't that we've been told to save for a rainy day? So that we can have what we need we're not able to go out? Or to have enough money saved to cover at least 6 months' worth of expenses and/or wages/income?

So we need to apply that to investing. We may not be able to invest as much as we want due to more pressing needs, but isn't that what DCA is for?

On the bright side, nearly everything is at a discount. In some cases, there are fire sales on certain projects which had been neglected but are either in drydock waiting to be retrofitted with new features, or projects where it is known that the cavalry will arrive. For me, this means CUB and Hive Layer 2. It also means sufficient ETH, BNB, and MATIC to conduct transactions. Beyond that, Litecoin (LTC).

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I'm not making much income, but I did picked up some cheap coins lately.

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You sure can. I've got some running very nicely. I <3 crypto!

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It should be a real kick in the butt as to what you need in order to get to a real sustainable income.

REAL SUSTAINABLE income.

If it's not enough to survive (or hit whatever goal you have for your passive income stream) during a bear market, then it's not sustainable.

Get your house in order right now and you'll be flying if the bull returns.

And if not?

Well it doesn't matter because you're at a sustainable level! ;)

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