FOMO Fund?
At some point this week I was smitten(?), smote(?) with some divine inspiration for Leo Finance posts. I was itching to get them down, but since I had already posted on the day they came to me, I decided to hold off. The wait was excruciating!
I posted one yesterday, and the rest of my thoughts are being put down today.
I can't remember who the inspiration for this post was. I went back through my replies and tried to find them, but I comment a lot, so it was a ton of content to dig through.
We were talking about FOMO In the comments section and that got me thinking about the idea of creating a FOMO Fund.
This is a personal thing, and it is going to look different for everyone because we are all at different levels of this crypto game. The basic idea is you take a small portion of your income or earnings from crypto and you set that aside to buy into some of these projects that you see some people getting excited about.
Sure, you probably won't get any huge payday's, but if you hit maybe one or two, it could make a huge impact on your finances.
Plus, if you get in the habit of moving that money aside regularly, eventually you will likely not even miss it!
10% is The Lord's, 30% is the king's, and 10% is FOMO's
I think that has a nice ring to it don't you? Very medieval!
I think having something like a FOMO Fund would go a long way towards helping you tame the beast. In fact, as it grows and you grow, it probably won't even feel like FOMO at all. Many people have gotten past that whole FOMO phase and they now call their FOMO Fund something boring like an "investment account".
I think FOMO Fund is way cooler!
I am in the process of building up some passive income streams to funnel into my own FOMO Fund. The cool thing is, since passive income is driving it, it has zero negative impact on my traditional funds.
What do you think? Is a FOMO Fund a good idea? Do you have one? I'd love to hear your thoughts in the comments!
Sports Talk Social - @bozz.sports
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I have actually been reading and watching alot more on budgeting better now with some new found crypto money.
Seems the common thing is a 10% freedom fund, for market crashes and what not.
So a fomo fund in crypto make perfect sense.
That is definitely interesting to hear! I might have to dig into that a little more. I have been toying around with moving some more of my passive stuff into stable coins just to be safe. We will see though.
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That is looking like a good plan to follow. And yes the FOMO are just seems inevitable, too tempting not to join in.
especially if you are into the BSC token craze lately.
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Yeah, for sure. There is just way too much going on and not enough money to throw at all of it. If you can setup something like this, you can at least dabble in a little bit of it!
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Nice concept...fomo money, hit or miss fund....all sound alike, but I like the idea, it should be easily adopted by people with alternative sources of income, it’s something I will do if I could
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I don't think it always has to be an alternate source of income. I think if you just start with a small percentage it can add up.
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Oh of course that’s how I built my hive power, 1$ here and there, sometimes 3, with every article, the definition of little drops, it’s all built up nicely over time, i remain grateful to hive for the opportunity
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Lol, love the idea! Basically a little piggy bank to keep in reserve and play with the houses money. Nice one!
Yeah, something like that. I think it would be a good idea to help fight the regret on a small scale.
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I think it is a good idea but I personally would not invest in it. My way of dealing with it is just to buy 1 stock/token and let it sit there.
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Fair enough. I think everyone has a strategy that they try to follow. It is probably a matter of personal preference.
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I vote this post 100% and the idea 100% too!!! LOVE IT! A FOMO fund.. perfect idea. It's sort of like a curse jar for my bad FOMO crypto choices. I like setting up little funds here and there. Pretty soon they start to grow and one day your surprised by it. Anyhow, it's fun to do if you can.. some can't I know. Staet you FOMO fund today!! I know I am.. hmmmm.. maybe I will just buy silver with it.
I really need to start getting my hands on some precious metals. I keep saying it, but I never getting around to just doing it. There is some really cool looking stuff out there.
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There's no getting rich quick on precious metals, but they can have a healthy return if held for a good while. You don't get those huge heart sinking fluctuations in price, that's for sure.
Haha, I bet!
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Haha, such a cool idea @bozz. Often times I want to buy a shitcoin but I don't have any money set aside for it and a few days later that coin moons.
FOMO fund can solve this problem. You are right, we just need to hit one or two and it will all be worth much more. Sometimes these shitty investments provide you massive returns overnight.
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Yeah, that is the exact way I feel and what prompted this post. I am so glad that I am not the only one who feels this way!
Yes @bozz, clearly there are so many who found this idea useful. Because it is useful.
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FOMO Fund, what a fantastic idea. Especially cool using passive income stream to fund it.
You are a genius! So glad you are part of the LBI governance outfit! I feel calm knowing my investment is in good hands.
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Thanks, I appreciate the vote of confidence! Did you catch the new project they have in the works? Post dropped today, it is very exciting. I've already laid claim to my first patch of cublife tokens!
I’m just starting to have a FOMO fund thanks to all the shitcoins pumping.
Nice idea! I can see why so many people get excited about it.
FOMO always demands more, if you only give 10%, you'll MISS OUT on the highest rewards. "You'll regret it unless you put in 100%" says FOMO.
Then FUD steals it all away when you panic sell. :-)
Haha, you are probably right!
I think it's a good idea to have a FOMO or gambling fund. Therefore you have a % of your portfolio you can play with and have fun with speculative things without worrying about losing the house and sleep well at night.
How is your FOMO fund doing these days?
Thanks for sharing on ListNerds 🙂
I think I spent it all! :) I am better at talking about things than I am actually putting them into practice!
😆😅 yeah I like to talk the talk but walking it is another thing! (as my wife reminds me)