Getting To Your Retirement Exit

Ep 27- Six Questions around Cryptocurrency and Your Retirement

April 25, 2021 Jenny Jones Season 3 Episode 27
Getting To Your Retirement Exit
Ep 27- Six Questions around Cryptocurrency and Your Retirement
Getting To Your Retirement Exit
Ep 27- Six Questions around Cryptocurrency and Your Retirement
Apr 25, 2021 Season 3 Episode 27
Jenny Jones

There are two camps when it comes to investing in Cryptocurrency, but do they help your retirement portfolio? We find out with these 6 reasons.

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Show Notes Transcript

There are two camps when it comes to investing in Cryptocurrency, but do they help your retirement portfolio? We find out with these 6 reasons.

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Hello and welcome to the Getting to Your Retirement Exit podcast by Jenny Jones, I am your host, Jenny Jones. And what I want to talk to you about today in Episode 27 is six reasons why cryptocurrency should not be part of your retirement plan.

Now, in Episode twenty-seven, I want to share some things with you and or some disclaimers, first of all, before people start writing in to the show or sending me emails or blasting me all over social media.

This particular episode is really strictly geared towards retirement pre retirees or people planning to go into retirement. This has nothing to do. I'm not bashing cryptocurrency. I'm only trying to educate the particular listeners of this show who are on their journey and their path to their retirement exit. Now, I wanted to get that out of the way because I don't again, I don't want everyone going all over saying, oh, he doesn't know what he's talking about or whatever.

I'm just going to lay out six reasons why. If you're on your journey and on your way to retirement and or you're a middle class worker or working class, not millionaires. Right. My audience is not millionaires. I don't try to cater to them. My audience is the everyday working professional who may maybe in middle class or top middle class or maybe even the beginning stages of moving into upper class. And so that's really my target audience and that's who I prefer to cater to.

Now, there's other podcasts and other streams out there that may beg to differ on some of the arguments that I may lay out. Then there may be some that may not even have an argument for what I'm about to lay out here.

But so here we go. So you need to understand, first of all, what I've figured out is I'll say this initially and you can draw your own conclusion.

But there really there really appears to be two camps when it comes to cryptocurrency. Right. And when I say there's two camps, there's one camp that says, hey, I invested in it and I've been in it for a long time, maybe since the early, you know, 2012, 2010. I think it came out around 2009 or so. They believe the technology that's behind it. I mean, I'm not even going to argue with the technology that's behind it, the block chain, things of that nature.

I think it's a very good technology to have zero issues with that. And so there may be some early investors who have gotten into it early on. Maybe on paper, the value of what it has grown to on paper is astronomical. I'm not going to argue that I even know some people who have the value that they have because they've been in it for so long. They've just wrote wrote it up and down. And I'm not arguing what they're saying.

So those are that's one side of the camp. They've been in it so long, they see the value. You can't tell them. You can't argue with them, that they're not worth a half a million, a quarter of a million on paper. You can't argue with them. There's no arguing. There's no reasoning with them. So that's one side of the camp there. There's another side of the camp that says, hey, I want to get in, but I don't understand it.

So I'm just going to steer clear of it.

So they just really literally two sides of the camp and I'm on that side of the camp. I it never interested me. I never wanted to invest in anything that I really, truly didn't understand. The second argument is that is I have to invest in tangible right. Having a background in accounting and finance and understanding the economics of supply and demand, understanding how to read financial statements. I am never interested me because I never knew what I was really owning.

Right. And I'm not a currency investor. Right. And I'm going to lay out some ideas on that, too, as part of my six steps. There are some fundamental underlying differences when it comes to currency.

You know, currency trading, whether you're trading different currencies or cryptocurrency, is totally different than investing your normal currencies that you would create trade now. So there's really two sides of counters. People is, hey, I believe in it. It's it's I'm going to ride this into the wheels, fall off. I have zero problems with those people. But then there's other people says, hey, you know what? I just don't understand it. There's a lot of questions that no one can give me answers to.

Right. And then there's other people says, don't worry about the questions, just invest in it. So again. Again, the. There's two sides of two camps, but I want to be able to to try to separate some myth when it comes to retirement, because that is my area of expertize and those of the people that I am concerned with, people are trying to get to their retirement exit.

