RE: Why Bitcoin is Perfect for Most First-Time Investors
I think an important reason why the younger generation is excited about cryptocurrencies and Bitcoin in particular, is that their parents and/or grandparents potentially made so much money with their property investments, and now property is absolutely out of reach of many youngsters. The stock market requires so much research and constant attention, whereas a long term holder of cryptocurrencies can purchase any amount to get in, on their computer, and then set and forget for a while and hopefully make some money in the process.
Our parents and grandparents saved all their money to buy their first home, and they got really good at saving, they're still good at saving because it became routine. We, on the other hand, have so many things after our cash, and property seems impossible, so people end up spending.
A lot of western countries are feeling the strain of the retiring babyboomer generation on their economies, but I feel like they haven't seen anything yet...
Im a millenial, 23 years, i started investing in cryptos because it was easier to understand then the stock market, right now i already researched some stuff about the stock market and know some of their wall-streety word (bear market, bull market, index funds, hedge fund, bonds, dividends,etc...) but i had to do so much research online just to understand it, and then i need to pay taxes and more taxes, and dividend taxes and gain taxes, god damn ppl, just make it easier for young ppl to actually buy stocks and WE WILL!!
Excellent to hear that you're investing,but do take the time to learn the stock market as well.
You can recognize alot of things happening in this market that way.
Read up ...get a few books to walk you through it.
Heres a few..
-"Rich Dad, Poor Dad" (2000) by Robert Kiyosaki
-"The Intelligent Investor" (1949) by Benjamin Graham
-The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns
-Thinking, Fast and Slow by Daniel Kahneman
Do yourself a big favor,buy those books and read them ...you will be better at understanding investing afterwards.
Its admirable and it's always good to see a young person have the hunger & desire to get in this game.
Help yourself by learning the Ins & outs as well.
Thank you, i will read those, i think most ppl at my age just care about going out and getting drunk, i already had my fair share of alcohol what i want now is money so i can go travel, buy a house, and do anything i want, and from what i see the best way to get that money is trough the stock market and cryptos, it might take 20 years, but i will finish this race
I have to say... I wasn't investing in anything at 23... so you're definitely ahead of the game. I moved out at 19... and its really hard to live anything but paycheck to paycheck at earning-level... so you're doing really well.
Also... stocks ruin companies anyway. .. investing in Crypto is investing in future tech.
I'm still studying, i get a monthly paycheck from my father and since i dont use it all i can put it into cryptos or stock market, atm trying to build a 1k portfolio of cryptos almost there, im probably going to take a summer job just so i can invest more, i also got a rainy day account just in case something happens to my parents...
What cryptos are u investing in?
PS-upvoting in steemit is soo buggy, ive alrdy tried to upvote u 10 times and still nothing
I totally agree im from London, house prices are insane here. The return with stocks is low unless you put a large amount of money in which the younger generation cant afford to do. Also i have to say that crypto fees are far less then stocks and easier.
Excellent points. Unfortunately too, a lot of research has illustrated that millennials are much more likely to want to hold cash than stocks because of how they feel about the 2008 crisis. Cash is a lot easier to spend even if your intention is to save it. The stock market can be done so easily through passive indexing that it makes me sad knowing less people want to get involved with it because they feel they must be wealthy to participate. We are definitely in for a rough ride moving forward.
Passive Indexing just isn't really known amongst non-financey people. If I asked all my friends on Facebook, I'd expect only a couple of accurate answers.
That's an excellent point... I'm way more into saving and not-spending because we had a recession as I was finishing high school, and by the time I finished uni, only the lucky few were actually getting the jobs they wanted.
Millennials haven't had a recession in Australia (the GFC didn't affect us, China kept buying all our stuff) so they've never been scared they won't have any money in the future... without that fear... why invest... retirement is so far away.
Rough ride indeed.
I'm not so sure what's more intuitive ;)
https://www.zerohedge.com/news/2017-01-23/myth-passive-indexing-revolution
Thats also partly why ETFs have boomed.