EP179 Milli Moves: Bitcoin – Investing or Gambling?

Young Money with Tracey Bissett

Are you betting on Bitcoin? Things are uncertain right now, and 2021 will stay this way for a while, but it’s still imperative that we focus on our financial health. In this episode, I’m discussing whether Bitcoin is an investment you may want to consider—or whether it’s a gamble you’ll want to avoid.

Listen in as I share the basics of investing, speculating, and gambling, and where Bitcoin fits into this equation. I’ll also be sharing the three factors that determine whether you’re investing or speculating, and the three questions you should be asking yourself before making any kind of investment.

“Risk and return go hand in hand in investing.” - Tracey Bissett

This Week on Young Money:

• The basics of investing.
• What the riskiest investments typically are.
• The difference between investing, speculating, and gambling.
• What Bitcoin is.
• Three factors that determine investing vs. speculating.
• The three questions to ask yourself before making any kind of investment.

Key takeaways:

1. Focus on your goals.
2. Risk and return go hand in hand - don’t bet more than you’re willing to lose.
3. Make use of a professional, like a financial planner, to help guide you in the investing process.

Resources Mentioned:

• EP017 Super Bowl’s Musical Talent – Justin Timberlake & Lady Gaga
• EP033 Investing Basics
• EP038 Investor Spotlight Part 1
• EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
• EP040 Investor Spotlight Part 2
• EP067 5 Financial Lessons Learned from Maroon 5
• EP123 3 Financial Fitness Lessons from Jennifer Lopez and Shakira

Young Money Listener Contest!

February is a month-long celebration of love. So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.

For every review left for the Young Money podcast, you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so review away!

Contest closes February 28th!

Not sure how to leave a review, check out the instructions here.

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