Balancing my Portfolio. What goes Where?!

So far I am thoroughly enjoying my journey through the maze of what is the Crypto world. And whilst I am a risk taker I do believe in the following steps before investing in speculative ventures.

These steps, in their various yet similar formats, are shared on the Net and are a guide only (not financial advice). Yet they are steps that I personally believe in and follow. ( And yes we can stray from this format at times due to unforeseen circumstances. Indeed it has happened to me as well. However, if we implement the strategy properly, then there is less risk of failure whilst adhering to the following philosophy.)

• Step 1- Create an Emergency cash account with $1,000 (or an equivalent) in a high interest savings account for quick access.
  
  
• Step 2 - Pay off all Consumer Credit ( redo your budget and be strict with yourself. Use the extra money to pay down debt then that same money can be used for investments once the debt is cleared)
  
  
• Step 3 - Save 3-6 months of expenses in your emergency cash account. 
  
  
• Step 4 - Commit to investing a percentage of your income e.g. 15% to 20% in a balanced portfolio.
  
  
• Step 5 - Consider your goals as to owning or renting a home and saving for your children's education. You may wish to pay off your mortgage before building further wealth. (Seek professional advice)
  
  
• Step 6 - Build Wealth 
  - Create an Investment strategy. (The following is merely an opinion. Seek professional advice if you have any questions.)
  1. Maintain your cash reserve for emergency purposes only! 
  2. Maximise your retirement plan (speak to a tax accountant) 
  3. Invest in less volatile managed funds/ investment plans.
  4. Consider investing in cryptocurrency
  
  Whilst I can not give financial advice, I favour a diversified portfolio of EFT's (Exchange Traded Funds) or as an alternative, Managed Funds for step 3. This is an individual choice. (Remember, the old adage 'do not have all your eggs in one basket' is very pertinent when creating an investment portfolio.)
  
  In order to have a mixed Portfolio I am to invest further with Crypto currency. Investing in crypto assets is quite risky but it is also potentially extremely profitable.  Yet know that one must do so with open eyes and to expect extreme highs and lows in the cryptocurrency market. Do not invest emotionally. Use your common sense and do your research.
  
  But most of all just enjoy the journey. I do believe there is a future for cryptocurrency in one form or another. And so I too have joined the ranks of crypto investors as part of my personal strategy with funds allocated for step 4 of my wealth plan.

  I look forward to your support in any way that you can.

My ambassador link: https://www.publish0x.com?a=APdROAAEeG