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#97. Blockchain is here to stay, but how much crypto is too much?
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How much money should you put in Robinhood and crypto?
In this episode, Aaron and Trishul discuss how much money you should invest in crypto. Similar to investing in single stocks, there are some rules of thumb to consider. Do you already save enough for retirement? Is your emergency fund adequate? Does your lifestyle depend on this money? If you're well covered, then the added risk of that Bitcoin position might be worth it to you. Even so, Trishul introduces a great analogy to the dot-com bubble in the '90s. How do you know if you are buying Amazon or Pets.com? So don't forget the big picture here, as there's always an opportunity cost to consider when making any investment decision.
Episode References
MMS #2: Buying stocks can be fun, but don't fall into these common traps. A quick intro to investing outside of your IRA.
MMS #60: What's the best way to beat Bitcoin Madness?
Regulators RAcing Towards Rules on Cryptocurrency
MiamiCoin
DotCom Pets.com
Bitcoin ETF coming, but there's a catch
CoinMarketCap
Global GDP
ICO: Initial Coin Offering
Optimism Bias
Podcast Description
Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.
Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Bay Area Financial Planner with GraystoneAdvisor.com, and Trishul is an East Coast Wealth Manager (InvestingForever.com). MindMoneySpectrum.com and YouTube.
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