Financial advisors warn against risking your retirement by going all in on crypto — but some older investors feel they have no other choice.
The time-honoured advice for older people approaching retirement is to reduce your exposure to risky assets to preserve your nest egg.
But what if your nest egg has already been destroyed and you need a high-risk/high-return method to make it all back in the space of a few years so you can retire comfortably?
Its not a strategy for the faint-hearted and it could easily go horribly wrong in the event of a sudden crash to a prolonged bear market but some crypto investors see it as their last, best hope.
I think your risk appetite would have to be pretty extreme to have all your eggs in any one basket, especially if thats a volatile asset like crypto, says payments consultant and former banker Rod Tasker.
