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The original was posted on /r/cryptocurrency by /u/mnameschef on 2024-01-19 02:20:22+00:00.
Buying a small amount of crypto to help build more wealth is only the tip of the iceberg on my mind right now. But for context, I only really started saving for a down payment a few months ago. Have about $7600 CDN in savings earning 4% interest on wealthsimple. I've been paying attention to the markets and they seem to be doing decent so I'm considering buying some crypto to help grow savings just a little more quickly. With the halving coming soon, I think, like most people, the crypto markers will start taking off again. I was thinking about only putting $600 in so not anything substantial. Maybe 50% bitcoin and 50% top 10 alt coins. What's your opinion?
I'm also still worried about the economy, I'm not really expecting too soft of a landing. Probably a recession or even depression? Who really knows? It seems like most people are thinking the fed is going to cut rates within the next 6 months just as fast as they raised them. But I'm leaning towards another outcome. Seems like what people are expecting to happen, it never happens. What do you think might happen?
I've seen articles talking about how another black swan event is probable within the next year or two and this makes me fearful of investing in stocks/etfs/mutual funds. I also understand that time>timing in the market but I don't have a long time horizon.
I work at a financial planning business but they really only talk about what's happening right now and don't have many negative outcomes on their minds. People don't really want to hear negatives, especially when it comes to their hard earned money. I've considered booking myself an appointment but they are more traditional investors, mostly balanced funds and growth funds. I'm interested in precious metals and crypto. Not sure what they would think if I brought up non-traditional investments. Even though you know, gold/silver is probably one of the most traditional. They just don't deal with it often.