I am like you; I have invested in stocks since I can remember (since I started working 23 years ago.) I started to save in precious metals about 7 years ago, and a little crypto five years ago. Cryptos are most volatile!
I am not as exposed to precious metals as I wish I was. I am trying to change that, but I think if I had the choice I would rather just stick with crypto. It might come back to bite me one day, but we will see.
I wouldn't call myself experienced at all. Lucky is probably more like it! I have picked up a thing or too, but I am relatively small fish compared to some people!
Great analogy. Love the Monty python films. I think you have more options for investing in the US with your 401k's but my main investment/traditional is like you in stocks and index funds that I hope will do some heavy lifting.
However, I do think there are some great opportunities in crypto and I hope to get a nice boost from them or to have wasted a lot of time trying. LOL!
Another aspect is getting a pension, if you retire early you could lose out.
Yeah, my wife and I are pretty lucky in that working for the public school system we both get a pension from the state. I've always been skeptical about whether or not that will still be there when it is time for us to retire though, so we both have a number of additional investments just in case. I honestly prefer being in control of my own portfolio versus counting on someone else. Imagine that!
No, it has not. I still invest in traditional finances and I still think crypto can succeed in the future. It's not there yet and I feel safer diversifying things as it has worked over the past few decades.
I'm the same way. I know to some degree it is a broken system, but I also know it isn't going away time soon. There will be some bumps, but it is here for at least as long as I am probably.
It’s a mixed bag in our household. My wife’s retirement accounts are “traditional”, my retirement/non-retirement investments are heavily weighted towards crypto. Hopefully at least one of us does well. 😅
Even my Financial planner balks at holding any amount of gold and looks at me funny. Same thing with Crypto. He's more interested in getting his trailer fees. Time to move what retirement funds elsewhere.
Yeah, I totally get that. My broker is the same way when I talk about crypto. It is only recently that he has really started to pay more attention. I know he is probably making a mint off me in fees, but they honestly make it so hard to have significant investments like that without having some kind of intermediary.
I have both, but I will be totally honest, I only count traditional investments. As far as I am concerned I don't count any crypto investment, to me they are all complete gambles and even though I have been in crypto since 2014 I am fully aware they could all go up in smoke. BTC aside, the rest have the possibility to end up at 0.
That is very true. I kind of look at my crypto stuff as icing on the cake. When I am retired, I will depend on my traditional investments to be my steady stream of income. If my crypto investments can supplement that, then all the better!
My opinions on traditional investments haven't changed so much as I have added crypto. I didn't want to change something that has worked amazingly well for me. I do deal in crypto, but, only with money that I am not counting on for anything.
I do day trading on the side and the profit from that is free money. (so to speak)
Emergency funds are so important, especially now in such uncertain times. I encourage my kids to put away 10% of their paychecks (even in High School) to a place where it can grow as an emergency fund. While it is not much money going in, it will be someday. That little bit rarely hurts.
I was always of the opinion that I wanted to have zero debt more than I wanted to have a ton of savings. My savings account suffered because of that. Even now when I don't have debt, it is still hard to get into that savings mindset. Especially since most of my investments just happen automatically.
I hear a lot of people in crypto saying legacy finance is dying and many in legacy finance saying crypto has peaked and will never regain its former value. I'm of the belief that neither of those things are true and both will co-exist for a long time to come. Our generation (X) is in a really unique position to have a little experience in both of these worlds. I think legacy finance is prepping to implement a lot of blockchain-based tech in the next couple of years.
I trust crypto more than the stock market. I have a Vanguard account and am invested in a few ETFs directly on their platform. I also track these using a third party portfolio tracker (Delta) and on any given day the Delta app shows my ETF portfolio is worth 25% less than Vanguard does. Vanguard always pads the value, and sometimes by a significant amount. It's so deceptive. Shady, shady things happen in legacy finance.
Paying off debt is ALWAYS a smart choice. I did that before I started building our savings/investments. With interest rates where they are our Amex high yield savings account has given us the best yield so far this year.
I know I need to do a better job of getting money into savings. It seems that there is always something that comes up. It's amazing how being discerning about your finances doesn't go away once your debt is gone. I agree, many of us our age are in the unique window of being able to take advantage of both sides of things. It's very exciting.
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I am like you; I have invested in stocks since I can remember (since I started working 23 years ago.) I started to save in precious metals about 7 years ago, and a little crypto five years ago. Cryptos are most volatile!
I am not as exposed to precious metals as I wish I was. I am trying to change that, but I think if I had the choice I would rather just stick with crypto. It might come back to bite me one day, but we will see.