All right. So let me give you the first let me give you the first reason. Right. So the first reason and again, we're talking about retirement. So if you're if you're in, you know, investor, you invest, you got two, four or five, six million into this into cryptocurrency. This is not for you. So you can turn us off or someone else.

Right. So the first reason or the first. Yeah, the first reason that you're not is there's no regulation. Right. It's still in its infancy. It's taken them almost 20 years just to kind of figure out, you know.

You know, it's something new, you know, it took them a while to the government, a while to try to figure out how to, you know, tax the Internet.

Right. You know, and and so when government catches on, when they eventually catch on, if you haven't already been in it, then you know you've already missed your opportunity. Right. So by the time the government catches on or by the time they catch up with it, then the money it would have would have already been made. So let me give you an example. So because there is no regulation, that to me is fertile ground for.

A lot of people who are uneducated when it comes to risk or who does not have the sophistication in playing in this space to be involved.

So if there's no regulation, basically, if the if the guy that's coming to cut your lawn. Right. And there's nothing against people cut lawns. Right. That's what's so difficult about being on podcast's. You're trying to not to offend anyone. Right. So the person who comes, your gardener is coming and cutting your lawn. It's what he does or he or she does if they're telling you they're in cryptocurrency and you're like, OK, if my gardener is in it, then should I be in it?


And you ask your gardener or your you know, or your hairstylist or the person who pumps your gas. Right. Some some places they still have people pump their gas. So anyway, there's nothing against that. That's that was my first job. Right. So I don't have anything to do with that. Listen to one of my podcasts. When I talk about when I used to pump gas, I think it was episode 23 or 24 and how I got how someone came and says, hey, I have a deal for you.

I was actually working on the gas tanks at that time. But anyway, I digress.

So listen, if normal everyday people write the janitor or whoever the the person, the street sweeper or the dog walker or anything, any of those people just would normal everyday jobs telling you they're there in cryptocurrency.

To me, that says there's a lot of inexperienced and non sophisticated investors in cryptocurrency. And the reason why they're in it is because there is no regulation.

Right. So when you look at the normal markets and you look at, you know, the stock market, things like that, there are some regulations that happen that, you know, you have to be a sophisticated investor to invest so much or someone to be telling you to get into speculative investments, which this is very speculative, speculative.

I mean, A, I could hit a home run or I can lose I can lose everything. I could lose my my shirt. Right.

So this is a speculative investment. There are rules in our current industry right now when it comes to the stock market about around speculative investing. Right. There is so much documentation around speculative investing. Right. You can't just hop on normal. Everyday person can't just jump out there and start investing in in an investment such as this bit. But because there is no regulation, you do have normal investors. You do. I mean, you do have inexperienced investors investing in cryptocurrency.

So to me, that's one that's one problem for me. Right. Because if you have uneducated, unsophisticated investors, everyday people investing in cryptocurrency, they don't it's almost like they don't have a respect for the market. Right. Or the movement of the market. That's why cryptocurrency is so volatile. Right. You can wake up tomorrow and it's down to a hundred billion dollars, which was the case just the other day. You woke up, one you went to, you went to bed and you was up a million dollars.

You know, you woke up the next day and you're down a million dollars. Right. That could actually happen in cryptocurrency at this current state. So as you're listening to this podcast, I don't know, maybe a couple of years from now you may be listening to this.

But from this day, from what I'm putting out episode twenty seven, this day, there is no regulation and it is too volatile of a playground for normal people to be trying to put their retirement savings or trying to hit a home run at the last stages of retirement into this particular vehicle now. So that's one doesn't have a lot of regulation. Right. So let me let me give you an example.

Let me give you probably the best example for the no regulation in the regular stock markets. They have what they call these alarms or they have the name escapes me right now.

But in the markets, you would not have a two hundred billion dollar loss. Right? They put these they put the stop loss.

They put I can't remember the term right now. It'll probably come to me later, but they put these protections in built in place so that the market can't drop in value. Two hundred billion dollars in a matter of minutes. Right. They don't the market is it has its built in protection that protects it is to say, hey, let's cool the markets, let's shut the markets down, let's cool. Right, let's not overreact. Let's give people an opportunity to digest the news that just dropped.

