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โ€ข๐˜พ๐™ค๐™ก๐™ค๐™ง๐™จโ€ข Telegram | DID YOU KNOW?

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If riding a bucking bronco is your idea of fun, youโ€™re going to love what the stock market has in store. Consider this past weekโ€™s ride a preview.The weekโ€™s action didnโ€™t look like much, if you didnโ€™t know better. The Dow Jones Industrial Average rose 213.12 points or 0.6%, while the S&P 500 advanced 0.5%, and the Nasdaq Composite ended little changed.

Should You Buy Bitcoin?

In general, many financial experts support their clientsโ€™ desire to buy cryptocurrency, but they donโ€™t recommend it unless clients express interest. โ€œThe biggest concern for us is if someone wants to invest in crypto and the investment they choose doesnโ€™t do well, and then all of a sudden they canโ€™t send their kids to college,โ€ says Ian Harvey, a certified financial planner (CFP) in New York City. โ€œThen it wasnโ€™t worth the risk.โ€ The speculative nature of cryptocurrency leads some planners to recommend it for clientsโ€™ โ€œsideโ€ investments. โ€œSome call it a Vegas account,โ€ says Scott Hammel, a CFP in Dallas. โ€œLetโ€™s keep this away from our real long-term perspective, make sure it doesnโ€™t become too large a portion of your portfolio.โ€ In a very real sense, Bitcoin is like a single stock, and advisors wouldnโ€™t recommend putting a sizable part of your portfolio into any one company. At most, planners suggest putting no more than 1% to 10% into Bitcoin if youโ€™re passionate about it. โ€œIf it was one stock, you would never allocate any significant portion of your portfolio to it,โ€ Hammel says.

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Created: 2022-05-11

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