Stumbled across this Dave Ramsey radio call and will say I completely disagree with the advice he gave this 17 year old kid.
If you are not familiar with who he is, Dave Ramsey is known for his no debt financial lifestyle. It's what he preaches and I don't disagree with that at all. Well, with exception of mortgages used for rental properties.
But I digress...
Invest in Crypto?
This kid called in and asked what he should do with the roughly $2k he had saved up working part-time. Should he buy stocks, maybe crypto.
You can listen to the call yourself, but he basically told the kid to avoid crypto at all costs and invest in mutual funds, really?
Why I Disagree
When you are 17 years old you are in a position to take on risk and swing for the fences. Especially considering most 17 year olds normally blow that money on a brand new Xbox and Nikes.
This kid is actually smart enough to invest. So even if one considers crypto 100% gambling (which I do not) then it would still be okay for this kid to invest in crypto.
Or Maybe This Scenario
Fine Dave, you don't want him to risk all his money in crypto. Then half crypto, half mutual funds. But he basically told him to avoid crypto like the plague.
Best Regards,