Right. The news it just came out.

And the reason why it dropped two hundred billion dollars is like overnight, like within a matter of, you know, a couple hours is because our current our current president came out and says, hey, I am going to tax long term capital gains, I'm going to increase the the the taxable for long term capital gains.


And so when he did that, that means that everyone who has been in the cryptocurrency for any time longer than a year, they are going to be subject to long term capital gains. And what that means is there's a lot of people on paper that's probably up a million dollars. Right, or two million or three million in cryptocurrency. But if they're going to to change the tax structure to tax obligation against cryptocurrency for all those people has been holding this since 2014, 2010.

Right. Have been holding it. And and now probably up a couple of million dollars. Those are people saying, hey, I need to scrawny to get out so I don't get taxed.

So the tax does not hurt me as much as it would if I got out now. So if I can get out today at thirty five percent, I don't want to get taxed later. Once this becomes regulation, I don't want to get taxed at forty five percent or fifty five percent, you know, or 10 or 10 or 15 percent swing in taxes.

So that would erode into some are their, their, their growth. Right. And so that made sense. So that's the reason why we woke up. He saw two hundred billion dollar, two hundred billion dollar drop in the market. Now with that being said, that moves me to IRS. Notice 2014 dash twelve on the taxation of cryptocurrency. Now, I don't know if this has been in chat rooms or going around on Twitter or I or Instagram or something like that.

But there's this there's this notion that cryptocurrency is not taxable and that is not true. If you look up IRS notice 2014 tax 12 cryptocurrency is taxed like any other currency. You're taxed on your cost basis to your gain. So if I put in a thousand dollars and it goes to two thousand dollars, I'm going to be taxed on that thousand dollar game. Right. And so you are taxed like any other any other currency and that aspect.

So when the regulation came out, I mean, when the when the proposal and this is just a proposal, it's not anything that is in stone yet.

But this is a proposal, I think, that is put on by the current administration that there will be an increase, there's a possible increase in long term capital gains. And why is that now?

If you've been listening to me any time or or have known me for at least more than an episode, you will know that I always talk about trying to protect your your retirement assets by any cost, by any means necessary.

If you need to listen to the case, the case of a Roth IRA over a traditional IRA, I don't I forget what episode that is at the top of my my my head. I can't remember what episode that is.

But I tell you that because we have all of this stimulus package and all this all this money we're creating and we're creating where our deficit is increasing, you know, and I keep telling people the deficit will need to be paid for and that costs will need to be recovered. Right.

And so one of the reasons, one of the ways that the current administration is going to deal with it, they always start looking for these different ways, hey, how can we tax how can we create taxes to recover this cost in?

One of the ways that he is thinking about is increasing long term capital gains. Now it's increasing long term capital gains for the wealthy. I want to say, and I don't have all the information, I haven't read into all the proposal yet, but from what I understand is you have to be it's for those who make a million dollars or more on an annual basis.

So it's for millionaires right now. And one thing I know about millionaires, right. Working with them. I'm by no means a millionaire, right, I that's not really my goal and purpose. If I get there, if I'm almost there, if I'm there, that's not what I live to do. I live to educate and empower people who do not know. And I try to break down things in small, palatable bite size pieces.

But one of the things you need to be concerned with, if you were in there or if you are banking everything on cryptocurrency is only millionaires and billionaires could move that type of market. Right. That's a large that the amount of cost to just get into cryptocurrency today is several thousand dollars to own one coin. Why?

And so the only people that can move a market two hundred billion dollars in a matter of minutes in a matter of hours are millionaires because they they control they have a lot of the wealth in the cryptocurrency.

If the cryptocurrency move two hundred billion dollars, you know, it was moved by millionaires, which takes me to.

So we are talking about two points already. We talked about no regulation. We also talk about the IRS notice which people were unaware of and people are starting to become more familiar with. Right. That's a reason. Right. Another reason is.

Pump and dump, right, and that's that's a term that's that was used and still is used as part of my exam, studying for my securities license some time ago was is when people artificially inflate a stock or share to get others involved in it.

