Thanks for reading Finesssing Finance. Your support is recognized for fueling my journey to help people with free, accessible personal finance content.
A Meeting with Our Financial Advisor
The past week, my fiancee and I met with our financial advisor provided free as a work benefit. The advisor was enthralled at our retirement contributions and our plans for the future together as we discussed how wealth would play a part in that. We bounced around topics like budgeting, retirement, and tax optimizations on investments. The advisor’s eyes lit up when he knew he was talking to a financially literate couple.
One topic I wanted to bring up with him is the crypto landscape. We’ve been seeing the crypto market crash with no end in sight within the recent market news. I asked him his thoughts.
The advisor gave his thesis on how crypto is most definitely the future of peer-to-peer payments and not an investment to ignore. With this knowledge, I picked up a fraction of Bitcoin and Ethereum this weekend.
The Current State of Bitcoin
After months of rising in price, Bitcoin has fallen nearly 70% since its ATH (all-time high) of $64K. People are ditching crypto at this point in time mainly due to an upcoming recession. The majority of Americans would like to keep cash on hand should an economic disaster occur. While this is important, we should seek to balance having cash in our accounts along with our investments.
Right now is the perfect opportunity to invest in larger cryptocurrencies like BTC and ETH. Many of my crypto fanatic friends highly recommend ETH at this time for the possibility of generating wealth in the future. A reminder that crypto is highly volatile and the expectation is to ride the wave until the economy roars back within the next few years.
Where to Buy Cryptocurrencies
There are plenty of exchanges that offer the opportunity to buy crypto nowadays. Personally, I keep my crypto investments separate from my taxable brokerage account, keeping my stash within Coinbase. I’m comfortable with the user experience and familiar with the
I’m by no means an expert in the intricacies of crypto. My crypto expert friends had only recently gotten me to set up a wallet outside the exchanges like Coinbase. However, I do see the utility of the asset for the future and aim to invest a portion of my income into the technology that will drive our society forward. Will you?
Have a great week,
Jordan