Are Cryptocurrencies Right for Your Retirement Portfolio

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Consider the volatility of Cryptocurrencies before you include them in your retirement portfolio.  The classic strategy is to reduce risk when you get closer to retirement.  Adding cryptocurrencies goes in the opposite direction. 

Warren Buffett is against cryptocurrencies as he says, they offer no value.  Nothing is created with cryptocurrencies.  No products are bought or sold.  The only way you make money is for someone to pay more than you did.  This is reminiscent of the pyramid schemes of the 1970s.

If you must play with cryptocurrencies, do it on paper.  Pretend to buy and watch how it goes.  If you buy it in your retirement portfolio, will it be there when you retire?  If these flash in the pan schemes to displace national currencies do not work, who loses? 

Please read more about this at our website RetireCoast.com    Please visit our blog articles on similar subjects.  Listen to our other podcasts as well.