A recent fad is Bitcoin. Bitcoin was worth over $19k at its peak in 2017. Today’s value is under $8k. Riding the Bitcoin wave is a wild rollercoaster ride of ups and downs. For most people who live paycheck to paycheck, those lows can be devastating to their financial health. The lure of getting rich quickly is a game that can quickly end in bankruptcy and devastation to your career and finance core.
This week’s tip
Take a look at all of the ways you invest your money – in your home, 401k, the stock market, your business, collector’s items etc. Make sure that how you invest is balanced enough to ensure your financial health before taking big risks.
Here’s a helpful guide to some common questions you may have about the fundamentals of investing and planning for retirement: https://money.cnn.com/retirement/guide/investing_basics.moneymag/index.htm?iid=EL