Bitcoin was a really popular “get rich quick” strategy, so to speak, just about a year ago. Sure, some people did make a lot of money doing this, however, there were also plenty who were not so fortunate.
It is often asked if participating in these types of high-risk investing is an option, and it certainly can be. The caveat here is whether or not you are doing it in a responsible manner. Listen in around the 13-minute mark as John McCann explains this a little further. The mission of Michael and john is to cut through the noise and nonsense about money and give you the tools you need to build wealth, invest for the future, and put a plan in place.
Quote of the day: Discipline is just choosing between what you want now and what you want most. – Abraham Lincoln
Need to find something from today’s show? We have you covered down to the minute!
- Life insurance/Long-term product question – 3 Min
- What is Bitcoin and is it for me? – 13 Min
- Do all 401Ks perform the same? – 24 Min
- Self-employed and taking social security – 27 Min
- What happens when you inherit an inherited IRA? – 34 Min
The information contained in this blog does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Michael Clark and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.
Ep. 129: Bitcoin and Other High-Risk Investments: Are They Always A Bad Idea?