Posted Using LeoFinance Beta
If I could trade in cryptocurrencies as experienced as you, I would definitely invest in it.
I wouldn't call myself experienced at all. Lucky is probably more like it! I have picked up a thing or too, but I am relatively small fish compared to some people!
Posted Using LeoFinance Beta
Great analogy. Love the Monty python films. I think you have more options for investing in the US with your 401k's but my main investment/traditional is like you in stocks and index funds that I hope will do some heavy lifting.
However, I do think there are some great opportunities in crypto and I hope to get a nice boost from them or to have wasted a lot of time trying. LOL!
Another aspect is getting a pension, if you retire early you could lose out.
Yeah, my wife and I are pretty lucky in that working for the public school system we both get a pension from the state. I've always been skeptical about whether or not that will still be there when it is time for us to retire though, so we both have a number of additional investments just in case. I honestly prefer being in control of my own portfolio versus counting on someone else. Imagine that!
Posted Using LeoFinance Beta
No, it has not. I still invest in traditional finances and I still think crypto can succeed in the future. It's not there yet and I feel safer diversifying things as it has worked over the past few decades.
Posted Using LeoFinance Beta
I'm the same way. I know to some degree it is a broken system, but I also know it isn't going away time soon. There will be some bumps, but it is here for at least as long as I am probably.
It’s a mixed bag in our household. My wife’s retirement accounts are “traditional”, my retirement/non-retirement investments are heavily weighted towards crypto. Hopefully at least one of us does well. 😅
I hope so for you as a well! It sounds like you are well diversified no matter what!
Even my Financial planner balks at holding any amount of gold and looks at me funny. Same thing with Crypto. He's more interested in getting his trailer fees. Time to move what retirement funds elsewhere.
Posted Using LeoFinance Beta
Yeah, I totally get that. My broker is the same way when I talk about crypto. It is only recently that he has really started to pay more attention. I know he is probably making a mint off me in fees, but they honestly make it so hard to have significant investments like that without having some kind of intermediary.
Posted Using LeoFinance Beta
I have both, but I will be totally honest, I only count traditional investments. As far as I am concerned I don't count any crypto investment, to me they are all complete gambles and even though I have been in crypto since 2014 I am fully aware they could all go up in smoke. BTC aside, the rest have the possibility to end up at 0.
Posted Using LeoFinance Beta
That is very true. I kind of look at my crypto stuff as icing on the cake. When I am retired, I will depend on my traditional investments to be my steady stream of income. If my crypto investments can supplement that, then all the better!
Posted Using LeoFinance Beta
Exactly , crypto is the icing on the top!
The treats and bonuses will be from crypto ;)
My opinions on traditional investments haven't changed so much as I have added crypto. I didn't want to change something that has worked amazingly well for me. I do deal in crypto, but, only with money that I am not counting on for anything.
I do day trading on the side and the profit from that is free money. (so to speak)
Emergency funds are so important, especially now in such uncertain times. I encourage my kids to put away 10% of their paychecks (even in High School) to a place where it can grow as an emergency fund. While it is not much money going in, it will be someday. That little bit rarely hurts.
I was always of the opinion that I wanted to have zero debt more than I wanted to have a ton of savings. My savings account suffered because of that. Even now when I don't have debt, it is still hard to get into that savings mindset. Especially since most of my investments just happen automatically.
Posted Using LeoFinance Beta
I hear a lot of people in crypto saying legacy finance is dying and many in legacy finance saying crypto has peaked and will never regain its former value. I'm of the belief that neither of those things are true and both will co-exist for a long time to come. Our generation (X) is in a really unique position to have a little experience in both of these worlds. I think legacy finance is prepping to implement a lot of blockchain-based tech in the next couple of years.
I trust crypto more than the stock market. I have a Vanguard account and am invested in a few ETFs directly on their platform. I also track these using a third party portfolio tracker (Delta) and on any given day the Delta app shows my ETF portfolio is worth 25% less than Vanguard does. Vanguard always pads the value, and sometimes by a significant amount. It's so deceptive. Shady, shady things happen in legacy finance.
Paying off debt is ALWAYS a smart choice. I did that before I started building our savings/investments. With interest rates where they are our Amex high yield savings account has given us the best yield so far this year.
I know I need to do a better job of getting money into savings. It seems that there is always something that comes up. It's amazing how being discerning about your finances doesn't go away once your debt is gone. I agree, many of us our age are in the unique window of being able to take advantage of both sides of things. It's very exciting.
If you've paid off your debt you are WAY ahead of the game. I applaud you for doing that, it's something to be very proud of!
Thanks. The mortgage is next in the list.
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