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I have a crypto FOMO! “I’m too old to sit down and I hope I can make up for the lost time by investing a little money safely.”

Dear Quentin,

Currently, I’ve saved about $ 20,000. I think a 6 month rainy day / emergency fund would cost about $ 10,000 or a little less. I have a monthly pension of $ 3,000. I live with my sick father, but I’m not currently working and I’m not looking for a job. I use the GI Building to go to college.

I’m almost 50 years old and I don’t have a 401 (k). I have experienced a very bad time in the last few years and have lost everything. My only debt is a car payment of $ 300 per month with 4% interest.

What should I do with this money?

I feel FOMO where the stock and crypto markets are skyrocketing. My money is just left in the bank — in the meantime, if I had put $ 1,000 here and there, awesome, I would have made a lot of money! At the same time, I don’t want to be the kind of person who jumps into the peak just before the market begins to “fix”. It’s a downhill competition for my investment.

I’m too old to sit down and I hope I can make up for the lost time by investing a little money safely and getting a 5% profit over the next 15 years. ..

Thank you for your help.

Broke bob

For financial and ethical questions related to the coronavirus, email The Moneyist at qfottrell@marketwatch.com and follow QuentinFottrell. twitter.

Dear Bob,

If we know.

If we know bitcoin
BTCUSD,
+ 3.13%

Was going to be Include Cryptocurrency.If you know Tesla’s founder Elon Musk
TSLA,
+ 1.11%
,
Talk about dogecoin
DOGEUSD,
+ 3.83%
..
If you know Ethereum
ETHUSD,
+ 2.39%

It will be a surprise hit this season. Only if.Married all Wondering why we struggle with education and work, we are enriched beyond our most barbaric dreams.

In fact, if we all knew, most of us would have suffered losses, licked chops and wondered what went wrong.

Do you remember the housing bubble before the Great Depression? I remember a Dublin taxi driver talking about a Bulgarian villa. Well, it didn’t work that well until things got better. Finally. I’m not saying the two are equal, but looking back at the lottery jackpot and saying that it’s a dangerous game to wonder how life would be different if you knew only these five numbers on Powerball. I am. That’s deceptive, isn’t it? 5 numbers. After the fact, it all seems very easy.

If you can afford to lose everything you have, invest everything you have. Invest only in what you can live without.There is no cryptographic guarantee Or Equity markets show that the latter bring long-term profits, except for them Roughness on the road In the middle. The Bank of England Governor Andrew Bailey said Thursday: Investing in crypto: “I’ll say this again very frankly. Buy only if you’re ready to lose all your money.”

“”
“It’s a dangerous game to look back at the lottery jackpot and wonder how life would be different if you knew only these five numbers on Powerball.”


— Money list

Aside from these warnings, I have some general suggestions. They aren’t that exciting, so take a shot of caffeine. Still, they endure repetition.

Diversify your investment. But most importantly, stay true to your own risk tolerance and your own values. Look for high quality dividend growth stocks. Put some of the reserve cash into the stock market. You’ll get your hands on cryptocurrencies as needed, but you’re still at your own risk. The same applies to the stock market. There is no guarantee of a lot of money.

About Cryptography: While it’s all the rage today, more traditional commodities like gold are facing a more difficult time. Cryptography behaves like a commodity and is also a currency, even if it doesn’t behave like one, in the loosest sense that it can be used to buy things. It also occupies the wild west of regulation. It is so volatile that it is not a good place to store cash. As I’ve seen musk promoting Dogecoin, it’s also influenced by the whims of celebrities.

As you suggest, the most valuable product we all have right now is time. And you are using you to evaluate your life and take care of your sick father. You will never get that time back with him. You decide to go back to college and invest in yourself by promoting your education. It’s something no one can rob you of. Stock market recovery and cryptocurrency bounces can’t change that.

Bow, my friend. You have made the best investment of all.

Moneyist: My employer paid me in cryptocurrency. The value has increased by 700%.Now he wants to return the code to the employee and accept the dollar

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I have a crypto FOMO! “I’m too old to sit down and I hope I can make up for the lost time by investing a little money safely.”

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