And then once it gets to a certain amount, they start dumping out. Right. So if I'm in at twenty dollars, I don't know. And then it falls to 10. Right. If I get enough people to get the share and get enough interest to it to drop, I mean to go back up to twenty one, maybe twenty five dollars when I originally got in at 20. Now it's down 1/2 to 10.

And I, and I told everybody else, hey, buy it by it, start getting these chat rooms, start pushing it up and it gets to twenty five dollars or twenty three dollars.

I then start dumping it the amount of shares that I had because I own it at twenty.

So once I got it back above 20 or at least where I broke even then I dumped it. Right.

So that's, that's the whole, that's the whole premise behind the pump and dump.

This particular currency has the ability to do that. Right. It has the ability to people get it to a certain amount and then they they dump or they jump out of it. So it's called pump and dump. Artificially inflated people go around telling you what they own and what they have.

That's that's three. So that's no regulation. Two, that's IRS notice. Right. A lot of people didn't know. But there you do. You are taxed on cryptocurrency. Right. And then a pump and dump. Right. So the pump and dump practice of going into these different chat rooms and these different back back rooms and and telling everybody to buy it and all that other stuff.

And let me give you four. Right. And then the other the other two I'll kind of talk about a little bit later. But I wanted to kind of give you these and I'll probably just a recap on all of them before I close out this podcast. But there are a lot of wealthy people, and I'll call them wealthy influencers that we may follow.

Now, you have Twitter, right? You have Twitter, you have Redditt. You have all these other areas. You have what's the new one? They have clubhouse you have where you can actually talk to wealthy people, people you would never in a million years have an opportunity to even have a conversation with, to even listen to.

I think clubhouse allows you the app clubhouse allows you to opportunity to listen in to a millionaire and telling you some of the moves that he or she is making.

If they tell you if I follow a millionaire and they tell you, hey, I'm buying, you know, Bitcoin, I'm buying either if I'm buying any one of those, you're going to try to do what you got to do to buy the same thing that the millionaires are buying.


So I call them wealthy influencers. So it has a wealthy influence effect to it. So that would be to see no regulation. IRS notices pump and dump. That would be four. Right. You have wealthy influence or so of a wealthy influencer. Again, a wealthy influencer is not regulated by the Securities and Exchange Commission. Right. They're not advisers. They're not financially. They don't they're not subject to regulations when it comes to the the Securities Administration is nineteen forty securities acts.

They're not associated with that. They're just a wealthy person who made all their money. Right.

So if they but because you don't know that and you just like following this person, then you may say if that person gets on clubhouse and you have access to them and they say, well yeah, I'm buying this, you're going to go and try to buy that. Well, they're buying it. They probably buy two million shares of it. Right. And you probably can only afford two hundred dollars worth or maybe two thousand dollars worth or maybe five thousand dollars worth.

Well, they're buying two million dollars. You're buying five million dollars worth. Right. Which is a drop in the bucket. Not really that much money to their portfolio. It is a probably four person. It's gotten that rich. They've probably taken a lot of risk in their life. Some have paid off. Probably a majority of it has paid off in their in their careers and their lives.

But they know if they take a spec because they have a certain amount of money that they can deem to be speculative. Right. And here's a whole thing. With cryptocurrency, if it hits, a lot of people are going to win, right? If it really becomes an actual currency, I think you start to see a lot of entrants. You're starting to see a lot of credit card companies and a lot of, you know, PayPal. You start to see a lot of companies get behind it.

Because they're thriving, they're clamoring for a new type of currency that can be exchanged, and that's going to lead me to my my fifth point, right.

If they're trying to do all of that and you've got a lot of big money, and that leaves me as an investor in cryptocurrency, that gives me hope that I'm just not in this for nothing. Right. If you here's a question. If you ask a cryptocurrency investor. Why are you in it? Tell me why you're going to get a million as three different ones. Right. And this is for your own research as three different ones ask for five.

You're going to get five different answers. No one's going to tell you. Right? They're not going to be able to tell you the reason why they're and they're not even going to tell you really what they're invested in.

You can say, hey, what are you invested in? What I mean, what's the what's the tangible asset on the other side? Right, and that that moves to. My most important point, probably out of the out of the six points, my most important point is there's no correlation to inflation.

