Supercharging Your Retirement with Crypto: A Wise Move, or a Risky Bet?
I'm grappling with crypto at the moment. I've opened an account with eToro with a plan to make a $20,000 investment/gamble with the simple idea of leaving it for the next 10years to see what happens. I personally don't recommend this unless you're happy to lose your shirt.
With crypto in my mind I was interested to read an article this morning about how your President Trump has just signed an executive order that could change things up. It seems he's directing federal agencies to make it easier for retirement plans to include alternative assets like crypto and private equity.
It seems to be a big shift from the previous administration's approach. Supporters say it gives more choice and a shot at higher returns. But critics warn it's a risky move, exposing everyday savers to the wild swings of the crypto market
I'm assuming it will take a while to happen. But the question begs to be asked: Is this a smart way to supercharge your retirement, or a dangerous gamble? What do you think?
My view is that crypto should be treated as a long term gamble with money you can afford to lose. I'm really not sure of it being a suitable position in someone's retirement account. Would a financial advisor even be able to square this with the duty to advise in the client's best interests? I think it could probably expose them to possible lawsuits. It seems like a new can of worms is about to hit the ground. Any thoughts?
With crypto in my mind I was interested to read an article this morning about how your President Trump has just signed an executive order that could change things up. It seems he's directing federal agencies to make it easier for retirement plans to include alternative assets like crypto and private equity.
It seems to be a big shift from the previous administration's approach. Supporters say it gives more choice and a shot at higher returns. But critics warn it's a risky move, exposing everyday savers to the wild swings of the crypto market
I'm assuming it will take a while to happen. But the question begs to be asked: Is this a smart way to supercharge your retirement, or a dangerous gamble? What do you think?
My view is that crypto should be treated as a long term gamble with money you can afford to lose. I'm really not sure of it being a suitable position in someone's retirement account. Would a financial advisor even be able to square this with the duty to advise in the client's best interests? I think it could probably expose them to possible lawsuits. It seems like a new can of worms is about to hit the ground. Any thoughts?
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