Crypto Currency and retirement
Could you speak about President Trump promoting the crypto market despite legislators who have long pushed for crypto regulation? I recently retired, my husband is still working and I worry about banks/investment houses investing in risky crypto stocks and losing all of my retirement accounts. We are now weighted 60/40 in favor of bonds. What else do you recommend? At this point, I’d rather focus on conserving wealth than take advantage of any wild gains that might happen (initially) in crypto. Thank you.
Terry Says
First of all, banks are not speculating in Crypto. And your deposit accounts in banks are FDIC insured. And if you have extra money, consider purchasing TreasuryBills — IOUS direct from the government. There is nothing safer at this point.
REad this: https://www.terrysavage.com/t-bills-beat-cds-2/
This would also be a good time to meet with a FEE-ONLY FIDUCIARY financial advisor — one who is not trying to sell you something. Fine one you can trust by reading this:
https://www.terrysavage.com/pam-krueger-wealthramp/
You can lose just as much money in bonds as you can in stocks — if interest rates rise. So a 60/40 bond/stock portfolio certainly doesn’t eliminate market risk. You need a complete review of your planning income and spending in retirement to make sure you don’t run out of money before you run out of time!