Right, and that's the fifth point, there's no correlation to inflation, whereas normal currencies, right, that people that do trade currencies, there's a correlation to inflation.

Right. And inflation, again, as I explain to you what inflation really is, it's a it's the erosion of the dollar. If I go in a store and buy a loaf of bread and it's a dollar, I go in next year, that same loaf of bread is a dollar for or it's the same loaf of bread just with less slices or it's the slices are thinner. Right. The funny part about that is I was in the store the other day.

My wife left me to my own vices, so I had to go buy a loaf of bread. And I noticed when I got home that the slices of bread were smaller, they were thinner. And I always bought this type of bread. I suspend of bread is thinner now. Right. That's inflation, right? It's when you used to get buy, you know, you can go in a store and a dollar. Ademir as kids we were going to store and one dollar we would come out with two or three snicker bars and, you know, all other kind of candy, you know, pop rocks, red hots, whatever.

You can buy all of that for a dollar. Now, one candy bar is almost two dollars, so that's inflation.

So because cryptocurrency does not have a direct correlation with inflation, the number one reason why it should not be counted on for retirement is it has no correlation to inflation.

You can't give it a dollar for dollar value.

You can have a fictitious value of what you may believe it is like. It's almost like they would do like gold. Right?

But there's a demand for gold, right?

There's a demand for those those types of investments. And so you could say the same goes for gold. But gold has a tangible asset on the other side. It you know, it comes into something, you know, gold.

People use gold for different things, you know, but there's nothing on the other end of cryptocurrency. That's what people don't understand. There's nothing on the other end. So what can what get where's a direct correlation with something that's not directly correlated to inflation? Right. That's very volatile. Meaning you can wake up tomorrow at two hundred. You're down two hundred billion dollars in the entire market. It has no regulation and it's it's influenced by wealthy influences.

Right. Who who ordinary average people have a tendency to gravitate to.

Right. If I'm a normal every average everyday person, I'm an Uber driver or I'm Tom on full time overdrive. I'm not talking about people to drive on the side. Right. I'm telling people they're just trying to really make ends meet. Right? They do.

You know they do. You know, they're hairdressers are people.

Are these just small business people just trying to make ends meet, if they follow, are influenced by these wealthy investors. They say, hey, if that person is doing it, I'm going to put my last money, my last dollar, and I'm going to get into it. That is a recipe for disaster. There are going to be a lot of disappointed people. There will be just like there was when it came to the GameStop, just like there was when people do that right.

There are going to be winners, but there's going to be a lot more losers. Right.

This is one of those games. There are there will be winners and cryptocurrency. I'm not going to sit here and tell you there will not be, but there will be a lot more losers and crypto coin currency.

They're just there will be because if you're not a millionaire, then the long term capital gains does not affect you because you're not a millionaire, because you may end up being a millionaire on paper with cryptocurrency. So it actually could affect you. Right. But if you're not a millionaire today, you're not going to be able to you would you say, well, I see no reason in getting out because you're not a millionaire. I don't have to be concerned with that because I'm not a millionaire.

But the millionaires aren't. They're affected by it.

So they're going to get out if they get out because they're the only ones that can really move the market, then they're going to affect the actual the the pricing of it and it's going to drop it.

So again. This is for the inexperienced investor, this is for the person, it's just not that doesn't really know a cryptocurrency is right. And it's almost I liken it to. Two to two of the most difficult times that I've seen by being in a wall and stocks, stocks and investments, and that was the dotcom bubble right back in 2000, 2001, when everything just turned upside down. And the housing market and it's because both of those were speculative.

Though both of those were speculative, this is not like, oh, I'm going to invest in the net next, then the next net, next Netflix. Right. So Netflix was tangible, right. And if you came to me back then and said, hey, do you want to put ten thousand dollars into Netflix? I was like, I don't know. This company, there's no way they can take down Blockbuster. So I'm not going to put ten thousand not my last ten thousand dollars into a company I don't know about that's delivering videos.

And they were delivering them then they weren't even doing the digital like they're doing now.

They were delivering them back then. I was like, no way I'm out. Well, had I put ten thousand dollars in a company like that, I would have almost a billion dollars from ten thousand. I would have almost a billion right now today in value if I put ten thousand dollars in Netflix. That's something tangible. That's something that that's the era. And that was the cusp where we were going at that particular time. But it was very evident of the changing of the times.

