Barefoot, You Offer the WORST Advice I Have EVER Heard

Scott,

I have to respond to your advice last week where the husband had lost $57,000 trading crypto. That was literally the worst ‘non-advice’ I have ever heard in my life! You don't even know what he was trading, for one. If he's invested in blue chip top 10 cryptocurrencies (Bitcoin, Ethereum, Solana) then, for the most part, it’s a long-term strategy like with any other stock. Giving non-advice like this is just making that woman panic and will probably result in her persuading her husband to sell at a huge loss. I call it non-advice because your advice, “invest your short-term savings in your bank account” – with 0.01% interest per year! Seriously!?

Elliott

Hi Elliott,

Seriously.

Look, I have no problem with people buying magical dog coins or anything else that tickles their greed gland.

But I wouldn’t be risking my house deposit on it.

If you’re ‘banking’ on the money being there within a few years to buy a house, you really should protect that capital, even if it means you’re not earning interest.

That’s just common sense, I would have thought.

Scott.