PSA voice of reason on crypto

PSA voice of reason on crypto

You should not be putting your entire bank into crypto, no matter what, no matter how amazing it seems, no matter how great the returns seem, no matter how special this is going to be, no matter how "different" this investment is from all the other ones, no matter how much of a new paradigm this will usher in

Follow John Bogle's advice:
-Put your age% into low fee bond index funds, or age-10% if you're above average rich and want to be risky for more gains
-Put the rest in low fee stock index funds, S&P500 or Wilshire 5000
-Take 5% of your money as "fun money" to play around with and put into speculative stocks, crypto, whatever you want. You might make decent gains, or you might convince yourself that it's a better idea to put it all back into the index funds. This can be 10% if you, once again, are decently rich and want to be risky. But don't push it anons

Have fun anons and don't be stupid here. Make sure to hold SOME crypto though. But this is NOT something to put your life savings into. I've seen anons spending their student loan money on crypto? Jesus CHRIST. Get real. This is retarded and you deserve to go bankrupt

God speed anons

No way, it's different this time, free money moon lambo

Also, if you're new to investing in general and have only ever really gotten into it JUST NOW, through crypto, take heed to this advice especially

You've never experienced a bear market, you've never experienced massive drops out of nowhere that DON'T recoup ever. You're used to making massive gains because this is a bull market

You're NOT "smart" for investing into crypto. Anyone can do it right now, and everyone is. You're lucky and you're here at the right time. This isn't "YOU" making the money it's the market, and the market can take these gains away at any time.

Don't get cocky faggot

>low fee bond index funds

stopped reading right there. I didn't know you browsed Veeky Forums Grandpa, climate change is real.

sorry gramps, im in this bitch

shutup faggot. glad cunts like you wont be at our moonbase

You know, it's "safe" people like you who never get rich. You're too afraid to take financial risks so you will never be rewarded. You're a coward and I'm ashamed to share this board with you

I'm in my early 20s thanks

This is a longterm game. You're going to be 90 some day and you'll wish you had invested conservatively when you lose everything at 35 by investing too aggressively for your age bracket. You don't have forever to earn this money back if you lose it all so you have to be conservative

Never lose money, you have to make even bigger returns to recoup it, plus recoup what you would have made by simply staying in the market

Fuck off Boglehead. I just borrowed $10,000 out of my 401k to invest in Stratis.

Have fun wage slaving while I'm hanging out on the French Riviera.

I'm not a coward, I have probably more crypto than you.

This is a game of statistics.

If you want to be either super broke or super rich, go ahead. But I'd rather take the two options of being either kind of rich or average.

I've already withdrawn 3x my initial crypto investment and still have 7x that investment in crypto. I'll be fine old man, worry about yourself.

Besides, you're not going to change anyone's mind. We all think we know better than you and some of us actually do because you're obviously not that bright.
>You don't have forever to earn this money back
It's actually the exact opposite. You can afford to be risky when you're young because you do have years and years to make it back. When you're 65 and retired, yeah playing with 25% of your money in crypto is a bad idea.

I specifically said a hypothetical age of 35 in that post. How can I know how old you are? Cuck

I appreciate the sentiment user, but we're mostly NEETs gambling spare tendie money. Going big so that I might NEET eternally.

The only good advise is: invest what you can lose.

If you're young and are okay with losing 50% of your money? Why not go for a high risk high reward investment like crypto.

I've put in my principal, gained a huge multiple on it, and already taken out my principal and am letting the profits on it keep running on their own.

Look at pic related. You don't have to set that much aside to ensure some security late in life, regardless of what happens to the crypto market

I think 10% is really hard to guarantee though isn't it?

And you have to account for inflation.

However this is why I've always thought that if I could simply get $100,000 put away by the time I'm, say, 28, which is perfectly reasonable for me who just turned 22, I would be set for life from age 65+. I could let that money basically grow on its own til I was 65+ and from them on never worry about investing in my retirement again but rather put all money after that towards retiring sooner than 65. Every year's worth I save after that would be a year off of 65 from my retirement and eventually I would simply retire.

Would that make sense?

10% seems kind of ridiculous though to expect every year for 40 years but I'm not sure.

It doesn't have to consistently hit 10% every year, just average it out over 40 years and that's actually considered fairly realistic with a good index fund. But yeah you have it exactly right, whatever decent sized amount you can put together into stocks early in life is a great move just to assure you that in your older age you're not gonna be fucked. Which of course shouldn't stop you from riding the crypto returns.

I just took out a loan to put into low fee bond index funds
thanks user

Just bought Enron stock user, thanks.