We may be moving into digital currency. We may be moving into digital currency, not we may be, but we are moving into digital currency. This may be cryptocurrency may take over as a currency. But it can't take over as a currency if it has no correlation to inflation. If it has no regulation, because if it has no regulation, that's like me going out, the best example I can give you is I when I was a kid, we used to play dodgeball.

Right. And there was another there's another little kid who's was the best at dodgeball. No one could ever get him out. His name was Dexter. I'll never forget him. Little redheaded kid. He was the best when it came to dodgeball. And that's like me now going now playing against Dexter or playing against a former me. Now I'm going on a playground and I'm playing and I'm bombing everyone getting everyone out. Why? Because I am a wealthy influencer.

I'm a wealthy investor on a playground with no regulation. There's no teachers around, no referees. I'm just hitting people in the head. I'm bombing them. I'm just getting. Get out of here. Get out of here. Right. Because I have so much influence in a playground with no regulation I can pump and dump. It has no correlation to inflation. A lot of people can get hurt.

That's where my lax my six point is the small investor syndrome. You are a small investor. If you have less than a million dollars in a cryptocurrency, you have less than a half a million. I'm not talking about what's the value of it now? I'm talking about what you have in it, what you what your cost basis is.

You can't move that market. You can't influence that market.

So you have the small investor syndrome. Most people that I know. Right. I've run into. Right. And people keep asking me, people keep sending me these DMS. Hey, should I get into that or whatever is how much plan to put it on and put five hundred in it and we'll put a thousand in it.

You're a small investor. You should be concerned because you can't even. I will go a step further. This this podcast is not about this, but I will even throw in Robin Hood or some of these other free trading platforms.

I have to tell you, just being in a history of being involved with the markets for twenty plus years. Any time my hairdresser, my plumber or my Uber driver or people just normal, everyday working class people are talking to you about stocks. I don't have a problem with that when I have a problem with is there false sense of hope thinking that they could turn the world upside down, buying two shares of AT&T. Right. Is just not going to happen.

Right. And I think people need to get a they need to get regulated on what it is that that they're doing now. With all that being said. So let me go back over. So we talk about no regulation.

We talk about the IRS notice. That's to talk about three pump and dump. We talked about wealthy influencers. That's for we talk about five, no correlation to inflation. And we talked about six, which is the small investor syndrome. You will always get taken out as a small player in a speculative investing environment. Any time they're speculative investing, whether it's the the the game stop or some of those other ones that people got taken out, there are people that are lost.

They're not going to tell you who they are there to embarrass. But there are people that lost and will never be able to recover that money. Right, and so that's those are the people that concern me, those are the people that keep me up at night. Now, if you want to add a little speculation to your portfolio, right. Is I still want to be there if it happens, whatever by it in some type of mutual fund.

Right. Don't buy it next meeting. Don't try to just jump out there in it. Now, there are some I want to say fidelity, and I haven't really looked into it too much, but I think Fidelity is is kind of moving a lot of chips in on playing in that space.

I don't I'm not recommending any purchase of any mutual fund, no ticker symbol, no nothing. That's not what I'm doing with this podcast. What I'm telling you is there are some companies or some fun families that are that are trying to move into that space, but they are moving into it with floating on. Right with with with with a little protection built around it.

I only reason only reason why I bring a fidelity is because I think Fidelity is part of a larger group that is trying to bring some type of stability to the actual overall that's trying to bring some type of stability to the overall space. Right. And I think and I don't know, right off the top of my head, if they actually do have a fund or if anyone else has a fund. But from what I'm understanding, I think there are some types of funds that are that are indirectly investing in the cryptocurrency space.

If you as a retiree want to get into that space, I would look at it. Is doing that with some type of protection built around it. I would not just jump into there, open my own account and do all that other stuff. I just would write and so on.

The only reason why I was giving you that is because I want you to be protected when you go in and you say, hey, you still want a part of that, it should not make up no more than two or three percent of your overall portfolio because it's like, hey, I tried, right? I hopped into it. I wanted to taste it, see what it was like. You know, I end up hitting the lotto, right?

