Retirement: Investing Your Hard-Earned Money and BITCOIN
Updated: Oct 4, 2019
BITCOIN down more than 2000 dollars in in just a few hours.
Let’s be real here, if nowhere else, at least here we can be. It does not matter if you are just starting out a new career in the military as newbie or if you are already retired or somewhere in-between. You have to, no, you must save and invest your hard-earned money for later in life, because you will always need money, no matter where in the world you are and following proper investing strategies will help you. BITCOIN (BTC) can be a temptation for many investors. A few of my friends are pushing me to buy BITCOIN as a part of my retirement investments, and I must admit that I have put some money into BITCOIN (only what I am not afraid of losing) and done ok, with a little luck I must say. Only because I got out before any major drops in the price of BITCOIN. I am no financial advisor, but if you are thinking of putting some of your money that you have set aside for your golden years, then please do so wisely.
Only buy as much BITCOIN as you can afford to lose. Look for low cost brokers or use low cost trading apps. Three low cost trading apps out there right now are M1 Finance, Webull and Robinhood. BITCOIN is a very volatile bet at best, so you must keep one eye on it. BITCOIN can jump 1000 dollars or more in a day, either up or down. If you want to take that gamble and invest in BITCOIN, then look for the down turns (500 dollars or more) when investing and hopefully sell before or at a peak, notice I said “hopefully” as BITCOIN can turn up or down in a heartbeat and when it does, you have to make quick decisions when buying and selling BITCOIN.
Never invest more into BITCOIN than what you can’t afford to lose.
Remember, most rich people are risk takers. So, if you are going to risk some of your retirement savings on BITCOIN, then do so with both eyes wide open. Be prepared to move quickly and remember, either way you decide, you may be the winner today and the loser tomorrow but if you do so, the be ready for either outcome when it comes to BITCOIN.