I'm investing 25% of my portfolio into crypto. The rest is stocks, real estate, and cash. It's getting really hard to justify holding cash though, since crypto keeps going up

wow 10% in a whole year!! you're right. that's the way to go. I should really stop getting these 200% returns and opt for this tried and true method of being FI when im too old to get a boner.

my wife and i have got so much money in real estate that none of this really matters.

pity we're mortgaged up to our eyes, the grandkids will be grateful though

%5 of a lot of people's money is like $75 a month. And that's someone who's making more than minimum.

whoa whoa whoa. you only get 10% if youre super lucky and pick a stock that booms. then your broker takes his fees too

No you didn't, you said that's when we would lose all our money. You never said that was this year. I took it as you meaning that if we continued to risk and succeed eventually in several years it will bankrupt us.

>How can I know how old you are?
Exactly. You can't. So stop giving broad spectrum investment advice when you have no idea about the people you're giving the advice to.

go big or go home gramp

I literally have 15k worth of spending money that I'll have free after paying for school, so I'm putting aside around 8k for crypto. I know full well I could lose almost all of it

I like this post. Upvoted.

while we're talking meta-crypto, i see that the market cap is 94.5 BILLION dollars.

just found an article from last month about how the cap was at an ath of 27 billion. shits going bezerk

Go big or go home.
If you aren't willing to get rich or die trying, you'll never find success.
Fortune favours the bold. That's another way of saying there's no reward without risk.

>going to be 90 someday
Doubt it, noone on either side of my family has ever even made it to their 80s. I have 90% of my net worth in crypto and don't plan on changing that. I do take monthly payouts to keep it at only 90%, already withdrawn more than double what I originally put in.

this, dumped my all saving intro crypto and soon enough I'll have enough to move out and not give a fuck, shit easily tripled in a fucking week.

>angry nocoincer detected

you still have time to join in

Post your holding then you fuck.

I have a crypto-based business. As far as I'm concerned the only reason I have fiat is convenience. You're the cuck to not realize it is the future.

All I am saying is set aside a chunk to put on the more secure asset and then go back to the crypto lambos

Only thing secure is a fucking piggy bank

Make that money work

user

My OP specifically gives different advice based on your age range

>says to put 5% of your gains in crypto MAYBE

>says he probably holds more crypto than we do

>nomatterhowmuchyoubellieveinthetech.jpg

>heardthisbefore.wav

Proof of holdings then pls or kys

I don't know Grandpa. Think about putting 20% of your savings into IBM, Oracle, or Google during their IPOs. The world is being consumed by technology and decentralization has been building momentum more and more over the years, ever since the widespread application of SAS and cloud hosting took off. We are also at a period of mass global economic uncertainty and nationalism and many will be interested in a currency apart from fiat.


The crypto bubble is real and it will pop and consume many alt coins just like the dotcom bubble, but along the way, massive profit can be made. And once the smoke clears, for those that have true, useful technical application, the purchase of them now will make many rich in the future.

Nope there's a 100% chance we're going to enter a recession some time in the next 5 years that'll crash stock prices and a 100% chance that governments around the world will print more money. So the safe option is actually to go ALL IN on crypto currency.

Nope. This technology replaces currency and stock investing at the same time and opens up world trade. Not having to worry about the world economy going to shit. 2008 crash was rough. Done with normal investing. You'll look back and wonder why you didn't put every penny you had into BTC.

ETERNAL NEETDOM OR BUST

I dumped money into strat ico and I have 820k profit to withdraw slowly. Taxes are a bitch, but idfaf Im rich as hell now. Stay poor 2% annual gain normies.

We're going to have 10x more than you at a young age than you will have at 65 in the next 5-10 years or less.

he just doesn't realize the dollar the greatest bag of them all

fpbp

>It doesn't have to consistently hit 10% every year, just average it out over 40 years
oh shit i've made too much in crypto even averaged over 40 years.

I better take it out and place it into the stock market and lose money.

>just average it out over 40 years
10% over 40 years is 45x
You would really only get 5% which is 7x over 40 YEARS.

Crypto gains are 30x in 6 months.

this lol ive made like 3 generations worth of gains in 6 months

>million-dollar-salary hedge fund managers getting wrecked by fucking bitbean

>bitbean
Up heaps today :D
praise the shitbean

That investment advice is for people who have wealth and want to keep it.
Everyone here wants to make wealth. Yes, the day might come when this all comes crashing down but anyone can say that. This is an entirely new take on currency and you're still thinking about banks and index funds. Did it ever occur to you that not only are these not 'safe', but that with the dollar under increasing debt that the entire financial system can easily say fuck it too and move to crypto?
You'll be left in the dust. There are no assurances in life, you think you're playing it safe by being out of crypto while in my view, you're taking a risk by being out of crypto.

Let's revisit this on 3 months.