I got in it and it went up tenfold. You did good. But it's speculative. Any other speculative investment? That's the same thing. It's like buying penny stock, buying penny stock, buying stock that costs three pennies and he goes up to twenty five cents or goes up to a dollar. You've hit the lotto, right? It's penny stock investing. It's speculative investing. So that's what it is. I don't like a speculative investing for my clients as they they need to be moving into asset preservation as they're the window shortens.

I want to protect what I've made so far. So I'm going to move off of the speculative tip. Right. If I am still in asset accumulation. Yeah. And I'm still younger. And if I if I blow it, if I blow ten thousand, if I blow twenty thousand, I can, I can still work and put that back. If you are in your last window, which I call your last, the five minute the five five years to a retirement window, I would stay away from it.

That's just me. Right. That's what I would recommend for my clients. Right. You seek out your own investment advice from your own advisor on this, if you were. But those are my disclaimers. Right. But I'm telling you what I would do and what I'm telling my clients, especially if they're in a five year window. That's what I would say do. So again, this has been Janie Jones. Hopefully this was helpful, right?

I didn't get into a whole lot of the details of it. I just gave you some of the red flags, some of the things that stick out when I look at it. Right. And I'll tell you another thing. Let me if Warren Buffett is not in it, if he thinks it's a circus, that to me, I subscribe to a lot of his his methodology because we both believe in dividends.

We both believe in value stocks. Right. And things that are tangible and things that people need. Right. People need. So deodorant. Right. And there's certain things that people need. Right. And I subscribe to a lot of Warren Buffett's theories. If Warren Buffett is saying if Warren Buffett is telling you, hey. It's a circus, it's too volatile. If he's saying that, look up what he said, I think there's he has about 10 quotes on record of the things that he said about it.

If that's what he's saying, you know, then you got to you got to there's some merit to it. Right. And so, again, just wanted to share that with you.

Again, the six the six concerns that I have, I'm going to give them to you one more time is there's no regulation, the IRS notification being tax. Right. People think there's not tax. There's some reason people say there's no taxation. There is. Right. The pump and dump. Right. The wealthy influencers, no correlation with inflation and the small investor syndrome. This has been Jenny Jones trying to help you get to your retirement exit by any means necessary.

I want you to be educated. I want you to be empowered. This episode 27, if you want to get more, you want to get a breakdown and some of how these things are going. If you want to see some of the things we have, what successful retirement looks like, we do have a series that's going to be starting soon on TV. My retirement exit dot net, that's TV dot, my retirement exit dot net. That is my my retirement exit.

TV is coming. We're already there, but we have some more. We have a new series has come and where we're going to be interviewing actual people who are in retirement now. They're going to be sharing with you some of the mistakes they made. They're going to be sharing with you some of the good decisions that they made on their journey and on their way to their retirement exit. That's going to be a very good series. Right now. We have a discount to get in.

I'm giving as founder of my retirement exit TV, 75 percent off of for lifetime to get into it.

So it is an app. You're going to be able to find it. You're going to be able to find it in a rucho box. You're going to be able to find it on Apple TV. You're going to be able to find it in an iTunes. You're going to be to find it on it on iOS. You're going to be able to find it in your Google Play so that it's already there. You can find the app. They're going to actually be able to find it on Amazon as well.

So Amazon has apps you're going to be to find there as well on fire stick. So it is my retirement exit TV, it's TV, my retirement exit dot net and we have seventy five percent off. I think you can get it now for I think fifty bucks a year. I mean, so I have a certain amount of coupons that I made available. But when we start interviewing and start talking to people who have retired, our first season is already booked.

Right. We're already we're trying to finish some of the last minute taping. Now, it is going to be powerful. You're going to learn from people when they first started investing, where they made mistakes and where they went wrong.

If they had it to do all over again, what would they do? That's coming? My retirement. It's a TV. Where do you have some classes up there now. But if you want to get more, if you want to get down, you want to see with your own eyes instead of just listening to it on a podcast, I would become a subscriber now and get in while you can. So again, this has been Jenny Jones episode twenty seven.

Right? Hopefully guys are doing well. Take care. Be safe.

Good bye for now.