January 17, 2022
Could You Retire on Bitcoin Alone? | Personal Finance | mooresvilletribune.com – Mooresville Tribune

Could You Retire on Bitcoin Alone? | Personal Finance | mooresvilletribune.com – Mooresville Tribune

If you’re going to buy Bitcoin with the goal of keeping it until your senior years, make sure it only comprises a small portion of your total portfolio and spread out your investments across other asset classes, as well. A good bet, in fact, is to have your portfolio consist of a nice investment mix that includes:

  • Bonds
  • Stocks
  • Real estate (if you don’t want to own actual properties, you can put money into REITs, or real estate investment trusts)
  • Crypto

This setup protects you in case one specific asset class loses value on a whole. It also exposes you to different levels of risk. Bonds, for example, are typically far less volatile than stocks, so it’s good to own more of them as retirement nears.

Take it slow

There’s nothing wrong with buying Bitcoin, holding it for a while, and seeing how things go. But should you count on Bitcoin alone to finance your retirement? Absolutely not.

We don’t know what the future holds for Bitcoin, and banking on any single investment could be a recipe for disaster. This especially applies to an investment that’s only been around for a little over a decade with a notably uncertain future.

Source: https://mooresvilletribune.com/business/investment/personal-finance/could-you-retire-on-bitcoin-alone/article_f1f8d0fb-16f0-5397-afd2-cdd03b54ba5c.html

Leave a Reply

Your email address will not be published. Required fields are marked *