If you’re on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
Credit Cards
Banks
Brokers
Crypto
Mortgages
Insurances
Loans
Small Business
Knowledge
by Maurie Backman | Published on Jan. 7, 2023
Image source: Getty Images
It could be a move you sorely regret.
Check out our picks for best crypto apps (Bonuses, $0 commissions, and more)
Although it’s been a rocky year for cryptocurrency, many investors are still eager to put money into digital coins or hold onto the digital currency they bought last year. If you’re interested in buying cryptocurrency, it’s okay to do so as long as you understand the risks involved and tread lightly. That means not putting 80% of your money into crypto, but rather, starting small and seeing how that goes.
But if you ask Suze Orman, she’ll tell you that investing in cryptocurrency for retirement is a really bad move. And it’s advice worth heeding.
You’ll often hear that it’s smart to consistently fund an IRA for retirement so you have money to tap later in life. And you don’t want to just leave your retirement savings in cash. Rather, you should be investing that money so it can grow into a larger sum over time.

Discover: Best places to buy bitcoin
More: Check out our updated list of best crypto apps including one offer with a $100 crypto bonus
It’s also important to maintain a diverse mix of investments for retirement. That could help you enjoy gains and minimize losses during periods of volatility.
But if there’s one asset Suze Orman would caution retirement savers to stay away from, it’s cryptocurrency. The reason? It’s highly speculative.
Crypto has proven itself to be very volatile, but then again, so have stocks. But whereas stocks have been around for a long time, cryptocurrency has only been around for a little more than a decade. And it’s questionable as to whether it will still be an asset of value in a decade from now.

We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. That’s how prevalent it’s become.
Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Learn more and get started today with a special new member discount.
It’s easier to determine the value of a given stock based on information on the company behind it — namely, by looking at that company’s assets, cash flow, products, and so forth. It’s harder to figure out what cryptocurrency is worth, and what it will be worth in the future.
One of the biggest question marks surrounding cryptocurrency is whether it will become a widely accepted form of payment. Some merchants already accept crypto payments today. But for the most part, you can’t just pay in crypto the same way you can hand over a wad of cash or swipe a debit or credit card.
That makes cryptocurrency pretty risky — more risky than stocks. If cryptocurrency doesn’t become a mainstream payment option at some point in the future, its value could plummet.
We also don’t know to what extent cryptocurrency will be regulated over time. That, too, adds to the risk of owning it.
As a general rule, it’s a good idea to load up your portfolio with quality investments you hold for a long time. But crypto may be the exception to the rule. It may be a better bet to think of cryptocurrency as a shorter-term asset, and stick to investments that are more tried and true for your retirement nest egg.
You’re going to need a sizable amount of savings to cover your living costs once your career ends. And you don’t want to put your future financial security at risk by banking too heavily on crypto.
Maurie Backman writes about current events affecting small businesses for The Ascent and The Motley Fool.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Featured Offer
100% Commission Free Crypto Trading – 4.5 Star Rating
Related Articles
Best Cryptocurrency Apps and Exchanges
Best Places to Buy Bitcoin
Cryptocurrency reviews: apps, exchanges, and brokers
Best NFT Wallets
Best Cryptocurrency Apps and Exchanges
Best Places to Buy Bitcoin
Cryptocurrency reviews: apps, exchanges, and brokers
Best NFT Wallets
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 – 2023 The Ascent. All rights reserved.

source

How To Make Huge Profits In A Short Time With Crypto
Get detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.

Crypto + NFT Quick Start Course
The #1 course for profit in the Crypto & NFT world - You will discover the secrets that 99% of people don’t know yet