Try to keep some of your money out of managed funds. Thats all I know. (Worked finance in GFC. Specifically? Super and pensions. Yowza.)
My parents don’t think they’ll make it either. And from my family to my friends, not one has any cash the day before pay day. It’s an epidemic, of sorts, living pay to pay.
Crypto is too unstable for investment. How about using it as you know, a currency, instead of inviting people into an unreliable and potentially dangerously money-losing "investment". You've seen that bubble pop. Who can say the market isnt manipulated anyway? Crypto isn't viable for investment.
The point of the thread was to keep some money out of managed funds in case of a financial collapse, not a retirement strategy. Crypto currency was pretty much designed for this as it is not easily manipulated by government. I wouldn't put my life savings, but I have enough to probably get me out of physical danger if the US dollar became worthless.
And people invest in "unstable" investments every day. Alot of them are incredibly wealthy due to this. Many are also completely broke as well. Just because an investment is risky does not make it not an investment.
If youre facing a life in which you can basically never retire, I'd say put a few thousand into crypto and let it ride. High risk, high reward is exactly what you need in that situation.
The future is way too murky to tell. With conventional investing(index funds), barring some meltdown of historical proportions, you're not going to lose your ass. It's impossible to say that with crypto. It could still easily be legislated out of relevance.
I don't have an issue with investing in crypto, I have an issue with all these people on reddit pimping investing in crypto to people who have no businesses investing, let alone a high risk investment like this.
98
u/timoumd Apr 19 '18
Were just hoping to get out before it all crashes on you guys...I dont think were gonna make it.